In this chart of the FXI it shows previous breakdowns that this pattern, lets call the “fish hook” have led to at least one more day of new lows. Its the fish hook, because fish hooks when fish hooks enter the water, they go down. Some people just refer to these patterns as “bear flags” or triangles, but that doesn’t paint a picture of what’s happening, plus its my futile attempt at an original name :).

FXP is more volatile chart due to its double beta, but similar pattern in reverse to the upside. This is known as a bull flag.

*I’m currently long FXP

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Thanks for reading

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