Everyone's buying this dip. I'm not.

This isn't because I'm bearish, but rather the higher timeframes tell me we likely spend more time at these levels or lower before any real reversal move.
No trade is a trade. Sitting in cash while others force entries FOMOing into positions that inevitably go lower isn't passive it's the most active risk management decision you can make. 95% of traders lose long term because they can't sit still. Be the 5%.