Dislikedi've found bull flags don't really always work... a break out one direction is safe to tp to the nearest resistance imo but pole count for projection price isn't always achieved.. i guess it does help if the breakout is in the direction of the trend... but have been burnt a few times trying this method out...cheersIgnored
That is so true, Jaylovin,
it depends on the situation:
a) we are in an impulse up and having a 4th wave triangle -> bull flag
b) we are in a correction up (5-3-5 move or ABC), here we are in the B wave, which can be a triangle too -> bull flag (in a overall bear market)
c) we have finished the upmove and are now in a new trend down. We have seen wave 1 down, the a complex wave 2 which retraces high -> surprise, surprise -> will drop hard