Keeping out of a Bad Neighborhood

I am expecting a sell off because of market conditions however I know this is a high risk trade as it is a counter trend trade and caution is warranted. All the time frames above the daily, the weekly and monthly, firmly show bullish momentum and a market controlled by the bulls with price above the Alligator Jaw.

For this trade I choose the third Red bar on the Awesome oscillator as my sell setup. The Acceleration De acceleration oscillator was also red showing increased speed of the selling pressure. I placed my sell stop 2 ticks below the low of the day on the SPX for the overnight/ next day.

At the end of the day I knew this trade was likely not to trigger with a huge move to the upside in the market. This setup kept me out of a bad neighbor hood and a loosing bearish trade

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It should be noted that this trade would not be taken following Bill Williams rules. This is my own setup. His rules would dicate only taking a long setup because price is above the Blue Alligator Line aka the Alligator Jaw. I would be looking at a scaling position for this trade but because this is counter trend my profit targets would be much lower.