The pattern is clean. We are currently forming a bear flag.
The declining volume suggests that there is an imminent move.
The bear flag can be a really powerful pattern and someone who's able to spot it and then trade it can make some money
Bear flag Statistics:
Break-even failure rate: 2% in a bull market; 0% in a bear market
Average decline: 16% in a bull market; 25% in a bear market
Pullbacks: 46% in a bull market; 44% in a bear market
Percentage meeting price target: 47% in a bull market; 54% in a bear market
The declining volume suggests that there is an imminent move.
The bear flag can be a really powerful pattern and someone who's able to spot it and then trade it can make some money
Bear flag Statistics:
Break-even failure rate: 2% in a bull market; 0% in a bear market
Average decline: 16% in a bull market; 25% in a bear market
Pullbacks: 46% in a bull market; 44% in a bear market
Percentage meeting price target: 47% in a bull market; 54% in a bear market
Note
Take profit 1: ✅Note
Take profit 2: ✅Trade closed manually
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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.