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Bullflags

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
SP500 a bullish confluence 🦐SP500 on the 4h chart after the last impulse, retraced inside a bull flag. The market bounced over the 0.618 and according to Plancton's strategy, if the conditions will be satisfied, we can set a nice long 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. Leave a comment that is helpful or encouraging. Let's master the markets together
OANDA:SPX500USDLong
by InkyGrip
12
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
AUDNZD will move higher? 🦐AUDNZD is moving within a range between 2 structures. The price formed a slightly declining channel. According to Plancton's strategy if the conditions will be satisfied we will set a nice long 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. Leave a comment that is helpful or encouraging. Let's master the markets together
Long
by InkyGrip
6
DAX looking for fresh highs 🦐After our last idea on this pair, moved up as expected. The market created and broke a bull flag and recently broke above the resistance around the 14k level. We can expect to remove higher and if the condition of the Plancton's strategy will be satisfied we will consider a new long position. ––––– 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.
DLong
by InkyGrip
6
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
EURCAD on a bull flag 🦐EURCAD after the double bottom at 1.54300 moved in a nice impulse until the 1.57800 area. The price from there starts a retracement move inside a channel. Currently the price touches the 0.618 and if the rules of Plancton's strategy will be satisfied we can place a nice long 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
12
TWTR - bull flagTWTR has been relatively unscathed in the general market sell off the past week. Instead of steep pullback experienced by other stocks, it formed a bullish flag instead. I am still in this trade and waiting patiently for the next up leg. Stop Loss just below the 50% retracement @ 51.20 Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
NYSE:TWTRLong
by Juliac