1hr bear flag tries a fakeout finds support inside bear flag?
not a good sign to see what appeared like it was going to be a bullish breakout of the bear flag not get a follow up confirmation candle and instead turn into a fakeout falling well back under the bearflgs closest red trendline...I thought it may be breakind down under the bearflag too but now the current 1 hr candle is making it appear like the bottom trendline should be lower making the already suspiciously to skinny bear flag slightly wider and more like a normal bear flag length...just as the bull flag got wider at it's bottom now too does the bear flag. We do not wanna close the current 4 hpur below the bottom green trendline of the bull flag and we hope to see the new lower bearflag bottom trendline continue to be validated...for now I'm neutral but am putting a fractional stop loss 3-4 pips under the red bear flag should a breakout to the downside occur. A very fractional one since we are above the 50sma and in a buyers market...not a sellers market....this is only my methods and not financial advice...thanks for reading.
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