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ppatrading101
Oct 5, 2021 6:11 PM

Bull Flag Trading #IOTA #BTC Long

Description

The bull flag pattern is a continuation chart pattern that facilitates an extension of the uptrend.
In this scenario we have a Bull Flag formed after a Morning Star Reversal Candlestick Pattern.
This pattern has a 67% probability of succeeding to the upside.

Entry Possibilities for a Bull Flag are:
At the Bottom of the Flag
At the Breakout of the Flag

Take Profit i always like to take at 50% of the measure move and at the 90%. This is a momentum pattern and more often than not, at the measured move, price will likely retrace a good amount.

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#BTC #CRYPTO #BULLFLAG #BEARFLAG #TRADINGIDEA
Comments
vrushabhc
how did you come to a 67% conclusion?
ppatrading101
@vrushabhc, statistic backtested by many including myself
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