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Bullflags

$BTC in a Weekly Bull Flag since April 2019? Target $18k in Oct!Hi everyone, Here's another update on Bitcoin on the Weekly Chart! After completing the flag pole in June, Bitcoin may be in the process of completing the bull flag structure as it continues downtrending to $8.5k. A simple extrapolation target of this bull flag sets Bitcoin at $18,200 in mid-to-late October 2019. This is inline with our ultimate EOY target of $40k per Bitcoin. We all know how Q4 tends to be the most parabolic and bullish season of the year, particularly November and December. Let's see how this plays out! Cheers, Leb Crypto
BITTREX:BTCUSDLong
by Leb_Crypto
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