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Flag trading the trend

yes sujith the triger bar was correct but if next candle didnt take you into trade you use next bar as long as cci is above 50 and bar is on or above 10 sma and not more than 2 pips away from sma if that didnt take out no trade the second one was perfect also trading at 1800 gmt is not a good time 00 gmt to 130 for asian 1400 to 1700gmt for usa sessions you want to trade a high probability trading setup in a high probability time area
heres a usd cad trade
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Hi Div,

Thanks for your reply, really appreciate your feedback. I didn't understand which bar you are referring to when you mention that it shouldn't be more than 2 pips from SMA. Also, would like to know your opinion about timings for the London session.
on your first chart you had arrow at right trigger bar but nexy bar or bar after that didnt take out high as for london session i suppose starting around 7 gmt to around 10 ish might do well
Thanks again. On the USD/CAD chart, just before the swing was taken out there were a pullback and a potential short, wouldn't you take that trade?
i see what you are talking about but you need last swing to be taken out first cause technically the trend was still up when swing was taken out trend changed then you wait for pullback then entry bar which is why i showed that trade on chart and not the other
Quoting Divergence
i see what you are talking about but you need last swing to be taken out first cause technically the trend was still up when swing was taken out trend changed then you wait for pullback then entry bar which is why i showed that trade on chart and not the other
Got it.
here are 2 trades today
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heres 1 that just reached target 5 waves also complete divergence is forming
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the simple way i determine elliot waves is this after i get a 123 formation and it triggers past point 2 wave 3 is under way now the elliot wave rule is this that wave 3 can not be the smallest of the 3 waves so what i do is measure the distance wave 1 has went and wave 3 must go at least that distance then i can tell the wave is intack so if you look at this move down in the eurusd wave 1 started at 3681 and went down to 3625 before it pulled back thats 56 pips i then start the add the 56 from the high of wave 2 ( the pullback) and wave 3 is offical in my book when it gets to 3591 so now i know there is 1 move wave to go and thats the setup i just posted
Div. I saw that too. if a 123 forms is there a trend change, and if so will you take the trade north
Quoting Divergence
heres 1 that just reached target 5 waves also complete divergence is forming
what i would do in this situation is to let 123 form then if a bar closes and the high is with 2 pips of point 2 and bar is above 10 sma and +50 on the cci i would enter that way which is really ther trend trade entry the div and 123 are the info need to do trade it is late in session though so keep that in mind o the days when we could do this in the trading room ah those were the days my friend
I remember it well............had a lot of fun and laughs too....
Quoting Divergence
what i would do in this situation is to let 123 form then if a bar closes and the high is with 2 pips of point 2 and bar is above 10 sma and +50 on the cci i would enter that way which is really ther trend trade entry the div and 123 are the info need to do trade it is late in session though so keep that in mind o the days when we could do this in the trading room ah those were the days my friend
So if a pullback develops before wave 3 reaches 56 pips in the above case, you won't trade the continuation of that pullback?
it certainly was a blast so you are totally redeemed markets dont move because of you anymore but me lol
no suith i dont want to trade the end of a wave 5 because what happens is thats when the 123s form to reverse thats the abc that happens at the end of the 5 wave pattern all i am saying guys is you want to know where you are in the midst of the trend so you dont go to the well to many times if you know what i mean. also what happens quite often is you get a wave 6(another pullback not to trade0 then it takes out last low and forms divergence lots happens at the end of a trend
Thats very funny
Quoting Divergence
it certainly was a blast so you are totally redeemed markets dont move because of you anymore but me lol
Quoting Divergence
no suith i dont want to trade the end of a wave 5 because what happens is thats when the 123s form to reverse thats the abc that happens at the end of the 5 wave pattern all i am saying guys is you want to know where you are in the midst of the trend so you dont go to the well to many times if you know what i mean. also what happens quite often is you get a wave 6(another pullback not to trade0 then it takes out last low and forms divergence lots happens at the end of a trend
Thanks
  • Post #139
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  • Edited 11:15pm Feb 21, 2011 10:59pm | Edited 11:15pm
if i were trading this right now this candle when it closes would be a trigger bar to go long but again the time is a constaint it must take out high of this candle by 1 full pip and it just did so stop at 77 target 03 also when i get to within 5 pips of my target i move stop to BE and watch price action and if i see a bounce i will take a few less its never a sin to take 90+5 profit of a trade thats why i dont trade at this time 15 minutes have past price has moved 1 pip well time for bed good trading to all
Signing Up. Simple clean system.
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