Sure it is a great feeling picking those and there is a time and place for everything. In this case I looked for fib patterns. When there was a big run up followed by a 35-40% correction price climbed back close to the top we saw an strong move down with one or two candles. If you drew a and bought on the close of the disrespecting candle with a stop just above the retracement, you would have been in a position to double or triple your risk depending how you exited. In this case after the close of a candle.
You could have used many indicators for an exit, perhaps , Stochastics, etc. what ever your poison.
My point is look for these recurring patterns they don't always pan out but combined with other strategies they can be very good for your account.
Educate yourself create a plan and trade your plan. Use other's ideas to validate you plan. Be responsible for your own decision. Know your limit, trade within it.