Flag: A flag is a small rectangle pattern that slopes against the previous trend. If the previous move was up, then the flag would slope down. If the move was down, then the flag would slope up. Because flags are usually too short in duration to actually have reaction highs and reaction lows, the price action just needs to be contained within two parallel trend lines.
here as i see price action is contained within the parallel lines and pole is formed and escort is in uptrend, i hope it to be continuation pattern .
price action will tell me.
if so the price action will be [powerful to achieve its high of the pole and beyond.
RULE will be .38% of the retracement from the pole. Now it is perfectly fulfilling the criteria, suppose if it retraces more than 50% it becomes invalid
here as i see price action is contained within the parallel lines and pole is formed and escort is in uptrend, i hope it to be continuation pattern .
price action will tell me.
if so the price action will be [powerful to achieve its high of the pole and beyond.
RULE will be .38% of the retracement from the pole. Now it is perfectly fulfilling the criteria, suppose if it retraces more than 50% it becomes invalid
Comment:
Comment:
on daily chart is fulfilling 23.6% Fibonacci retracement. so 94 8 is the important price to hold