I think down move is either a weekly correction or daily correction or impulse. In any case, there is a big potential for more downside. That's why I'm looking for short trade setups. I have an entry order because the structure looks like a correction so far. In the meantime, I'm waiting for the breakout and a correction to take a short trade. If I can take any, I will remove the entry order. Target is not clear, leave it empty.
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Wait for the breakout and small flag to take any short trade. When I take a short trade I will remove my entry order.
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I have placed another entry order. But this entry will be very risky. I have risk 0.5% of my account for this trade.