ETH (4HRSTF) FLAG AND POLE
FLAG AND POLE
The flag and pole pattern, also known as the flag pattern, is a popular continuation pattern used in technical analysis. It signifies a strong price movement in the direction of the prevailing trend, followed by a brief period of consolidation that resembles a flag, and then a continuation of the trend. Here’s how it breaks down:
Pole: This is the initial sharp move, either upwards in a bullish flag or downwards in a bearish flag. It represents a significant price increase or decrease within a short period.
Flag: After the sharp move, the price enters a consolidation phase, moving sideways or slightly against the prevailing trend, creating a rectangular shape that looks like a flag.
Breakout: The price then breaks out of the flag pattern, continuing in the direction of the initial sharp move (the pole).
This pattern is useful for identifying opportunities to join an existing trend after a brief pause. If you see a flag and pole pattern forming, it might be a good idea to prepare for a potential breakout in the direction of the pole.
The flag and pole pattern, also known as the flag pattern, is a popular continuation pattern used in technical analysis. It signifies a strong price movement in the direction of the prevailing trend, followed by a brief period of consolidation that resembles a flag, and then a continuation of the trend. Here’s how it breaks down:
Pole: This is the initial sharp move, either upwards in a bullish flag or downwards in a bearish flag. It represents a significant price increase or decrease within a short period.
Flag: After the sharp move, the price enters a consolidation phase, moving sideways or slightly against the prevailing trend, creating a rectangular shape that looks like a flag.
Breakout: The price then breaks out of the flag pattern, continuing in the direction of the initial sharp move (the pole).
This pattern is useful for identifying opportunities to join an existing trend after a brief pause. If you see a flag and pole pattern forming, it might be a good idea to prepare for a potential breakout in the direction of the pole.
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