MaryJane
Long

IBM -Bullish Flag is triggered -TP 169$ ?

NYSE:IBM   INTERNATIONAL BUSINESS MACHINES CORP
216 10 41
IBM             with a calssical bullish Flag!

Two psoitions are thinkable:

Long: Stopbuy @ 154,10$ - TP 169$
Short: Stoppsell @ 142.5$ - TP 130$

The Zone between these mentioned levels seems to be neutral from a procycical view. - here is no Action             needed.
If u prefer anticyclical positions, a shortposition at the actual Level could be interesting to short IBM            

In my Chart i have illustrated the two procyclical positions

Good Luck
Trade active: illustrated longposition stopped in
Comment: nice one!
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Trade closed: target reached:
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Related Ideas

Good work, it was indeed a very extended one. Thanks for sharing
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THX, indeed, a flag with much phantasy :-) @S_A, here my newest view:
Next upmove ahead?
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Thank you for your explanation. I go and made my own analyze where I compare viewes with monthly candels, wekly and dayly and I am still short. If you comment my view I will be very pleased.

Link:
IBM multitimeframe resistance
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MaryJane matjaz70
Hey matjaz70, your short setup definetely makes sense at the moment. Your illustrated resistances are really obvious. In the higher timeframe, a short is ok - but that`s not MY personell trading style. I never fight against trends, and for me the midterm trend is the most present trend, so i watch this trend. The midtermtrend is a clear bullish pattern, a bullish flag - one of my favorite and preferred breakout Patterns. I prefer pure PROcyclical Setups, i try to avoid " anticyclical high risk" trades. At this Moment, there is no longsignal - the Signal only is valid, if IBM tardes above the flags top edge.
As Long as IBM is trading below your illustrated trendlines, a short Position has a right to exist :-)
good luck!
Reply
MaryJane MaryJane
Today the market is with you bro :-) Actually, you did all right :-)
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I see more distribution and brakeout, but for no reason I have bearish bias. From chart I could not decide? Do you set enter into trade in advance?, where do you have stops?
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MaryJane matjaz70
hey matjaz70 - as Long we are trading in between the "neutral Zone" no action is needed. I have illustrated the two entry Points in my Chart. (green and red arrow). Typically, you trade the flag on the longside, when the last High will be overbeaten (here: 154$). The initial SL could then be the flag body´s bottom edge (here 142,3$). Where you place your sl depends on the timeframe you are trading. If you just want to catch the possible breakout move, the sl should be installed near below the flags upper edge. At the Moment, a sl @150,5 is thinkable, if you want to enter the market just for a short time.
On the other hand, you can try to short the upper edge of the flags Body. here should be the sl a bit above the flags Bodys uper edge, for example @154,5.
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MaryJane MaryJane
https://www.tradingview.com/chart/GG2%21/UUCKiKfF-The-psychological-origin-of-a-flag/
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MaryJane MaryJane
snapshot

perhaps this is useful for u
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MaryJane MaryJane
Introduction into 1-2-3 Trading Pattern

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