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Flag trading the trend

  • #2,121
  • Mar 25, 2011 5:00pm Mar 25, 2011 5:00pm
ok ist trade that candle was below 10sma but the close of cci i have at -47 if it was -50 then you saw it correct . the possible trade that didnt trigger had cci below -50 but price was above 10 sma to go short it must have closed on or below 10 sma and cci must be at least -50 the 3 trade goldylocks was just right lol
  • #2,122
  • Mar 25, 2011 5:07pm Mar 25, 2011 5:07pm
Quoting Divergence
ok ist trade that candle was below 10sma but the close of cci i have at -47 if it was -50 then you saw it correct . the possible trade that didnt trigger had cci below -50 but price was above 10 sma to go short it must have closed on or below 10 sma and cci must be at least -50 the 3 trade goldylocks was just right lol
Thanks for the quick reply, must have missed the bit about the candle being in the direction that we are going...

1st trade on mine was -52 so ok.

If i recode your retracement finder to have a different colour when above/below 50/-50 can I post it??

John
  • #2,123
  • Mar 25, 2011 5:08pm Mar 25, 2011 5:08pm
Quoting Divergence
ok ist trade that candle was below 10sma but the close of cci i have at -47 if it was -50 then you saw it correct . the possible trade that didnt trigger had cci below -50 but price was above 10 sma to go short it must have closed on or below 10 sma and cci must be at least -50 the 3 trade goldylocks was just right lol
if i understand it right, those trades are from today, and i thought today we were in an up trend until it broke 4110... am i correct?
  • #2,124
  • Mar 25, 2011 5:15pm Mar 25, 2011 5:15pm
well 2 ways to think about that if we went short on break of 4203 then we are in down trend yesterday price went up but 4203 area contained i would look for short around 4150 area we will discuss this more at webinar
  • #2,125
  • Mar 25, 2011 5:19pm Mar 25, 2011 5:19pm
Quoting vince
if i understand it right, those trades are from today, and i thought today we were in an up trend until it broke 4110... am i correct?
Hi Vince

that was part of my confusion, I took the break of the last HL prior to the last HH, for me the last HH was at 16:30 GMT on the 24th, so I took the HL prior to that at 16:20 GMT

then the market was rangebound a bit so wasnt sure what to do with the highs & lows

hence my question on the validity of the trade

Regards
John
  • #2,126
  • Mar 25, 2011 5:24pm Mar 25, 2011 5:24pm
webinar tonite enter at 645pm heres linkhttp://www.freebinar.com/tradingthetrend1 every ones welcome
  • #2,127
  • Mar 25, 2011 5:52pm Mar 25, 2011 5:52pm
starting in 5 minutes
  • #2,128
  • Mar 25, 2011 6:19pm Mar 25, 2011 6:19pm
Quoting Toothman
Here's a very good pdf that explains how to trade 123 patterns for those new to trading them, me included. http://www.trading-naked.com/library/123system.pdf

Cheers for the pdf read Toothman, really good explanation on the 1-2-3 trading system
  • #2,129
  • Mar 25, 2011 7:37pm Mar 25, 2011 7:37pm
Hi All

as I am lazy and dont like to check the values of the retracement finder provided earlier, i have coded a new one

this one you can set the level, then if the value is above the level then it will be one color, below the level(multiplied by -1) another color, and between another color.

Defaults are Blue, Red and LightGray for in between the levels

Pic below

Regards

John
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_retracementfinder.gif Size: 26 KB
Attached File(s)
File Type: ex4 !Retracement Finder.ex4   3 KB | 519 downloads
  • #2,130
  • Mar 25, 2011 9:53pm Mar 25, 2011 9:53pm
Quoting jmw1970
Hi All

as I am lazy and dont like to check the values of the retracement finder provided earlier, i have coded a new one

this one you can set the level, then if the value is above the level then it will be one color, below the level(multiplied by -1) another color, and between another color.

