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Flag trading the trend

  • #921
  • Mar 9, 2011 11:20pm Mar 9, 2011 11:20pm
Quoting Sujith
Hi Friend RC,

How is it going?
looking at the AUDUSD right now for a an entry. What do you think?
  • #922
  • Mar 9, 2011 11:28pm Mar 9, 2011 11:28pm
on the aussie we have had a decent 80 point move - might be time for me to sit on the sideline.
  • #923
  • Edited Mar 10, 2011 3:07am Mar 9, 2011 11:29pm | Edited Mar 10, 2011 3:07am
Quoting occamsrazors
Well it was fairly late Asian sesssion, but the move up earlier was a bit limp...got 123 pattern (although not quite a divergence) with TL break and close below 10 with RF -147 so decided to take it short as my major trend was down. Stop behind the 3 candle. There was small pullback after entry but when it broke the second TL and closed below 10MA again with a nice solid bearish candle I was pretty sure it was going to fall. Almost entered again lol.

Normally would have hung in for longer but staying with Mr Div's 1:1 ratio for the present...getting...
Nice one occam.. I've missed that one again
  • #924
  • Mar 9, 2011 11:41pm Mar 9, 2011 11:41pm
Quoting silversurfer
on the aussie we have had a decent 80 point move - might be time for me to sit on the sideline.
Two candles past anyway without a valid trigger.
  • #925
  • Mar 10, 2011 12:08am Mar 10, 2011 12:08am
it's probably not the best time to trade but this pair looks very promising for a short play
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf.gif Size: 20 KB
  • #926
  • Mar 10, 2011 12:08am Mar 10, 2011 12:08am
amazing what can happen whilst you're posting
  • #927
  • Mar 10, 2011 12:22am Mar 10, 2011 12:22am
Quoting Rcwso
looking at the AUDUSD right now for a an entry. What do you think?
Not so sure about the time of the day.
  • #928
  • Mar 10, 2011 2:32am Mar 10, 2011 2:32am
Quoting Rcwso
Just out of curiosity, how do you count that as a 123 if there was no divergence? I understand your labeling but according to Divergence's plan you utilize the 123 following actual divergence. Where does your trade fall in accordance with Divergence's plan?

Just wondering and learning.
Hi Rcwso

You are right. There was no divergence on the RSI (nearly but not quite) but there was divergence on another indicator I use and I mentioned the 123 because I saw it. It wasn't necessary for the trade, but it did give me extra comfort that the cross of the the 10 and flag break was real. I like seeing 123 patterns on TL breaks. And because it was with the overall downtrend that I saw I thought the odds were very much in my favour (other than time of day).

My understanding is that Mr Div takes flag breaks across the 10MA with retracment finder >-50 in line with the trend. I viewed the moves beforehand as retracements/pullbacks of that downtrend and when it showed the short signal I took it. That was my logic... hope it makes sense Occam
  • #929
  • Mar 10, 2011 2:41am Mar 10, 2011 2:41am
Anyone have a view on whether this is a proper divergence set up?
Attached Image (click to enlarge)
Click to Enlarge Name: aus.gif Size: 17 KB
  • #930
  • Mar 10, 2011 2:57am Mar 10, 2011 2:57am
I am not taking the divergence trades but it looks okay to me.
Enter Signature
  • #931
  • Mar 10, 2011 3:12am Mar 10, 2011 3:12am
wish me well i took it at 43.5
  • #932
  • Mar 10, 2011 4:17am Mar 10, 2011 4:17am
Hi - can anyone please tell me where to get that neat cci histogram that some of you guys are using? Please.
  • #933
  • Mar 10, 2011 4:20am Mar 10, 2011 4:20am
Quoting silversurfer
Anyone have a view on whether this is a proper divergence set up?
++++++++++++++++++++++++++++++++


Looks like valid div to me too.
  • #934
  • Mar 10, 2011 4:22am Mar 10, 2011 4:22am
Quoting jobates
Hi - can anyone please tell me where to get that neat cci histogram that some of you guys are using? Please.
++++++++++++++++++++++++++++++++


I think this is the one you're talking about.
Attached File(s)
File Type: ex4 CCI histogram.ex4   4 KB | 591 downloads
  • #935
  • Mar 10, 2011 4:22am Mar 10, 2011 4:22am
Quoting jobates
Hi - can anyone please tell me where to get that neat cci histogram that some of you guys are using? Please.
Check the attachments paperclip up on the right hand side of the thread. There's one called 1-retracement_finder.mq4. Post 110
  • #936
  • Mar 10, 2011 4:49am Mar 10, 2011 4:49am
My divergence set up hasn't really played out as yet. time will tell whether I come out in good or bad shape.
  • #937
  • Mar 10, 2011 4:51am Mar 10, 2011 4:51am
Thank you diamonddbw for your kindness - much appreciated. Bless you
  • #938
  • Mar 10, 2011 5:01am Mar 10, 2011 5:01am
Quoting silversurfer
Hi occams
that's a nice indicator for bar time and spread - where did you get it from? I'd like to use it please.
Hi Silversurfer...sorry I didn't see your post before now...can't remember where I got it...unfortunately I only have the .ex4 file not the .mq4. Here it is
Attached File(s)
File Type: ex4 Candle Time & Spread.ex4   3 KB | 427 downloads
  • #939
  • Mar 10, 2011 5:04am Mar 10, 2011 5:04am
Thanks I'm no whiz on meta - will it work if I just load the exe file?
  • #940
  • Mar 10, 2011 6:34am Mar 10, 2011 6:34am
Quoting silversurfer
Thanks I'm no whiz on meta - will it work if I just load the exe file?
Yep silversurfer...just copy it into your experts/indicators folder and restart your platform and it will be there. Some people prefer to have the .mq4 version so they can see and comple the source code of what they are using...
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