August 4 - Trade and charts

Today was the day to be short on oil, metals, etc. But I was focused on the wrong stocks and sectors so I missed the nice moves today. The only trade I took today was on GS and that did not work out well. The other charts are for my collection of cool charts (and really the type of charts I would like to trade).

Bear Trap - POT

This was a nicely shaped inverted C&H with nice volume formation, but I've got caught in this bear trap. I'm saving this chart for future reference, and I am looking for clues to avoid/minimize these situations.
(I actually entered below the $200 dollar mark since this is a quite significant round number.)

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Edited on Sunday, August 3.

I am including an excerpt from an email received from Jamie regarding bear/bull traps:

"Bull/Bear traps are a fact of trading. The only way to minimize the risk is to ensure that you have a solid B&B setup going into the trade. The BO is the most important part of the trade to manage. I usually do this on the 1 minute timeframe. Ideally, if the stock breaks wide, there's a good chance of success. Either way, I use the 20 EMA on the 1 minute timeframe to manage the BO. I allow for a retest up to the 20 EMA. If price breaches the 20, I expect it to reverse immediately and make it's way to a lower low. This can take time as there's a lot of backing and filling, but if price retests the 20 a second time with a higher high on a short trade, it's time to say goodbye. I'm not one for holding until a stop out, if the stock makes a weak attempt to BO, I'd rather scratch the trade and move on to something else. There's no way to prevent bear traps as I've been in trades that were well underway off of the BO, only to reverse sharply carving a huge flag pole and taking out the stop. Fortunately, these situations don't happen too often, otherwise trading would be for gamblers only."