Bull Flag question

[speedo]

I agree (of course).

But much more usually, when aspiring traders try to use an additional indicator to "confirm" something, they're using it as a filter to reduce their entries hoping that a higher win-rate will make for a more profitable system, and of course it usually doesn't. Their perspective on this subject typically - albeit not always - arises from a confusion (through no fault of their own at all), on some level, between "entry methods" and "trading systems".

The problem, in the context of this thread, is that to be able to identify confidently the times that doing that actually does increase profitability (even assuming sufficient understanding of indicators as to be able to do so!), requires a skill-set not normally available to the people who want to try to "confirm something with an indicator" as a short-cut. In my experience.

 

[murray t turtle]

Hi all,

Hoping someone can help me out, as Im having a problem....... I am able to identify flag pole and the flag beginning to form, however Im trying to find a technical indicator I can use to help me confirm when the "break" of the flag has been achieved.

I know the standard thought is to draw lines on SR but I find them to be arbitrary.....Is there any other way to determine... MA ? Any help would be really appreciated. (FYI this is for intraday charts small timeframe)

%%
NO + Yes. No on stoch ; yes on MA. LBR like$ flag$ but i hate that subjective stuff.
Uptrend$ are easier, like Alan Farley says ''bulls live above 200 day ma; bears below 200 day moving average''. I like his swing trading charts , but his book is so full of word nonsense, ignore most of his non chart inf, but study his charts. As Cmorton hinted ; could be aggressive in an early uptrend......................................................PS ;this is for some small time intraday entry frame charts= 4 hour candlecharts /50 days but mostly for longer term charts. Good question KYam.

 

[Xela]

his book is so full of word nonsense, ignore most of his non chart inf, but study his charts.

Agreed ... I just wish someone had told me this (with or without the smilies - but preferably with), before I'd tried to read his damn book ... the charts do kind of "tell the story", though.

 

[speedo]

Agreed ... I just wish someone had told me this (with or without the smilies - but preferably with), before I'd tried to read his damn book ... the charts do kind of "tell the story", though.

 

[murray t turtle]

Agreed ... I just wish someone had told me this (with or without the smilies - but preferably with), before I'd tried to read his damn book ... the charts do kind of "tell the story", though.

%%
He seems to subscribe to the theory + it's not near as good as Dow theory;
consult a dictionary+ used the most complex word he could fined, i mean find. He should have been fined for being such a word hog-LOL] Good candle charts- his candle charts may be the reason IBD went the other way+ uses red white + blue bar charts .

 

[tomorton]

%%
He seems to subscribe to the theory + it's not near as good as Dow theory;
consult a dictionary+ used the most complex word he could fined, i mean find. He should have been fined for being such a word hog-LOL] Good candle charts- his candle charts may be the reason IBD went the other way+ uses red white + blue bar charts .

Thank you and Xela both so much. I thought it was me alone who loves Alan Farley's style but hates his writing.

 

[murray t turtle]

Thank you and Xela both so much. I thought it was me alone who loves Alan Farley's style but hates his writing.

%%
One of what AMZN calls the top rated reviews, rated it ''Good ,Bad , Ugly. '' LOL I still recommend his book for the charts; but the way he uses words could be kindly called'' bad + ugly..... '' I heard an Englishman say once ''that is good enough to make an Englishman shout'' His charts are good , but not his over populated elephant / T Rex style words are not ;+ i like elephant patterns.......

 

[eurusdzn]

Market profile and point and figure may be instructive to view repricing ( rapidly as in your "pole") .

 

[kyamato]

Market profile and point and figure may be instructive to view repricing ( rapidly as in your "pole") .

Could you explain a but more on how this would work.

Overall im just looking for some mechanical methodology to help increase my ability to identify when the momentum has been building up in the flag

 

[eurusdzn]

It's an auction market. Possibly those that move price will not be looking at any mechanisms and indicators that we have available to us within a flag looking consolidation. I take it that you are looking at consolidations between momentum ignitions(repricing , rapidly, across a liquidity dessert). No one can tell in the prior bar to lift off(flag pole) bar.... that it will occur next bar..no indicator surely. Sometimes , the flag can take some time to resolve to allow you to apply yourvresearched method that is selective and works for for you. You can sometimes find channels, levels , price action from traders behaviour within the flag.
Market profile and PF are just a couple more ways to view.