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Flag trading the trend

  • #1,981
  • Mar 23, 2011 8:11pm Mar 23, 2011 8:11pm
Quoting tb62
Would this USDJPY be considered divergence possibly forming into 123? ( I think I attached it right) I'm a junior member so it might not be visible in time.
Which way are you saying the overall trend is going?
  • #1,982
  • Mar 23, 2011 8:16pm Mar 23, 2011 8:16pm
The overall trend is down, but my understanding is that divergence/123 trades are counter trend right?
  • #1,983
  • Mar 23, 2011 8:18pm Mar 23, 2011 8:18pm
I downloaded Firefox 4 today and all the font sizes in MT4 shrank ie data panel etc, anyone have ideas on how to increase the font size
  • #1,984
  • Mar 23, 2011 8:20pm Mar 23, 2011 8:20pm
Quoting tb62
The overall trend is down, but my understanding is that divergence/123 trades are counter trend right?
That is true. But they can also be to get back into the trend direction. The trend changes when it break support or resistance as appropriate.

I am not following the UJ at this time because of how choppy it has been and ranging. Also, too much going on in that part of the world right now after the natural disaster for me to jump in. Just my thoughts.
  • #1,985
  • Mar 23, 2011 8:25pm Mar 23, 2011 8:25pm
Gotcha, thanks for the reply!
  • #1,986
  • Mar 23, 2011 8:50pm Mar 23, 2011 8:50pm
Quoting tb62
Would this USDJPY be considered divergence possibly forming into 123? ( I think I attached it right) I'm a junior member so it might not be visible in time.
++++++++++++++++++++++++++++++++

UJ may not be the ideal pair. What we look for are pairs that trend well. Some days UJ doesn't move more than 30-40 pips.

ATR Last 30 Days:
E/U = 132
U/J = 89*
* Before Japanese Natural Disasters 30 Range for U/J was 64, Half of the E/U's range

Free Daily Range Calc here:
http://efx.tradesecuring.com/misc/
  • #1,987
  • Mar 23, 2011 9:06pm Mar 23, 2011 9:06pm
Ended up shorting the euro at 1.4102 for a 20 pip gain
Attached Image (click to enlarge)
Click to Enlarge Name: euro.jpg Size: 131 KB
  • #1,988
  • Mar 23, 2011 9:15pm Mar 23, 2011 9:15pm
Quoting silversurfer
Ended up shorting the euro at 1.4102 for a 20 pip gain
I didn't get 20 pips but managed to get just under 14. Patience was the key on this one. Been watching for the pullback to the resistance and then the signal came to continue down.

No complaints. Nice work.
  • #1,989
  • Mar 23, 2011 9:16pm Mar 23, 2011 9:16pm
I took and set a tp and went down to get some lunch and when i came back it had closed - better if i don't over manage the trade sometimes!
  • #1,990
  • Mar 23, 2011 9:18pm Mar 23, 2011 9:18pm
Quoting silversurfer
I took and set a tp and went down to get some lunch and when i came back it had closed - better if i don't over manage the trade sometimes!
Just out of curiosity, how did you enter at 1.4102? The set-up bar on my chart -1 pip showed more around the 1.4100 area? I know it is only 2 pips but on some of these trades it makes a difference between getting in and getting out.
  • #1,991
  • Mar 23, 2011 9:20pm Mar 23, 2011 9:20pm
keeping an eye on pound yen for a potential short - this pair always shows some action in the Tokyo arvo session
  • #1,992
  • Mar 23, 2011 9:23pm Mar 23, 2011 9:23pm
Quoting silversurfer
keeping an eye on pound yen for a potential short - this pair always shows some action in the Tokyo arvo session
Are you looking at the divergence near the resistance point around 131.65 area? possible 123 then look short?
  • #1,993
  • Mar 23, 2011 9:31pm Mar 23, 2011 9:31pm
didn't see the divergence i was just looking at how the last swing high around 70 hadn't been breeched
  • #1,994
  • Mar 23, 2011 9:33pm Mar 23, 2011 9:33pm
so guys how did you do today and how is the paltalk thing coming
  • #1,995
  • Mar 23, 2011 9:48pm Mar 23, 2011 9:48pm
i am in paltalk i cant find room
  • #1,996
  • Mar 23, 2011 10:16pm Mar 23, 2011 10:16pm
Hey Div. Tried this GU trade shortly after Asian session started today.

It did not make me happy. It did move the required one pip. GU appears to be in downtrend now.

Waiting patiently, that is until I get frustrated..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Picture 101.png Size: 58 KB
Click to Enlarge Name: GU 3-23-11.png Size: 65 KB
  • #1,997
  • Mar 23, 2011 10:21pm Mar 23, 2011 10:21pm
Quoting silversurfer
I downloaded Firefox 4 today and all the font sizes in MT4 shrank ie data panel etc, anyone have ideas on how to increase the font size

HIT CONTROL & + KEY
  • #1,998
  • Mar 23, 2011 10:22pm Mar 23, 2011 10:22pm
Hard to tell but what degree of angle did the flag line have - doesn't quite look like 45* to me
  • #1,999
  • Mar 23, 2011 10:23pm Mar 23, 2011 10:23pm
Thanks Cosmos that works for firefox but not for meta
  • #2,000
  • Mar 23, 2011 10:37pm Mar 23, 2011 10:37pm
Anybody watching eurgbp?
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