There are 2 back to back flags (Blue Bull and Red Bear)
After the Wedge Bull Flag the mkt was unable to push price higher and it formed a bear flag.
Note how the bear flag has the second leg (3) lower than the first and both legs are under the top.
Still considerable buying pressure and little selling pressure.
Actually mkt is forming a TRI.
The best would be if it broke out on the upside and then reversed
For now I would do nothing except if you are willing to use very wide stops.
After the Wedge Bull Flag the mkt was unable to push price higher and it formed a bear flag.
Note how the bear flag has the second leg (3) lower than the first and both legs are under the top.
Still considerable buying pressure and little selling pressure.
Actually mkt is forming a TRI.
The best would be if it broke out on the upside and then reversed
For now I would do nothing except if you are willing to use very wide stops.
Trade closed: target reached
