In our last analysis we were looking for a break or bounce scenario. Price initially bounced off the trendline but then fully collapsed!
There were a few opportunities to get into this trade. We got in on the break of the first bear flag. Price went on to make a further 2 bear flags on its way down. Keep on looking for bear flags to take this lower.
Just be wary that we are approaching a long term ascending trendline at the 1700 level.
See chart update for lower timeframe.
Goodluck and trade safe!
There were a few opportunities to get into this trade. We got in on the break of the first bear flag. Price went on to make a further 2 bear flags on its way down. Keep on looking for bear flags to take this lower.
Just be wary that we are approaching a long term ascending trendline at the 1700 level.
See chart update for lower timeframe.
Goodluck and trade safe!
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Bear Flags
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