I mentioned that already in my post from 12/13
the 12/12 on the daily chart is a decent Signal Bar (SB) for a Breakout Pullback Stop Entry short (also a test of the open of the year)
the smallest Initial Risk for that trade, that makes sense (for a trader on the daily chart) is the high of the SB, a SB stop
during the last and current week we saw some nice reactions at the Measured Moves of the range of the 12/12 SB, which are reactions of bears profit taking (PT) at multiples of their Initial Risk (IR)
the strongest PT occurred at 3 x IR, which seems to be a “bread and butter” risk/reward
