The pattern is clean. We are currently forming a bear flag.
The declining volume suggests that there is an imminent move.
The bear flag can be a really powerful pattern and someone who's able to spot it and then trade it can make some money
Bear flag Statistics:
Break-even failure rate: 2% in a bull market; 0% in a bear market
Average decline: 16% in a bull market; 25% in a bear market
Pullbacks: 46% in a bull market; 44% in a bear market
Percentage meeting price target: 47% in a bull market; 54% in a bear market
The declining volume suggests that there is an imminent move.
The bear flag can be a really powerful pattern and someone who's able to spot it and then trade it can make some money
Bear flag Statistics:
Break-even failure rate: 2% in a bull market; 0% in a bear market
Average decline: 16% in a bull market; 25% in a bear market
Pullbacks: 46% in a bull market; 44% in a bear market
Percentage meeting price target: 47% in a bull market; 54% in a bear market
Comment:
Take profit 1: ✅
Comment:
Take profit 2: ✅
Trade closed manually