THE BEARISH FLAG PATTERN
With its shape and looks, it is clear with the breakout to the downside of the bearish flag.
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.
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.
Breakout downward 40% of the time.
SHORT:
Sell: 1.28955
Buy:1.28696 down to 1.28441
Stop loss:1.29238
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.
With its shape and looks, it is clear with the breakout to the downside of the bearish flag.
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.
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.
Breakout downward 40% of the time.
SHORT:
Sell: 1.28955
Buy:1.28696 down to 1.28441
Stop loss:1.29238
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.