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if we split back over 1.3214-21 then I would not be shorting anymore... we fell down to test the h4 bull breakout imo... my system has partially confirmed resumption of upmove:
This is why this is a good idea to exchange chart ideas patterns where others have there trendlines on there charts. Very important.
Your trendline is at a far steeper gradient that impact is going to be broken easier eventually.
Maybe but the chart attached under did not do this till over 1000 pips were cleared... we have dropped 2300 pips because the top... anticipating higher... and your TF is 15mins... in case you calculated your broken wedge, it might take us to 1.3031 roughly... that will break the h4 TL... and we all recognize that TL/patterns on larger TF are stronger than little TF...
Congrats for beginning the New Thread, Sis
I enjoy your IDEA opened Chart Patterns, Ranges Trends Thread.
I hope can HELP Newbies or Experienced Traders to learn about Chart Patterns find Trends from this Thread.
I really appreciate if Old Traders will Sharing to it
All the Ideal
This pic is a close-up of the one over. It's the EUR/USD 15' with all the bear flag starting on 2-10-2012.
Http://www.marketweb20.com/img/2-10-bearflag.jpg
It reveals that the 'BEAR Flag which is fairly easy to spot and trade. I put the parameters at the pic to show the way the target is measured. It amounts to measuring the rod and then subtracting that from the breakout point.
Additionally, what should be demanded when investing this, or any pattern for that matter, is supporting indiors. Notice the two indiors below the chart. They encourage the drop in price coming up.
I have been a pattern trader for decades and I like to keep everything as straightforward as possible.
Great trading
RT.. .
You can. That is what makes chart patterns an art and not a science. There aren't any hard and fast rules about the size of a flag.
What actually happened is that the downward move of the rod took a rest and retraced a bit. It does not need to be a lot, just enough to provide the Bear Flag Pole a base. The base of the rod is the Breakout point. Therefore, if you Assess the rod you will have an Estimate the move down from the rest out to the other hand.
Great trading
RT.. .