Great example of a FLAG PATTERN
This is just a great example of a flag pattern on the 15 minute chart. If you're day trading, then these patterns are essential to making gains.
We had a breakout in BCH Bitcoin Cash and then it pauses to take a breath and consolidate in a pattern that we call a flag or penant pattern.
We can expect a breakout in the direction of the trend, in this case up, and with a target as the same length of the flagpole (the move before the flag pattern)
Entry is within the flag pattern.
Stop is below the flag breakout.
Flags can also breakdown, so you need to honor your stops.
We had a breakout in BCH Bitcoin Cash and then it pauses to take a breath and consolidate in a pattern that we call a flag or penant pattern.
We can expect a breakout in the direction of the trend, in this case up, and with a target as the same length of the flagpole (the move before the flag pattern)
Entry is within the flag pattern.
Stop is below the flag breakout.
Flags can also breakdown, so you need to honor your stops.
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Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
Support me with these referral links:
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.