This pattern has a familiar look to a bear flag ( shows a rising wedge 19h chart, while a bear chart pattern is evident in the daily chart.
During the formation, there are a few indicators that can be used to determine whether the pattern is a real pattern or a disguise.
As this formation progresses, it is a favorable signal if the volume is decreasing. That’s because it would show a divergence between price and volume, adding evidence that a reversal may be imminent.
During the formation, there are a few indicators that can be used to determine whether the pattern is a real pattern or a disguise.
As this formation progresses, it is a favorable signal if the volume is decreasing. That’s because it would show a divergence between price and volume, adding evidence that a reversal may be imminent.
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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.