https://www.tradingview.com/chart/OLbtKTqz/
As shown in my chart, we finished our first 5 waves down and are right now in a sideways movement, which can be identified as a flag! Usually, we would expect flags to be tilted against the prevailing price trend but this one is tilted in the opposite direction.
What does this tell us?
It shows us a slight weakness of the bears, so we should not expect the most rapid moves coming out of the pattern!
As a sidenote: Price can fall short of the E position and start falling without touching the upper line again!
I hope this was helpful! Follow for future TA, like if you want to and take care!
As shown in my chart, we finished our first 5 waves down and are right now in a sideways movement, which can be identified as a flag! Usually, we would expect flags to be tilted against the prevailing price trend but this one is tilted in the opposite direction.
What does this tell us?
It shows us a slight weakness of the bears, so we should not expect the most rapid moves coming out of the pattern!
As a sidenote: Price can fall short of the E position and start falling without touching the upper line again!
I hope this was helpful! Follow for future TA, like if you want to and take care!
Not
That's what I call a gap :D
Not
Pattern complete
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.