Bearish flagging pattern on 4Hr????
Or, am I seeing too much?
Or, am I seeing too much?
Trade what you see NOT what you expect
Hi zeep,
I read this about flags.
"Flags are short-term patterns that can last from 1 to 12 bars. There is some debate on the timeframe and some consider 8 bars to be pushing the limits for a reliable pattern. Ideally, these patterns will form between 1 and 4 bars. Once a flag becomes more than 12 bars or more, it would be classified as a rectangle."
from here:
http://ezinearticles.com/?Forex-Tech...ket&id=1190754
Might be a channel then.
cheers
tdeu
- #31,565
- Feb 11, 2010 5:06pm Feb 11, 2010 5:06pm
- | Joined May 2007 | Status: Trader | 4,716 Posts
As you know brother, their headed east with peaks and valleys!
Good job!
HOLLA
Investopedia is a very good source for patterns, this is what they say about a flag, http://www.investopedia.com/terms/f/flag.asp
However, not sure how you've drawn the lines, I'm no expert on that type of pattern so wouldn't be able to advise on that.
LL,
Thank you for the response. I'll get to the link over the weekend. As to your question about the lines I drew, I simply eye-balled it for a very high-level perspective. I'm re-reading the pdf and found the current upward slope to resemble the flag pattern.
I obviously have much to learn. At the moment, drawing meaningful channels and trend lines has my back in a curl.
In this chart I changed the timeframe on the 4hr to Mo and eye-balled a channel. I wanted to capture a channel that showed considerable price changing. I only spent about one minute doing this but, I find it interesting that right now we're at the bottom of a channel that fairly well encapsulates the median price over a very long time horizon.
I don't intend for this to be technical analysis and this post may not be appropriate for this thread but I found it cool.
Or, we can junk this idea altogether.Attachment
Many pips ahead! cheers.
missed that (driving my daughter to kindy), was looking for a trigger after that :-(
but had a couple of good (yet small) trades in GU
even picked the top at 5734 (4hr 50 and 1hr 200)
and the London open doji on 1hr
but didn't managed to hold for 5600 - scared after 35/50
I really need to work at let my trades run
any idea?
but had a couple of good (yet small) trades in GU
even picked the top at 5734 (4hr 50 and 1hr 200)
and the London open doji on 1hr
but didn't managed to hold for 5600 - scared after 35/50
I really need to work at let my trades run
any idea?
Good morning tdeu. yes I did bounce off 1hr 62
- #31,570
- Feb 12, 2010 5:15am Feb 12, 2010 5:15am
- | Joined Dec 2009 | Status: Dumb blonde, please be patient | 845 Posts
missed that (driving my daughter to kindy), was looking for a trigger after that :-(
but had a couple of good (yet small) trades in GU
even picked the top at 5734 (4hr 50 and 1hr 200)
and the London open doji on 1hr
but didn't managed to hold for 5600 - scared after 35/50
I really need to work at let my trades run
any idea?
always try to cover asap then you have free trade
" When the ship starts to sink, don't just pray. JUMP "
- #31,571
- Feb 12, 2010 5:42am Feb 12, 2010 5:42am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
that comes with practise
http://www.forexfactory.com/showthre...199688&page=50
My original thinking was a target of the 50% fib. When I got close to that I covered my trade in some profit. Then just follwed it down. The subsequent posts track the trade.
Like Gladis said, Book and cover (or at least cover) ASAP.
BTW, Good morning Gladis
Ghost Rider - WWTBMD?
- #31,573
- Feb 12, 2010 7:05am Feb 12, 2010 7:05am
- Joined Jun 2008 | Status: Trader | 1,318 Posts
Please ask questions and share your experiences with us all!
- #31,574
- Feb 12, 2010 7:09am Feb 12, 2010 7:09am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Good morning Gladis, Chris, and everyone!!
Ghost Rider - WWTBMD?
- #31,576
- Feb 12, 2010 7:16am Feb 12, 2010 7:16am
- Joined Jun 2008 | Status: Trader | 1,318 Posts
Please ask questions and share your experiences with us all!
- #31,579
- Feb 12, 2010 7:51am Feb 12, 2010 7:51am
- Joined Sep 2008 | Status: Trader | 1,364 Posts
Good morning/afternoon fellow traders!
Did anyone get the long on EJ?
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