Bulls somehow carving out a BULL FLAG so obviousely...
... by then, we would know if the mentioned BULL FLAG is only a new DOWN CHANNEL.
I will give up my bearish bent if the green line is broken to the upside, and I expect an acceleration lower if the dark blue line is broken to the downside.
Dauglas, I think you have said it, better than I did. The very best I feel is FINALLY someone on this board can finally follow and anticipate my LOL! Thank you for your interest and contribution. It means A LOT to another crusty old chap running his last few laps...Hahahah LOL!
The potential BULL FLAG, similar to what you have - which I used to call it "my best friend" - a descending wedge/bull flag, once it breaks out the top line could be another NEW ATHs! (Bright Blue arrow)
Of course the strategy: Bears are easy in defending their positions: the RISING WEDGE, the BRIGHT BLUE LINE, and the ORANGE LINE had been FALLEN OUT - cover shorts when these lines are taken back! - adding shorts when theses lines are rejected once again!
So here we are - bull flag/descending wedge OR down channel ???
Edited by iloli way, 11 April 2024 - 12:34 PM.