Dow theory only indicates the trend of the market whether the market is in positive or negative side. But the price patterns indicates the characteristic of the market in other words its shows behavior of the market like how faster the price goes up and down and etc.,
Double Top(Bearish)/Bottom(Bullish) – 1 month
Head and Shoulders(Bearish) – 3 month [Inverted – Bullish]
Cup – 1 year
Flag(Bullish) – 3-7 days [Inverted – Bearish]
Triangle – 45(1.5 month) days
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Hi,
Your question 1: What should be Entry price, Exit Price and Stop loss for Flag Pattern?-
Entry should be when prices breakout above the consolidation pattern on high volume. Place stop order below bottom of consolidation pattern.Profit targets should be at least 2:1 risk/reward. So if you are risking 25 cents, then first PT is 50 cents from your entry price.
Thanks for considering my question… If possible please explain with graphical(chart) representation. Because i need to know more about that. Thanks in advance…