HBAR Weekly Bear Flag Broken, Retest or Cont. Fib Targets?
Bear flag trading is a technical analysis pattern used by traders to identify potential continuation of a downtrend in the financial markets. The pattern consists of two main components:
Flagpole: This is the initial sharp decline in price that creates a steep and rapid movement downward. It represents the strong selling pressure in the market.
Flag: Following the flagpole, the price enters a brief consolidation phase where it moves slightly upward or sideways within a parallel channel. This movement often takes the shape of a small rectangle or parallelogram that slopes against the direction of the previous decline (hence the "flag" shape).
Characteristics of a Bear Flag
Flagpole: A steep and strong decline in price.
Flag: A consolidation phase where the price moves in a small upward or sideways channel.
Volume: Typically, volume decreases during the formation of the flag and then increases again when the price breaks out of the flag pattern in the direction of the initial decline.
How Traders Use Bear Flag Patterns
Entry Point: Traders often enter a short position when the price breaks below the lower boundary of the flag, anticipating that the downtrend will continue.
Stop Loss: A stop-loss order is typically placed just above the upper boundary of the flag to limit potential losses if the pattern fails.
Profit Target: The profit target is usually set by measuring the length of the flagpole and projecting it downward from the breakout point of the flag.
Flagpole: This is the initial sharp decline in price that creates a steep and rapid movement downward. It represents the strong selling pressure in the market.
Flag: Following the flagpole, the price enters a brief consolidation phase where it moves slightly upward or sideways within a parallel channel. This movement often takes the shape of a small rectangle or parallelogram that slopes against the direction of the previous decline (hence the "flag" shape).
Characteristics of a Bear Flag
Flagpole: A steep and strong decline in price.
Flag: A consolidation phase where the price moves in a small upward or sideways channel.
Volume: Typically, volume decreases during the formation of the flag and then increases again when the price breaks out of the flag pattern in the direction of the initial decline.
How Traders Use Bear Flag Patterns
Entry Point: Traders often enter a short position when the price breaks below the lower boundary of the flag, anticipating that the downtrend will continue.
Stop Loss: A stop-loss order is typically placed just above the upper boundary of the flag to limit potential losses if the pattern fails.
Profit Target: The profit target is usually set by measuring the length of the flagpole and projecting it downward from the breakout point of the flag.
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