HUGE breakout on DOGECOIN right around the corner
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KEY TAKEAWAYS
A flag pattern, in technical analysis, is a price chart characterized by a sharp countertrend (the flag) succeeding a short-lived trend (the flag pole).
A bullish flag appears like an upright flag on a price chart, with a rectangular price pattern marking the flag itself.
The tighter the flag, the better the signal is said to be.
Flag patterns have five main characteristics:
1.The preceding trend
2.The consolidation channel
3.The volume pattern
4.A breakout
5. A confirmation where price moves in the same direction as the breakout
How reliable is a bull flag pattern?
Flag patterns are considered to be among the most reliable continuation patterns that traders use because they generate a setup for entering an existing trend that is ready to continue. Flag formations are all quite similar when they appear and tend to also show up in similar situations in an existing trend.
KEY TAKEAWAYS
A flag pattern, in technical analysis, is a price chart characterized by a sharp countertrend (the flag) succeeding a short-lived trend (the flag pole).
A bullish flag appears like an upright flag on a price chart, with a rectangular price pattern marking the flag itself.
The tighter the flag, the better the signal is said to be.
Flag patterns have five main characteristics:
1.The preceding trend
2.The consolidation channel
3.The volume pattern
4.A breakout
5. A confirmation where price moves in the same direction as the breakout
How reliable is a bull flag pattern?
Flag patterns are considered to be among the most reliable continuation patterns that traders use because they generate a setup for entering an existing trend that is ready to continue. Flag formations are all quite similar when they appear and tend to also show up in similar situations in an existing trend.
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