Meantime, he's a naked chart of the recent bear run, and the reasons for exit.
1. At this point an Extreme Spike was painted. After such a strong bear move I didn't see any reason why it would suddenly end here.....I mean, why would it stop here? So what I did was move the stop loss to break even + the spread.
2.As the next few candles were painting, I could see the beginnings of a flag forming, which is a reasonable sign that the bears aren't finished yet. The Extreme Spike was still there. After a short while there was a breakout from the flag and the Extreme Spike disappeared.
3. See that candle there? It's called a hammer (I think), but never mind the name. What it shows is a strong fight back from the Bulls at last. The candle tried to push further south, but the bulls said 'no way' and pushed it back again. So the bulls have arrived and it's plain to see......this is a great place to exit.
Hope that helps. I'll try and post my reasons for exit in future
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