Flag pattern

[peter matthew matty]

I'm offering a direct answer to your question because I think nobody else did, yet (I might have missed something - that sometimes happens, too). My answer is "No - it doesn't matter".

As a matter of "terminological exactitude", the flag pattern is just a specific and fairly readily recognizable instance of the price action that constitutes a post-retracement, trend-resumption entry. As is the case with other price action, there are various different ways of identifying those (examples would be "patterns" and "indicators"). However you identify them, they're a pretty good thing to be able to identify.

Post-retracement trend-resumptions are only one way to enter trades, of course, but they're a pretty good way, overall.

Well Yes if you know where the Trend will end - But on the other hand you did point out indicators there is also Systematic Metric length Calculation involved against some equation within the Flag Pattern lengths.

 

[Brianharvey]

i use charts but not patterns

I can't picture in my head how that would look, lol
I suppose you could say an 'inside bar' is not a 'pattern' as suchI guess, depending on your definition of the word. Or maybe a line that you consider support or whatever, but even then, it's based on a pattern of sorts

 

[_eug_]

I think you would have better entry if you just drew horizontal lines. The low of your flag is a re-test of the resistance turned into support level form earlier on in the chart.

Maybe a momentum indicator on a tick chart as we approach the level to see if buying is taking place... hmmm

 

[Pekelo]

I think you would have better entry if you just drew horizontal lines.

It is hard to do with lower lows and lower highs. I actually missed that earlier high resistance/support level.

 

[qxr1011]

can't picture in my head how that would look, lol

that's ok

 

[peter matthew matty]

I think you would have better entry if you just drew horizontal lines. The low of your flag is a re-test of the resistance turned into support level form earlier on in the chart.

View attachment 183584

Maybe a momentum indicator on a tick chart as we approach the level to see if buying is taking place... hmmm

You would have better success if you just drew to horizontal lines as A Linear Aggression Channel and waited for Price simply to either go Up or Come back down. It could not be simpler.

 

[volpri]

I can't picture in my head how that would look, lol
I suppose you could say an 'inside bar' is not a 'pattern' as suchI guess, depending on your definition of the word. Or maybe a line that you consider support or whatever, but even then, it's based on a pattern of sorts

Ask him to post sone examples. See how far that will go LOL

 

[peter matthew matty]

Ask him to post sone examples. See how far that will go LOL

Am I talking to the children please advise ?

 

[volpri]

Am I talking to the children please advise ?

ROFLMAO.....

 

[vanzandt]

Hard stops do work when placed outside the noise.

Sure they work as advertised, but they cost you money in a big way.

Below.... these errant candles happen constantly intraday. They extend well beyond what one could reasonably define as "noise". They trigger any and all stops in a matter of seconds. Programed stops are antiquated, as are trailing stops. They just don't work. They are too easily triggered.