Long entry level is a break of the upper (red) line of the flag with an uptrend. Price appears to be pushing against the trendline now.
A flag is a pull back, consolidation pattern and targets are calculated using the pole and fib levels. There are different methods of calculating targets for a flag. Some use the pole and project it from the opposite trendline of the breakout direction.
For a bull flag there has to be a seep move up and for a bear flag, there needs to be a steep move down to form the pole for the flag. Either flag, bear or bull, can break up or down. The top trendline of the flag in the case of a bull flag is resistance and the bottom trendline is support. Say you already own this, possible stop can go somewhere below lower trendline as it is support. Bull Flags can break down or in the opposite direction at times then turn around and go back up, so be careful with your stop if you want to hang. After a bull flag breaks up and a strong uptrend in progress, a stop below top trendline which is now support. is often used.
Watch the length of the flag in relation to the pole. It does not to become too long and become too heavy for the pole. A flag is usually 3 weeks or less in formation and a bull flag slopes against the predominate trend.
No recommendation.
Possible cup forming. If cup formation continues, cup low is 208 and long entry would be 429.64, so it has a ways to go.
During a consolidation pattern like a triangle or a flag, a tangling of William's Alligator is to be expected.
A candle top wick can point to resistance and a candle bottom shadow can point to support.
A flag is a pull back, consolidation pattern and targets are calculated using the pole and fib levels. There are different methods of calculating targets for a flag. Some use the pole and project it from the opposite trendline of the breakout direction.
For a bull flag there has to be a seep move up and for a bear flag, there needs to be a steep move down to form the pole for the flag. Either flag, bear or bull, can break up or down. The top trendline of the flag in the case of a bull flag is resistance and the bottom trendline is support. Say you already own this, possible stop can go somewhere below lower trendline as it is support. Bull Flags can break down or in the opposite direction at times then turn around and go back up, so be careful with your stop if you want to hang. After a bull flag breaks up and a strong uptrend in progress, a stop below top trendline which is now support. is often used.
Watch the length of the flag in relation to the pole. It does not to become too long and become too heavy for the pole. A flag is usually 3 weeks or less in formation and a bull flag slopes against the predominate trend.
No recommendation.
Possible cup forming. If cup formation continues, cup low is 208 and long entry would be 429.64, so it has a ways to go.
During a consolidation pattern like a triangle or a flag, a tangling of William's Alligator is to be expected.
A candle top wick can point to resistance and a candle bottom shadow can point to support.