The flag pattern is fairly simple with just three components.
1. The flagpole
2.The flag
A strong up trend
Ideally, we want to see a retracement of 38.2% or less for trend continuation.
To trade the flag, you can time an entry at the lower end of the price channel or wait for a break up above the upper channel. Look to take profits by projecting the length of the flag pole at the bottom of the flag.
Stop loss is to be placed below the flag channel.
Anyone interested to know more about forex, cryptocurrencies or crypto mining feel free to drop me a message here.
1. The flagpole
2.The flag
A strong up trend
Ideally, we want to see a retracement of 38.2% or less for trend continuation.
To trade the flag, you can time an entry at the lower end of the price channel or wait for a break up above the upper channel. Look to take profits by projecting the length of the flag pole at the bottom of the flag.
Stop loss is to be placed below the flag channel.
Anyone interested to know more about forex, cryptocurrencies or crypto mining feel free to drop me a message here.