Key Characteristics of a Bearish Flag:
1. Sharp downtrend before the flagpole – You can see a strong downward move leading into the pattern, forming the “flagpole”.
2. Consolidation in an upward-sloping channel – The price then moves upward within parallel trendlines, which is the “flag”.
3. Volume often decreases during the flag – While not shown in your chart, volume typically drops during the flag consolidation.
4. Bearish continuation expected – A break below the lower trendline often signals continuation of the previous downtrend.
Additional Notes:
• RSI is rising but still below overbought territory, suggesting there’s room for price action in either direction. However, if a breakdown occurs from this channel with an uptick in volume, it would strengthen the bearish thesis.
• The target for a bearish flag breakdown is typically the length of the flagpole, projected downward from the breakdown point.
Watch for:
• A confirmed break below the lower channel.
• Increased bearish volume during the breakdown.
• Potential support levels around $150 and $145.
1. Sharp downtrend before the flagpole – You can see a strong downward move leading into the pattern, forming the “flagpole”.
2. Consolidation in an upward-sloping channel – The price then moves upward within parallel trendlines, which is the “flag”.
3. Volume often decreases during the flag – While not shown in your chart, volume typically drops during the flag consolidation.
4. Bearish continuation expected – A break below the lower trendline often signals continuation of the previous downtrend.
Additional Notes:
• RSI is rising but still below overbought territory, suggesting there’s room for price action in either direction. However, if a breakdown occurs from this channel with an uptick in volume, it would strengthen the bearish thesis.
• The target for a bearish flag breakdown is typically the length of the flagpole, projected downward from the breakdown point.
Watch for:
• A confirmed break below the lower channel.
• Increased bearish volume during the breakdown.
• Potential support levels around $150 and $145.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.