Our bear flag opportunity from earlier today (LINK TO ORIGINAL IDEA BELOW) worked out perfectly and fulfilled our idea.
There was a rally up to the channel resistance, then the bearish momentum came in, and we had a big swing to the downside to break and close below 1.26066. We expected minor support because the market was near the psychological level of 1.26000, but then there was another bear push below 1.26000 to reach 1.25910.
The market now looks to be in another consolidation phase; we will either continue down or move back to the upside to test the previously broken levels as resistance.
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