Correction, that candle was to be finalized at 11:00pm (not 11:30) & did not close below the trendline. The current 11-12pm candle is currently trading below the trendline with 18 minutes to go before finalizing.

That whole “and/or” thing means that the odds that the breakdown will stick vs. proving to be a whipsaw increase considerable if/when the support level, in this case the uptrend line, is clearly taken out with a candlestick close on the time frame of the chart being used (60-minute chart in this case).

As such, aggressive/nimble traders might opt to take a full position here on the breakdown, potentially providing a more favorable entry price “or” less aggressive or conventional traders looking for a higher-probability entry might opt to wait for a solid 60-minute candlestick close below, even if that comes at a less favorable price.

The “and” part is a combination of the two: A partial (e.g.- half) position here bringing it to a full position if/when a solid 60m candlestick close below the trendline is printed.

Indirect hedges are still my preference until/unless QQQ pushes up another 2% or so to the top of my Market Top Range.