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RCL 1D BULL FLAGBull Flags are a Range that is a repeatable trading chart pattern. Bull Flags are a descending range chart patterns that will have a directional bias (Long) depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade don't wait for SL to be hit. *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
NYSE:RCLLong
by Tradingstrategyguides
NZDJPY 1D ASCENDING TRIANGLEAscending Triangle are repeatable trading chart patterns. Ascending chart patterns will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade don't wait for SL to be hit. *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
Long
by Tradingstrategyguides
NZDJPY 1D ASCENDING TRIANGLEAscending Triangle are repeatable trading chart patterns. Ascending chart patterns will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade don't wait for SL to be hit. *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
Long
by Tradingstrategyguides
WBA 1D BEAR FLAGBear Flags are a Range pattern that is a repeatable trading chart patterns. Ascending Bear Flag chart patterns will have a directional bias (short) depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade don't wait for SL to be hit. *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
NASDAQ:WBAShort
by Tradingstrategyguides
EURCHF 1D BULL FLAGBull Flags are a Range pattern and they are repeatable trading chart patterns. Descending Bull Flag chart patterns will have a directional bias (Long Bias) depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade don't wait for SL to be hit. *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
Long
by Tradingstrategyguides
EURAUD BEAR FLAGBear Flags are a Ranges pattern and they are repeatable trading chart patterns. Ascending Bear Flags are chart patterns that will have a directional bias (BearishShort) depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade don't wait for SL to be hit. *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
Short
by Tradingstrategyguides
AUDJPY 1D RANGE TRADINGRanges are repeatable trading chart patterns. Ranges are consolidation chart patterns that can breakout either direction. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade don't wait for SL to be hit. *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
by Tradingstrategyguides
GOLD 1D RANGE TRADINGRanges are repeatable trading chart patterns. Ranges are consolidation chart patterns that can breakout either direction. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade don't wait for SL to be hit. *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
Editors' picks
OANDA:XAUUSD
by Tradingstrategyguides
12
NZDCHF 1D BULL FLAGBull Flags are a Range pattern and they are repeatable trading chart patterns. Bull Flags are descending range chart patterns that will have a directional bias (Long) depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. Whatever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade don't wait for SL to be hit. *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
Long
by Tradingstrategyguides
GOOGLE 1D RANGE TRADINGRanges are repeatable trading chart patterns. Ranges are consolidation chart patterns that can breakout either direction. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of volume average for a full position size. b - If 75% of volume average then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) If not 75% then stand aside from the trade. 2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order. Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade don't wait for SL to be hit. *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
NASDAQ:GOOGLLong
by Tradingstrategyguides