Could equally see it confirming as an upwards channel.
tradeformula
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We're aligning with a strong bearish trend though, will see if it holds. Pretty strong support in this range, so we'll find out shortly. Can see it going in either direction.
Soufkorean
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@tradeformula, for sure it can go up. thats why I am waiting for a strong bearish volume candle to close below the bearish flag for short opportunities. :) if not, LONG opportunities.
tradeformula
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@jiyongprk, 2 things- on the 4hr, the MA band is really tight, meaning it wouldn't take much to flip it bullish, which would continue the channel. Also, the stochastic is oversold, so the bearish move might possibly be running out of steam (for now). If it does begin to channel upwards it would bring back a lot of bullish confidence, could see this as the low.