Basically all FXI did today was form what would be known as a "Bear Flag" in technical analysis, it is probably organic as I doubt FXI is one of the "manipulated ones"unlike a FB, PCLN, NFLX, TSLA, etc.
A bear flag is a price consolidation/continuation pattern. To be legitimate it must consolidate against the prevailing trend which would be down for the timeframe we are looking at, thus the flag should consolidate upwards forming a parallelogram.
I don't see anything on the 1-5 min charts, where I'm most concerned with option positions, that would cause me ANY alarm.
There's the bear flag on a 1 min chart which formed intraday today, the 1 min 3C chart is in leading negative position.
The 2 min chart gives you a VERY clean divergence as price consolidates upward in the flag, while 3C moves downward,
the very definition of "Divergence".
The 3 min chart is also leading negative and...
The 5 min chart is leading negative as price consolidates against the prevailing trend (since yesterday) which is down, thus we have good divegrences that don't raise any alarm for me of an impending consolidation or correction, therefore I'll keep the position open.
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