#5 | Running Flag: The most popular pattern in today's charts
Hello.
Please excuse my use of "respectful language."
The last idea has been marked as "not suggested". They said I used aggressive words!
I didn't know that TradingView was made for babies...
Anyway, I'm not a native speaker, so I don't know what the H!LL that means...
RESPECTFUL LANGUAGE:
Today's idea is about corrective waves.
The 2nd corrective pattern.
RUNNING FLAG.
I know the name may sound funny. That's what my RESPECTFUL teachers taught me.
They said 90% of the time, if you get this pattern, just expect the price to run away more than any other chart pattern.
I can tell you that's true. Most of my profits come from this RESPECTFUL pattern.
The running flag is also some kind of accumulation/distribution. It may come in 3 simple waves (ABC) like that one you see on the chart above, or 5 complex waves (ABCDE).
It has four RESPECTFUL conditions:
The central wave is often corrective, but it's not a required condition in today's charts. (B wave in the case of ABC, or C wave ABCDE)
The central wave is the key to understanding the correction. If you can correctly determine it, you will be able to say whether the correction is completed or not.
You should know that the structure of this pattern becomes confirmed and complete only if the price breaks the top of the impulsive wave.
Otherwise, you can call it "potential running flag".
You probably have questions. Feel free to ask.
I will explain more later.
Don't forget to follow us. Also click that like button to help this post stand up.
I MAY USE AGGRESSIVE WORDS IF YOU DON'T.
Please excuse my use of "respectful language."
The last idea has been marked as "not suggested". They said I used aggressive words!
I didn't know that TradingView was made for babies...
Anyway, I'm not a native speaker, so I don't know what the H!LL that means...
RESPECTFUL LANGUAGE:
Today's idea is about corrective waves.
The 2nd corrective pattern.
RUNNING FLAG.
I know the name may sound funny. That's what my RESPECTFUL teachers taught me.
They said 90% of the time, if you get this pattern, just expect the price to run away more than any other chart pattern.
I can tell you that's true. Most of my profits come from this RESPECTFUL pattern.
The running flag is also some kind of accumulation/distribution. It may come in 3 simple waves (ABC) like that one you see on the chart above, or 5 complex waves (ABCDE).
It has four RESPECTFUL conditions:
- The whole pattern must be corrective. Of course...
- Wave A must not break the low of the impulsive wave.
- The B wave must break the high of the impulsive wave.
- The C wave must not break the low of the A wave.
The central wave is often corrective, but it's not a required condition in today's charts. (B wave in the case of ABC, or C wave ABCDE)
The central wave is the key to understanding the correction. If you can correctly determine it, you will be able to say whether the correction is completed or not.
You should know that the structure of this pattern becomes confirmed and complete only if the price breaks the top of the impulsive wave.
Otherwise, you can call it "potential running flag".
You probably have questions. Feel free to ask.
I will explain more later.
Don't forget to follow us. Also click that like button to help this post stand up.
I MAY USE AGGRESSIVE WORDS IF YOU DON'T.
