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Inside technicals and chart patterns by Raghee Horner, trader/author at Ragheehorner.com, Chief Currency Analyst at InterbankFX, and Autochartist Chief Market Analyst.

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Short Tem Set Up: 15 min cable bear flag
Posted on February 9, 2009 at 21:13 in Chart patterns by Raghee Horner

The set up here is a short term (15 min) chart pattern.  Bear flags are upward angling, short channels.  The trigger for the short occurs when the uptrend line support is broken.  These patterns can set up in both an accumulation or distribution cycle; this is occurring in the distribution.  The trigger for a flag is always in the opposite direction of the angle.  Bear flags angle up while bull flags angle down.

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