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Flag trading the trend

  • #1,921
  • Edited 6:57am Mar 23, 2011 6:44am | Edited 6:57am
Flag is forming just now on the EU 5m

fun
  • #1,922
  • Mar 23, 2011 7:11am Mar 23, 2011 7:11am
Div, R you looking to trade a bounce off of 4140 or hold for the next downswing below 4140. I can't make up my mind...
  • #1,923
  • Mar 23, 2011 7:16am Mar 23, 2011 7:16am
notice how price bounced off 4140 area earlier then waved up a long could have been taken at 86 target 04 who
which is resitance then short from there now its bounced off support
  • #1,924
  • Mar 23, 2011 7:26am Mar 23, 2011 7:26am
123 forming
  • #1,925
  • Mar 23, 2011 7:30am Mar 23, 2011 7:30am
Quoting Divergence
123 forming
Are you showing divergence as well? I only show it between two candles. Is that enough to go with the 123?
  • #1,926
  • Mar 23, 2011 7:37am Mar 23, 2011 7:37am
I saw a flag forming and took the trade below and closed at 34

arrow is entry white line is exit

Attached Image (click to enlarge)
Click to Enlarge Name: div77.gif Size: 23 KB
  • #1,927
  • Mar 23, 2011 7:51am Mar 23, 2011 7:51am
[quote=FXwest;4492858]I saw a flag forming and took the trade below and closed at 34

arrow is entry white line is exit





took the same trade got +16
  • #1,928
  • Mar 23, 2011 7:52am Mar 23, 2011 7:52am
good job

I saw the last high around 11 pips and got out a little early
  • #1,929
  • Mar 23, 2011 7:54am Mar 23, 2011 7:54am
I took this set up as it looked good to me, but as per rules did I jump the gun?
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 42 KB
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  • #1,930
  • Edited 8:28am Mar 23, 2011 7:57am | Edited 8:28am
I got requoted and watched it leave the station. I suppose now there is a good chance of a 123 set up down here?
  • #1,931
  • Mar 23, 2011 8:05am Mar 23, 2011 8:05am
it looks good to me

this is about what I saw as well

maybe it will form another now or a 123
we will see
  • #1,932
  • Mar 23, 2011 8:23am Mar 23, 2011 8:23am
this one was too far from the EMA for us to enter it looks like
  • #1,933
  • Edited 8:45am Mar 23, 2011 8:28am | Edited 8:45am
Let's see where will that trade go?
Entered just at the pullback of breaking 1.4140...

EDIT: Trade stopped @ BE.
Attached Image (click to enlarge)
Click to Enlarge Name: trade example.gif Size: 32 KB
  • #1,934
  • Mar 23, 2011 8:34am Mar 23, 2011 8:34am
I had thought that the 2nd bar was too far from the ema to take that trade, doesnt it have to be max 2.5 or 2.6 ?
  • #1,935
  • Mar 23, 2011 8:36am Mar 23, 2011 8:36am
- EUR/AUD trades from today London time
btw EUR/USD I am still bullish.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD,M5_2011-03-23_14-26-22.jpg Size: 389 KB
  • #1,936
  • Mar 23, 2011 8:38am Mar 23, 2011 8:38am
Quoting FXwest
I saw a flag forming and took the trade below and closed at 34

arrow is entry white line is exit

Attachment
+++++++++
Nice catch. Been up all night. 6:30 am here. waiting for the debris to clear. Some how I missed this one. But in next one below it. I'm at BE on this one so now it's wait and see time.
  • #1,937
  • Mar 23, 2011 8:41am Mar 23, 2011 8:41am
Quoting diamonddbw
+++++++++
Nice catch. Been up all night. 6:30 am here. waiting for the debris to clear. Some how I missed this one. But in next one below it. I'm at BE on this one so now it's wait and see time.
No worries, theres always another coming

I get up at 415 PST to get ready for the open
  • #1,938
  • Mar 23, 2011 8:43am Mar 23, 2011 8:43am
So far 2 textbook trades for me. 17 + 8 pips.

Been a pleasure trading alongside with you Div. You stayed out of your trading time to see us guys through; thumbs up

fun
  • #1,939
  • Mar 23, 2011 8:49am Mar 23, 2011 8:49am
Quoting FXwest
I had thought that the 2nd bar was too far from the ema to take that trade, doesnt it have to be max 2.5 or 2.6 ?
I think it applies to the setup bar, which actually touched the MA, which is sma not ema. Or am I wrong? I got requoted, price jumped after... so i missed this one (too).
  • #1,940
  • Mar 23, 2011 8:55am Mar 23, 2011 8:55am
Quoting zee
I think it applies to the setup bar, which actually touched the MA, which is sma not ema. Or am I wrong? I got requoted, price jumped after... so i missed this one (too).
sma, and yes its for setup bar
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