bearish flag pattern and structure

good morning everyone,

on euro yen after a massive selloff from a recent market higher high 127.5
we see a steady market correction.

right now bulls are approaching a decent level of resistance

price is coiling in a rising parallel channel called flag pattern.

bearish violation of this rising channel is a very good trigger to sell the market,
anticipating a retest of the lower and further bearish continuation.

I will be waiting for a bearish violation of a flag pattern in a zone that I underlined on the chart,
I will update this idea when I will see a confirmed breakout!

good luck!

Kommentera:

market is entering a potential reversal zone