Now i saw a Libra Pattern with fib 0.786
Re-enter the short, Very tight stop loss
Weechat ID: 32114564
If the price comes back to 0.7246 I think that the agressive buyers will come again and push the price higher once more.
Here is my analysis:
You did not use any signal to enter as you shorted on a huge bull spike on the very bar that closed above the previous 2 bars. That was a breakout gap. A sign of strength.
The last decline was indeed remarkable but it did not break any of the bottoms, so it was not likely to form a lower high now.
While a trading range was possible -- if you wanted to fade the move -- up you should have faded above the extreme top, not below it.
And you should have used wide stops and be prepared to scale in and exit at BE on your first entry should the move continue too far beyond your first entry,
Also your second profit target looks extremely unrealistic to me. While the 1st TP was achievable, if mkt got there it would have very likely formed a big bull flag and tested the extreme high again.