Mike,

Thank you very much for this explanation. I too got shaken out the day of the downgrade. I looked at the models in the chart school model book and found no example of a HTF that crashed through the proper pivot and worked. The next day I was conflicted. I saw the power of it but got it stuck in my head that it could not be a HTF and made a huge mistake thinking it would give me another opportunity. I missed it and regret it since I had built a large position. Last Friday I began to think differently. Would you mind sharing how you were confident that it was a HTF or did you mostly rely on the up 20% in 3 weeks or less and forgot about labels? I'm trying to avoid making a similar mistake in the future.

Pablo