The downside continues as more and more bear flag pattern shows up.
THE BEARISH FLAG PATTERN
Flags appear as small rectangles usually tilted against the prevailing price trend and mounted at the end of a flagpole. If you don't have a straight-line (or a quick move) price run (the flagpole), then you don't have a flag. The best performing flags have a long, near vertical flagpole.
This bear flag is called THE TIGHT BEARISH FLAG PATTERN.
A tight flag performs better than a loose one. A loose flag is one in which price meanders, pokes outside the trendline boundary, contains white space, or looks jagged.
Price trend can be any direction leading to the chart pattern. Shape looks like a small rectangle often tilted against the prevailing price trend.
Price moves between two parallel, or near parallel, trendlines. Flags are short, less than 3 weeks long. Patterns longer than that are rectangles or channels.
The flagpole which leads to the flag should be unusually steep and last several days.
Volume trend downward 78% (down breakouts) of the time. The breakout just happened and needs to close at this level before any trader can take a position.
TARGETS FOR PROFITS ARE:
$30.4 down to $28.7
Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.
THE BEARISH FLAG PATTERN
Flags appear as small rectangles usually tilted against the prevailing price trend and mounted at the end of a flagpole. If you don't have a straight-line (or a quick move) price run (the flagpole), then you don't have a flag. The best performing flags have a long, near vertical flagpole.
This bear flag is called THE TIGHT BEARISH FLAG PATTERN.
A tight flag performs better than a loose one. A loose flag is one in which price meanders, pokes outside the trendline boundary, contains white space, or looks jagged.
Price trend can be any direction leading to the chart pattern. Shape looks like a small rectangle often tilted against the prevailing price trend.
Price moves between two parallel, or near parallel, trendlines. Flags are short, less than 3 weeks long. Patterns longer than that are rectangles or channels.
The flagpole which leads to the flag should be unusually steep and last several days.
Volume trend downward 78% (down breakouts) of the time. The breakout just happened and needs to close at this level before any trader can take a position.
TARGETS FOR PROFITS ARE:
$30.4 down to $28.7
Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.