Flag trading the trend

ozzie i understand you are looking at a bigger picture which may unfold days down the road but the daily weekly monthly quarter yearly etc show something quite different for the sake of everyone here just stay on 5 minute chart thanks

heres a chart of this last trade that just hit target

d4n,

I have been on the wrong side of trades a couple of times when I have taken trades after 1700 GMT. Price tends to drift and go flat after 1700 GMT, at least the last couple of weeks it has. Better to stick to 1400-1700 GMT as Divergence suggested. I am no expert, just sharing my experience about trades late in the day

you are right sujith price tends to drift i also wait till 1515gmt when news is at 1500

In the chart posted below can someone help me with the following questions?

1. Which number would the swing high be for #1 and #2?
2. Which number would the swing low be for #3, #4, and #5?
3. What would numbers 6-10 be? Swing highs or lows or nothing?

Or if I am totally out to lunch, can someone straighten me out?

Thanks.

here is the simple answer to your question

Div,

I have some of the same concerns as Rcwso. Why is point 2 is Rcwso's chart not considered a swing high and also the 1.3555 area? Hope I am not boring you with the repetitive questions.

when price is going down and and it takes out the previous low then the last lower high is last swing you understand

Since point #2 and the pullback to 1.3555 area happened after the swing low was taken out, those are not considered as swing points. I hope my understanding is right

Here is how to look at swings

Thanks

notice that once the swing is taken out it comes back and test it why well it was support and now it trys to turn it into resistence thats how the market moves its called market structure once you train your eyes to see it you will start thinking of ways to use that info to profit with

is everyone understanding how to determine which way market is trending not just now but in general?

here is a chart of the eurchf i dont trade this pair but as i said this works on any pair any time frame any market no indicators either find trend then wait for pullback

heres a gold chart

sujith i do take 123 setups if the candle that first closes above 10sma and cci closes above 50 and high of that candle is within 2 pips of point 2 in the chart you are talking about but thats a counter trend trade the other charts are showing a pure trend change therefore thats trading with the trend not against it like the 123 thats a totally different setup

This last swing taken out, trend is now up or dwn, wait for pullback concept is really opening my eyes Thanks Mr. Divergence

yes joel thats trend trading at its finest the div and 123 are counter trend trades

With such a high w/l ratio i suppose it doesn't matter if we are a little flexible - but some of these flags are at too an acute angle to be taken from my understanding of the system.

Great system btw. Cheers Divergence.

This sure beats staying up for the london open......... usa est