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As you can see, the market rallied up strongly and then sold off strongly.
Big up Big down = Big confusion so a trading range more likely in the given context.
So why isn't shorting not a good option? We can argue a 2nd entry short on top of TR on 2nd sell.
I do understand that this could be a part of a MTR; but since we don't know what's to the left, what are the other signs that signify that the short isn't worth taking?
The point Al is making is that as market is in a tight bull channel it is risky to short for most traders. Many traders would get in on such short scalps but then hold on to a loser rather than get out as market reversed quickly and resumed its bull trend.
So stick with looking for long trades and avoid getting trapped in shorts.
