/biz/ - Business & Finance

>>23898739
>>23898948
Technically, you could be right. But your arrogance is unneeded. You take the trade when the consolidation breaks. You don't sell your stack just whenever, right in the middle of your bear flag...? Who actually trades like that?
Thing is, this could also be the exact opposite of your prediction--it could be a bull flag. LINK rose sharply in price in July and August, and is now slowly declining within a consolidation range. We also just recently broke out of an 80+ day coiled consolidation/triangle, and that was in the positive direction. If we follow that pattern's breakout target, that would put link at approximately 18.50 USD.
Not only that, but LINK has meaningful confluence with BTC. If BTC starts to consolidate sideways from here, based on historic data from 2017-now, we can reasonably expect LINK to start to rise to such a price target. However, of course, if BTC starts to correct a bit, LINK will fall. So you'd probably be right. But your prediction fails to mention any of this. You're so busy pointing out random patterns without considering the bigger picture.
Another thing, while yes, we do have a bearish divergence on the daily RSI for LINK, as well as a downward trajectory for the SRSI on the daily, it also seems like the Weekly SRSI is about to print a buy signal, which historically has given LINK 80%+ bullruns, up to 1500% at its highest, and several at around 100%.
You take the trades when you find the breakout. If you're going to inform others of your potential pattern breakouts, at least give them good advice. This is why /biz/ has no respect for TAfags.