Pattern Trade - Flag

• 16 September 2013

• #41

S

Shaker

Joined

27 July 2013

Posts

73

Reactions

0

Sergio said:

it looks like triangle to me...

Click to expand...

Yep sorry is a triangle forming at end of flag pole.

 

• 16 September 2013

• #42

brty

Joined

5 March 2008

Posts

951

Reactions

141

Beware the "perfect" flag, or any other pattern for that matter. I always seemed to have better results with good patterns instead of perfect ones.

The perfect ones always seem to morph into something else after I have put my money on.

brty

 

• 16 September 2013

• #43

Country Lad

Off into the sunset

Joined

11 July 2005

Posts

1,640

Reactions

1,684

Is it a flag?





or is it a triangle?





or is it a pennant?





Well, if we look at it on a purely technical manner, then it was a pennant because that it the only one which touches 3 points and it has moved from there.

Does it matter? Not really, in an uptrend all are continuation patterns, and all of them are not triggered till a price of 138.

Without doubt, the P&F chart is easier, it either breaks 138 or it doesn't.



Cheers
Country Lad

 

• 16 September 2013

• #44

S

Shaker

Joined

27 July 2013

Posts

73

Reactions

0

Nice one CL

Yes you make a good point. If it breaks it breaks. Thanks for the pics

Shaker

 

• 16 September 2013

• #45

tech/a

No Ordinary Duck

Joined

14 October 2004

Posts

20,513

Reactions

6,756

Personally

I only see the triangle as being the
most technically correct pattern.

But agree with your comments re "Does it Matter"?

You can have a more aggressive entry (Pre confirmation)
or a more conservative entry (upon Confirmation).

 

• 5 November 2013

• #46

PinguPingu

Joined

13 January 2011

Posts

372

Reactions

16

Nice high and tight one on API.

 

• 6 November 2013

• #47

S

stickman

Joined

11 July 2005

Posts

36

Reactions

0

tls looks set for some solid gains over the coming days ,today has broken out of a flag set up ?

 

Attachments

• tls flag.png

  11.2 KB · Views: 1