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Flag trading the trend

  • #2,001
  • Mar 23, 2011 10:40pm Mar 23, 2011 10:40pm
Annoyed that I missed the entry point on the pound yen trade, got distracted, c'est la vie
  • #2,002
  • Mar 23, 2011 10:43pm Mar 23, 2011 10:43pm
Quoting silversurfer
Annoyed that I missed the entry point on the pound yen trade, got distracted, c'est la vie
I was wondering if you were going to take it. How do you overcome the large spreads at times? I know it moves a lot as well, but to be down several pips from the beginning seems difficult at times.
  • #2,003
  • Mar 23, 2011 10:46pm Mar 23, 2011 10:46pm
I was wondering the same thing RC.
  • #2,004
  • Mar 23, 2011 10:48pm Mar 23, 2011 10:48pm
Quoting tb62
Anybody watching eurgbp?
What is your game plan? Trend direction? Support/Resistance? What do you want to do?

I have looked at it for just a second.
  • #2,005
  • Mar 23, 2011 11:12pm Mar 23, 2011 11:12pm
I was looking to go short, but it never triggered.
  • #2,006
  • Mar 23, 2011 11:19pm Mar 23, 2011 11:19pm
Quoting tb62
Anybody watching eurgbp?
This pair also has limited daily range. It usually just moves during London session. Probably better pickin's elsewhere.
  • #2,007
  • Mar 23, 2011 11:39pm Mar 23, 2011 11:39pm
Quoting diamonddbw
This pair also has limited daily range. It usually just moves during London session. Probably better pickin's elsewhere.
I agree. Also, look at the fact that it just bounced off a pretty nice support line that holds from a while back. I would think it might need to break that line in order to go down. Look for the HH/LL type things to see what happens next.
  • #2,008
  • Mar 24, 2011 12:28am Mar 24, 2011 12:28am
My approach to trading pairs with higher spreads is essentially the same, just factor in a bigger spread to the 1 pip gap. Spread on pound yen is around 2.5 to 2.8 compared to 1.2-1.7 on eurusd, if the pair has a decent daily range it's not a problem although you do get to wear a lot more heat due to the higher volatility.
  • #2,009
  • Mar 24, 2011 2:10am Mar 24, 2011 2:10am
Took this trade...setup candle closed just below the 10MA and but was a spinning candle so not the best setup I've seen...entry candle broke the TL...had a little bit of heat before it decided to move...I know its a little early but I find there's often moves around Asian closes/Frankfurt open...1:1 on exit at support...
Attached Image
  • #2,010
  • Mar 24, 2011 2:18am Mar 24, 2011 2:18am
Nice work. I did not take it because was before london open
  • #2,011
  • Mar 24, 2011 2:23am Mar 24, 2011 2:23am
us chf the first one technical view R turned into S

HI DIV,,, would u take the euro if u were sitting in front of pc?
euro , would this b a no trade because of that divergence?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eu div.jpg Size: 78 KB
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  • #2,012
  • Mar 24, 2011 2:32am Mar 24, 2011 2:32am
Quoting occamsrazors
Took this trade...setup candle closed just below the 10MA and but was a spinning candle so not the best setup I've seen...entry candle broke the TL...had a little bit of heat before it decided to move...I know its a little early but I find there's often moves around Asian closes/Frankfurt open...1:1 on exit at support...
++++++++++++++++++++++++++++++++

I liked this one also. Did well. This Balanced my day because I had a GU Loss in early Asian Session.
  • #2,013
  • Mar 24, 2011 3:21am Mar 24, 2011 3:21am
First trade of the day. I thought the trend was down at the time. Good trading to all. Ray
Attached Image (click to enlarge)
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  • #2,014
  • Mar 24, 2011 3:21am Mar 24, 2011 3:21am
Hello Chaps,
are you guys logged into the trading room?

IRC channel online #FlagTrading

- online 24/7
- no registration needed
- purpose: live trading

1. just join> http://chat.efnet.org:9090/
2. choose nickname
3. channel: #FlagTrading

Cheers,
PureSymmetry
Enter Signature
  • #2,015
  • Mar 24, 2011 3:36am Mar 24, 2011 3:36am
I logged in, but it looked very cryptic and i couldn't figure out how to use it. What happened to the PalTalk room?
  • #2,016
  • Mar 24, 2011 3:58am Mar 24, 2011 3:58am
Hey,
you can chat away by typing in at the bottom of the page in the white band..
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  • #2,017
  • Edited 5:23am Mar 24, 2011 5:05am | Edited 5:23am
what i dislike is when the first candle eats up too much, it steals from my pips
the blue is broken support
Attached Image (click to enlarge)
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  • #2,018
  • Edited 5:49am Mar 24, 2011 5:11am | Edited 5:49am
short at the 1st arrow not taking divergence into considration -20 but went long at the second arrow, i exit at +11



made earlier exit price got to target of 4135. i still need more time.

thanks to DIV, my demo acc is now in profit and my real acc is yet
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  • #2,019
  • Mar 24, 2011 5:23am Mar 24, 2011 5:23am
Quoting dortFX
short at the 1st arrow not taking divergence into considration -20 but went long at the second arrow, i exit at +11
Was wondering why you traded long. Trend is still considered down in my opinion.
  • #2,020
  • Mar 24, 2011 5:28am Mar 24, 2011 5:28am
So guys, where do you have resistance level to change the trend. I'm seeing the 4150 area.
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