$WIF trying to trade reversals with a large position (especially with leverage), is not the wisest choice for the average retail trader. If you have a directional bias, up or down, wait for confirmation of this trend before you enter and enter with a stop loss.
It might eventually go in your direction, but that is provided you don't get liquidated and run out of margin, or drawdown beyond your risk level. It's worth losing a few basis points of profit for a chance at more consistent profits.
That said, I don't think now is a good time to open a new trade. Market can go either direction right now. While I am still of the opinion it will drop, I entered this trade near the local peaks so this is a risk free trade for me. No trade = no loss. Log off and come back at a better time.
