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I was wondering what you guys think of this Short entry
Your trade management on this was good imo. You recognized the trade wasn't working and you exited quickly with a (hopefully) small loss.
The entry is okayish. It is a bear breakout with a follow-through bar, strong enough for a 2nd leg down.
However, the market is more likely in a trading range after the earlier bull breakout. Also, price has overlapped quite a bit before the bear breakout. Which means the bear breakout has higher probability of being a bear trap. Better to wait for further confirmation bears are strong with a failed retest of support or LH reversal down.
Some bears did sell the LH reversal down and get a 2nd leg down. But once buyers came in strong again, traders agreed it was a false bear breakout of a trading range and a double-bottom reversal up back into the middle 1/3rd of the trading range.
