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Flag trading the trend

  • #1,341
  • Mar 16, 2011 10:41am Mar 16, 2011 10:41am
div--thanks for the reply i guess that confirms that i had my up/down line in the correct spot, just failed to execute step 4 (get in trade)
  • #1,342
  • Mar 16, 2011 10:48am Mar 16, 2011 10:48am
Quoting Divergence
took this last one only price stayed in the sell zone after it went down and pulled back
hi div,

can u draw the sell zone line for today?

Thank You
Today's You was Your previously Thought.
  • #1,343
  • Mar 16, 2011 10:56am Mar 16, 2011 10:56am
tbjohnton thanks I wasn't taking this into account. Good point. Probably different broker (alpari uk), and I use heiken ashi candles, makes trends easier to spot. Still confused as to what is the true swings, I enter alot of trades after price seems to break my last swing, changing the bias and then looking for trades (in the wrong direction)
  • #1,344
  • Mar 16, 2011 11:05am Mar 16, 2011 11:05am
below 3860
  • #1,345
  • Mar 16, 2011 11:06am Mar 16, 2011 11:06am
to further explain what Im talking about, heres a random day with problems I bump into. Im doing something wrong because no one else is . I realise your going to say the trend is still up, but why? cos I always end up trading ones like these:

http://oi53.tinypic.com/24mdsnc.jpg
  • #1,346
  • Mar 16, 2011 11:17am Mar 16, 2011 11:17am
Quoting Divergence
below 3860
just want to confirm... 3860 or 3960?

Thank You
Today's You was Your previously Thought.
  • #1,347
  • Mar 16, 2011 11:42am Mar 16, 2011 11:42am
3960 is sell zone
  • #1,348
  • Mar 16, 2011 11:42am Mar 16, 2011 11:42am
Quoting chewz
to further explain what Im talking about, heres a random day with problems I bump into. Im doing something wrong because no one else is . I realise your going to say the trend is still up, but why? cos I always end up trading ones like these:
It looks like you are using Heinken Ashi candles, which will certainly alter the look and feel of this method.
  • #1,349
  • Mar 16, 2011 12:27pm Mar 16, 2011 12:27pm
Div

Love your method
Attached Image (click to enlarge)
Click to Enlarge Name: chart eurusd 2288.gif Size: 24 KB
  • #1,350
  • Mar 16, 2011 12:34pm Mar 16, 2011 12:34pm
Hi guys!

me too i find it difficult to identify trend and which swing has to be taken out etc,,,hope i ll get it soon!

one question: for a short trade , the trigger bar has to be down bar or can it be an up bar closing below sma and -50 cci? (reverse for a long)

tx and many pips to all!!
  • #1,351
  • Mar 16, 2011 12:40pm Mar 16, 2011 12:40pm
chewz, try to look at the bigger picture, zoom out on your charts and see where support became resistance and vice versa, and use that as the line you want broken, then wait for a pullback to confirm that line, then enter after trigger bar is broken. draw the 3960 line on today's chart and see why div. used that level (price kept testing it as support, then once it broke and the pullback didnt break it, time to look for a short trigger)---remember div only has around 20 trades/mth (1/day) so dont rush it thinking you need a bunch every day, he's trying to show us how to catch the high probability ones
  • #1,352
  • Mar 16, 2011 12:43pm Mar 16, 2011 12:43pm
Hi Guys,as a newbie to this method would anyone say I'm premature with my entry
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 26 KB
  • #1,353
  • Mar 16, 2011 12:49pm Mar 16, 2011 12:49pm
tedge, it does look early since cci wasnt with you, yet. remember div. doesnt trade after 11am est, probably a good rule to follow when trading with real money. entry a few bars later followed the rules
  • #1,354
  • Mar 16, 2011 1:06pm Mar 16, 2011 1:06pm
Chews...take a look at your charts please. You are using 2(!) times the same indi.

First indicator should be CCI period 8 like you do (retracement finder/entry confirmation)
Second should be a RSI indicator with a period of 8!

Heiken Ashi candles are smoothing the PA, I dont know if they fit in this strategy like the usual ones do. Furthermore you cannot calculate the stops/TPs etc. with HeikenAshi-Candles the same way its done here!

Hope this helps a littlebit.

Oxi
  • #1,355
  • Mar 16, 2011 1:13pm Mar 16, 2011 1:13pm
Quoting Tedge UK
Hi Guys,as a newbie to this method would anyone say I'm premature with my entry
Hi Tedge

you have to wait for the retracement indi to go below the 50 and then view the trigger bar to see if it is not to far away. please see chart below as I took this trade earlier.

Arrow shows the trigger and the horizontal line shows exit.

hope that helps
Attached Image (click to enlarge)
Click to Enlarge Name: chart eurusd 2288.gif Size: 24 KB
  • #1,356
  • Mar 16, 2011 1:26pm Mar 16, 2011 1:26pm
There ia a EA to test this strategy in DEMO
  • #1,357
  • Mar 16, 2011 1:27pm Mar 16, 2011 1:27pm
Quoting Divergence
3960 is sell zone
I love what you are doing here Div, you got my vouch. I still have to read the whole thread yet. I'm at page 9 and liking it alot.

Cheers.
  • #1,358
  • Mar 16, 2011 1:30pm Mar 16, 2011 1:30pm
guys do yourself a favor remove stuff that will influence you to take or not take a trade like find pivot points ashi crop or any other indicator just the price will give you the answer you need for finding trend waiting for rollback finding trigger bar enter trade on break of trigger bar make money
  • #1,359
  • Mar 16, 2011 1:35pm Mar 16, 2011 1:35pm
i was wondering when someone would ask that this is trading not abracadabra lol
  • #1,360
  • Mar 16, 2011 1:37pm Mar 16, 2011 1:37pm
Quoting d4n
Darryl...

Have a look at the word doc you posted and tell me which picture on there is the same as the trade you took????
++++++++++++++++++++++++++++++++

10-4 D4. Linear Semantics. lol
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