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Flag trading the trend

  • #501
  • Mar 1, 2011 6:45pm Mar 1, 2011 6:45pm
there was a signal at 1315 but you wpould have to close before news maybe a half a win look at 755 gmt bar thats the trigger to go long
  • #502
  • Mar 1, 2011 6:50pm Mar 1, 2011 6:50pm
sujith thst candle way out of range in trend if it happened lower yes but where it was no good
  • #503
  • Mar 1, 2011 6:56pm Mar 1, 2011 6:56pm
Thanks for the reply. Regarding the 755 GMT signal, since the horizontal level was broken, wasn't there a potential trend change with the arrow showing the higher low that was broken?
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  • #504
  • Mar 1, 2011 7:36pm Mar 1, 2011 7:36pm
my line was lower nut remember its a zone and price action what i mean is say it takes out a low and pulls back and gives us a signal and a flagline can be drawn then it validates the break
  • #505
  • Mar 1, 2011 7:55pm Mar 1, 2011 7:55pm
Quoting Divergence
my line was lower nut remember its a zone and price action what i mean is say it takes out a low and pulls back and gives us a signal and a flagline can be drawn then it validates the break
Thanks.
  • #506
  • Edited 8:10pm Mar 1, 2011 7:59pm | Edited 8:10pm
here is a chart from today very ugly choppy day if you dont see neat swings just stay away. Heres the big picture if you can trade 1 and 1/2 hrs in asian and 3 hrs in usa there are on average 22 trading days a month. I dont trade thursday night or friday when non farms are coming out on first friday each month. So if there are 21 days less the 1 that means 42 trading sessions thats why 20 trades are possible . I had 21 trades in february please dont ask how many won you wouldnt believe me any way but if you get the hang of this you will discover how many i won by back testing february and you will be convinced of how i trade this
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  • #507
  • Mar 1, 2011 8:01pm Mar 1, 2011 8:01pm
Took this one on the E/J late in the day, any comments?
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  • #508
  • Mar 1, 2011 8:13pm Mar 1, 2011 8:13pm
sujith the question is why you going short when trend is still up?
  • #509
  • Mar 1, 2011 8:17pm Mar 1, 2011 8:17pm
Quoting Divergence
sujith the question is why you going short when trend is still up?
Hi Div,

My thinking was the left arrow showed a higher low which was broken and price could not take out the right arrow the higher high, so I assumed a downtrend. am slightly confused here.
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  • #510
  • Mar 1, 2011 8:20pm Mar 1, 2011 8:20pm
Would you please post your trades before or during the trades? not after the trades. then we can learn from it during the trade.

Quoting jdcompute
well, with this method I no longer have to try to trade London. Here are two wins I took tonight and now I'm off to bed until later. Not looking to trade until after the news at 9AM CST.
  • #511
  • Mar 1, 2011 8:21pm Mar 1, 2011 8:21pm
i understand but when price bounced off low you could have went long see the 5 wave pattern plus there was no flagline on the entry i hope you won but ... dont just use the 2 indicators to enter unless you are absolutely clear which way trend is there are 42 trading sessions 20 of them with show clear stuff hey peterson as i have mentioned before in past posts when its time to trade i manage an acct i need to be 100% focused i am not doing a signal service i gave you all the info on this thread read it study impiment it if you cant get well then i dont what else to say i am not mentoring people at this time maybe 1 day
  • #512
  • Mar 1, 2011 8:26pm Mar 1, 2011 8:26pm
Quoting Divergence
i understand but when price bounced off low you could have went long see the 5 wave pattern plus there was no flagline on the entry i hope you won but ... dont just use the 2 indicators to enter unless you are absolutely clear which way trend is there are 42 trading sessions 20 of them with show clear stuff
Div,

Yes it was a winner, but at this stage I am concerned more about doing it right and your feedbacks are helping a lot.
  • #513
  • Mar 1, 2011 8:32pm Mar 1, 2011 8:32pm
i believe sujith you will get this dont put so much pressure on yourself zoom chart out and make candles smaller lean back and you will see chart a little clearer and just ask yourself which direction is it traveling
  • #514
  • Mar 1, 2011 8:34pm Mar 1, 2011 8:34pm
Quoting Divergence
i believe sujith you will get this dont put so much pressure on yourself zoom chart out and canldes are smaller lean back and you will see chart a little clearer and just ask yourself which direction is it traveling
True. Point taken.
  • #515
  • Mar 1, 2011 8:48pm Mar 1, 2011 8:48pm
I have a couple of questions regarding the chart that Sujith attached. I added some other text to see if I/we can get clarification.

1. The white letters are how I would label that up trend. Would this be correct?
2. The Orange Bigger letters would be from a larger timeframe. One question is whether or not the first WHITE HH would actually be a HH? Or not because it has not broken the Orange HH?
3. Which one of the horizontal lines would you use to consider the trend down? I see the point of Sujith that the Green line was broken and a newer HH was not made, therefore downtrend. But, if it using the previous or one further back HL (the yellow line with the white HL) as the swing low then it would not be down until the Yellow Line is broken. Yes or No? Why?
4. Or would it finally be the red line being the swing low? Yes or no? Why?

Thanks for the insight and help.
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  • #516
  • Mar 1, 2011 8:52pm Mar 1, 2011 8:52pm
Quoting Rcwso
It is one of the settings you can choose when you put the 10 SMA indicator on your chart. If you use MT4, right click on the 10 SMA and the options window will open up. An "apply to" drop down will allow you to check the "median HL/2."
Got it - Thanks Rcwso.
  • #517
  • Mar 1, 2011 8:56pm Mar 1, 2011 8:56pm
the red line looks like the last level of support for the up trend but the line above that is where i would look to short why? see the price action around there
  • #518
  • Mar 1, 2011 8:58pm Mar 1, 2011 8:58pm
in fact price went below pullback and gave a signal to short not to long ago
  • #519
  • Mar 1, 2011 9:01pm Mar 1, 2011 9:01pm
As far as my understanding goes, I don't think the the HH HL etc in orange and the red line etc are relevant, the white ones are all that you need. If you go to higher TFs or go back too much in the 5M chart, you are going to have lot of such points, but again I may be wrong.
  • #520
  • Mar 1, 2011 9:03pm Mar 1, 2011 9:03pm
heres chart of that eurjpy trade
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