Hi All, opportunity to enter long for short term on breakout from flag pattern.
The key points for this trade idea are:
1. Strong demand zone: The price has reached a level where there is more buying pressure than selling pressure, creating a strong support for the upward trend. This can be seen by the large bullish candles that form the flag pole.
2. Good strength on volume: The volume confirms the strength of the trend, as it increases during the upward move and decreases during the pullback. This shows that there is more interest and momentum in the direction of the trend than in the opposite direction.
3. Flag pattern breakout opportunity: The flag pattern is formed by two parallel lines that connect the highs and lows of the pullback. The breakout occurs when the price closes above the upper line of the flag, signaling a continuation of the upward trend. This is the entry point for the long trade.
The key points for this trade idea are:
1. Strong demand zone: The price has reached a level where there is more buying pressure than selling pressure, creating a strong support for the upward trend. This can be seen by the large bullish candles that form the flag pole.
2. Good strength on volume: The volume confirms the strength of the trend, as it increases during the upward move and decreases during the pullback. This shows that there is more interest and momentum in the direction of the trend than in the opposite direction.
3. Flag pattern breakout opportunity: The flag pattern is formed by two parallel lines that connect the highs and lows of the pullback. The breakout occurs when the price closes above the upper line of the flag, signaling a continuation of the upward trend. This is the entry point for the long trade.
Comment:
SL Hit but it is still in accumulation Zone.