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Flag trading the trend

  • #461
  • Feb 28, 2011 8:18pm Feb 28, 2011 8:18pm
well we did have a trigger to go long price went up stalled and came again against me i saw divergence at top so when price came back up i took a small 3 pip loss almost was able to go short counter trend but it never triggered after 2 attempts so thats that
  • #462
  • Feb 28, 2011 8:27pm Feb 28, 2011 8:27pm
just like a trade yesterday in post 421. so, we need to watch the divergence after we enter a trade.
Quoting Divergence
i saw divergence at top so when price came back up i took a small 3 pip loss
  • #463
  • Feb 28, 2011 8:28pm Feb 28, 2011 8:28pm
  •  Frv
  • | Joined Dec 2010 | Status: Keep working and you will get there | 77 Posts
divergence on the top....wait fot the set up confirm....going down....right???
" Keep walking and you will get there "
  • #464
  • Feb 28, 2011 8:32pm Feb 28, 2011 8:32pm
Quoting Divergence
well we did have a trigger to go long price went up stalled and came again against me i saw divergence at top so when price came back up i took a small 3 pip loss almost was able to go short counter trend but it never triggered after 2 attempts so thats that
Hi Div,

I assume you got out at the 0:55 bar, am I right? Also, would appreciate your comment on post #450
  • #465
  • Feb 28, 2011 8:35pm Feb 28, 2011 8:35pm
Quoting Divergence
well we did have a trigger to go long price went up stalled and came again against me i saw divergence at top so when price came back up i took a small 3 pip loss almost was able to go short counter trend but it never triggered after 2 attempts so thats that
Thanks for your comment. I was just about to do the same when i saw the divergence, close the trade in about 3-4 pips loss but was not sure about it. Next time i will.

From where do you define the 2 pips distance from the SMA? Is it in downtrend the trigger bar high and in uptrend the trigger bar low? Sorry if this has been answered earlier, i must been missed it.
  • #466
  • Feb 28, 2011 8:36pm Feb 28, 2011 8:36pm
yes and sujith the trade at post 450 wrong time of day and also look at how many setups before then you cant go to the well that many times
  • #467
  • Feb 28, 2011 8:41pm Feb 28, 2011 8:41pm
Quoting Divergence
yes and sujith the trade at post 450 wrong time of day and also look at how many setups before then you cant go to the well that many times
Thanks Div, agreed that there were many long setups before that and shouldnt have taken it but was the time wrong, it was 1600 GMT. Am I missing something?
  • #468
  • Feb 28, 2011 8:45pm Feb 28, 2011 8:45pm
you cant go to the well that many times
  • #469
  • Feb 28, 2011 8:47pm Feb 28, 2011 8:47pm
But I am done for the night.

4.5% during NY and -2% During Tokyo. Great Day!

Hope I am seeing correctly...



G'nite,
FS
Attached Image (click to enlarge)
Click to Enlarge Name: Screen shot 2011-02-28 at 9.40.45 PM.png Size: 41 KB
  • #470
  • Feb 28, 2011 8:49pm Feb 28, 2011 8:49pm
not sure what all those lines are fx sam also sujith it seems it was a winning trade a lot later
  • #471
  • Feb 28, 2011 8:56pm Feb 28, 2011 8:56pm
Quoting Divergence
not sure what all those lines are fx sam also sujith it seems it was a winning trade a lot later
Yes it would have been if I had placed the stop below the pullback but it was more than 30 odd pip stop and so I used a 26-pip stop and got stopped out. No worries, have not had too many of those so far.
  • #472
  • Feb 28, 2011 9:04pm Feb 28, 2011 9:04pm
30 is limit to do 26 pip stop this was 38
  • #473
  • Feb 28, 2011 9:04pm Feb 28, 2011 9:04pm
Divergence;

do you always close your trades after certain amount of profit
or are there times when you just ride the profits as long as possible?

thank you...
  • #474
  • Feb 28, 2011 9:05pm Feb 28, 2011 9:05pm
Div,

If there is no news at 8:30, do you still stick to the 1400-1700 time window or u start looking for potential trades at 1300?
  • #475
  • Feb 28, 2011 9:06pm Feb 28, 2011 9:06pm
Quoting Divergence
30 is limit to do 26 pip stop this was 38
oh ok. Yes, it was a bad trade to get into.
  • #476
  • Feb 28, 2011 9:10pm Feb 28, 2011 9:10pm
i look to hit my target and no more if news at 830 i start at 845
  • #477
  • Edited 9:37pm Feb 28, 2011 9:22pm | Edited 9:37pm
Was there a valid trade at 0235 GMT on the EU for a continuation of the up trend?

What about the following chart? Is there a rule about what type of candle needs to form for an uptrend vs down trend?
Attached Image (click to enlarge)
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  • #478
  • Feb 28, 2011 9:35pm Feb 28, 2011 9:35pm
for the current situation,
there is no trend now.
if price goes up above 1.3830, then it's an uptrend,we will wait for long.
If price goes down below 1.3799, then it's a downtrend, we will wait to short.
am I right?
Attached Image (click to enlarge)
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  • #479
  • Feb 28, 2011 9:45pm Feb 28, 2011 9:45pm
I am assuming that we are still in an uptrend from several hours ago. I have not seen any HL broken on the downside that would say we are in a down trend. I am looking for a break of the 1.3760 area for a down trend. I could be wrong and am willing to admit that.

Any other explanations?
  • #480
  • Feb 28, 2011 9:59pm Feb 28, 2011 9:59pm
We are still in an uptrend but you would not find enough momentum at this time. For Asian session, better stop trading at 130 GMT.
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