Defaults are Blue, Red and LightGray for in between the levels

Pic below

Regards

John
++++++++++++++++++++++++++++++++

Awesome job jmw. I'm sure many of us will benefit from your work.
Thanks,
Darryl
  • #2,131
  • Mar 25, 2011 10:06pm Mar 25, 2011 10:06pm
Quoting jmw1970
Hi All

as I am lazy and dont like to check the values of the retracement finder provided earlier, i have coded a new one

this one you can set the level, then if the value is above the level then it will be one color, below the level(multiplied by -1) another color, and between another color.

Defaults are Blue, Red and LightGray for in between the levels

Pic below

Regards

John
Good job John, thank you, I'm lazy too
  • #2,132
  • Mar 25, 2011 10:10pm Mar 25, 2011 10:10pm
Quoting davidb
Attached revised version to correct typo.

Jeff, I've added at your suggestion times to trade based on Divergence's posts. It's qualified in that he does not trade the London morning session whereas a lot of people do. I've put in Sujith's observation that things quieten down after 10:00. I've read elsewhere that activity picks up again after another 90 minutes or so and I suspect that may be the case.

Probably the best advice is trade around the market open times if possible to catch the volatility and avoid the quiet times.
Hi davidb, Thanks for the PDF, I have a question regarding defining a trend. I posted a video, if anyone can take a look and explains it, that would be greatly appreciated.

Leelar

Inserted Video
  • #2,133
  • Mar 25, 2011 10:45pm Mar 25, 2011 10:45pm
Hi Leelar
When you see the first sign of a uptrend. Its best to wait for the first pull-back (or retracement), to happen. In other words. the first Higher Highs, and Higher-Lows. Thus we have higher probability that price is going on uptrend.

Its also important to draw support and resistance line from the past few hours or minutes. That way you can forecast where price maybe going.

Divergence draws these Support and Resistance on his chart. You will need train your eyes to see these support and resistance levels.

Regards
Lawton
  • #2,134
  • Mar 25, 2011 11:43pm Mar 25, 2011 11:43pm
Quoting jmw1970
Hi All

as I am lazy and dont like to check the values of the retracement finder provided earlier, i have coded a new one

this one you can set the level, then if the value is above the level then it will be one color, below the level(multiplied by -1) another color, and between another color.

Defaults are Blue, Red and LightGray for in between the levels

Pic below

Regards

John
Hey Jmw

Nice idea! Would it be possible for you to post the .mq4 file please? I just like to see what code I'm compiling and using

Thanks Occam
  • #2,135
  • Mar 26, 2011 2:11am Mar 26, 2011 2:11am
HEy JMW.. well done fella you rock!

Tho being even lazier, is there anyway to code and alarm/popup when the bars swing above/below a level? That way all we need to do is check the chart when the alarm fires and not before!

let me know your thoughts.

~PureSymmetry
Enter Signature
  • #2,136
  • Mar 26, 2011 2:20am Mar 26, 2011 2:20am
Chaps,
just wanted to thank you both for the knowledge (Divergence) and the recordings (DiamondDB).

Very good of and very much appreciated.

~PureSymmetry
Enter Signature
  • #2,137
  • Mar 26, 2011 2:42am Mar 26, 2011 2:42am
Thanks John,very nice. T
  • #2,138
  • Mar 26, 2011 2:50am Mar 26, 2011 2:50am
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
great system for beginners... and yet so simple why didnt i think about that...?
  • #2,139
  • Mar 26, 2011 3:09am Mar 26, 2011 3:09am
Quoting jmw1970
Hi All

as I am lazy and dont like to check the values of the retracement finder provided earlier, i have coded a new one

this one you can set the level, then if the value is above the level then it will be one color, below the level(multiplied by -1) another color, and between another color.

Defaults are Blue, Red and LightGray for in between the levels

Pic below

Regards

John



excellent and thx
making money in JimB2468 trading room
  • #2,140
  • Mar 26, 2011 4:47am Mar 26, 2011 4:47am
Quoting acetrader
Tedge UK,

Nothing magical, but check out The System II by FEB & you have it except the Flag has been added. Its on the 5M tf as well. Its all price action.

_________________

Nice info acetrader. I'm trying to make my trading profitable and i'm having a hard time for now, if you don't mind i'll take a look at that system and if i can make sense out of it, i'll definitely give it a try.

AntonieFx
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