ForecastCity

๐Ÿ“š Learn More ๐Ÿ’ฐ Earn More with us: FLAG = Impulse + Correction

Education
BINANCE:LUNAUSD   Luna / US Dollar (calculated by TradingView)


๐Ÿ“š LEARN MORE
๐Ÿ’ฐ EARN MORE


FLAG pattern Definition:

A FLAG pattern is a continuation chart pattern, named due to its similarity to a flag on a flagpole.

A flag is a relatively rapid chart formation that appears as a small channel after a steep trend, which develops in the opposite direction.
After an uptrend, it has a downward slope. After a downtrend, it has an upward slope.

IMPULSE Definition:

A โ€œflagโ€ is composed of an explosive strong price move forming a nearly vertical line.
This is known as the "IMPULSE" or โ€flagpoleโ€.
The sharper the spike on the flagpole, the more powerful the bull flag can be.

Corrective Wave Definition:


After an uptrend, it has a downward slope. After a downtrend, it has an upward slope.
This downward or upward slop known as "Corrective Wave".

Flag patterns can be bullish or bearish:

A bullish flag is known as a Bull Flag .
A bearish flag is known as a Bear Flag .

How to Trade FLAG Patterns:

When the trend line resistance on the flag breaks, it triggers the next leg of the trend move, and the price proceeds ahead.
Breakouts happen in both directions but almost all flags are continuation patterns.

This means that Flags in an uptrend are expected to break out upward and Flags in a downtrend, are expected to break out downward.


Trading suggestion:
There is a possibility of temporary retracement to the suggested support line (14.730).
. If so, traders can set orders based on Price Action and expect to reach short-term targets."

Technical analysis:
. LUNAUSD is in an uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 62.

Take Profits:
TP1= @ 17.978
TP2= @ 19.619
TP3= @ 22.431
TP4= @ 26.000
TP5= @ 29.460
TP6= @ 33.744

SL= Break below S2





โค๏ธ If you find this helpful and want more FREE forecasts in TradingView

. . . . . Please show your support back,
. . . . . . . . Hit the ๐Ÿ‘ LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!

โค๏ธ Your Support is very much ๐Ÿ™ appreciated!โค๏ธ
๐Ÿ’Ž Want us to help you become a better Forex trader?

Now, It's your turn!
Be sure to leave a comment. Let us know how you see this opportunity and forecast.

Trade well, โค๏ธ
ForecastCity English Support Team โค๏ธ
HighAccurate forecast for
โ˜…36 Forex Pairs:1.010.346 pips track record profit
โ˜…95 Cryptos
โ˜…Gold, Silver, Oils, Gas
โ˜…Best Profitable Trading Strategies

in 9 languages

since 2007

http://www.ForecastCity.com
โ˜…FREE Telegram http://t.me/forecastcity_com

Comments

Great job!!
+2 Reply
@amragl, Thank you
Reply
This is great.
+2 Reply
Good job! Clean analysis.
+2 Reply
Thank you for the tutorial
+2 Reply
ForecastCity AR_kooshani
@AR_kooshani, You're welcome
Reply
Thank you so much.
+2 Reply
ForecastCity Mesutkashmar
@Mesutkashmar, You're welcome
Reply
Iยดm in love with your writing style! So clear! Thank you so much for support!
+1 Reply
@heystge, We're glad you like it. ๐Ÿ˜Š๐Ÿ’š We hope you make the most out of your trades.
Reply