FLAGS FORMATION
Bearish Flags usually occur as markets fall from a base and pause in a downtrend. Bearish flags can be easily spotted as they make HH and HL within the flag area. A clear breakout downward gives us confirmation to trade these patterns as the price continues in the same direction of the trend. Flags are potential chart patterns
Trade: After higher high tops and higher low bottoms, prices will break out of the lower trend line. Wait for confirmation of breakdown with a reversal candlestick to go SHORT.
Target: Leg A in a Bearish flag should be used as your Leg B length which is used as the target.
Stop Loss: Place a stop-loss order above C the previous High.
Trade: After higher high tops and higher low bottoms, prices will break out of the lower trend line. Wait for confirmation of breakdown with a reversal candlestick to go SHORT.
Target: Leg A in a Bearish flag should be used as your Leg B length which is used as the target.
Stop Loss: Place a stop-loss order above C the previous High.
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