Potential beginning of a Bear Major Trend Reversal. Earlier Bull Trend began in August, the bears tested fairly strong below the exponential moving average (20) for the first leg down and break of the bull trend. After the bear test, the bulls retest back up creating a new swing high (wedge top- 3 pushes up.). This might be considered a 40% probability trade, but with a wide enough stop loss, it may be worth scaling into. It could be the starting point of a bear reversal to at least the previous November Low.
It's going higher than I want... but still holding a PUT option i Bought. Hopefully we get an inside bar tomorrow and the beginning of a reversal down... if it goes beyond the height of todays bar tomorrow... I may decide to cover and exit.
ClosingBasis
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I'm curious what you're using to reason that CHTR is about to reverse down and that it could to go at least the Nov low? There is virtually nothing bearish about this chart. I see that it is a daily time period and that it is making higher highs and higher lows, has just broken out of $278 resistance and backtested it successfully. I have found that most of the time, price gives us plenty of time to see that a reversal is underway. In order to just pause/stall this chart, price has to get down to the last daily low pivot at 266ish which would create an equal low. Once we see an equal or lower low, that's when we start looking for lower highs which are usually ideal short entry points. Good luck.