I'm approaching that concern by trading only in things I'd want to own...
(except for the leveraged ETFs which are purely trading vehicles)...
That way, while using charts in the trade, I can do my homework on the underlying values with a bit more patience while not worrying about losing out on an issue, because i own it, even it "it's just a trade"...
I don't mind averaging down on small positions to build up larger ones I want to keep... but work hard to call bottoms anyway... and try to "trade down" profitably rather than average down while riding losses lower.
Watching for the reversal ? Yesterday I countered the up moves by buying SDOW when it was at the low... which worked for an intra-day trade...
The bollies are pinching... will it go up out of the bolly pinch or down ?
Still think that's a trading issue... so split SDOW and UDOW... and shed the loser when they move if you don't trust your call on the next move ?
The MACD is a hard indicator of "controlled" market moves. Visualization easier with symmetry. Moves parallel to the zero line make steady line moves in market prices. See the left of the chart before Feb 24 with the MACD level inside the zero lines, and the market in the steady up mode of the last few years. Then, Feb 24 and the market breaks. Angular moves in MACD are... unnatural. Rounded moves more organic. Above (inside) the zero line(s) is up... Below (outside) is down... steadily if flat, accelerations if not, with accelerations liable to cause loss of control. I'll put long term Dow and oil charts below... to show that.
Here's a couple of DOW charts in a form I use for calling tops, bottoms and moves out of bolly pinches: Makes it easy because using the doubled MACD has it as "pinches are peaks, bellys are bottoms"... but, short term versus long term ?
Short term ADX says... probably going lower on the next move...when -DI breaks higher again... and a break out of a bolly pinch with price at the top fo the range is inauspicious. Accelerated MACD structure also says "pinch is a peak". If MACD were level just inside the zero lines... maybe up out of the bolly pinch. But, not.
Long term chart (2nd chart below) says... top bolly is rounding, bottom bolly is not... still almost vertical. The +DI says "up for now" but does not say a serious bottom has been put in. Looks like its just showing the bounce we've had... and it might continue to 23K, 24k or 25k ? And then ? But, look at the volume dropping off... The on balance volume mnemonic is trend dependent: "red over black, bouncing back, black over red, you're dead"... I use green not black, but... another week or two with volume green but declining and that should do it... ? Short term shows a lot of green volume... long term... not so much yet.
Wait for it ?
Same concept in a DOW weekly chart:
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