2018-7-21 15:18 |
If the participation increases, the asset price extends the bull or bear run, or else a trend reversal may occur.
Calculating the target
An asset usually mimics the pole after a bull flag breakout or bear flag breakdown.
The Bear Flag
Asset: Ethereum (ETH)
Timeframe: 4-hour chart
Pattern: Bear flag breakdown
In this case, ether broke the flag support on Mar.
Conclusion
Bull flags and bear flags can be a trader’s friend in strongly trending markets, but they do not always perform as advertised.
As a trader, you would want to avoid betting or punting on an asset price if the bull flag breakout of bear flag breakout is not backed by strong volumes.
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