This post will be more interesting for new comers on the Trading. May be it will help somebody to feel more confident on the market. Sometimes you will lose money on this trade setup, but in the long run you will be profitable. It's enough for good setup.
This is my way to trade Flag. And Flag - there is just a special case of Elliott Wave theory.
I'm looking for strong impulse, then wait correction to 0.618-0.786 Fibo level and jump into the trade with Risk Reward 1:2.
If Fibo 0.618 - then RR = 1:2 If Fibo 0.768 - then RR = 1:4
There is a good setup, not so risky&profitable, it can be like a regular salary on the market)