The Flag pattern is one of the best-known continuation pattern in trading which happen after an uptrend.On-chart you can see a good pump and after a minor consolidation zone.This consolidation zone is important to calm down slowly indicators and calm volume,after this step we can see a growth of volume and a breakout
What is the target of a bullflag?
The first target of confirmed can be derived from measured move tehnique.The first target of bullflag is the vertical distance between the lower and the uper point of flag
The second target is the size of the FLAGPOLE(measure the flagpole size and you will put this size at the breaking point from the bullflag
It s important to book some profit also after the first target(size of flag).
If the flag during too much will fail.Keep your eyes on it all time and have a stop-loss
Have fun and good luck!
What is the target of a bullflag?
The first target of confirmed can be derived from measured move tehnique.The first target of bullflag is the vertical distance between the lower and the uper point of flag
The second target is the size of the FLAGPOLE(measure the flagpole size and you will put this size at the breaking point from the bullflag
It s important to book some profit also after the first target(size of flag).
If the flag during too much will fail.Keep your eyes on it all time and have a stop-loss
Have fun and good luck!
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