Clearly, the trend of the market is down. I have picked the right direction.
However market timing is equally important to complete the whole trade.
In this situation, what happened was that the channel decided to continue to build up, into a larger channel, perhaps for an even bigger downmove.
I may not be able to know that, and even in mid-week, I was thinking of these:
Delusional 1234 within 1234 within 1234
It may not be the right way to understand 1234 fractals
Dangers of stable H4T
Macd divergence is key to me. It is key to market timing.