July 2015
Intermediate to advanced
352 pages
9h 40m
English
book
A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits
by Michael C. Thomsett
Content preview from A Technical Approach To Trend Analysis: Practical Trade Timing for Enhanced Profits
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Flags and Pennants
Previous examples of flags and pennants referred specifically to retracement formations. However, these may also provide short-term continuation signals in an established primary trend. For example, in Figure 6.11, a series of flags appears over a 2.5-year primary bull trend. The last two in 2014 might be defined as retracements, but the first two, dominating 2013 trading, are not.
Figure 6.11 Flags (Chart courtesy of StockCharts.com)
The action outlined as flags sets up a secondary trend, but the narrow range forming the flags also acts as continuation signals for the bull trend. This is one example of a secondary trend ...
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