Items that match pattern:
*Rising - A connecting the price valleys rises upward usually at 30 to 45 degrees, but this varies with scaling.(our has 26%)
*Lead-in phase - The lead-in is the section at the start of the pattern and it precedes the bump phase. Price follows a rising .
*Bump phase - Price rises in the bump phase following a steeper (45 to 60 degrees or higher) on high usually after a favorable event . Price rounds over and eventually returns to the lower, 30-degree setup in the lead-in phase.
*Bump height - Measured from the peak to the 30-degree , it must be at least twice the lead-in height.
*Downhill run - After price returns to the 30-degree , price may bump up and form additional bumps or slide along the before plunging lower in a downhill run
*Volume - High at the start of the pattern, at the bump start, and at the downward breakout (where price pierces the 30-degree ).
*Confirmation - The pattern confirms as a valid one when price closes below the 30-degree .
Credit - Thomas N. Bulkowski
source - http://thepatternsite.com
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This information is not a recommendation to buy or sell.
Our DT was 22%. While DT was created it developed bearish flag. Average price decline to flag is 26% - our was 36%. From flag top to bottom of formation average decline is 25% - our was 29%. We can say that Flag pattern is finished. Change in price after pattern completed - now best part - for DT is 43% up and for Flag is 40% up. Judging on stats we should expect price rise to 11000$ and that is a level of massive resistance. I have no idea if price will rise to 11000$ but this is what numbers are saying.