Would you Short This Bear Flag?

Quote from Flashboy:

Just curious as to what you guys think of this formation.

5 min. chart of Emini.. bear flag forming..

30 min. chart very oversold.. the price is currently at 980.00 and there is fairly strong support at 975.00..

Would you place a sell stop below this channel at the 977.50 area???

No, I did not short it and neither did anyone in the chat. We made out fine as we all got 5 points out of the move up if we stayed in through all the wiggles of the cycle.
The place to get in was a few bars into the upswing, it gives you a closer initial stop...it sucks to lose 5 points when you can tell if you are wrong in 2.

I am not fond of this flag idea IMHO. Something about it is too subjective to work. Others like it.
:confused:
 
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