We are now hanging out at the top of balance.
Gun to the head, I'd still want to be short.
If I change my mind on the short, it's becuase the buyers will move the market abvoe this 3000 area and we will start to trade a lot of volume up there.
Until then, if you are long from here you are buying the breakout from value high and that's a losing proposition, long term, in this instrument.
Remember, whether this trade works or not is irrelevant, whats important is the body of trades.
Gun to the head, I'd still want to be short.
If I change my mind on the short, it's becuase the buyers will move the market abvoe this 3000 area and we will start to trade a lot of volume up there.
Until then, if you are long from here you are buying the breakout from value high and that's a losing proposition, long term, in this instrument.
Remember, whether this trade works or not is irrelevant, whats important is the body of trades.