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Bullflags

Micro Bullish Flag or H&S? It appears as though a bullish flag is forming for Hive. KST is about to cross bearishly indicating there is potential for further downside action. I have placed three blue finger icons that represent previous examples of micro head and shoulder patterns, the dark blue human icon is the head of potentially a Macro H&S and the two fingers would be the shoulders. In dark green there's merit for a Macro Ascending Triangle, price target of approximately 1 dollar CAD if the pattern plays out bullishly.
TSXV:HIVE
by ScotianBot
Platinum looks like it's trading in a long term bull flag. I find it hard to believe this pattern is a descending triangle, we've just seen the dark blue baseline of the pattern hold support, considering the Macro environment I'm expecting this pattern to finish with a bullish outcome. The RSI is slowly starting to create a Macro higher high, if we see the RSI continue to creep above the blue line we will see some strong price action to the upside, potentially parabolically given how other metals like gold, silver & palladium have been trading recently. The DPO is closing above 0 for the first time since roughly 2012, we have seen the DPO touch 0 multiple times over the years but the DPO has never really closed above it since 2010 until more recently, very interestingly bullish. It's always possible this pattern plays out bearishly, nobody knows for sure, safe trading.
TVC:PLATINUMLong
by PrivyCapital
Bitcoin looks ready to break out of a BULL FLAG!Keep an eye on the RSI, if the price breaks out of the bullish flag & the RSI doesn't break the downward sloping resistance to create a higher high than there will be a clear bearish divergence. The DPO is starting to creep above the red downward sloping line of resistance, potentially indicating there is more upside price action & the price isn't ready to top out. The dark blue line is the price of ETH on coinbase, Ethereum is noticeably taking charge of this bull run, very interesting.
COINBASE:BTCUSD
by ScotianBot
1
Is Canopy trading in a bullish flag?It's very likely this plays out bearishly as a descending triangle, Canopy recently released earnings & the price continued to sell off immediately in the days following, despite the financials improving from previous quarters, and despite strong beverage sales the market seems to favor the U.S focused MSO's at the moment. Canopy will need some compelling news to break this pattern to the upside. Canopy is displaying a Symmetrical Triangle pattern as well, notice the green upward sloping line of support, Symmetrical triangles differ from ascending triangles and descending triangles in that the upper and lower trendlines are both sloping towards a center point. In contrast, ascending triangles have a horizontal upper trendline, predicting a potential breakout higher, and descending triangles have a horizontal lower trendline, predicting a potential breakdown lower. Symmetrical triangles are also similar to pennants and flags in some ways, but pennants have upward sloping trendlines rather than converging trendlines.
TSX:WEED
by ScotianBot
AIONBTC Bullflag after a nice breakout on daily resistance 🦐AIONBTC creates a nice bullflag after breakout on daily resistance (blue one) IF the price breaks the bull flag According to Plancton's strategy, we can set a nice order IF the price retests with success the daily support we can expect a new inpulse ––––– Follow the Shrimp 🦐 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 Plancton0618 strategy will trigger.
ALong
by InkyGrip
2
Aleafia is potentially trading in an Ascending Triangle.AH is forming an Ascending Triangle or potentially a Bullish Flag, the dark green line is the base of either a bullish flag or descending triangle, the dark red line is clearly the downward sloping resistance of the pattern. The dark blue upward sloping line of support has seen multiple bullish reactions upon being tested, I have placed three blue arrows to represent each time we've seen bullish price action upon the blue upward sloping line of support. The blue question mark is where I expect to see another bullish bounce keeping an Ascending Triangle & Bullish Flag intact. Keep an eye on the divergence that will likely emerge on the RSI if another bounce happens in the price & a rejection comes into confluence with the previous two rejections on both the RSI & price.
A
by ScotianBot
Is OSTK trading in a bullish flag or descending triangle? Overstock appears to be trading in a bullish flag or a descending triangle, notice the downward red line of sloping resistance & the green horizontal line represents the baseline of support, but if breached this pattern is likely a descending triangle. If the descending triangle plays out I'd expect to see the blue upward sloping line potentially act as support, this could start to form a ascending triangle depending upon how the bullish construction looks on the chart forms over the next few days.
