To the uninicitiated, Flags are those little Parallell Pennant sorta thingys that hang on the end of a Major Run {North or South} crawling in the opposite direction of the Run.
Before we discuss Trading them, let's discuss why they occurr.
http://www.investopedia.com/universi...ts/charts6.asp
In reality, this Flag has too many bars for my liking & I would probably put it on the back burner.
However. I don't know the TF of this chart. If it were a 5 min TF It would look very different & possibly inviting on a 60 min (1 Hr.) TF Chart.
Flags, anybody saluting?
Also notice the Horiz Sup that bounced the Flag & How high did it get before meeting some Resistance...
Before we discuss Trading them, let's discuss why they occurr.
http://www.investopedia.com/universi...ts/charts6.asp
In reality, this Flag has too many bars for my liking & I would probably put it on the back burner.
However. I don't know the TF of this chart. If it were a 5 min TF It would look very different & possibly inviting on a 60 min (1 Hr.) TF Chart.
Flags, anybody saluting?
Also notice the Horiz Sup that bounced the Flag & How high did it get before meeting some Resistance...
Attached Image