Know when to pullout.

Hello readers, Tricky day in the markets today! I want to share one trade with you. Knowing when to pull out saved me from a loss today. Around 2.20 ETA today $SPY seems to break down intraday after it broke opening range 114.44. So In entered a long 3X times $SPY short $SPXU at 20.65. It worked for .20c to 20.86. Then I pulled out a $SPY 15 min chart and I saw a massive falling wedge setting up. While the price going down, MACD/RSI/Stoch. were all going up, creating a divergence . I know short term falling wedge pattern in an oversold Market can make powerful bounce so, I decided quickly to cut my $SPXU position at break even around 20.60 area. Look at the $SPY chart below to see what happened afterward. Breaks out from falling wedge at 114.77. Comes down to retest and shoots higher to close at high of the day 116.67. Meanwhile $SPXU closed at 19.49 ! ouch. So the lesson is pay attention to the patterns. They are there for a reason and classic patterns still works.