jacktheGREAT
Long

CAN WE SAY IT A FLAG PATTERN ???

NSE:KANSAINER   KANSAI NEROLAC PAI INR1
71 8 0
Senior member requested you to advice
can we say it as a flag pattern ?
if yes what is target and SL ??
Flags are bit shorter and points down to flat, The above is pointing upwards... But its a channel.

Now ideally the Targets for FLAG Pattern breakout is height of the FLAG POLE.

And for channel breakout First target should be equal to distance between channel trend line.
Reply
Yes its a flag but need breakout
Reply
jacktheGREAT Avoudhut2411
👍
Reply
I think the possible break out can occur downwards. Since the pole 310 - 380 is upwards and the channel is also moving upwards. Hence it would be better to trade at the channel support and resistance level. Once the either side break out occurs it will re-try to touch the trendline at that time you can initiate the trade. For downward break out first target will be near 330 second near 315.
Reply
Thank you niravji for your opinion
My view is possible break out may be on upside
Reply
nirav5 jacktheGREAT
For upside breakout also the target can be set as the length of the pole. All the best.
Reply
My view it is not a Flag pattern simply because flag patterns are small maximum 15 bars in Flag formation. Please refer the book Encyclopedia of Chart Patterns by Thomas N. Bulkowski a great book to learn classical chart pattern. With best wishes
Reply
jacktheGREAT praveen.bhatiya
Thank you Praveenji for your opinion
Reply
India
United States
United Kingdom
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out