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EURHUF - The range, which can turn into a flag

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My last recommendation on EURHUF             was a short from 313,50 - 314,50 range top levels. After some initial spike above 315 (where I almost lost the position by the way on stop) finally it worked. However yesterday px             action seen clearly on the daily chart proved that the range is still intact, means that the short had to be closed either on the profit tgt             309-310 or on trailing stop 311 - 311,50. What is more important, this range has some upward bias with slightly higher lows, which in case once EURHUF             breaks out on the top above 315,50 can turn into a really ugly px             action. In that case the longer and also pretty volatile consolidation could complete in a big flag, which in line with the major trend will have a new measured top tgt             ard 326-331! Be careful if you want to catch a spike again for a swing short, that can be safe only ard 315-316 now. I still think NBH will likely do some silent intervention there, the range consolidation will remain but the range will tighten further. The date of Hungarian election is very close now (about 2 weeks from now). In rethorics we do not see any chance for a possible policy change from the current governing party which according to polls will likely win majority again. After the elections the policy may let HUF             weaken further. Of course on a technical basis we can not close out the other possibility, the break out on the lower side, but in my view this scenario has less probability.
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