Strategy Description: This is a variant of the short retracement to failure zone. In this case that can be the methodology to get a nice low risk entry.
However, in this I want to highlight the price behaviour that indicates possible trend continuation. The key strong trend has already occurred so you aren't comfortable just getting in for a hopeful continuation of the trend. But there is a contraction in volatility (in this case in a wedge formation), and a hold near the lows (or highs). A break of this consolidation pattern indicates a continuation of the trend. Which in this case the ideal entry was obtained by shorting the retracement to the failure area, and managing effectively from there.
Technical Analysis: Clearly an over-extension on the intraday chart. Very tough just to short it. Very strong daily momentum as well. Other than that the strategy description covers what you're looking for.
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