Flag pattern is witnessed and the duration taken to form the flag is 4 – 5 days. Volume is good during the breakout. Entry price is when the breakout appears, Stop loss is Flag bottom and Target is equal to stop loss.
, , FLAG Pattern
, , FLAG Pattern
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Hi one query since i am new. how do you identify difference between flag and piercing. I thought this was piercing at first.
Piercing pattern is a trend reversal pattern. so there should be a prior bullish or bearish rally for piercing pattern. Here the moment is sideways for last week.
Hi Vignesh, Thanks for guiding. That was point blank. One more query.
Being new i would like your views on the following:
During the course of training we find that in many cases we take short positions today say 3rd Jan 19 but our trade plan to cover it up would take atleast say 3 to 7 days. Say upto 10th Jan 19. In such a case, will not be penalised if we dont cover our positions by 3:30 pm of the same day i.e. on 3rd Jan 19? Then in practical world how can we take short positions? like for e.g. today i was working on inverted flag pattern.
Short position is possible in intraday