SO after making many mistakes that I have definitely learnt from this rally trying to pick the top I have make sire to wait for the confirmation this time. The second image is what originally sparked the first trade going short. It broke the pattern after making a Bearish Divergence on the peaks and made a beautiful entry point when it came back up to retest the resistance line of the short term and long term patterns. I felt it was falling tooo fast to quick and believed there would be a breather at the previous high and the 50 day Moving Average, which has started with the Monday session. I believe it will retest the neck line of the head and shoulders before falling the rest of the way to the support line of this over a year long now channel. This also lines up perfectly with the height of the head to the shoulders and the Fib 61 level so I don't see the market falling past this point and most likely start the Christmas rally after this.
Comment:
Happy I waited for confirmation which never came, this is a great lesson that no matter how good your analyst is you have to wait for confirmation as MR market can be irrational at the best of times
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