DislikedWait.. W is bullish, M is bearish as far as I know.. If you look at it the other way you've got it all wrong, I mean really wrong.. To answer to your question, I don't know what I'll do, but for sure I will NOT take a short once a W formed at support and long the other way..
Taking a short into support or a long into resistance HOPING is what blows accounts IMO.Ignored
Ever heard of bearish/bullish gartley/butterfly?
Edit: I think its trading style... where as you would wait until it comes back down effectively creating an M from the W which you would consider bearish... and set your SL at the top? I would short at the top with a small SL knowing if the gartley/butterfly breaks... better R/R for me I think.
I also think that if you just had a bearish gartley and turns into a bullish butterfly for example I wouldn't trade that because of the possibility of it riding down like I was saying before. To buy I would wait until a R was broken after a sizable bearish run and it came back down to form an M... then I know my SL and I know my potential TP target (minimum the R, while 50% would set my BE).