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The only thing I would recommend is wait until you get a better risk/reward setup before going short or long. But if this setup was in your trading plan and you took the trade, then that's what matters. Each individual trade is irrellevent over the course of your career.
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I used DIA so I can get the volume in there, for some reason with a TOS prophet chart on the DJI I can't get volume even for daily.
This looks like a nice spot for a short...JMHO.
We have heavy resistance and the volume has dried up on the rally, we probably need new buyers/fresh volume to break that resistance. Also on the fibs we are in the ambush zone and close enough to the 50% level that I see good risk to reward using that 50% as the stop trigger.
I'm curious on your view of where we are on risk/reward and what you're looking for now. This site has the best traders and up and comers, I value all the opinions on here.
