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Flag trading the trend

  • #1,641
  • Mar 21, 2011 4:30am Mar 21, 2011 4:30am
Quoting B4iFUrU18
hi guys!

any particular reason why this trade was a loser?
just an aberration?

ty!

who am i to talk as a newbie in this thread but if i shall and dare - its ranging market //just what's on the pick//,no juice behind yr back
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  • #1,642
  • Mar 21, 2011 4:35am Mar 21, 2011 4:35am
Hi guys just discovered this awesome trading system, thanks you to Divergence and all the other contributors, now I'm off to study up so I hopefully dont ask to many stupid questions

Thanks again
  • #1,643
  • Mar 21, 2011 4:37am Mar 21, 2011 4:37am
Quoting B4iFUrU18
hi guys!

any particular reason why this trade was a loser?
just an aberration?

ty!
Hi B4...overall trend may be long, but there PA is still stuck in its range from the Asian session and Frankfurt open...and there was a doji just before your entry...not a pretty chart....just chopping around...
  • #1,644
  • Mar 21, 2011 5:01am Mar 21, 2011 5:01am
Quoting occamsrazors
Hi B4...overall trend may be long, but there PA is still stuck in its range from the Asian session and Frankfurt open...and there was a doji just before your entry...not a pretty chart....just chopping around...

that doji was at the London Open - a well known time for fake-outs / short term reversals et etc http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #1,645
  • Mar 21, 2011 5:06am Mar 21, 2011 5:06am
ok tx guys
  • #1,646
  • Mar 21, 2011 5:13am Mar 21, 2011 5:13am
Quoting Islander
that doji was at the London Open - a well known time for fake-outs / short term reversals et etc http://www.forexfactory.com/images/icons/icon12.gif
  • #1,647
  • Mar 21, 2011 5:35am Mar 21, 2011 5:35am
us cad might b cooking smth
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  • #1,648
  • Mar 21, 2011 5:52am Mar 21, 2011 5:52am
Quoting B4iFUrU18
hi guys!

any particular reason why this trade was a loser?
just an aberration?

ty!
The way I see your chart is that you were in a down trend after support was taken out at 1.4160.
  • #1,649
  • Mar 21, 2011 6:00am Mar 21, 2011 6:00am
Quoting Divergence
so noone intered in making money here is 1 more chart this time with my pullback verifier to locate a good flag trade
How does you "pullback verifier" work?
  • #1,650
  • Mar 21, 2011 6:10am Mar 21, 2011 6:10am
Quoting Toothman
The way I see your chart is that you were in a down trend after support was taken out at 1.4160.
It was still an uptrend. Look at Divergences posts last night talking about the EU. He talked about a downtrend would start at around the 1.4120 mark. If you zoom out on your chart you will see that area is more of the support. Personally, I had it around the 1.4140 area. Either way, the trend did not change at the 1.4160 mark.
  • #1,651
  • Mar 21, 2011 6:20am Mar 21, 2011 6:20am
Gday Divergence,

Nice looking/sounding trading method. I really hope everyone testing this approach is trying it out on a trade simulator or something. Would like to see peoples results on live demo accounts etc, some might get a shock as to how challenging it can be to make real decent money in the real world even using a simple method such as this. I mean if your not averaging 25k to 30k per month its not worth trading really. GOOD LUCK EVERYONE.
  • #1,652
  • Mar 21, 2011 6:22am Mar 21, 2011 6:22am
Quoting Rcwso
It was still an uptrend. Look at Divergences posts last night talking about the EU. He talked about a downtrend would start at around the 1.4120 mark. If you zoom out on your chart you will see that area is more of the support. Personally, I had it around the 1.4140 area. Either way, the trend did not change at the 1.4160 mark.
yes i agree, were and are still in uptrend

see, the resistance becomes support at 4140ish, so wait 4140 to be breakout for short..
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  • #1,653
  • Mar 21, 2011 6:29am Mar 21, 2011 6:29am
Quoting B4iFUrU18
yes i agree, were and are still in uptrend

see, the resistance becomes support at 4140ish, so wait 4140 to be breakout for short..
And if you look at the area over the past several hours it looks like we have had some divergence at the testing of the 1.4140 area which might get us back into the trend going up.

As a matter of fact, we just had a small pullback about an hour ago and a set-up bar 10 minutes ago. Thoughts?
  • #1,654
  • Mar 21, 2011 7:00am Mar 21, 2011 7:00am
Some of you are catching on here is a picture of whats going on
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  • #1,655
  • Mar 21, 2011 7:07am Mar 21, 2011 7:07am
You need to zoom out sometimes to gather whole picture before you zoom in on the present isnt that what history is all about? Think about that
  • #1,656
  • Mar 21, 2011 7:14am Mar 21, 2011 7:14am
Quoting Divergence
Some of you are catching on here is a picture of whats going on
Great picture.

So does that mean you are on the sidelines until we move through the 40 pip range? or will you trade the signals for an uptrend from the support line?
  • #1,657
  • Mar 21, 2011 7:19am Mar 21, 2011 7:19am
if i were trading earlier or if this action happened in my time session i would have entered long at the 60 candle there was divergence to get me back into the trend and market tipped its hand as to where support is target would be 79
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  • #1,658
  • Mar 21, 2011 7:24am Mar 21, 2011 7:24am
Quoting Divergence
if i were trading earlier or if this action happened in my time session i would have entered long at the 60 candle there was divergence to get me back into the trend and market tipped its hand as to where support is target would be 79
I got in on the small pullback just (1115 GMT). Not sure if I should have but I got my pips/money. My target was 1.41785 which it hit. Took almost an hour, which may have been a little long. I can't complain.

May not have been the best trade, but I think I am seeing it more and learning from it.

Thoughts Divergence?
  • #1,659
  • Mar 21, 2011 7:27am Mar 21, 2011 7:27am
i think this holds 'in' and will help 'out' of the range

http://www.forexfactory.com/images/m...dar_upnext.gif 2:00pm gmt EUR ECB President Trichet Speaks
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  • #1,660
  • Mar 21, 2011 7:29am Mar 21, 2011 7:29am
well trend was up there was a pullback you found setup bar it entered you managed trade you made money so i guess you followed the plan only thing is i dont see entry bar next 2 candles didnt get you in?
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