- The high tight flag chart pattern is an extremely bullish formation.
- It is formed once a stock rises sharply by 50-100% within a few weeks or 1-3 months.
- After that stock pullback is small i.e. 25-30%
- In the next step the price tightens up i.e. small candles or less volatility in the price
- Finally, the stock breaks out with heavy volume
- The stop can be low on that day. Once the stock breaks out trail your stop loss to 10-20 SMA.
- This setup can be highly profitable for the traders.
I found this setup for TCI and it worked as expected.
Hope you like it.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.