{"id":307269,"date":"2024-05-22T16:39:05","date_gmt":"2024-05-22T11:09:05","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=307269"},"modified":"2024-05-22T16:39:05","modified_gmt":"2024-05-22T11:09:05","slug":"bull-flag-continuation-pattern-probably-in-process-of-completing-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bull-flag-continuation-pattern-probably-in-process-of-completing-crypto-news\/","title":{"rendered":"Bull Flag continuation pattern probably in process of completing &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>AUD\/USD is probably completing a Bull Flag continuation pattern with bullish implications.\u00a0<\/strong><\/li>\n<li><strong>A break above the May 16 high would validate the pattern and indicate more upside to the pattern\u2019s price targets.\u00a0<\/strong><\/li>\n<li><strong>The pair has drifted sideways into support from the bottom of a rising channel and reached a pivotal moment in its evolution.\u00a0<\/strong><\/li>\n<\/ul>\n<p>AUD\/USD is potentially forming a Bull Flag continuation pattern on the 4-hour chart. These patterns are composed of a sharp rally \u2013 the \u201cflagpole\u201d \u2013 followed by a rectangular consolidation \u2013 the \u201cflag square\u201d.\u00a0<\/p>\n<p>Bull Flags are a sign the uptrend is taking a pause before continuing higher. The subsequent rally can be estimated by taking the length of the flagpole and extrapolating it from the base of the consolidation higher, or a <a rel=\"nofollow noopener\" target=\"_blank\" data-fxs-autoanchor=\"\" href=\"https:\/\/www.fxstreet.com\/technical-analysis\/support-resistance\/fibonacci\">Fibonacci<\/a> ratio of the length.\u00a0<\/p>\n<p>A break above the top of the flag square (shaded rectangle on chart below) at around the 0.6714 May 16 high, would confirm activation of the Bull Flag. Such a move would be expected to extend the uptrend up to an initial target at 0.6728, the 0.618 Fibonacci ratio of the flagpole. A second more optimistic price objective lies at 0.6788, the full length of the flagpole.\u00a0<\/p>\n<h3 class=\"fxs_headline_medium\">AUD\/USD 4-hour Chart<\/h3>\n<\/p>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" data-fxs-autoanchor=\"\" href=\"https:\/\/www.fxstreet.com\/currencies\/audusd\">Aussie<\/a> is in a rising channel and price has now pulled back to the red lower trendline of the channel. This indicates price has reached a pivotal moment \u2013 if it breaks higher it will validate the Bull Flag hypothesis and activate the patterns targets. This is the more likely outcome given the AUD\/USD is in a short-term uptrend, and as the old saying goes, \u201cthe trend is your friend\u201d.\u00a0<\/p>\n<p>However, a decisive break below the red trendline would invalidate the Bull Flag and bring the short-term uptrend into doubt.\u00a0<\/p>\n<p>A decisive break would be characterized as one that was accompanied by a long red candle that closed near its low or three red candles in a row that broke through the trendline.<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>AUD\/USD is probably completing a Bull Flag continuation pattern with bullish implications.\u00a0 A break above the May 16 high would validate the pattern and indicate more upside to the pattern\u2019s price targets.\u00a0 The pair has drifted sideways into support from the bottom of a rising channel and reached a pivotal moment in its evolution.\u00a0 AUD\/USD [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8259,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[377,201,248,251,246,257,255,250,252,247,253,249,308,256,254],"class_list":["post-307269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-audusd","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/307269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=307269"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/307269\/revisions"}],"predecessor-version":[{"id":307274,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/307269\/revisions\/307274"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/8259"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=307269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=307269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=307269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}