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Bullflagpattern

NEOBTC – Another bullflag? 🦐IF $NEO.X will have a breakout upward and flip the 4h resistance into new support, According to Plancton's strategy (check our Academy), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
11
Gold Still Trending Inside Bull FlagGold price has created a descending parallel channel on the chart, and since it occurred after a significant move up it is more commonly referred to as a ‘bull flag’ due to the overall structure of the move resembling that of a pole and flag. The anticipated move here if price can remain inside of the upper half of the bull flag is a continued move higher and a break through and above the upper channel line. Should that happen price will likely march back up to test the recent all-time high made on Aug 10th of $2075/oz, which I’d expect to be taken out and a new all-time high near $2200/oz be made based on other charts that will be shared later with more detailed analysis. Looking back at 2020 gold price performed extremely well, gaining roughly +43% from the March lows near $1450/oz to the August high of $2075/oz. I’d attribute most of those gains to gold being a fear hedge during times of uncertainty in markets, which we saw plenty of in 2020. Gold also by nature performs well when the underlying currency it is priced in is being inflated(money printing). With a new round of $600 checks recently having been sent out by the outgoing administration, and $1400 checks on the way from the incoming administration, gold should continue to outperform over the next few years as stimulus checks and corporate bailouts appear to be the new norm and a necessity for the economy during these unprecedented times. Regardless of the reason, money printing is inherently bullish for gold so physical and mining shares will continue to be a portion of the portfolio.
FX_IDC:XAUUSDLong
by PrepForProfit
Bull flags explainedBull Flags are one of the most well known & easily recognized chart patterns. The most important factor in identifying any flag pattern is the clear "staff" or "flagpole"; there should be a straight run upwards leading up to the pattern or it is not a valid pattern. After the straight run upward price starts to Zig Zag between two converging trendlines forming a tight wedge (it can be slanted, or even symmetrical) until the price "breaks out" above the upper trendline signifying a possible continuation in trend upwards. Bull Flags have the highest success rate out of any pattern and work extremely well when paired with long term support & resistance areas. Enter at the invalidation point of the pattern (A), second entry on the bullish retest (B). Pennants that are “tighter” have higher success rates, look for patterns forming on top of long term resistances (not below) to increase probability of success also. Pattern height is measured and added to swing low before breakout for possible target. Sometimes large size traders can generate liquidity by faking out under the pattern support as we can see on some of the examples. The liquidity generated by triggering stop losses underneath the pattern can fill large position sizes for whales and is a good indicator for a long position once the price confirms support back inside the pattern.
Education
by Worth_The_Ri5k
Bullish Pennant for Bitcoin?Bitcoin has been creating so many moderately predicable bullish patterns, however, it's tricky swing trading due to fake-outs occurring regularly. Clearly, BTC is trading in a Bullish Pennant, however, that's always subject to change if the green upward sloping support of the pattern doesn't hold. I have colored the bullish pennant green for ease of visualization because I like leaving previous patterns on my chart to get a sense of the Macro trading environment and areas of confluence, looking back at patterns in hindsight can be a learning experience, no matter how good you are at trading there's always more to learn, especially trading crypto. RSI is showing a descending triangle with a noticeable bearish divergence. since Jan 5th we've seen the price rise but the RSI traded sideways and downward creating lower high after lower high... It's very likely the bulls defend the bottom area of the descending triangle, expect a bounce near term. The KST's seen a bearish cross & is trading in a not so perfect descending channel, I am expecting a bullish cross near term because we're oversold and it would characteristic given the trend thus far.
COINBASE:BTCUSDLong
by ScotianBot
SIEMENS - Bull Flag Breakout with Good Volume support - SwingThis analysis is done purely on basis of price action and chart patterns Analysis is done on Daily TF hence it may take few days to few weeks for price to reach the given target. This is not a trade recommendation. Do your own study before entering into any trade. Trade with your own risk & money management. Feel Free to comment for any query or suggestion. Check below in the image, the previous idea/set up in the same stock (for understanding another price action chart pattern.
NSE:SIEMENSLong
by AdityaKarn90
RLCUSDT is testing 4h resistance 🦐$RLC.X IF the price will have a breakout from bull flag, According to Plancton's strategy (check our Academy), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
6
Gold bugs, we took a huge hit today...Nice day for the dollar, non-ideal for us in gold longs. Gold took a steep dive today. Why? Jobs report did not come out hot indicating the recovery is going to take longer potentially The dollar actually rose today, and I am assuming that this was driven a bit because of the jobs report. TIP also dropped today (iShares TIPS Bond ETF) People may be pulling out of gold into risky assets such as Bitcoin ... Tesla? Some things to keep in mind here. My thoughts on Gold Strong day for the dollar Still appears to be creating a mega bull flag Strong macro factors at play Rates low for years, and I commented earlier that the FOMC targeting 2% is not going to be an inflation expectation to cause a parabolic run in gold, but when viewing the yields on holding digital dollars like CircleVisa's USD Coin (USDC now has a market cap aiming at $4 billion) we see yields being offered for holding this dollar at 1-1 parity with US Dollar yielding rates of 7-10%. This I think is a good indicator of where real inflation somewhere is. Gold bugs have the gold salesman Peter Schiff converting Bitcoin bulls to get out of crypto & into gold ... /sarc :) In reality I wonder if we are seeing an exodus out of gold into the growing market cap of bitcoin. The utility of Gold is to preserve wealth against inflation, while bitcoin is literally in a state of being parabolic right now. (Love BTC and am also heavily long it) New administration will no doubt be providing added easing/stimulus
OANDA:XAUUSD
by ZenMode
1
BNBUSDT 45$ soon? 🦐$BNB.X had a breakout from a bull flag, and now the price is testing 4h resistance, IF the price will break the resistance According to Plancton's strategy (check our Academy), we can set a nice order ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
8
SHREECEMENTS - Bull Flag + Double Bottom - SwingThe above analysis is done purely on basis of Price Action & Chart Patterns. The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets As can be seen in the image, price has given clear breakout from Bull Flag Pattern with good volume confirmation. Breakout from Double Bottom pattern is yet to occur. Entry can be made above the high of breakout candle. SL and Targets are shown in image itself. The above analysis is purely for educational purpose. Traders must do their own study before entering into any trade. Traders must trade as per their own risk taking capacity and money management. Feel Free to comment for any queries regarding the above stock or price action analysis in general. Also check out my other ideas to understand how price action works and how it can be used to make regular profits without any complex strategies.
NSE:SHREECEMLong
by AdityaKarn90
Apple on the verge of a massive flag breakoutNASDAQ:AAPL Apple is on the verge of a massive upside Bull Flag breakout on the 1W chart. Price is currently above the 200 Day SMA (historically bullish) and if we look at the weekly trend and don't fight it, we can see that the trend is currently clearly up. I see this flag breakout as a bullish continuation, with the ultimate price target being $220 (height of the flag pole). Couple this technical picture on a HTF chart with Apple's amazing fundamental tailwinds in the next 6-12 months (5G super cycle), I see us hitting the $220 target by Q1 2021. Not financial advice, but I will be positioned with long-term calls and adding to my overall investment portfolio here. - PennyBag
NASDAQ:AAPLLong
by PennyBagsCapital
2