Flags and accurate forex trading signals
A short sloping rectangle bounded by two parallel trend lines
Price action bounded by two parallel trend lines. Prices usually go against the prevailing trend: They rise in a downtrend and fall in an uptrend, but exceptions are common.
forex trading signals set up
Three-week maximum
Flags are short, from a few days to 3 weeks. Formations
longer than 3 weeks are better classified as symmetrical
triangles, rectangles, or wedges (rising or falling).
Steep, quick price trend
These formations usually form near the midpoint of a steep,
quick price trend. If you do not have a strong advance or
decline leading to the chart pattern, ignore the flag.
Downward volume trend
Volume usually trends downward throughout the formation.
Measure rule
Calculate the price difference between the start of the trend and
the formation. Prices should move at least this amount above (for
uptrends) or below (for downtrends) the end of the formation.
Wait for breakout
Once prices move outside the trend-line boundaries, place the
forex trading signals
Trade forex with the prevailing market trend: up breakouts in bull markets and down breakouts in bear markets
Throwbacks and pullbacks hurt performance. Look for nearby support or resistance
Flags without breakout day gaps perform better
Select most flags that are both tall and wide
The postflag move (time) is slightly longer than the pre-flag move.The price move after the flag is slightly shorter than the move before it
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