FANG has held pretty strong at $87.50 support during this consolidation time frame from June 17 to present, even with some extremely heavy down days. This consolidation has allowed and to reset a bit from its overbought conditions.
I expect a few more days of consolidation, perhaps until the end of next week. At that point, I expect a breakout to the upside. If a breakout occurs, I'll open a larger long position.
FANG is also generally influenced by the NASDAQ. If the NASDAQ falters, it could cause FANG to breakout from the Flag to the downside.