I decided to be one and done today for a few reasons–I had some decent pips in the bag already, and price was beginning to flatten out. From this point, price was either going to chop around, reverse, or continue the trend down. I want to avoid choppy range while everyone takes a breather and there’s limited opportunity. I also want to avoid trading a reversal, the odds of which are diminished because the strong longer-term downtrend could continue at any time. Further, I’m not really excited about playing the downtrend continuation because price has already exceeded ATR for the day, so odds of a continuation are getting lower. So…no matter what price does from here out, I don’t want to be involved.
UPDATE @ Noon: after I quit for the day, price was rangebound, reversal attempts were muted, and price did not continue the downtrend.