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Watchlist – Week of November 27, 2016

Bullish

  • AUD/JPY
  • AUD/USD
  • CAD/CHF
  • GBP/CHF
  • NZD/USD

Bearish

  • EUR/NZD
  • GBP/NZD

 

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Watchlist – Week of November 20, 2016

Bullish

  • CAD/JPY
  • CHF/JPY
  • EUR/AUD
  • GBP/CHF
  • GBPJPY

Bearish

  • AUD/CAD
  • EUR/CAD
  • GBP/USD
  • USD/CAD
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How To Trade a Bear Flag

A common challenge for traders is not knowing how to enter a trade during an established trend.  In this article I will explain how to identify a bear flag, and where to place your profit target and stop loss.

What is a Bear Flag?

A bear flag is a pullback during a strong downtrend.  It is an excellent continuation pattern and offers an opportunity to enter a low risk trade during a downtrend.  A good way to spot a bear flag is to notice that price is either consolidating during a downtrend or has formed a mini uptrend.

Bear Flag Pattern

How to Trade a Bear Flag

There are two ways in which a trader can enter a bear flag.

  • Breakout
  • Pullback

Breakout Entry

To enter on a breakout, place a buy order when price breaks below the bear flag.   Your profit target will be equivalent to the length of the pole.  Place your stop loss above the flag.

Pullback Entry

A pullback entry offers an opportunity for a tighter stop loss in pips.  Enter a sell order towards the top of the flag.  Your stop loss would be placed above the high of the flag. Your profit target should be the length of the pole.

Bear Flag entry options

Notice that there is another flag in the area of breakout entry.

A breakout entry offers a higher probability of getting into the trend during an uptrend.

Watch this video where I explain how to trade flags and then let me know in the comments section below if you currently trade flags or intend to add this high probability continuation pattern to your trading arsenal.

Posted on

How To Trade a Bull Flag

A common challenge for traders is not knowing how to enter a trade during an established trend.  In this article I will explain how to identify a bull flag, and where to place your profit target and stop loss.

What is a Bull Flag?

A bull flag is a pullback during a strong uptrend.  It is an excellent continuation pattern and offers an opportunity to enter a low risk trade during an uptrend.  A good way to spot a bull flag is to notice that price is either consolidating during an uptrend or has formed a mini downtrend.

Uptrend continuation pattern

How to Trade a Bull Flag

There are two ways in which a trader can enter a bull flag.

  • Breakout
  • Pullback

Breakout Entry

To enter on a breakout, place a buy order when price breaks above the bull flag.   Your profit target will be equivalent to the length of the pole.  Place your stop loss underneath the flag.

Pullback Entry

A pullback entry offers an opportunity for a tighter stop loss in pips.  Enter a buy order at the base of the flag.  Your stop loss would be placed below the low of the flag.  Base your profit target on the length of the pole.

How to enter an uptrend

A breakout entry offers a higher probability of getting into the trend during an uptrend.

Watch this video where I explain how to trade flags and then let me know in the comments section below if you currently trade flags or intend to add this high probability continuation pattern to your trading arsenal.

 

 

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Forex Watchlist – Week of November 13, 2016

Bullish

  • CAD/CHF
  • CAD/JPY
  • GBP/CHF
  • GBP/NZD
  • USD/CAD
  • USD/CHF
  • USD/JPY

Bearish

  • AUD/CAD
  • EUR/CHF
  • EUR/USD
Posted on

Forex Trading ~ Money Management Plan Components

via IFTTT