Pattern: Bearish Flag
Target: 32.000
Trade Bias: Bearish Setup
Technical Breakdown:
The chart shows a strong impulsive sell-off, followed by a channel-like upward retracement, forming a bearish flag structure.
Price has now reached a resistance zone around 33.400, marked by previous rejection.
This area aligns with the upper boundary of the flag, and price is starting to weaken — signaling potential reversal.
Bearish Flag Logic:
A bearish flag is a pause in a downtrend, typically resolving with a continuation move downward.
If the lower trendline of the flag breaks, it would confirm the pattern and signal further downside pressure.
Trade Setup Details:
Entry Zone: Below 33.000 (breakout candle close)
Target: 32.000 (based on flagpole measured move)
Stop-Loss: Above resistance ~33.500