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Understanding the Flag Pattern - DEEPAKNTR A flag pattern is a continuation pattern that indicates a brief consolidation before the previous trend resumes. It's characterized by a strong price move, followed by a period of consolidation, and then a breakout in the same direction as the initial move. Characteristics of a Flag Pattern: Flagpole: This is the initial strong price movement that forms the pole of the flag. It often occurs with high volume. Flag: The consolidation phase that resembles a rectangle or a parallelogram, usually sloping counter to the initial trend. Breakout: The resumption of the trend, breaking out from the consolidation phase in the same direction as the flagpole. Flag Pattern in DEEPAK NITRITE LTD Chart In the DEEPAK NITRITE LTD chart: Flagpole: The initial strong upward movement (represented by the orange ascending trend line) is the flagpole. Flag: The recent price channel (highlighted by the parallel blue lines) represents the flag, indicating a consolidation phase. Breakout Potential: Given the high volume during the upward moves and lower volume during pullbacks, a breakout above the flag's upper boundary could signal the continuation of the upward trend. Conclusion Flag patterns are powerful indicators of trend continuations. In the case of DEEPAK NITRITE LTD, the identified flag pattern suggests that the stock may continue its upward movement after this period of consolidation. Keep an eye on the breakout above the flag's upper boundary for potential trading opportunities. Happy trading! 🚀📈 If you need further insights, feel free to follow me! 😊
NSE:DEEPAKNTR
by stocktechbot
Some thoughts and possible targets of Bitcoin $BTC (BTC/USD)BTC is at the top of this massive bullflag (again) where BTC is in now for 32 weeks. October is half way and the Halloween effect is knocking on the doors. Good time to look ahead. Scenario A: Bullish When BTC breaks out of the bullflag and get (and stay) above the ATH level we enter the uncharted territory. This is where the Extended Fib tool comes in place giving us guidance. Target 1: When BTC breaks major resistance and stay above, my first local target will be around 80k. This target comes from the extended fib of this recent rally. I have hidden this ext-fib to make the chart more clean. Target 2: My second target is around 96k. This is the 2.618 level of the major extended Fib AND the target of the major pole trade measured from around 27k, all the way up to ATH end of the pole of the recent bullflag. When I take that pole and extend it from the bottom pricelevel of the bullflag (50K). The target point of the extended fib and the target of the pole trade match exactly. This almost can't be a coincidence ;-) Target 3 & 4: When price breaks the psychological level of 100k my future targets are around 118k (3.618 extended fib) and ultimately 130k (4.236 extended fib). Scenario B: Bearish If price fails to set a new ATH at the major resistance AND sets a lower high and lower low, BTC is going to see lower levels most probably. This will make this whole thing a Wyckoff distribution setup.
BITSTAMP:BTCUSDLong
by HardFork_Cafe
Bitcoin: Potential Breakout from Bull Flag PatternWe definitely need to keep a close watch on Bitcoin over the next few days. The price is currently stuck in a bull flag, and a break of the trend line, which is around the 68k mark, could signal the resumption of a bullish push. The challenge with this pattern is that the trend line varies slightly depending on who draws it, but it generally sits between 67k and 68k. A better but later confirmation, could be a break above the July 29 high at 70k. The pattern suggests that price could reach 83k, or even higher, depending on different interpretations. So, it’s crucial to keep an eye on Bitcoin in the coming days. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
THINKMARKETS:BTCUSDLong
by ThinkMarkets
2
Altlayer (ALT) 80% Bullflag extensionOn the above chart price action has corrected 30% since late September. A number of reasons now favour a long position, including: 1) Price action and RSI resistance breakouts. 2) Trend reversal. Higher highs higher lows. 3) Support on past resistance. (yellow arrows). 4) The bull flag confirmation forecasts an 80% impulsive move. Is it possible price action corrects further? Sure. Is it probable? No. Ww Type: trade Risk: high Timeframe to long: this week Return: 80%
Long
by without_worries
Bitcoin will break 7 month Bullish Flag?Hey traders! Here we are, as we thought we touched 59K and we came up. And we're still moving in a long 229 day bullish flag, and hopefully we could break it soon. The next resistance target is around 68K and if we're going to break this level, plus volumes will confirm and will see short correction if RSI will be oversold we can go upwards strongly! But don't forget to pay attention for 1 Day MA which is still bearish, volumes that are still descending and RSI. What's your thoughts?
