Flagandpole
BITCOIN 80k soon : FIB Extension & Flag-Pole theory (READ CAP) Bitcoin projected targets are 80k as per both of my theories:-
1st THEORY- FLAG & POLE - Widely used Flag Pole is basically plotted to guess further targets when an asset is at ATH . Bitcoin went into consolidation and formed a slant flag after a huge rally, here the rally is considered as a pole. So we just draw a trendline from the bottom to the top of the rally till the current consolidation phase and paste the same pole ahead of the flag. Our projected target is 80k here. This is a very simple theory.
Second one is Fibonacci Extension . We plotted this from 28k to 53 where it retraced and we usually consider 0.618 as our targets which is again 80k
Now that's huge and looks quite accurate.
COMMENT your views
HODL !
btc forming flag and pole patternBINANCE:BTCUSDT is forming flag and pole pattern on multiple time frame ... for reference, you can check this 3hrs time frame.
All the levels are mentioned in the chart.
Note : For educational purpose only
AARTIIND - LONG/ACCUMULATE.It seems like AARTIIND has been printing the flag & pole formation on a constant basis.
As of this point, we could wait for a consolidation in the area of 970-1025.
If we get a consolidation, it would be a good area to buy it for longer time frame in mind.
Mahandra Looks BullishNot Sure if this is multiple Flag and Pole Pattern: Volume Looks like after 2 Consecutive breakouts there are days of consolidation where volumes are low.
Mahindra in coming days could touch its all time high. Festivals + Outlook + News suggest so.
MCXMCX Flag and Pole breakout in 1W timeframe.
It has also broken Horizontal Resistance.
If it sustain above 1810 can expect bullish movement.
Bajaj Finance: Fag and Pole formationBajaj Finance Ltd. formed a Flag and Pole formation on a daily time frame.
Details are given in the chart itself. View it in detail.
Target 1: 750-770 points
Target 2: 1450-1500 points
on the upside.
The downside level of 7000 will act as psychological support for the price.
HDFC: (Intraday) Comment below the name of the PatternHDFC is ready to give a fresh breakout.
Details are given in the chart itself.
What is Bullish Flag Pattern?What is a Bullish Flag Pattern?
The bullish Flag pattern is usually found in assets with a strong uptrend. It is called a flag pattern because it resembles a flag and pole. Pole is the preceding uptrend where the flag represents the consolidation of the uptrend.
How does Bullish Flag Pattern?
The flag pattern resembles a parallelogram or rectangle marked by two parallel trendlines that tend to slope against the preceding trend.
Phase 1: Preceding Uptrend
When there is an extreme demand in prices there is an uptrend. It continued as the demand increases.
Phase 2: Flag
After the sharp uptrend when supply increases more then the demand prices move to the consolidation phase or flag phase. This acts as a small price channel.
Phase 3: Uptrend Continuation
As the flag is a pause in an uptrend, as prices consolidate investors again start to show interest in the asset which eventually leads to heavy demand again which further leads to a breakout and uptrend continuation.
Role of Volume:
Volume plays a vital role in the completion of the Bullish Flag pattern. When in a preceding uptrend the volume is quite higher. In the flag phase, the volume starts to go down as investors are least interested to buy and sell that particular asset. And again on the breakout, the volume surges. Volume with Breakout gives a good indication of a successful uptrend.
Above Chart Explanation:
This is 4H chart of SOLUSDT We can see a good preceding uptrend with great volumes. Then after the uptrend, we enter the second phase the flag phase we can see perfect bounce and retracement from upper and lower trendlines or flag with diminishing volumes. And again a breakout with good volumes.
Here could be the two possible entries one at the bottom of the flag that gives us a very low-risk entry if it breaks the flag we exit.
And second entry can be at breakout, first, we have to confirm that the breakout is legit for that we can look at the volumes rising volumes to confirm that the breakout is legit.
Usually, we should target the length of the pole after the breakout.
Conclusion:
Bullish Flag is a continuation pattern it occurs quite often on charts and is one of the most reliable continuation patterns.
Comment your thoughts on Bullish Flag Pattern in the comment section below.
Disclaimer:
This is just an educational post never trade just any pattern. And please do your research before making any trades.
PS: We are again publishing this for our Indian Audience
Happy Trading!
SUNPHARMA FLAG AND POLE PATTERNSunpharma flag and pole pattern....
Trade with caution, appropriate position sizing and risk management
LT: Flag and PoleL&T formed a flag and Pole Pattern on an hourly chart. The analysis is backed by the increase in the volume of bulls at the time of the formation of the pole and the decrease in the volume of bears in the Flag formation justifying the two most important criteria for Flag and Pole patterns to give a breakout.
Still, it is the stock market so be prepared with arms and ammunition for both side movement.
APOLLO TYRES for swingAfter a good uptrend Apollo Tyres was in consolidation which is making a flag and pole pattern. We can see the breakout of this pattern and a very good uptrend. So keep an eye on this stock for a swing trade.
Comment down your thoughts below.
Bank Nifty Ready To move in its 5th WaveBank Nifty needs to give breakout from the range, then it's ready for Next Move
Flag And Pole Breakout Needed.
Banknifty 9 August Hourly ViewHi Traders,
In hourly time frame, I can see 2 patterns:
1. Flag Pole
2. Symmetrical triangle.
For both the patterns, following would be the targets:
1. Break-Out i.e Bullish - 1st Target : 36000
2nd Target : 36200
2. Break-Down i.e Bearish - 1st Target : 35700
2nd Target : 35500
Please comment below what do you feel.
JK Tyre and Industries is looking good for swing tradeJK Tyre and industries have given a breakout of pole and flag pattern and also has a "narrow monthly Value Area". So we can expect a good move upside if the market remains bullish.
Comment below what do you think of this analysis.
JSW Steel making Flag and Pole PatternAs the title says JSW Steel is making a Flag nad Pole pattern. Wait for it to break its Trendline. In the picture you can see a Flag and Pole Pattern with 3 zones to help you to select your SL and Target.
PS: I'm not a SEBI registered Analyst.
JSW Steel forming Flag and pole patternThis stock looks good, if it gives a successful breakout with good volume
Levels are already mentioned in chart.
- Once given a successful breakout .. it looks good above 710 for immediate target of 735-40 and 2nd target of 770+ and T3 of 800+
Things to remember
1) Always wait for Confirmation, don't just jump in running candle
2) Condition for breakout is ... it should break the range with big green candle with good volume
3) There is 90% chance after a successful breakout, it should comeback to Re-test the support, which was once resistance
4) Always keep trailing Stop loss.
Note : I am still learning .. let me know if i missed anything
Disclaimer : This is purely for education purpose only
