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FLAG

Bull Flag On AUD/USD – Wait For A Break And CloseLooking at trading a possible bull flag on AUD/USD today in the 4-hour chart. The bull flag pattern is a simple, easy-to-use strategy. We can see that price had an impulsive move up which formed our flag pole. We had strong bullish volume to accompany this move which confirmed bullish pressure. Currently, we are seeing a pullback between the bottom and top parts of the flag. Price is treating this area as support and resistance as we have had multiple taps on either side. To trade this setup as a flag, we need the following to happen. We need the price to break up impulsively through the yellow zone and close above it with strong volume to accompany it. If we see that, we can then wait for a retrace back into the yellow zone. Once price retraces back into that zone and retests it flipping it from resistance to support, we can then open up a long position targeting two possible areas above. Target one would be around the 0,704 price level. Target two would be around the 0,7614 price level. However, remember, we need all of our criteria and requirements to be met before we go ahead and jump into this position. We need a valid entry setup. If the current price movement keeps trending lower and lower, it will invalidate our setup. We saw the same scenario on the Bitcoin (BTC/USD) Chart yesterday. The flag kept trending lower and broke the support and the setup was then completely invalidated which therefore gave us zero entries. We need to keep an eye out to see if the same will happen here on the (AUD/USD) Chart. Notice, to the left of this flag pattern, we see two bottoms. Could this be a Double bottom? Could the price be hanging around the neck zone before moving another leg up? Double Bottoms are famous for having price chop you out around the neck zones as market makers and institutions know that retail traders like you and I use these setups to our advantage so they will make sure to try and stop us out. This is just one possible bit of added confluence. However, I'm not looking at this chart from the double bottom point of view. We are looking at it from a bull flag point of view. This suggests we need that impulsive move upwards for us to start thinking about an entry. Until then, let's watch what happens. The Vortex Trader.
Long
by TheVortexTrader
two opportunity to get great position on xauusdhello guys! as you see on chart, gold is on ascending channel and did not break this channel for now! but in upper level we see a great flag that form on 2 main master candle so this flag is so important and there is potential there for making gold bearish! but this flag formed in a compression and if last supply zone engulfed, price will touch fisrt zone! i hope you get profit from this! If you agree with my analysis or you are happy, please hit the "like" button and "follow"!
OANDA:XAUUSDLong
by melikatrader94
10
SIGA to Break Upper Trendline?SIGA has an ascending channel pattern on the daily chart. A closer look at SIGA shows a bull flag formation on the hourly chart. I strongly believe that a break of the flag (on the hourly) will push SIGA above the upper trendline of the ascending channel (on the daily). The measured potential maximum move of the bull flag is approximately 4.18 points and the measured potential maximum move of the ascending channel is approximately 15.90 points. Therefore, the combined potential maximum move approximation is 20.08 points. Therefore, my entry will occur after price breaks and holds level 24. *This is not financial advice. Loved and Blessed, MrALTrades00
NASDAQ:SIGALong
by MrALtrades00
Dow Jones: either up or downThe index is at the 21.4% Fibo retracement (March 23, 2020 retracement to the last top). In the inverse retracement from January 3, 2022 to June 13, 2022, the price seems to have corrected in the region of 38.2%. And it is in a bullish channel which in this context can be called a bearish flag. The Stochastic RSI is retesting a resistance for the third time. What to expect In a bullish scenario, it is necessary for the price to fall at most to halfway through the channel, and remain above the 21.4% major retracement. If it breaks the 38.2% inverse retracement, it will at least test the next 50% retracement. Now, if it stays in the lower half of the channel, there is a higher probability of going all the way to the 38.2% retracement.
DJ:DJI
by andre_007