Flags and pennants are continuation patterns. They are traded in the same way, but each has a slightly different shape.
The terms flag and pennant are often used interchangeably.
A flag or pennant pattern forms when the price rallies sharply, then moves sideways or slightly to the downside.
This sideways movement typically takes the form or a rectangle (flag) or a small triangle (pennant), hence their names
The pole that leads to the flag should always be a fast price rally to the up side(most times 50%)
Volume reduces 70% percent of the time. With a minimum of 2 supports(holding at 0.0002468sats) and 2 resistance levels, with a likely drop down to the green box. AS SHOWN BELOW:
The DOUBLE BOTTOM PATTERN:
Eve is a term that describes how the bottom looks (when compared to Adam bottoms), in this case, a rounded looking and wide bottom. If Eve has spikes, they tend to be more numerous and shorter. Eve tends to widen over its height. Adam is a narrow bottom, often composed of a one-day spike. When trying to decide which is which, ask yourself if the two bottoms appear different or similar.
With Eve & Eve, the two should look similar (both wide and rounded).The Eve & Eve double bottom is the best performing of the Adam and Eve combinations of double bottoms. It has a small break even failure rate and large average rise.
The Eve & Eve double bottom is what most chartists call the classic double bottom.
The Shape Two distinct valleys that look similar. Eve bottoms are wide and more rounded appearing. Spikes that appear tend to be numerous and short.
The rise between bottoms should measure at least between 0% to 5%, but allow variations.
The price variation between bottoms is small, usually between 0% and 6%. The two valleys should appear to bottom near the same price. The twin valleys are several weeks apart with most falling in the 2 to 7 week range.
Confirmation - The double bottom confirms as a true double bottom once price closes above the peak between the two valleys.
TECHNICALS suggests that price is currently ranging between 0.618 and 0.5 fib retracement levels. continuation calls to the upside.
If price breaksout of the high of the 2 valley, it will likely hit its target.
BUY: 0.00032341 ฿
SELL: 0.0003973 ฿ - 0.0004000 ฿
STOP LOSS: 0.0002705 ฿
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.