We had a red candle today, do you think this is the right time to short? When you say with a stop and reverse, you mean if stopped out then take the reverse trade and buy it?
This trade is built on the fact that at this price the market is undecided so what you want to do is get in and be ready to accept either direction because the expectation is that once price starts moving, it will really move
Sometimes, the market goes sideways due to the indecision so that presents a problem
So as with all trades, you have an aggressive approach to enter or a less aggressive approach
The decision is yours
Entry on the first red candle is the most aggressive so you don't have to commit to it. You can find other ways to enter that you feel more comfortable with
The idea is the same either way