Yuriy_Bishko

UNIUSDT - Bullish Flag Formation Signaling A Move Higher

Long
BINANCE:UNIUSDTPERP   UNI / TetherUS PERPETUAL FUTURES
or is it a trap for bulls?

Bullish flag formations are found in stocks with strong uptrends. They are called bull flags because the pattern resembles a flag on a pole. The pole is the result of a vertical rise in a stock and the flag results from a period of consolidation. The flag can be a horizontal rectangle , but is also often angled down away from the prevailing trend. Another variant is called a bullish pennant , in which the consolidation takes the form of a symmetrical triangle. The shape of the flag is not as important as the underlying psychology behind the pattern. Basically, despite a strong vertical rally, the stock refuses to drop appreciably, as bulls snap up any shares they can get. The breakout from a flag often results in a powerful move higher, measuring the length of the prior flag pole. It is important to note that these patterns work the same in reverse and are known as bear flags and pennants . Bull flags have been rare over the last few months of 2008, but they have been beginning to surface in conjunction with the recent market rally.


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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
Comment: stop loss hit

Comments

splendid! 🦐👑
+1 Reply
good day sir! do you have update on gold and eurusd sir? thank u 😊🙏
+1 Reply
Yuriy_Bishko fioloren1245
@fioloren1245, about EUR/USD, yesterday I recorded a video on our YouTube channel
open and watch all updates there

Gold soon
+2 Reply
Looking like this trade is now open to enter? Just later than anticipated with a larger flag?
Reply
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