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Price formed a Bearish Flag and was rejected of the higher boundary of the Pattern. In case there is a breakout of the Mid line of the pattern we can initiate a short position.
Also if there is a breakout of Bearish Flag to downward we can initiate a short position
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Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
Bear flags are pauses in a bear trend they are represented by a short bull trend on a lower timeframe that eventually breaks for the bear trend to continue.
Bear flags are pauses in a bear trend they are represented by a short bull trend on a lower timeframe that eventually breaks for the bear trend to continue.