Tech Is strong at the moment across most indices, we have a bullish flag formation here with nice consolidation above the $9.40 resistance area, building strength for a move up to all time high of $10.35 and then perhaps higher.
Xero is pretty much the closest thing Australia has to "big tech" and is looking pretty good to retest all time highs of $90. We are comfortably sitting above 20 and 50 MA's on all timeframes and we have a nice bull flag forming at the $80 resistance level. A clear break above the resistance will solidify a clear buy signal for me with a target of $90 and stop loss at $78.
Bull flag breakout occurred after earnings today, look for a move up to $20.77. Also breached 38% fib level. Stop-loss can be set at $17.13
Breakout and retest of our bullflag pattern
Wassap traders! Seems like the breakout is going on! If you check 4h or daily time frame you will notice clearly a bull flag pattern which means a continuation of the downtrend. And we got this patern confirmation. Can be a nice short short opportunity!!
Bull Flags are a Range pattern and are a repeatable trading chart patterns. Bull Flag chart patterns will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. Whatever time frame you are trading this chart pattern, wait for a candle close outside...
Bull Flag is a Range pattern and they are a repeatable trading chart pattern. Bull Flag Range chart pattern will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. Whatever time frame you are trading this chart pattern, wait for a candle close...