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GAIL formed flag during AUG 14 with volume at pole and low volume at the flag and good volume at the break
TRADE PLAN GAIL LONG ENTRY 436
STOP LOSS 420 (RISK 16)
TARGET468 (REWARD 32)Dear Sir,
As per the chart, it cannot be considered as a flag pattern due to the following reasons:
The prior trend is down trend, which indicates the domination of the sellers.
The candle sticks which you have marked is not a steeper pole, instead it can be considered as a Bullish piercing candle stick pattern.
Please check Murugan sir and confirm.
DEAR SIR/MADAM
The following reply is based on my observation alone which may not be correct
1 FLAG pattern can be at both down as well as up trend of a scrip
2 the pole is not the prior down trend but from the long green candle which you considered as piercing the red
However I am very much thankful to you for analysing my practicals
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