PRICE ACTION
• A steep downwards price action initiates from (1) till finding first resistance (2), creating the flag's pole.
• Price action reverses direction from (2) and forms higher lows and higher highs in a narrow flag formation till it finds the highest support in the formation at point (3).
• The pattern is completed when price action reverse direction from the last touch to the upper flag border and goes downwards till it breaks the lower border at point (4).
• A steep downwards price action initiates from (1) till finding first resistance (2), creating the flag's pole.
• Price action reverses direction from (2) and forms higher lows and higher highs in a narrow flag formation till it finds the highest support in the formation at point (3).
• The pattern is completed when price action reverse direction from the last touch to the upper flag border and goes downwards till it breaks the lower border at point (4).
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.
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.