![]() A more optimistic approach would be to measure the distance in dollar terms between the pattern’s high and the base of the flagpole to set a profit target. For instance, if there is a $4.00 difference and the breakout entry point is $55, the trader would place a profit target at $59. Profit Target: Conservative traders may want to use the difference, measured in price, between the flag pattern’s parallel trend lines to set a profit target. ![]() For example, if the upper trend line of the pattern is at $55 per share, and the lower trend line of the pattern is at $51 per share, then some price level below $51 per share would be a logical place to set the stop-loss order for a long position.
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