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Flag trading the trend

  • #861
  • Mar 9, 2011 3:21am Mar 9, 2011 3:21am
Quoting diamonddbw
My 1st post here. Have been stalking this post for awhile now. I think I understand, however not sure where I went wrong, or did I just pick the wrong 1 in 30.

So I'm watching this E/U 123 reversal set up. In the middle of this I see what looks like a flag trade set up.
• Breach of recent 5 min swing
• Retrace 6 bars to set up a trendline break
• Entered @ 1 pip above Trigger Bar (on Red Vertical Line)*
*This was one pip above the trigger bar wick. Should it have been the "Real Body"?

Entry, Stop & Targets marked in Yellow....
Hey Diamond...it takes a little bit at first to get used to seeing the LL and HLs, keep at it ...this was how I saw the chart at that time...still in downtrend as others have said, LHs and LLs, looking for shorts...
Attached Image (click to enlarge)
Click to Enlarge Name: EU_2011-03-09_2013_Mr_div_explanation.png Size: 69 KB
  • #862
  • Mar 9, 2011 3:25am Mar 9, 2011 3:25am
Friends,

Can the following be called a flag or am I imagining things up?
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 66 KB
  • #863
  • Mar 9, 2011 3:35am Mar 9, 2011 3:35am
Quoting Sujith
Friends,

Can the following be called a flag or am I imagining things up?
Yep looked like it to me...it just fell too hard and fast for an entry...
  • #864
  • Mar 9, 2011 3:37am Mar 9, 2011 3:37am
Quoting occamsrazors
Yep looked like it to me...it just fell too hard and fast for an entry...
Yes, I didn't take it but was wondering if my thinking was right
  • #865
  • Mar 9, 2011 4:03am Mar 9, 2011 4:03am
Quoting diamonddbw
My 1st post here. Have been stalking this post for awhile now. I think I understand, however not sure where I went wrong, or did I just pick the wrong 1 in 30.

So I'm watching this E/U 123 reversal set up. In the middle of this I see what looks like a flag trade set up.
• Breach of recent 5 min swing
• Retrace 6 bars to set up a trendline break
• Entered @ 1 pip above Trigger Bar (on Red Vertical Line)*
*This was one pip above the trigger bar wick. Should it have been the "Real Body"?

Entry, Stop & Targets marked in Yellow.

Trade was up...
Hi there as i understand Divergence states he only trades the asian open.London and Frankie open can give fake moves so maybe something to be aware of.
  • #866
  • Mar 9, 2011 4:09am Mar 9, 2011 4:09am
1
Quoting pepper
Hi there as i understand Divergence states he only trades the asian open.London and Frankie open can give fake moves so maybe something to be aware of.
  • #867
  • Mar 9, 2011 4:33am Mar 9, 2011 4:33am
Hi guys,

it's a really great thread, thank you Divergence for sharing! Read all of it (some parts more than once).
I have a question here though.
Please see chart attached. On candle A the MA & flag is broken, but CCI is not yet under 50. On next bar (bar B) CCI is under 50, and high of the candle is just less than 2 pips. Do you enter 1 pip below candle B? Or is this a no-go?
Anyone who knows...
Thanks! And keep posting!
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 89 KB
  • #868
  • Mar 9, 2011 4:47am Mar 9, 2011 4:47am
Quoting zee
Hi guys,

it's a really great thread, thank you Divergence for sharing! Read all of it (some parts more than once).
I have a question here though.
Please see chart attached. On candle A the MA & flag is broken, but CCI is not yet under 50. On next bar (bar B) CCI is under 50, and high of the candle is just less than 2 pips. Do you enter 1 pip below candle B? Or is this a no-go?
Anyone who knows...
Thanks! And keep posting!
Hi,

Div mentioned anything less than 2.4 pips is ok, so in that sense it is a valid trade, but I don't take trades after 10 GMT as the market seems to chop around after that time, but my observations are limited to a few months only.
  • #869
  • Mar 9, 2011 5:37am Mar 9, 2011 5:37am
Div comment on this one please
Attached Image (click to enlarge)
Click to Enlarge Name: 5.gif Size: 26 KB
  • #870
  • Mar 9, 2011 6:11am Mar 9, 2011 6:11am
Quoting vince
Div comment on this one please

cannot qualify as trigger bar...not yet reach -50.
Today's You was Your previously Thought.
  • #871
  • Mar 9, 2011 6:19am Mar 9, 2011 6:19am
Quoting justinforex
cannot qualify as trigger bar...not yet reach -50.
trigger bar was second from the right and it was way lower -50
  • #872
  • Mar 9, 2011 6:48am Mar 9, 2011 6:48am
Quoting Sujith
Hi,

Div mentioned anything less than 2.4 pips is ok, so in that sense it is a valid trade, but I don't take trades after 10 GMT as the market seems to chop around after that time, but my observations are limited to a few months only.

Quoting justinforex
cannot qualify as trigger bar...not yet reach -50.
Looks like there's a disagreement here. Score is 1-1 so far. Hope Div can give an answer.
  • #873
  • Mar 9, 2011 6:51am Mar 9, 2011 6:51am
Quoting zee
Looks like there's a disagreement here. Score is 1-1 so far. Hope Div can give an answer.
Hi Zee,

No disagreement about the validity of the trade, just that I don't like the time of the trade.
  • #874
  • Mar 9, 2011 6:54am Mar 9, 2011 6:54am
Quoting Sujith
Hi Zee,

No disagreement about the validity of the trade, just that I don't like the time of the trade.
Yes, I mean you said it's valid while justinforex said it wasn't valid. I think it's valid, but wasn't sure, that's why I've asked.
Thanks for the replies btw!
  • #875
  • Mar 9, 2011 7:04am Mar 9, 2011 7:04am
Quoting zee
Yes, I mean you said it's valid while justinforex said it wasn't valid. I think it's valid, but wasn't sure, that's why I've asked.
Thanks for the replies btw!
oh ok. got you.
  • #876
  • Mar 9, 2011 7:06am Mar 9, 2011 7:06am
Seems valid to me.
Enter Signature
  • #877
  • Mar 9, 2011 7:19am Mar 9, 2011 7:19am
I think we have a trend change with price moving above the LH (1.3924) just before the LL (1.3855). Do I have that right?
  • #878
  • Mar 9, 2011 7:20am Mar 9, 2011 7:20am
Quoting Brapp
I think we have a trend change with price moving above the LH (1.3924) just before the LL (1.3855). Do I have that right?
I agree with you.
  • #879
  • Mar 9, 2011 7:32am Mar 9, 2011 7:32am
Quoting vince
trigger bar was second from the right and it was way lower -50
the second bar was >2 pips from MA....no qualify.
Today's You was Your previously Thought.
  • #880
  • Mar 9, 2011 7:40am Mar 9, 2011 7:40am
Quoting justinforex
the second bar was >2 pips from MA....no qualify.
I didn't think the 2nd to last bar was > 2 pips from ma
Enter Signature
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