Based on my analysis on the higher time frame I'm expecting this to go long to complete a correction before continuing south. What about today? This flag should break but it may not happen until tomorrow when the ECB announces it's interest rate decision. Until then price could remain in the correction (flag).
If you're not in wait for the break - if you are in tighten you stops in case it moves much deeper than expected. Remember news often makes the market volatile and price can swing wildly in both directions.