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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
$HOOD Fibonacci, Bull Flag, Trend line Retouch, now we go up?This chart is similar to the chart for WISH, in my opinion. Similar, yet holds a few critical differences- primarily, the trend line placement & consolidation since March 29th. It looks to me like the price consolidated in this wedge, is being held up, formed a bull flag, came back down to touch it, & in doing so has consolidated further on the fib levels of a fibonacci pattern, & is due to move upward. Unless, of course, there's a whole lot more sideways action.. As we see with WISH. *Not trading advice.
NASDAQ:HOODLong
by UnknownUnicorn1935796
Did it Fail?Hello everyone, Some big red candles were formed today after touching the resistance line of the pattern. The bias is neutral since we are looking at a bullish flag and the price is forming good structures when going from a resistance to support. Also, we just touched the 0.5 Fibonacci level which is our strong support and the price is showing some rejection of it. The only reason that the bias might change is red candles, they are way bigger than green candles as you see in the chart below. However, if we want to look for a good buying area, we are looking at the area in the circle where the price might goes if it does not break the range we are in. Please comment if you have any questions.
by yassin_khanji
We just started the Crypto Season.🎊Hi Traders, After that crypto experienced the best days after "Crypto Winter", July is beginning the season with some bullish moves. However, at this moment we are having some red days one after another. As we can see in this H4 chart, BINANCE:DOTUSDT is consolidating in a small range at the moment. The pattern we are seeing is either a Bullish Flag or a Descending Triangle, as it is also testing the support that it created after forming an Inverting Head and Shoulder on the Highly timeframe. It looks like it is breaking to the downside, which is normal since there is some Liquidity residing below that retail Support. As well as it is Pull backing to the 0.5 Fibonacci level after the move.
Long
by yassin_khanji