I don't usually post setups like this on smaller time frames. But I wanted to show an example of a flag pattern that I would typically take a trade on.
We can see on Bitcoin a strong impulse move up which forms the pole and tight consolidation occurring within a range to possibly complete the flag.
An entry is confirm on a break of the pole. If you are trading on Bitfinex, then you would already be in a position.
Please give this trade idea a THUMBS UP and I will keep you updated!
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Trade active
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Stop always below the base of flag
Trade closed: target reached
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I was not so lucky to get the last positioned filled at the target, however did take partial profits.
@Cheesetoast is it not still a bull flag? Bad idea to enter now?
hedgewithcrypto
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@MuMPiTz, Nah i wouldn't enter now. Although there is another one setting up on the 2hr, but is not tight which isn't that great. Still, I'll be keeping an eye on it.