Confirmation of Bear Flag?? - EU

Here I have EUR/USD on the 4Hr Chart!

Since the LOW on Apr' 16th, Price has been traveling in what looks to be an Ascending Channel!

Price today was unable to make a NEW HIGH to give us another test of the Rising Resistance and instead gave us quite the drop out of the Ascending Channel!

With this break, I believe multiple confirmations are pointing to this price action being CONFIRMATION of PATTERN being a BEAR FLAG!!
-RSI BELOW 50
-Price working BELOW DSR
-Price BELOW 200 EMA
-3-Point Sell Check

Bear Flags are a strong continuation pattern typically giving investors the ability to foresee Selling Opportunities with Price giving a Strong Bearish Break of pattern, then to Test the Break of Pattern which is what I am currently waiting for!!

-Once the current LOW has finished forming, I want to see price retrace to the Break of Pattern being in the ( 1.069 - 1.07 ) range for potential Sell Entries!

*TP will be the Support Zone last visited in Oct. 2023 @ ( 1.0516 - 1.0462 )
*SL TBD

ความคิดเห็น:

Price is on its way up!

Today will be BIG fundamentally for USD:
-ADP Non-Farm Employment
-Manufacturing PMIs
-JOLTS
-Fund Rate w/ FOMC Statement after

Will we see 1.07?!?!

การซื้อขายยังคงดำเนินอยู่:

Price came up to 1.069!!
Entered a Sell Entry upon arrival.
SL @ 1.0710