Bullish flag formations are found in stocks with strong uptrends and are considered good continuation patterns.
What makes this Bull Flag a strong continuation signal is the fact that it had a 3 Inside Red Candles (Oct 30, Oct 31, Nov 1).
Bull Flags are 67% reliable and with the 3 Inside Red Candles Continuation Candlestick Pattern, this makes a perfect setup for Bitcoin to tackle the All Time High again.
As important as the entry, having an exit strategy is crucial because from my experience, 70% of bull flags to retrace a good amount after reaching the measured move.
Entry possibilities:
bottom of the flag
Breakout of the flag
Retest of the Breakout
StopLoss:
Below the flag
Target:
50% of the pole and 90% of the pole after breakout.
Happy trading.
Please support our work with like and comments.
#BTC #BITCOIN #CRYPTO #CHARTPATTERN
What makes this Bull Flag a strong continuation signal is the fact that it had a 3 Inside Red Candles (Oct 30, Oct 31, Nov 1).
Bull Flags are 67% reliable and with the 3 Inside Red Candles Continuation Candlestick Pattern, this makes a perfect setup for Bitcoin to tackle the All Time High again.
As important as the entry, having an exit strategy is crucial because from my experience, 70% of bull flags to retrace a good amount after reaching the measured move.
Entry possibilities:
bottom of the flag
Breakout of the flag
Retest of the Breakout
StopLoss:
Below the flag
Target:
50% of the pole and 90% of the pole after breakout.
Happy trading.
Please support our work with like and comments.
#BTC #BITCOIN #CRYPTO #CHARTPATTERN
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