A bull flag right near resistance tend to break the resistance of it has enough momentum and volume. Why is this? It is simply due to massive volume and buying pressure forcing there way to all time highs.
1. The entry is the close above the flag pattern
2. The stop loss is 1 ATR below the flag
3. I use a 1:1 for target 1 while taking 50% of my profit and then exit at 2:1.
1. The entry is the close above the flag pattern
2. The stop loss is 1 ATR below the flag
3. I use a 1:1 for target 1 while taking 50% of my profit and then exit at 2:1.