Plan the Trade

For me, i think the point of the flag is not to be in so much of a hurry to get in. Ideally, the flagline is drawn from start of pullback, through point 2 of a nice 123 and point 2 also makes a 2B break with a change of trend confirmation;



By trying to go earlier, you may well be entering a B or X wave and then see PA continue further against you...

Understood. I like the flags that are tight and smaller. I can't see a better entry that the s and d/ impulse bar

Absolutely! It doesn't get any better than when the candles are telling you where it wants to go! This is my fave;



Of course, there was the pullback in the first instance to point 1. Maybe in the future i will be able to determine the ones to take and the one's to leave, but i have to be honest, i've tried to mechanicalise this somewhat and i can not get consistent results.

I have to say, the moment that i've started looking out for flags, it all looks much clearer. Ideally, i would still wait for one to trigger (break of point 2)m but then pullback to point3 (basically all we ever do), but it's easier to view as a flagline and then, when it's drivinf hard and you get a clean thrust bar through point 2 on days like we'vebeen having recently, it triggers and doesn't look back!)

So if I understand you correctly by drawing the flags it helps you recognize which pullback to take?

I guess so, yes...

They have been much easier to see on the 400 trades chart eg, but i'm also looking at wave counts and as you say, there is a little more 'noise' on the faster rate tick charts, hence i'm looking at some much larger ranges.

The point is that it's all fractal, so i'm seeing a huge flag on the 2000 volume chart, which breaks and you know it's going to drop another 200 ticks, or more in the next cycle. Now the idea is to scale in and watch the 133/233 and find smaller set-ups within that same drop...

As long as it makes the setups clearer then use them. We all visualize things in different ways so use what makes it clearer. I never thought I would be trading 133 tick charts till I saw your charts a few weeks ago. It made me realize I would be getting in at a better price

I don't know how it does it, but i always seem to switch live after she's been trending beautifully and then it goes all to hell.

I can't believe how well it's trended today - Pullbacks nice and deep, loads of them...

The flags do indeed make it clearer in my mind... add the C&H (which is almost like an inverted flag! the 123 makes a slight fresh LL (or HH if long)) and pre-empt the pullback and it really should be deadly;



Flagline break of point 2 trigger, followed by retest of point 2, followed by fresh LL, so sell the pullback start pinbar body. Does it get any better?)

And again supply bar gives you heads up nice setup

So I botched my day through a proper tick chart. When I say botched it is a little faster than I'm used to so plenty of practice is in order.

Gotta thank you guys for recommending Sierra charts. I just discovered the replay function, absolutely priceless.

Have a good weekend.

Identifying supply or demand bar in a trend is key imop

Is that the thrust bar you mention in the video?

Yes it where price shoots away from a pullback and takes out a swing

This should amuse

https://www.google.es/amp/s/amp.redd...o_buy_the_dip/

Got my ass out of bed late, but +38 on dax (spot)

Trading both pullbacks and flags combined should be possible. The idea was, if looking for flag set-ups, is it possible that it will highlight which Supply/Demand levels to trade?

Here is the current hourly UJ chart;



To me, the first supply level is only easy to see in hindsight. In realtime, we already have a reasonable uptrend in place. Perhaps trading a 123 off of the double top would have been obvious though.

It's the angle that gives me the heads up. I discovered this 7 odd years ago now... that the best flags had shallower than 45 degree angle. That would then open the view that this is in fact a possible flag in the making and thus you could trade the second supply retest with more confidence.

Add in some Elliot Wave to the mix (more detailed look);



and we can see that the pullback to previous supply is in 3 waves (corrective) with c = 123.6% of wave a.

This would have been a very nice set-up, if i had been looking at the time. Of course, it's easy to see in hindsight, but i think this alters my plan slightly.

Straight away it helps to form an opinion of future direction. That is key for me.

There are two trades. One as a pullback, when it is deep, to an obvious prior S/D level. If it isn't obvious, then it is a case of looking to see if PA appears to be corrective, (in sets of 3's and/or lots of crossovers), look for fib connections as above etc.

The other is again, somewhat relying on wave counts, but it will be to take a flag trigger, when it is formed off of a 123. This is easy to do when viewing the hourly as above cos obviously you have plenty of time, but trading the 133 tick rate on open of the NQ? that's a different ball game!)

Ok, so EU this time and take everything that i've said above and apply it to this chart;



The pullbacks in sets of 3's to prior Supply. Then point 2 of the 123 makes a slight 2B break, that is a huge clue as to it becoming a flag. I've had limited luck using 2b's at other places and have never had as much success as Harold, the problem being that it was the reaction that gives you your safety. I find myself pre-empting it turning into a 123 and thuis buying what i perceive to become leg 3 and it fails...

But here, when it also makes a shallow flagline, it is much easier to view (imo).

I put the EW labels in blue to save confusion with the 123. (a 123 is subwaves 1&2 in EW terms)

One thing i never hear myself doing with nq is complaining about lack of range and swings. Plenty of opportunities if you spot them.

18 minutes of trading nickel and diming

yes nice swings today J. would have been a good day to trade live

maybe gearing up for a move soon too

I think I might just move target to 20 ticks it seems like the place where the corrections begin