Yes, I bought a wave 4 in a downtrend.But this is a HUGE wave 4.
Price tested low from yesterday, and bounced off that level with a strong bullish reversal pattern, which gave me a reason to stay put instead of scratching my trade after price turned against me almost immediately after my order was filled.
The extremely long bearish candle that extended below trendline support gave me yet another reason to bet on a downtrend that has exhausted itself, and that price is reversing to test the day's high at 1.4052.
Finally, and probably the KEY reason that had kept me holding my position for..let me see...nearly 3 hours (!!!!) was the number 1.4000.
