Forex MA Flag and Pennant Patterns Price Action Trading Strategy (7196)

High accuracy “MA Flag and Pennant Patterns Price Action Trading Strategy” – Flag and Pennant Patterns trading is one of those strategies out there that just simply works.

These Flag and Pennant patterns are seen as the market potentially just taking a “breather” after a big move before continuing its primary trend.

• Time Frame: M15, H4, and D1
• Currency Pairs: Any

 

• Moving Average
• WPR

 

• Download TraderVersity.Com-FlagPennantPatternsSystem (Zip File)
• Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators /
• Copy the “TraderVersity.Com-FlagPennantPatternsSystem.tpl” file (template) to your Metatrader Directory …/templates /
• Start or restart your Metatrader Client
• Select Chart and Timeframe where you want to test your forex system
• Right click on your trading chart and hover on “Template”
• Move right to select TraderVersity.Com-FlagPennantPatternsSystem
• You will see “Forex MA Flag and Pennant Patterns Price Action Trading System” is available on your Chart

 

• Price should be above the EMAs
• Moving Average: The EMAs should be stacked in the following order:
  • 14 EMA: top
  • 50 EMA: middle
  • 200 EMA: bottom
  • Wait for price to retrace between the 14 & 50 EMA
  • A flag or pennant pattern should be identifiable
  • Wait for the close of the candle which breaks out of the resistance line
  • Enter a BUY market order at the close of the breakout candle
• WPR: Above the level -45 line

 

• Price should be below the EMAs
• Moving Average: The EMAs should be stacked in the following order:
  • 200 EMA: top
  • 50 EMA: middle
  • 14 EMA: bottom
  • Wait for price to retrace between the 14 & 50 EMA
  • A flag or pennant pattern should be identifiable
  • Wait for the close of the candle which breaks out of the support line
  • Enter a SELL market order at the close of the breakout candle
• WPR: Below the level -55 line

 

I noticed these Flag and Pennant patterns works only when the market is calm, but you can lose a lot

1. during increased volatility and
2. during the Asian session as there are a lot of false breakouts.

The ideal time periods for these instruments are 15min and 4 hours. As for the 4-H time frame, the flag appears very rarely but the profit is huge! But if you use 15-min, you can trade 2-3 times a day. It is nice too.

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