Flags, Pennants - my interpretation

This is a discussion on Flags, Pennants - my interpretation within the Trading Journals forums, part of the Reception category; I haven't picked particularly good setups lately, but this one fits my plan and I'm more confident about it than ...

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Old Apr 15, 2018, 10:45pm   #31
Joined Mar 2009
Edge is present here - GBPNZD

rsd886647 started this thread I haven't picked particularly good setups lately, but this one fits my plan and I'm more confident about it than any I've taken recently. It is important to be patient for signals that fit rather than trade sub-par signals, and I am trying to improve in this regard. You can see from a past gbpusd trade how when price makes a new high it often pulls back to the most recent high which can be lower down.
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Old Apr 16, 2018, 9:59am   #32
Joined Mar 2009
EURNZD: 1 hour pennant

rsd886647 started this thread A trade to add to my GBPNZD daily trade, this time on the one hour chart, a really nice pennant pattern:

One pic pre-trade, one pic post entry...
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Old May 2, 2018, 6:57pm   #33
Joined Apr 2018
Interesting journal. Will keep a close eye on this one as I love trading these kinds of setups myself
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