High Tight Flag β³οΈ
Explosive setups used by legendary traders like Mark Minervini & Mark Ritchie II π«‘
What are they?
How to trade them?
Are they really good?
Everything explained in this thread with examples π
Lets dive right in! @markminervini @chartmojo
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Explosive setups used by legendary traders like Mark Minervini & Mark Ritchie II π«‘
What are they?
How to trade them?
Are they really good?
Everything explained in this thread with examples π
Lets dive right in! @markminervini @chartmojo
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First, let us understand what High Tight Flag really isπ‘
High tight flag is a continuation pattern & is considered one of the most bullish chart patterns out there as they indicate a very strong institutional interest for the stock.
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The pattern consists of 3 things :-
1. An explosive move towards the upside,
2. A tight consolidation post the move,
3. Low volumes during the consolidation.
It is believed that the tighter the consolidation, the more explosive the moves are after breaking out.
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1. An explosive move towards the upside,
2. A tight consolidation post the move,
3. Low volumes during the consolidation.
It is believed that the tighter the consolidation, the more explosive the moves are after breaking out.
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The consolidation after that gigantic move tells us that people are not willing to sell the stock even after sitting in big profits and there is still more buying pressure. This means that there is a high probability of the stock generating more returns in the coming time.
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Now, lets understand how to trade the pattern π
The way it is traded is that once the price breaks out of the tight consolidation with volume confirmation, the pattern is considered complete.
Stop loss is kept below the previous swing low & targets can be kept according to one's risk profile.
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Stop loss is kept below the previous swing low & targets can be kept according to one's risk profile.
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High tight flags are very rare & usually have high probability of success. They are the best answer to the popular saying "Instead of buying low & selling high, one should buy high & sell higher."
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Now, lets have a look at some examples π€
#1 - Happiest Minds Technology Limited π
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#2 - Indian Railways Catering & Tourism Corporation (IRCTC) π
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#3 - Adani Enterprises
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I hope the thread was helpful :)
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Like & Share so that it benefits maximum people π
We also have a telegram channel where we share lots of quality content & organize informative discussions for absolutely FREE!
Click below to join us now! :)
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