Quote from: palle11 on June 22, 2023, 02:49:57 PM

Quote from: thecryptogandalf on June 22, 2023, 02:27:16 PM

I appreciate the positive comment, thanks.

Every trader understands that it's impossible to predict market moves with 100% certainty. However, using technical indicators can help us make better decisions. These indicators and patterns give us clues about how buyers and sellers behave in the market. For instance, with a bear flag, when prices consolidate and volume is low, it means neither buyers nor sellers have control. But when there's a breakout, it suggests that sellers are gaining momentum again, giving us an idea of how to position ourselves.

I also like to say briefly that when there is breakouts , it also depends on the strategy of the trader or type of trader. Like if a trader is a daily trader, he should be careful of the breakout and not be carried away because at every breakout there is correction and such correction may take time to continue the breakout position. Some traders like swingers or daily trader may feel no reversal after the breakout and they may be caught on the web of correction if they don't use stop loss. Breakout only means a directional position but not that it may not change from time to time within the moment.

Personally I like trading the breakout of a Flag pole however I prefer price retouching or pullback to the outer line of the flag pole and watch out for Price Action for possible price continuation something like exhaustion on a bullish or bearish candle that touched the line before pulling the trigger for a possible long or Short order with reference to the 1 hour or 2 hour timeframe definitely anot daily timeframe which I believe trading it breakout will lead to a massive drawdown if the price undergoes correction, however multi timeframe analysis is also very helpful to determine the trend of the market.