There is another chart pattern which is an indicator of an even higher price target, (See Investopedia...The 'flag pattern': 'The flag or pennant is considered to be flying at half-mast, as the distance of the initial price movement is thought to be roughly equal to the proceeding price move. (My interpretation: At .0025 we are at 1/2 of the total price movement, which I figure to be from .001 to .0025...the flagpole), therefore the target should be apprx .004.) The reason these patterns form is that after a large price movement, the market consolidates, or pauses, before resuming the initial trend.
The flag or pennant is considered to be flying at half-mast, as the distance of the initial price movement is thought to be roughly equal to the proceeding price move. The flag or pennant is considered to be flying at half-mast, as the distance of the initial price movement is thought to be roughly equal to the proceeding price move.'