Text-Book BEAR Flag on EOS/USD Tell-Tale for SHORT Position

In this idea I will explain what a bear flag is and how this information can help us position ourselves for a nice short trade on EOS.

A Bear Flag is a bearish continuation pattern. It is formed when after a strong drop, an ascending channel is formed where the price bounces back and forth.

The bullish version creates a view that looks similar to a flag and a flagpole, from which the name is derived.

If at some point the channel is broken downwards, a second downward movement can be expected.

EOS is trading in exactly such pattern after yesterday the whole market had a big dump downwards.

I suggest a short trade set-up here on EOS where the take profit is close to the 2.40 level

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!