I've made a lot to the downside...I've taken some profits...so I'll be looking to short bounces...if I get stopped out I made a nice profit...but it's currently falling and that's the only smart play.
IF you see a measured move up...Then a retracement Lower making a Higher low...Then you have a good place to buy.
It's all about Price Action. Always ask WHAT Would HURT the RETAIL Trader...There are a lot of retail Traders Short Right Now...Unaware of support ares close by...perfect opportunity for Institutions to Drive Price up and establish a better place to add to their short position.
ALSO if Institutions Think the selling has run it's course...it will be a measured move up...Then they will drive price back down stopping out all the retail traders going long...again allowing them to add to their Long position at a better price.
Billion Dollar Funds Can't go ALL IN right away...they have to establish their position over time. So if they go long...they will short in another account to drive price down to allow a better place to add to their longs. Despite what people think Institutions can see what other institutions are doing.