Nov. 5th - Nov. 9th, 2018

We have a potential BEAR FLAG in the making on the H4 chart here. 

We are looking for a break of the lower trend line of the channel with a sustained move below 1.14000. Confirmation could come via an Engulfing Bear Candle on the Daily chart . 

Looking for a SHORT move of 160+ pips if we get that break (based on the measurement of the previous move - i.e. the flag pole) with 3 Take Profits targets. 

This set-up would be invalid with a sustained break above the upper trend line of the flag. 

Risk reward would sit around 1:1.5 or 2

Want to learn more about reading Chart Patterns like this BEAR FLAG? Wondering what an ENGULFING BEAR CANDLE is?

Our CHART PATTERNS 101 and CANDLESTICKS 101 courses are coming soon - They will be posted HERE!

 UPDATE: Invalidated. USD Dollar drop after the mid-term elections allowed the EUR to push through the top trend line of of the flag