🐭 BEARISH CONTINUATION DISNEY 📉It appears Disney has created a bearish running flat on the Weekly time frame.
It has also then proceeded to create a bearish flag on the Daily time frame.
This indicates that the trend will continue to the down side.
The bearish running flat is a three-wave corrective pattern within a downtrend. It consists of:
Wave A: Sharp downward impulse.
Wave B: Upward correction, falling short of the previous high.
Wave C: Strong downward impulse, confirming the downtrend's continuation.
It is great to find larger time frame setups that indicate the direction of the trend then taking trend continuation setups on the lower time frame in that direction!
This adds greater probability when taking trend continuation setups.
As the greats always say "The trend is your friend!"
Also to add to the probability, the bearish daily flag has a healthy correction into the 50% retracement zone of the impulse then reversed. Indicating that it is more than likely a progressive impulse rather than a corrective one.
