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Key things to look out for↓
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Key things to look out for↓
Trade the bearish flag pattern by spotting a sharp price decline followed by a slight, upward-sloping consolidation, forming the flag.
Enter a short position when the price breaks below the flag's lower trendline, signaling a continuation of the prior downtrend. *Confirm the move with an increase in volume.
Place a stop loss and set your target in the next support area, or by measuring the pole's length (initial price drop) and extending that same distance downward from the breakout point.
#trader #trending #optionstrading #daytrader#stocks
Trade the bearish flag pattern by spotting a sharp price decline followed by a slight, upward-sloping consolidation, forming the flag.
Enter a short position when the price breaks below the flag's lower trendline, signaling a continuation of the prior downtrend. *Confirm the move with an increase in volume.
Place a stop loss and set your target in the next support area, or by measuring the pole's length (initial price drop) and extending that same distance downward from the breakout point.
#trader #trending #optionstrading #daytrader#stocks
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