Due to the recent panic from the corona virus scare, the oil war and the circuit breaker trigger on markets, I will not be taking swing trades. In cases like this we get emotion and panic so it can render technical analysis unreliable. I expect things to be volatile and risky moving forward, so I prefer to sit on the sidelines until markets settle down.
If the majority of global markets are risk off and investors are raising cash then it will be difficult for speculative assets to grow. Certainly we can bottom at any point in time, but I can't reliably say when. And when I don't have an advantage I don't trade.
FYI - I was stopped out of 2 attempts at swing trading and even though cycle analysis may not be reliable, we likely have a cycle failure so thats another good reason to just stay out.