The infamous high and tight flagpole pattern, Bulkowski's number one rated performing chart pattern. Appears on 4 hour chart. I also would suggest trading off of this chart for a longer swing style trade. Follows all the rules so far to a perfect HTFP; roughly 45 degree A to B impulse leg, tight downward sloping flag, B to C leg (or the flag itself) hasn't retraced to 36% yet, and the pattern has formed after a long downtrend.
BUY: only if the price breaks the highest high of the flag pole pattern
SELL: only if the price forms a bullish engulfing candle on the bottom trendline showing a breakout to the downside
BUY: only if the price breaks the highest high of the flag pole pattern
SELL: only if the price forms a bullish engulfing candle on the bottom trendline showing a breakout to the downside
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.