Bear Flag w/Confirmed Bearish Break - EG
Updated
Price gave a Bearish Break to the Ascending Channel which confirms we are seeing a Bearish Flag.
-The Volume behind the Candle that Broke the Ascending Channel signifies that it was a Strong and Valid Break
Being a Continuation Pattern, I suspect we will see Price Retest the Break of the Ascending Channel and continue Downward!
-Looking for a retest in the ( .8430 - .8435 )
Indicators:
- Price trading Below 200 EMA
- RSI Below 50
- BBTrend Printing Strong Red Bars
- Volume showing Bears accumulating
Trade active
Price has Pulled-Back to not only Retest the Break of the Ascending Channel but also the 23.6% Retracement @ .84243 suggesting the upcoming Trend Move will be Strong!
- RSI Testing the 50
- BBTrend Printing Large Red Bars
Sell Entry @ .8425
SL @ .8440
Trade active
German ZEW Economic Sentiment Results!!
3.6 Actual v. 17.1 Forecast / 19.2 Previous
A disastrous turnout! The expectation in economic improvement is fading and we will begin to see that weakness show in the EUR.
Trade closed: stop reached
EUR has beaten out GBP and pulled price back up and into the Ascending Channel hitting my SL!Trade active
Price has made a Strong Bearish Break of the Ascending Channel and formed a Valid Lower Low!
-Death Cross appearance above Price with the 200 EMA + DSR
Price Pulled Back and Retested the Break @ .8420
Sell Entry @ .8420
SL @ .8440
Trade closed: target reached
Short Positions Closed! Looking for more opportunities if price tests the Support-Turned-Resistance Zone to continue further down
Novi_FIbonacci
Telegram - t.me/+l3fTcsZu91ZiZDkx
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