There are many ways to scan market trend. One fast way is to scan the market by channel. There 4 possible scenarios a stock will trend. For long position, 1 is good and 4 is bad. The market is trending down for past several days already.
I assume 90% of these comments are sarcastic. As a former fulltime trader as a self-funded BD and MM on the AMEX, I can tell you risk management is everything. Risk management is not just about limiting losses to stay in the game. It is also about position sizing and how you allocate risk. Once you find your edge and want to repeat it, you need to allocate the risk you take toward what has worked in the past and less to no funds toward what has had little success. Those day traders that want to put the same dollar amount toward every set up, do not do well. The same for a swing trader. Asset allocation is part of being consistent and profitable.
I define it differently. NVDA made an alltime closing high more than a month ago Nov 7th, then on - Nov 21st and Dec 5th doji - two failure swings attempting to set another new alltime closing high. So LL's LH's for a while, currently sitting on support - which if breaks might result in much more downside. Already down -17.03% from Nov 21st spike high.