ETHUSD, Flag pattern is forming after significant upward move

Hello everyone, solid Flag has formed in ETHUSDT chart. Since Flag formation after a decent upward price move is considered bullish (continuation pattern), I will start buying “green options” as soon as green candle closes above resistance line. If red candle closes bellow support line before my entry conditions are met, I will abandon this set-up. My rules are the same as before:

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Rules:

1.Worst case scenario: if I will have 4 losing candles in a row, I will take my losses and look for a new set-up.

2.Best case scenario: If I will have 4 winning candles in a row, I will gladly take my profits and look for a new opportunity.

3.I will not trade more then 10 candles in a row and I will stop trading if I am up by 4 winning trades.
For example: if my first candle is a losing candle but the next 5 candles are winners, then I will stop trading, since I will be up by 4 wins (5 wins - 1 loss = 4 wins).


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Dagangan aktif:

Green candle closed above resistance line. I will start buying color options on the next 10 candes with the idea that majority of them will be green.