Flags - Just Basic Volume & Price TA

UrmaBlume · #1 09-24-2007, 05:15 PM

Flags are seldom appearing "old school" TA.

Here are 3 recent flags. Which Way from here?

The rule about flags is the move out of the flag should be equal to the pole.

ItalianFX · #2 09-24-2007, 05:48 PM

the other two times (left of chart) when the price spiked up, a small flag began, but then price went down. It could be indicative of what is to come, but I think we'd need to see volume levels to decide strength. All-in-all, if price goes up, you have resistance up ahead.

Also, you don't really want to get in until the price breaks. Guessing which way it is going to break is usually a losing proposition.

UrmaBlume · #3 09-24-2007, 08:26 PM

Here is my analysis and I say down: what is yours?

ItalianFX · #4 09-24-2007, 09:07 PM

Where is your analysis?

Chrisman886 · #5 09-24-2007, 09:23 PM

If flags are old school I need to go buy a walker.

I don't trade the ES anymore though, but I still think I need more data to answer that question. I can tell you right off it's not something I would play either way though.

"The trick is, when there is nothing to do, do nothing."
-Warren Buffett

pig4bill · #6 09-25-2007, 02:14 AM

Those aren't flags the way I've seen them defined.