O
by ScotianBot
2
GBPAUDAfter weeks and weeks of selling pressure, it looks like we are now beginning to see a market correction and new structure form. The previous monthly candle closure suggests the bulls may be ready to kick in and drive the price up. We are also seeing rejection on the daily time frame from the key level of 1.81500 marked indicating failure to close below, this may suggest that price is getting ready for its next bullish move. Looking into the lower time frames we are seeing a bullish flag form, if we manage to break out of this formation we may see a rather aggressive move up. Although my analysis is showing many confluences for a bullish move we cannot be set on one bias especially with the current market conditions, I have illustrated and noted the areas I am interested for either a sell or a buy depending on how the price develops. My COT Data source is showing that 58.7% of commercial players are long on this pair
Long
by AlkalineFX
ROKU Bull Flag/Pennant - Breakout to New Highs?I can't believe I'm saying this, Long ROKU through ER. ROKU Bull Flags/Pennant on multiple timescales: 5min 30min 1hr ROKU has bottomed after completing A-B-C corrective wave within a long term bullish trend. ROKU is growing sales >40% y/y in a pandemic -ad sales >50%- while trading at a relatively subdued multiple to peer-metric stocks (sentiment informs multiple/valuation, not fundamentals today - get that in your head bears). After a nice move to breakout from A-B-C downward channel at $136 (without gap retest mind you - a trend that is becoming more and more familiar for those of you who like to inscribe rules into stone and not look at what the market is telling you: PYPL TWLO TSLA (so far) ZS etc) ROKU is in a bull flag, setting up for a move higher powered by earnings - right? ---Before I go on and on about this trade, I feel it best to say thatI am a ROKU bull if you couldn't tell, and the harshness of my tone is specific to this ticker as I feel it has not received proper respect (multiple) in markets relative to how market chooses to value peers. Having some fun with the 800-pound Bear in the room--- So then, Bears -hello Citron- is it lights out for you? I have a bull flag after a corrective 3 wave down which held lows, broke out of down channel, and maintained macro upward trend. GAME OVER BABY - Right? It's setups like these that make me a bit too hesitant. I am essentially betting that ROKU will beat and raise top and bottom line and show strong demand driven by targeted ads with higher CPM due to programmatic nature of platform (quite a mouthful!) - a move ala PINS; the market has it wrong and just you wait for the multiple change when you see the metrics! This is too binary for me, generally. If I don't get a perfect — for whatever reason, oh, you know, perhaps because GDP declined 9% sequentially or GOOGL (ad company to compare it to) just posted first EVER quarter of negative top line growth — then I'm done for. In fact, ROKU displayed exactly this activity during the downtrend channel last year through this year: it sold the -what I perceived to be- good news and looked for any metric to be bearish on. Notably the market has been overall bearish ROKU since IPO and this has been a key battleground stock. I would throw SQ in with that group as well. Battleground stocks are big opportunities and the long term TAM for ROKU as the winner(s) of the CTV market is huge. Hard to be bearish anything other than simply the idea of AMZN competing. What if there was room for a duopoly? So, of course, the question is - is this a bull trap or the end of the battleground? Are we beginning a strong Wave 1 up, are we in the beginning of Wave 3, or are we at the top of Wave 1 and due for corrective Wave 2 before strong Wave 3 to new highs? (Any -forex?- people that can give insight into my narrative would be appreciated. Just completely tear me apart, that's what'd I'd like: through destructive growth births.) Ok so I'll solve for X. I don't care what the reaction is to the downside because I am fundamentally long the company for years, not just for this ridiculously binary trade (which you'll see, I am in for the speculation, of course), I just need to manage risk well enough that I don't get killed in any knee-jerk pullback that was a bull trap (ala ER in February). To manage risk I cut shares of ROKU and am short Sept $150 puts at cost of $14 as replacement for my stock. Then, I bought August $180c for $5 as a speculative leg of the trade. Net credit is $9 with put sell breakeven above $136 (breakout level) and net b/e above $139 (Also am happy to roll down/out put sells if quarter was a dud). Potential gain is $14 on the sells + difference between realize Aug21 price & b/e which is $185. Stock breaking out to new highs would be above $176.55. With the bull flag that is setting up, I would not be surprised to see a gap to this level and run to $200 on a nice print. $210 even seems in the cards on a change of sentiment but again this is highly speculative and not likely, especially considering ROKU's history. If the print is truly a blowout I'll go into the aftermarket and pick back up my shares there. Happy trading all and always manage risk. Managing risk is what makes trades like this possible to me.
NASDAQ:ROKULong
by UnknownUnicorn7308096
2