Quote from: Ronzybloch on Today at 12:40:46 AM

Today's Pattern is 'BEAR FLAG PATTERN'

Characteristics:

1.One big pole and small flag (ascending chanel)

2. Its bear reversal pattern.

3. Its Usually form in downtrend.

4. Its target is equal to the size of the pool from flag.

Interpretation:

It can be Bearish, wait for breakdown.

KEY POINTS TO KEEP IN MIND :
Bear flag pattern helps seller to take control over market for further price down
Once the support or resistance has broken , than you have to take entry .

آج کا پیٹرن 'BEAR FLAG PATTERN' ہے
خصوصیات:
. ایک بڑا قطب اور چھوٹا جھنڈا
بیئر فلیگ پیٹرن روسل والا پیٹرن۔
. یہ عام طور پر نیچے کے رجحان میں ہوتا ہے۔
. اس کا ہدف جھنڈے سے پول کے سائز کے برابر ہے۔
تشریح:
یہ بیئرش ہو سکتا ہے، خرابی کا انتظار کریں۔
ذہن میں رکھنے کے لیے اہم نکات:
بیئر فلیگ پیٹرن بیچنے والے کو مزید قیمت کم کرنے کے لیے مارکیٹ پر کنٹرول حاصل کرنے میں مدد کرتا ہے۔
ایک بار جب حمایت یا مزاحمت ٹوٹ جائے تو آپ کو اندراج کرنا پڑے گا۔

Technical analysis sometimes work and sometime don't because it is fundamental change what is reflected on chart so the drivers are economic events which we need to understand and keep an eye on them. Technical Indicators should be used when you are building your long term portfolio based on DCA ( Dollar cost average) strategy but for day trading , most of the traders in bear market they lose more than what they earn. It is not a perfect science. The whole foundation of technical analysis is based on historical data and all predictions are based on it. It is not necessarily certain that history will be repeated again & again. Do you think Bitcoin will ever fall below $ 3500 what we had seen back in 2018.

We should look at Macro economic factors like CPI Data, GDP & interest rates before taking any position in the market. DYOR