Why wouldn't you get in a trade that is trending? RSI and MACD have both signaled a bottom, a large volume of bulls have reentered buying, and we're at a key long term trend level. Price has just droped below the long term trend. I anticipate that if the current price trend closes above the range of the noted daily candle's range and the long term trend line, price will continue it's reversal and keep trending upward. Traders often overlook pairs that are consistently trending because they DID NOT get in at the bottom. SO WHAT if you don't have a perfect entry. If it is trending, trade with it. If you can get in a trend and take a lion's share of the run or a nice shank of it, GET IN and take profit. You don't have to be in a perfect entry every trade. Take a trade based on your system and stick to it; just make sure your system includes a Plan B and manages your risk along the way.
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This trade busted. The entry line was never achieved. Short was the right position for this time.