iCharts Discussions

[mozillan]

I thank you, Welgro! You have given me immense pleasure through ur posts. I did trade some of your calls and made money as a result. However, the current trend seems to be against me as I have shorted Crudeoil & the expiry is on 18-12-2014. Should I continue to hold shorts, or maybe exit?????

[welgro]

Crudeoil positional analysis 18.12.14 Update I

Flag Bearish Chart Pattern


Important Characteristics

Following are important characteristics for this pattern.

Trendlines

Flags are very similar to Pennants. However, with a Flag, the price trendlines tend to run parallel, whereas with a Pennant, the price trendlines tend to converge. John J. Murphy notes that a price drop below the lower trendline may indicate the resumption of the downtrend.

Volume

As the Flag develops, the volume tends to decrease. However, you will often notice a sharp spike in volume at the end of a Flag, whether it is bearish or bullish.

Duration of the Pattern

Martin Pring notes in his book, Technical Analysis Explained that "Flags can form in a period as short as 5 days or as longs as 3 to 5 weeks." John J. Murphy identifies that Flags "often last no longer than one or two weeks."

Read More : http://www.trending123.com/patterns/bear-flag-pattern.html

[AMBY]

THANKS FOR UPDATE.
I WOULD LIKE TO RECONFIRM THAT AS PER YOUR CHARTS THIS LEVELS ARE FOR JAN 2014. EXPIRY.

[welgro]

[AMBY]

Thanks for prompt correction.

Can i re post your charts as it in another forum?

only with your permission .

[welgro]

[welgro]

Crudeoil positional analysis 18.12.14 Update II

[gopal_1438]

crude 30m as per fork

http://prntscr.com/5i6bvq

[welgro]

Crudeoil positional analysis 18.12.14 Update III

[AMBY]

JUST MISSED BY FIVE MINUTES , IT WOULD HAVE BEEN GOOD TO SELL AT 3740.
THANKS FOR UPDATING.

[kifs]

Thank u for updating

[welgro]

Crudeoil positional analysis 18.12.14 Update IV

[manohara]

[welgro]

Crudeoil positional analysis 19.12.14 Update I

[welgro]

Crudeoil positional analysis 19.12.14 Update II