Price broke through the diagonal triangle very nicely. Too bad I didn't take advantage of that run. Jaime Saettele said it best in his EUR/USD post today here: "...markets typically do not allow many people in at major turns. In other words, many will wait for a larger correction that never happens." I suppose my best strategy yesterday would have been to short on the trendline break; lesson learned. Either way, I don't think it's smart to chase this move. I can see 5-waves down on the 30m chart, so I am going to wait for a correction to the trendline bottom before attempting another short entry.
I think it's important to note that retail traders finally flipped to net long. Now 54% of traders are long. Man, they are getting in at such a cheap price now!
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