Yep, another bear flag:
Now, I didn’t think the other one on the left would break down and it did. But this one is special today because the other one did break down. Everyone sees the last one.
This is actually all part of a diamond:
This is far more directionally agnostic. It happens when two flags are next to each other at the same level (first chart above). Diamonds can be continuation, but they can also be reversal patterns.
If everyone expects flag #2 to do what flag #1 did, up we go. But if everyone thinks flag #2 can’t possibly do what flag #1 did because it just did it, then down we go.
I of course think this will we a reversal diamond. I could of course be wrong. But, it is what it is.
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