Yes, Bull Flag patterns can be applied to stocks, forex, commodities, and cryptocurrencies. However, they tend to work best in trending markets where price moves consistently in one direction, allowing for more reliable breakouts. Following the initial uptrend, the price enters a consolidation phase, forming the flag. The flagpole serves as the foundation of the […]

If the RSI shows an overbought condition, it may indicate a potential price correction, prompting the trader to adjust their strategy accordingly. For instance, if a currency pair consistently fails to break above a certain resistance level, traders may consider selling at that level, expecting a price reversal. Conversely, if a pair consistently finds support […]

The double bottom, like most chart patterns, is best suited for analyzing a market’s intermediate- to longer-term view to receive successful trading signals. Therefore, traders may find daily, weekly, or monthly data price charts for this particular pattern more useful. In the case of a golden cross, the long-term MA is observed to be a […]

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Traditionally, an RSI reading of 70 or above indicates an overbought condition. A bearish divergence in the Relative Strength Index is the pattern that occurs when the price reaches higher highs, while the RSI technical indicator makes lower highs during the same period. Bearish divergence RSI indicates that the trend is weakening, and the upward […]