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I shorted High in Broad Bear channel , I am wondering if I should've exited my short position after a HL MTR buy signal or should have I waited for another bull bar before exiting.
This made me miss most of a the move I was originally expecting.
I re-entered short but way later.
How would you guys have done it ?
Was it reasonable to exit where I did or no ?
Hi Fabian,
Looking at the chart, there was only a 4-5 bar trend resumption down. A Major Trend Reversal setup needs a trend resumption down for about 10 bars and then a buy signal. Here the wedge bull flag was more likely only a minor reversal up. You could either exit your short or hold with your SL intact. If you did exit, you should reenter on the next bear bar closing on its low.
I hope this answers your query
