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Are you a trend trader or a counter-trend trader? 29 replies

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Flag trading the trend

Quoting trzcinek
At which level does your sell zone (downtrend) starts ?

I would say 1.42210, but not sure about that ...
Remember what Divergence says about zooming the chart out. I am not so sure that the 1.4220 area is considered an area of support or resistance. May on the short term, but I can't find a spot going back/zooming out that 1.4220 was a significant point. That is why I think most are leaning towards the 1.4200 (aggressive) or the 1.4140. Just my thoughts. If you look at his charts, many times he is using the support or resistance that is actually one prior to the most recent/closest one. The one that holds more support or resistance, if that makes sense. Not the small choppy ones that happen all the time.
Quoting Rcwso
Same.

Really looking for it to break the 1.4140 area to say it is a downtrend overall. If it breaks the 1.4200 and then re-tests and goes down, maybe time for some short positions. But still "counter trend" in my mind until it goes past 1.4140 or tests and goes back up.
fully agree!
I completely share your point of view ! Thanks !

Quoting Rcwso
Remember what Divergence says about zooming the chart out....
"A goal without a plan is just a wish" - Antoine de Saint-Exupery
Just my observations

Head and shoulder with 123 setup also divergence
Attached Image (click to enlarge)
Click to Enlarge Name: hs setup.gif Size: 29 KB
Hello all,

I got this on EU for +20pips.. was it right or just lucky?
Attached Image (click to enlarge)
Click to Enlarge Name: eu-flag.gif Size: 24 KB
Quoting diamonddbw
OK, got most of the molasses out of viewing the video's. They will now be posted on Vimeo.com in streaming fashion so will get that info out in the next 24 hours. Of course it's free. You will need to sign up for free vimeo acct. Once you do I will add you to the contact list for exclusive viewing.
Hi Diamond,
I´m a junior member and would like to see the video´s.
My skype is d.s.pinheiro.
Thanks,
dsp
Quoting a2xm
Hello all,

I got this on EU for +20pips.. was it right or just lucky?

well, it is actually not a downtrend yet... so i bit risky to trade against the trend...
Quoting a2xm
Hello all,

I got this on EU for +20pips.. was it right or just lucky?
u made trade against trend ;-)
I took that trade, knowing against the larger trend. Everything else was textbook. Will stand aside for rest of the day
Quoting specracer
Diamond, on your Aud trade, i saw that too, but i did not take it because the price didn't break the high by a pip in first two candles. And when i add the spread it definitely didn't take me in. Do you add one pip plus your spread for an entry level? That would typically require two to three pips above the setup candle high...
++++++++++++++++++++++++++++++++

Sure looks to me like candle following set up candle was entry candle.
Only needs to exceed entry by one pip. The spread gets added to your target.
Quoting patient pip
hi diamond
not to argue, but if the yellow was the entry i think it wasnt exactly by the rules - not to make them the only thing cast in the stone though.
i think if by the rules, the entry would be on that black vertical line if it went 1 pip over the previous doji's top wick - which closed on cci over +50. thats how i understand it, pls fix me if i am wrong ;-)
and that post i posted before was usd/chf ,,3 days in 70 pips range,
cheers
++++++++++++++++++++++++++++++++

Exceeds Set Up Closing by one pip.
thanks for the clarification. i use fxcm charts and it didn't show 1 pip advance on mine. (sometimes it works your way and sometimes it doesn't)
Hi folks, in a post: 1411 there are rules when to trade:

"Trade from 00:00 to 01:30 GMT and 14:00 to 17:00 GMT. (London session to be determined, but quiet after 10:00)."

I'm looking for an indicator which can put a lines or color at these times.

I can modify for example time zones in mql if someone have this indicator.

I plan to backtest about a hundred trades using Div's system and it would be a great help.

Any help appreciated.

euraud breaking through last support at 1.4040...
too early for a short in EU?
Attached Image (click to enlarge)
Click to Enlarge Name: loser.PNG Size: 29 KB
is anyone else going blind watching these charts going no-where?
Quoting MysticRiver
Hi folks, in a post: 1411 there are rules when to trade:

"Trade from 00:00 to 01:30 GMT and 14:00 to 17:00 GMT. (London session to be determined, but quiet after 10:00)."

I'm looking for an indicator which can put a lines or color at these times.

I can modify for example time zones in mql if someone have this indicator.

I plan to backtest about a hundred trades using Div's system and it would be a great help.

Any help appreciated.

Try eitherh of these...
Attached File(s)
File Type: mq4 Xi-VLines20v1.02.mq4   13 KB | 356 downloads
File Type: mq4 Sessions.mq4   8 KB | 334 downloads
Quoting B4iFUrU18
too early for a short in EU?
downtrend starts after 1.4140 imho...
Quoting specracer
thanks for the clarification. i use fxcm charts and it didn't show 1 pip advance on mine. (sometimes it works your way and sometimes it doesn't)
++++++++++++++++++++++++++++++++

Firstly, you must be smarter than me 'cause I can never figure out how to use fxcm charts even though I've had them for 18 months. lol

It was very tight in the entry bar area. The reason I liked this entry so much was that in it's current mini uptrend there were no pullbacks of significance. I've watched alot of charts, and when price begins to move with a steady unwavering direction, as price did here, it's initial pullback will almost always be countered with a return to the direction it was headed before the PB, and usually will continue for enough of a run to make entry here profitable.

Have a look at various charts. Make sure you have a 10 sma or ema on them. Once price begins a new run, watch how when it does retrace, how often it will bounce in the vicinity of the 10 sma, not just on 5m charts but almost all charts. This is not a rule of the Flag method but an observation pointed out to me which you can readily see on what we're doing here because we work with the 10 sma.

For those who have just begun reading this thread, the moving average used here is the 10 sma Median Price (H/L2)
Quoting inad07
downtrend starts after 1.4140 imho...
so you are still looking for long set up ??
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