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Flag trading the trend

  • #61
  • Feb 16, 2011 7:10pm Feb 16, 2011 7:10pm
hey joel i usually trade the asian session and if nothing happens in first 1 1/2 hrs i call it a night tonight one of those ok i understand the 30 to 1 thing is i average about 20 trades a month so i quess your math is right never thought of it that way just cash wise .
  • #62
  • Feb 16, 2011 7:24pm Feb 16, 2011 7:24pm
ok........... thats good to know, thanks
Quoting Divergence
hey joel i usually trade the asian session and if nothing happens in first 1 1/2 hrs i call it a night tonight one of those ok i understand the 30 to 1 thing is i average about 20 trades a month so i quess your math is right never thought of it that way just cash wise .
  • #63
  • Feb 16, 2011 7:31pm Feb 16, 2011 7:31pm
Quoting Divergence
nice port dave the fib isnt really nessesary but the flag was good this is a 1 to 1 r/r so stop and target the same this is an incredibly high win pct with about 20 trades a month
Thanks Div - understand about the fib, just extra confluence.

20 trades a month - is that just trading EUR on 5m in the two sessions you mentioned earlier? i.e 0000-0130 and 1400-1700GMT

Have you tried other pairs or times? Have the results been similar or do these times just suit you?

Thanks
Dave
  • #64
  • Feb 16, 2011 8:09pm Feb 16, 2011 8:09pm
yes thats just the eurusd this can be traded on any time frame any pair any market as long as there is a trend you r good to go or divergence too also even without the visual guide of the indicator you can just draw the flag line like i post 1 so this is not just see an indicator and follow it its truely simplified price action results might vary on other pairs based on volitility but a trend is a trend
  • #65
  • Feb 16, 2011 8:27pm Feb 16, 2011 8:27pm
though i dont trade at this time divergence is forming right now a cross and close of sma and retracement finder closes at -50 or better ??????
  • #66
  • Feb 16, 2011 9:42pm Feb 16, 2011 9:42pm
Quoting Fun Demental
Hope that helps
Again, Thanks!
  • #67
  • Feb 17, 2011 3:38am Feb 17, 2011 3:38am
Did I do something wrong here?

Price broke pullback trend line, past EMA, CCI was below -50 on trigger candle, entry at green price label, stop loss at red price label.
Attached Image (click to enlarge)
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  • #68
  • Feb 17, 2011 7:25am Feb 17, 2011 7:25am
I took 2 demo trades from 1 minute chart. 1st hit tp but 2nd hit SL. The 2nd trade was 10 min before NY open though. I wouldn't trade that on live. Any comments for these trades?
Attached Image (click to enlarge)
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  • #69
  • Feb 17, 2011 2:50pm Feb 17, 2011 2:50pm
ok ultimus heres the problem. it where you put trade on. trend started with the large candle 10 candles back. second thing is when you have 3 lower lows and 2 lower highs the 5 wave pattern is complete. thirding the candle that closed below the 10 ema and cci closed below -50 was never triggered heres a chart to show all this
Attached Image (click to enlarge)
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  • #70
  • Feb 17, 2011 3:12pm Feb 17, 2011 3:12pm
If you flag-traders want a prime example of a flag, check out EUR/CAD 30m chart. Thats a flag.
Measure twice, cut once
  • #71
  • Feb 17, 2011 3:26pm Feb 17, 2011 3:26pm
aediaz firstly there was no flag on your blog so nice try second this is a different type of flag than the regular bull and bear flag formation this is a type of pullback entry to get back into the trend hopefully everyone comprehends that
  • #72
  • Feb 17, 2011 4:02pm Feb 17, 2011 4:02pm
Quoting Divergence
ok ultimus heres the problem. it where you put trade on. trend started with the large candle 10 candles back. second thing is when you have 3 lower lows and 2 lower highs the 5 wave pattern is complete. thirding the candle that closed below the 10 ema and cci closed below -50 was never triggered heres a chart to show all this
Hi Divergence - Could you please explain the reason for not including the two unmarked swings between your [lower low 1] and [lower high 1] in your consideration/interpretation?
  • #73
  • Feb 17, 2011 5:03pm Feb 17, 2011 5:03pm
well if you want to call it a higher higher higher low it becaomes just a 3 wave pullback in the down trend so thats why i just call it a swing lower high it after the fact so no problem since i was looking to get back into the down trend plus you have divergence with those 2 peaks telling me we should resume downtrend soon
  • #74
  • Feb 17, 2011 5:55pm Feb 17, 2011 5:55pm
Nice thread. Eur just broke the swing high 3618 now lets see if she will take the bait and resume up. tex
  • #75
  • Feb 17, 2011 6:05pm Feb 17, 2011 6:05pm
By that do you mean retrace then head up again
Quoting tex123
Nice thread. Eur just broke the swing high 3618 now lets see if she will take the bait and resume up. tex
  • #76
  • Feb 17, 2011 6:34pm Feb 17, 2011 6:34pm
Hi Divergence,

Slightly confused about the swings and pullbacks. In the attached chart, why is the part marked with the arrow not considered a pullback? Thanks for all the good info provided in this thread.
Attached Image (click to enlarge)
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  • #77
  • Feb 17, 2011 6:42pm Feb 17, 2011 6:42pm
Quoting Joel
By that do you mean retrace then head up again
Hi Joel ,Yes, The tokoyo starts in about 20 minutes.Hopefully this will bring in some votality and boost up or down. Have to be careful being so close.
  • #78
  • Feb 17, 2011 6:48pm Feb 17, 2011 6:48pm
Quoting Joel
By that do you mean retrace then head up again
Also 3600 should bring some resistance orsupport...then 3675....
  • #79
  • Feb 17, 2011 7:22pm Feb 17, 2011 7:22pm
Thank You
Quoting tex123
Also 3600 should bring some resistance orsupport...then 3675....
  • #80
  • Feb 17, 2011 7:29pm Feb 17, 2011 7:29pm
slueth i dont see sma or cci but it appears to be a pullback also why you looking to trade at midnight est
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