Long
by SheTradesHub
Chiliz (CHZ) 100x Bull flag?Yes, 10,000%. On the above 12 day chart price action has corrected over 60% since March. A number of reasons now exist for a long position. They include: 1) Price action and RSI resistance breakouts. 2) Support confirmation. Orange arrows. This is called a double bottom. 3) Trend reversal. A higher high has now printed just like the one before it in August 2020 on this time frame. 4) Hook reversal pattern, look left! Students, you know why this is important? 5) The bull flag. Confluence is paramount when drawing flag patterns. I see so many poorly drawn flags on tradingview ideas. Confluence refers to the number of times price action touches the boundaries of a channel. The more times this happens the more significant the channel for use in forecasts. A repeat for the 2020 impulsive wave takes price action to the $5 area or 100x. Is it possible price action corrects further? Sure. Is it probable? No. Ww Type: trade Risk: all in. You decide. Timeframe for long: This month Return: 80 - 100x
Long
by without_worries
16
Seagate May Be Fighting HigherSeagate Technology has been climbing for more than a year, and now some traders may see potential for a breakout. The first pattern on today’s chart is the $104.76 level, a closing peak in late August. The data-storage stock tested and held it this week. Has old resistance become new support? Second, that same price area is also near a 50 percent retracement of the move between Friday, September 6 and Thursday, September 24. That may confirm its short-term direction is pointing higher. Third, the recent series of lower highs may be viewed as a bullish flag with breakout potential. Finally, the 8-day exponential moving average (EMA) is above the 21-day EMA. That may reflect a bullish short-term trend. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. If you're born to trade, we could be for you. See our Overview for more. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
NASDAQ:STX
by TradeStation
Heading Into Earning With a Bearish FlagNASDAQ:ASML a leading chipmaker is showing an interesting pattern! In the short term, momentum appears bullish as the price has crossed the 20 SMA and is approaching the 50 SMA, with analysts expecting positive earnings. However, on the daily and weekly charts, a bearish flag pattern is forming, which suggests a potential downtrend. If the price breaks above the 849 resistance, the bullish momentum could continue, but if it fails, the downtrend may push the price towards the 775 support level.
NASDAQ:ASML
by David_SpotTheTrend
2
PARAGMILK BullishFLAG&POLE 3Y4M BObon DTF/WTF SWING/POSITIONALSTOCK Analysis TRADE PLAN ENTRY -211/220 SL -195 TARGET --01-263 , TGT02--354 Hold For a Year or TGT 2 Chart Pattern : STOCK has recently broken out STRONG of a Flag Pattern on the DTF/WTF. INDICATORS EMA : The Price is Currently Trading above 20EMA, 50 EMA is lower than 200EMA in DTF. 20 EMA Has just crossed over the 50 and 200EMA indicating a Bullish Trend. STOCK EMAs are currently in process of aligning in a ascending order, indicating a transition from a Bearish Short Tem trend to bullish Trend on DTF/WTF. FIBO E : Marking the FIBO Retracement on the Last Downtrend , The Prices has crossed 50% FIBO Retracement Level TODAY , with ChoCH at 192 on DTF and 211 on WTF.. Volumes: There is a uptrend in Volume on the Weekly Charts for 3 Weeks after the 32 weeks Retracement from the 11Months Bullish Streak. Keep in your Priority Watch List Disclaimer: For Education/Reference Purpose Only, Trade at your Own Risk with correct position sizing and SL based on your Risk apetite (Exit when price closes 7to8% below your Entry). Trail Your SL progressively. Learn/Know and Review the Stock trading Technical Terminology. Check Verify the Financial fundamentals of the Stock and Seek Advice from a Certified Financial Advisor prior to Investing. Prefer Entry with 25% quantity, Add in Tranches of 25%-50% as prices moves upwards recommended. MTFA- Multiple Time Frame Analysis DTF -Daily Time Frame WTF-Weekly Time Frame MTF- Monthly Time Frame ATH-All Time High LTH -LifeTime High RBC&H-Rounding Bottom Cup/Handle BO- Breakout Close EMA -Exponential Moving Average FIBO R/E -Trend based Fibonacci Retracement/Extension SL Stop Loss TBD- To be Decided CHoCH- Change of Character Bullish/Bearish MSB/BOS -Break Out Structure FVG Fair Value Gap 20VMA -20Volume Moving Average SWING/POSITIONAL Trade
NSE:PARAGMILKLong
by billpramod