- Price is currently at trendline resistance level
- At the same time, a bearish bat pattern has completed
- RSI is also at overbought level
- Good R:R at 1.8 (TP1) and 3.1 (TP2)
Wait for current candle to close and observe the next candle.
Bình luận:
Spotted a bullish bat pattern completed on H1 chart, check it out.
I am now looking to long instead as I have spotted a bullish flag pattern.
How to trade the bullish flag pattern?
1) First identify an instrument in a strong up trend (flag pole)
2) This price consolidation becomes the ‘flag’ of the pattern
3) If the retracement becomes deeper than 50%, it may not be a flag pattern
4) Look for prices to break higher with a length equal to the size of the flag pole