[Diary] Wipro Flag Pattern Formation Discussion
Archive of Discussion -
Now, Our core assumption is - It will eventually give a breakout (or, breakdown) and will continue the trend. So, in short, Flag Pattern is a trend continuation pattern that allows you to catch a trend in the middle!
If We revisit the recent amazing Uptrend of Wipro, You can see there are three clear Flag Formations in the W timeframe.
What we should note here is - The first flag kept going upside. The second flag retraced. The third flag made a converging pattern.
In the end, it kept continuing the trend! If we summarize using Bounce theory, the flag is basically giving more structural formations of Higher Highs and Higher Lows.
Now, Our core assumption is - It will eventually give a breakout (or, breakdown) and will continue the trend. So, in short, Flag Pattern is a trend continuation pattern that allows you to catch a trend in the middle!
If We revisit the recent amazing Uptrend of Wipro, You can see there are three clear Flag Formations in the W timeframe.
What we should note here is - The first flag kept going upside. The second flag retraced. The third flag made a converging pattern.
In the end, it kept continuing the trend! If we summarize using Bounce theory, the flag is basically giving more structural formations of Higher Highs and Higher Lows.
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