[ltr]free forex Trading signals and Trading Tips[/ltr]
[ltr]Prices should climb at least 90% in two months or less.[/ltr]
[ltr]After the rise, find a place where prices pause—a congestion or consolidation area.[/ltr]
[ltr]the rules for buying after High, Tight Flag[/ltr]
[ltr]Wait for price to close above the upper trendline or above the pattern high if the pattern has no top trendline[/ltr]
[ltr]Buy the stock.
Place a stop below the prior valley, below the pattern itself, or use a volatility stop.
With this pattern, the most important rule is to wait for an upward breakout.[/ltr]
[ltr]In a test of 78 High, Tight Flag , I found 13 patterns that broke out
downward. That might not sound like much until a failure happens to
you. Save your bucks and wait for the upward breakout.
The hardest thing to do when trading High, Tight Flag is to buy the stock.
Chances are the forex is near the yearly high after doubling in price.
How much higher can it possibly go? Buy in and find out! Remember,
High, Tight Flag have the lowest failure rate and highest average gain of any chart
pattern. Your selection may prove the exception and fail, so place a stop loss[/ltr]
[ltr]order below the valley nearest the breakout. This may be below the
High, Tight Flag itself. Check to make sure the stop is not too close. You don’t want
volatility to stop you out. Later in the book, I review two High, Tight Flag trades,
one where I stole two grand from someone and another in which they stole it back . . . with interest.[/ltr]
[ltr]When identifying or forex trading signals High, Tight Flag , what should you look for or
avoid? Here is a list:[/ltr]
[ltr]Avoid overhead resistance that may cause a throwback. High, Tight Flag
with throwbacks rise just 49%, but the rise averages 100% for patterns without throwbacks.[/ltr]
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