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Bullflags

AUDNZD 1D BULL FLAG BULLISH CHART PATTERN LONG BIASPrice has created a Bull Flag chart pattern which has a Bullish bias (LONG TRADE). Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart ). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending volume bars and descending atr line (which indicates volatility ) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of average volume for a full position size. b - If 75% of average volume then ½ position size. 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
Long
by Tradingstrategyguides
BTC... PERFECT BULL FLAG FORMATION looks like everyone stopped calling 15k and 16k and new ATH targets ! WHY 15-16k target now ? 1- This idea is pretty contrarian now while many waiting for that 8400 target ! 2- bull flag formation after a strong rally is an indicator for continuation. 3- altcoins carnage with many hitting daily 200 MA and below. 4- Because WHY NOT ! Unless market is looking for double bottom for alt coin market I expect this is just a final shakeout out followed with sideway move for alts while btc continues to new yearly highs. (check 2015-2016 for similar pattern) (PLEASE NOTE THIS IS NOT A TRADING ADVICE ITS JUST AN IDEA SO PLEASE TRADE AT YOUR OWN RISK!)
COINBASE:BTCUSDLong
by elshanti
7
CAD/CHF SETUP (DAILY) - POSSIBLE ENTRY, STOP LOSS INCLUDEDHello all! I have another setup for you this morning. As you can see on the Daily chart, a bull flag has formed for this pair. We will be interested in entering long on a breakdown of this flag. So far today, price has supported the upside momentum we are looking for, however, this should be sustained throughout the day in order to maintain our bullish bias. _____ (possible) Entry: (1) Use Yesterday's High as a trigger for entering this trade; OR (2) Wait to see whether upward momentum is sustained today, and enter on upside momentum tomorrow (however, make sure price isn't extended at that point) (possible) Stop loss: 0.7544 (possible) Take profit: Take partial profits at the pivot high of the trend leg - 0.7612 - from there after trail stops. _____ Remember, only use this trade idea in line with YOUR OWN trading strategy. This is the bare bones of an idea that should only be implemented in conjunction with your own trading system. Also, PLEASE KEEP IN MIND the economic data concerning Canada that will be coming out this morning. This may cause whiplashes or a reversal in the trade. Happy trading!
Long
by alexkrec
Massive Ascending Triangle or Bull Flag? New ATH's OR Double TOPIn my previous post i talked about #BitcoinForPresident potentially trading in a Bullish Flag or Ascending Triangle, the bull flag ripped to the downside almost immediately after posting, but the ascending triangle on a larger time frame may play out perfectly. I've extended the green upward sloping trendline that was once a symmetrical triangle / pennant pattern, and adjusted it downward slightly, and a perfect ascending triangle / bullish flag pattern is noticeable. Linked to this post is where I mentioned the ascending triangle the other day, now that a few days have passed it's more clear on a larger time frame. Time will tell per usual.
COINBASE:BTCUSDLong
by ScotianBot
6
Bull Flag on GLD or GoldWe seemed to break out above the flag today after the FED confirmed rate cut which is bullish for Gold. The volume on this bull flag is perfect, you can see volume was moving higher on the flag pole, then dropped on the flagging, and is now moving up on the flag pole up. Confirmation is above $135 my measured target is $140.22. From here that is roughly a 5% gain and the last move up took place over only 6 days. If you want to trade this set stop at $131.75 which is roughly 1% downside risk give this trade a 5:1 risk reward ratio.
AMEX:GLDLong
by rjchilia123
BTC is in indecision area, what are supports and resistances?BINANCE:BTCUSDT This analysis follows the last analysis (), where BTC fell to ($9,950 - $10,800) area, with a wick down to $9,500. From now, BTC runs to the end of the bull flag pattern, confirms by RSI indicator. It says BTC will have chance to break $11,800 strong resistance this week. Unfortunately, momentum decreasing prevents BTC to go up hard. BTC needs more catalyst and fomo to push the price up to the last peak at around $14,000. From my thought, BTC will range between $11,000 and $13,000 this week, leaving more room for altcoins to fly. We are so close to alt season, this time is not the time mentioned but next week. Supports and resistances are as shown in the chart.
by Batrachotoxin
2
WTF happens next?!There's a lot going on here, so bear with me (no pun intended...). First off, take a look at the two channels that I've drawn. We started this decline with a fairly steep downtrend channel. We broke out of that channel to begin a less steep downtrend channel. The bears are winning but their momentum is slowing... You'll also notice that we are near the top of that downtrend channel, which suggests that we're either getting ready to pop out of it again or headed down to the bottom of the channel. Now take a look at the red line at 11,500. This line began with a double top back in early 2018 just as the bears were building up steam. It is also the support line of the first red candle that started the downtrend. We've been bouncing around that line in a pitchfork with the center-line just below this red line. This red line is also slightly below the 0.5 fib (Although you could argue that the red line should be on the 0.5 fib; I chose this line because it's a psychological number and because of the candle support). This is another sign that we're ready to break out on the upside or down to the next support levels of 10,600 or even 9,800. Another signal that has me thinking we could go either way from here is that we are right in the middle of the general growth channel of Bitcoin that began all the way back to the beginning of the Coinbase chart. I'll talk more about this in a later post. While we are in the middle of the chart and moving horizontally, we are actually moving down relative to the slope of the channel, which is another indicator that the bears are winning. Lastly, I see a bull pennant formed by the top of the current channel and a trendline that began after the spike up from 9800. This suggests to me that the bulls have more to run. The good news is that we will know which way this market is going in just a few days (before July 10). So we can make our next move based on whether we exit this flag on the upside or the downside. If I were a betting man (which I clearly am if I'm investing in crypto!), I would say that our position inside the general growth channel is in our favor for continued long term growth of BTC. Also, the changing slope of the downtrend channel has me thinking the next slope will be higher still. Furthermore, it took about 5 days to break out of the previous channel and here we are again 5 days later approaching the apex of the bull flag. Note that the apex is also in the middle of 0.5 fib and 11,500. Working against us are the large pumps and dumps that occur due to small volumes as well as the fact that the market seems to go against general expectations. One last note: Longs currently outnumber shorts by 2:1 on Bitfinex. A movement to the low-side could snowball as those margins are called and stop-losses are triggered. That's a tempting proposition for someone with enough capital to move the price in that direction. Long story short: I'm invested for the long run with some cash on hand to grab more if prices drop.
COINBASE:BTCUSDLong
by quickshoe
2