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What I think i did wrong :
I should not have looked at this as a wedge and short a L2 since the market seemed to still be making Higher highs and higher lows.
I also entered a little too early. The L2 i took was not even a clear L2. I should have at least waited for a stronger signal like a Double top to short a strong bull.
What i think i did right :
After market came back to my price level for the third time, i made the decision that there is a good chance of market transitioning into a range and so I bought back my short for a little profit.
Although the market went in my favor later on (thanks to the 3push double top,which is a much better entry), i feel that if i was still in that short, it would be hard for me to see that market was going to reverse.
I would think the rally up from bar 1 would just fail at the EMA and lead to more selling.
However, the sell off to bar 1 was actually the first break of a bull channel. Below screenshot shows this defined bull channel with the channel line drawn differently from all the charts above. I think I was too busy looking in the wrong direction (looking for a reversal) instead of waiting patiently for a long setup.
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