2052-flag-identifacation-without-volume-or-indicators

	ACOFE FORUM	Forum Threaded

Welcome, Guest
Please Login or Register. Lost Password?

ACOFE FORUM

Community

General Discussion

Flag identifacation without volume or indicators (1 viewing) (1) Guest

Favoured: 0

TOPIC: Flag identifacation without volume or indicators

Forum Tools

#2052

Tony (User)

Senior Boarder

Posts: 67

Flag identifacation without volume or indicators 2 Years, 6 Months ago	Karma: 0
Below is a Flag I think I identified on the left with wavy motion on the smaller time frame on the right. As I have to work without volume on this type of trade and do not wish to use indicators, Can anyone spot a flaw in the identification based on price action alone? The price target was met but was this by good luck or correct technical analysis? Cheers Tony

Logged

The administrator has disabled public write access.

#2053

Deon (User)

Platinum Boarder

Posts: 452

Re:Flag identifacation without volume or indicators 2 Years, 6 Months ago	Karma: 0
you really had two things working for you a cup and handle plus a flag... if you want the high probability stuff look for multiple reasons to enter a trade have a read of cup and handles if unsure , have tested them with great probability. however they are not as common as flags and pennats D

Logged

The administrator has disabled public write access.

#2057

Peter Varcoe (Admin)

Moderator

Posts: 622

Re:Flag identifacation without volume or indicators 2 Years, 6 Months ago

Karma: 0

Hi Tony,

What company is this, I cannot read the weekly price ation properly in the forum text.

Deon,

you are correct here, they are not as prevalent as flags etc, but have a look at them and a majority form flags / pennants, which tend to be more reliable, and as you say appear more often.

There are possible problems with going into depth with the plethora of other patterns out there, not the least of which is that most will end up suffering from information overload, which will only exacerbate identification issues.

Therefore we are sticking to the basic, proven, most reliable ones we can find.

Have a great day

Pete

Logged

The administrator has disabled public write access.

Forum List

Community

General Discussion

Skype:

The Australian College Of Financial education Pty Ltd does not hold an Australian Financial Services License. Nothing Contained in this website or in our courses should be taken as general or specific investment advice. We do not seek at any stage to offer advice and any individual or entity who is seeking advice should contact an appropriately licensed advisor. A list of AFSL holders can be obtained from the Australian Securities and Investment Commission (www.asic.gov.au). Information contained in this website is intended solely for general informational and educational purposes. You should not act, or refrain from acting, based on any information in this email. Neither the presentation of such information nor your receipt of it creates an advisor client relationship.

Warning: All investing carries risk. ACOFE does not propose that any strategy or trading method it delivers or promotes through its courses removes, negates all risk of loss. Individuals should consider their own circumstances before entering into any financial transaction or investment and seek appropriate advice

Your are currently browsing this site with Internet Explorer 6 (IE6).

Your current web browser must be updated to version 7 of Internet Explorer (IE7) to take advantage of all of template's capabilities.

Why should I upgrade to Internet Explorer 7? Microsoft has redesigned Internet Explorer from the ground up, with better security, new capabilities, and a whole new interface. Many changes resulted from the feedback of millions of users who tested prerelease versions of the new browser. The most compelling reason to upgrade is the improved security. The Internet of today is not the Internet of five years ago. There are dangers that simply didn't exist back in 2001, when Internet Explorer 6 was released to the world. Internet Explorer 7 makes surfing the web fundamentally safer by offering greater protection against viruses, spyware, and other online risks.

Get free downloads for Internet Explorer 7, including recommended updates as they become available. To download Internet Explorer 7 in the language of your choice, please visit the Internet Explorer 7 worldwide page.