Comments on: Perfect Example of Trading a Bull Flag Trade June 25 SPY

By: Perfect Intraday Elliott Wave Lessons from SPY June 25

Perfect Intraday Elliott Wave Lessons from SPY June 25 — Fri, 26 Jun 2009 02:02:26 +0000

[...] I published a post on the “Perfect Bull Flag Lesson” so take a look at it for additional [...]

By: Corey Rosenbloom, CMT

Corey Rosenbloom, CMT — Thu, 25 Jun 2009 23:31:07 +0000

Excellent Question Chris.

I've seen bull flags in both 3rd and 5th waves from time to time, but even when it was forming, I commented to some people “Looks like a 3rd wave – we have TICK making a new high) and sure enough after this post, we got a new price high 5th wave that formed a “Three Push” negative divergence as well as a TICK divergence. Wanted to do a post but decided I could trade it and talk about it at the same time so I chose to trade it – plus I'll just show the pattern after the close because there's no point in posting up a pattern that only a few people will see before it's complete.

But yes, flags are independent of EW however they can be part of it, which is why I find Elliott very helpful for confirmation. If you get an ABC pullback that results in a flag trade that winds up being a 3rd wave, wait for the 4th to come back into support and play the fifth, using other techniques (candles, moving averages, Fibonacci, etc).

By: Chris C.

Chris C. — Thu, 25 Jun 2009 23:26:06 +0000

Was this lower and upper parts of the bull flag all part of a 3 fractal on the Elliot Wave. If so, is usually the case for a bear or bull flag to be a 3 fractal or is it usually or can it be independent of an Elliot Wave. Thanks.

By: Corey Rosenbloom, CMT

Corey Rosenbloom, CMT — Thu, 25 Jun 2009 23:21:05 +0000

Thanks Roy!

I'll ask my website creator to get on that! Very good idea.

By: Roy

Roy — Thu, 25 Jun 2009 23:07:41 +0000

Very good post.

A suggestion, please add a printable version of the post.

It will help the readers to print the important tactics...

Thanks

By: Perfect Intraday Elliott Wave Lessons from SPY June 25 | Afraid to Trade.com Blog

Thu, 25 Jun 2009 23:00:17 +0000

[...] I published a post on the “Perfect Bull Flag Lesson” so take a look at it for additional [...]

By: Corey Rosenbloom, CMT

Corey Rosenbloom, CMT — Thu, 25 Jun 2009 18:31:07 +0000

Excellent Question Chris.

By: Chris C.

Chris C. — Thu, 25 Jun 2009 18:26:06 +0000

By: Corey Rosenbloom, CMT

Corey Rosenbloom, CMT — Thu, 25 Jun 2009 18:21:05 +0000

Thanks Roy!

I'll ask my website creator to get on that! Very good idea.

By: Roy

Roy — Thu, 25 Jun 2009 18:07:41 +0000

Very good post.

A suggestion, please add a printable version of the post.

It will help the readers to print the important tactics...

Thanks