As expected, the bullish flag(chart on the link on related ideas), focus on the bullish flag) is going to make its dealing. This is of course due to the UK General Election of the Conservative party winning the majority seats, which I've mentioned in my previous analysis.
Congrats to those who have engaged the trade. At this moment, I'm waiting for a retracement...
Since my post several days ago linked to this chart, you'll notice $WEED is holding the neckline area of the inverse H&S, forming two additional patterns known as a bull flag & descending triangle.
Seeing how the sector has thrown under the bus for the better part of 1 year, I'm expecting to see the Bull Flag play out.. Simply to go against the bearish narrative...
D1 - Price bounced from the bottom of the bullish channel and has currently reached the middle of it.
H4 - Price is moving inside a bullish flag pattern.
H1 - We have two important support zones, price reached the first zone until it holds we may look for bullish setups with bullish evidences in order to join the bulls.
If the price moves lower then the next...
LINK has been slowly melting in a bullish flag pattern for the past few weeks, and as we can see the MA200 on the 4h chart is proving to be a big support, we believe that a break out may soon be coming as the RSI shows heavy accumulation.
Entry: 0.00031938
Target 1: 0.000366
Target 2: 0.0003940
SL: 0.00030598
CryptoCue is not providing investment advice and is...
Price action has excellently reacted to the SHS Pattern. It has also formed the bullish flag and Deep Crab. Overbought NZDUSD has tested Bullish flag Resistance as well as in Trend Reversal Zone of Deep Crab Pattern.
Bearish scenario is very likely to happen.
Target 1 : 0.64277
A bearish bat pattern has shown up in the same region of as the type2 bearish butterfly within sell zone and it is a trend trading setup. Sounds good?
In most cases it is, but for this, there is a warning sign of a bullish flag pattern. Because of this, I do need further confirmation before engaging in this trade.
Waiting for a bullish shark setup to engage this buying opportunity. Although the daily chart has a bearish bat setup but the most recent downtrend channel on it, suggest a potential bullish flag pattern that could jinx the bat.
Heading in for this buying opportunity and see if this could be an opportunity for me to have an extended trade.
A bullish flag pattern has form up, I prefer to engage this trade when a retest of the base flag happens with candle confirmation.
If this is a failure pattern, there is a bullish shark at a much lower price(check out related ideas below).
Even if price is still inside the bull flag, RSI already broke out from bullish wedge, and bounced right after retest of that wedge. Sometimes RSI shows the direction first, and then the price follows.
Or maybe a bull flag, which would just confirm the inverse H&S.
But there is also merit for a descending triangle on a smaller time frame, and considering we are in a downtrend it wouldn't be surprising to see it continue...
Time will tell per usual.
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