Update @12:42:
2nd target for this pattern reached 5 mins back !!
Thursday, July 2, 2009
Update: Flag and Pole in SBI - July 01
,
Short triggered for sbi, first target is already reached, second target is 1735 levels. Below is the 5 min chart of sbi:
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2 comments:
Hi doji,
One doubt,as far as i know in flag and pole pattern breakout happens in direction of pole (in this case upwards),also here how to calculate 1st and 2nd targets.
Thanks
Hi Renu,
Pole-flag/pennant is usually a continuation pattern but some times acts as reversal too. Accumulation from pole sheds off when the flag signs a reversal. Targets are calculated in the same way as continuation.
-Doji
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