Identifying the Bull Flag on $FHE
Market Overview
Today we are looking at $FHE to understand a classic chart pattern: the Bull Flag. After a strong vertical move (the "pole"), prices often drift sideways or slightly down (the "flag"). This is healthy—it allows indicators to reset and profit-takers to exit, while new buyers enter.
Trend Direction
The primary trend is Up. The current price action is a corrective move within that uptrend.
Key Support & Resistance
Demand (Buy): The 0.142 level is acting as a "floor." In technical analysis, we look for price to bounce here, which it has.
Supply (Sell): The 0.166 level is the "ceiling." Breaking this confirms the pattern.
Indicator Signals
Notice how the Volume (bar chart at bottom) spiked during the rise and decreased during this consolidation? This is a confirmation signal. Low volume on pullbacks = Bullish.
Liquidity Zones & Stop Hunts
Traders often put Stop Losses right under previous lows (0.142). Smart Money might dip price briefly to 0.140 to "hunt" these stops before reversing. Be patient with your entry.
Entry Strategy
Entry: Limit order at $0.145 or Market buy at $0.150 if bullish candle closes.
Stop Loss: $0.138 (Below the consolidation structure).
Take Profit: $0.160 (Conservative) / $0.175 (Aggressive).
Risk Warning
If the flag breaks downward (below 0.138), the pattern fails. Always use a Stop Loss.
Final Decision: LONG (on confirmation)
Confidence Level: Medium-High
#LearnCrypto #TradingTips #chartpatterns #FHE #Educational_Post✨