I think it's the ole support/resistance
if (fake or not) support is not violated then trading short is outright asking to be beaten up
"trend is your friend" has a logic to it and the logic is that in a trend , let's say uptrend, support is not violated
therefore going short without a support violation is going AGAINST the trend which is outright ignoring the basic fundamentals of both charting and trading
crying like a little girl because the market made a booboo to the shorts is therefore unwarranted and ridiculous
I'm not immune of bad trades, even today I took a short near the highs AND LOST money, but I took it with one of the systems I follow, so no biggie, that system is 80% accurate or more, so it just screw me over with the 20% bad side that's all, no loss of confidence, I'll do it again (and again and again..)
but that system aside I would've NEVER gone short as the intraday support did NOT break all day long
so if someone did like me and shorted with some system, then it's all good
but whoever shorted because it seemed overbought or too high or other stupid trading bullshit that was bad trading all around and deserved losses
no one can come and show me intraday support loss today
or
alternatively to show me a SPY acknowledgment of resistance of prior trading day
because none happened
algos screw us, that's true, it happens often, but there are long standing BASIC rules of support and resistance, both intraday and longer term and they both hold true
one of the hardest things to do is to go into trading ACCEPTING that this trade CAN be a LOSS, in spite of best due diligence and discipline
i.e. I see support I accept and then buy it (accepting trade can be a loss)
then look for resistance and plan to exit:
1. at the resistance is acknowledged
2. at support loss in the way to resistance
3. at violation of support I bought (capital safety)
WHICHEVER COMES FIRST
mechanically, and no little girl crying
so if none of the 3 points happened then we carry on holding the position
I won't say "this all it is to it" as there is more, much more, but this is a basic approach, and whoever lost money today was either using a system that failed today like I did, or violating the basic trading rules left and right
Market Data 
Markets 
