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Flag trading the trend

  • #2,481
  • Mar 31, 2011 7:08am Mar 31, 2011 7:08am
Looks like we got a definite trend direction this morning on the EU, I hope we get some good pull backs.
I know Mr. Div does not start trading until 8:45 EST. I was wondering if anybody has had much luck taking trades any earlier then that. It seems that I miss some good market movement on some days if I wait until 8:45?

Or if any other pairs trade well at different times?
  • #2,482
  • Mar 31, 2011 7:53am Mar 31, 2011 7:53am
123 i miss this. hope i am right.
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  • #2,483
  • Mar 31, 2011 7:55am Mar 31, 2011 7:55am
didnt take it, but i was thinking the same thing, and zooming out, 4230 was a good resistance level
  • #2,484
  • Mar 31, 2011 8:00am Mar 31, 2011 8:00am
The way I was seeing it was as div on that 2-3 leg....either way...same bias...short. I didn't take it either.
  • #2,485
  • Edited 9:06am Mar 31, 2011 8:04am | Edited 9:06am
11.3 pips after spread nice bounce off of R3
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  • #2,486
  • Mar 31, 2011 8:13am Mar 31, 2011 8:13am
So, are we still long, experiencing a pullback on Euro/ USD?
  • #2,487
  • Mar 31, 2011 8:14am Mar 31, 2011 8:14am
what we need now is a bounce off the 50-60 area followed by a pullback and away we go
  • #2,488
  • Mar 31, 2011 8:23am Mar 31, 2011 8:23am
Quoting Joel
So, are we still long, experiencing a pullback on Euro/ USD?
I think he's talking about a possible short Joel...since it broke support earlier off of the 123 or div. at the top of the move.
  • #2,489
  • Mar 31, 2011 8:28am Mar 31, 2011 8:28am
Quoting dortFX
123 i miss this. hope i am right.
No divergence at point 1. Divergence 123 at point 3 but too close to news for me.
  • #2,490
  • Mar 31, 2011 8:28am Mar 31, 2011 8:28am
Please excuse my ignorance I am just learning the nuances of Forex.

D4N what do you mean by 50 60 area?

Also are we not in a down trend since we tested 4202 area and have come back down on the EU?
  • #2,491
  • Mar 31, 2011 8:33am Mar 31, 2011 8:33am
For anyone still not sure the overall EU trend is most definitely UP!

50-60 means 1.4150 to 1.4160
  • #2,492
  • Mar 31, 2011 8:45am Mar 31, 2011 8:45am
News now and in 15m. Enter trades cautiously.
  • #2,493
  • Mar 31, 2011 8:45am Mar 31, 2011 8:45am
I agree overall is up....short is counter trend, but it still looks like a short flag shaping up. Could be wrong....
  • #2,494
  • Edited 8:53am Mar 31, 2011 8:49am | Edited 8:53am
Quoting d4n
For anyone still not sure the overall EU trend is most definitely UP!

50-60 means 1.4150 to 1.4160
++++++++++++++++++++++++++++++++

I agree UP.

For how long though?

• If you go way out you will see euro is making a triple top on daily charts.

• Dollar index is at weekly supply trend line.

• GBP, similar to the euro, @ daily resistance.

This may be somewhat far sighted for our purposes, but something to keep in mind.
  • #2,495
  • Mar 31, 2011 8:59am Mar 31, 2011 8:59am
I am confused on which way trend is now at 9:58 est. SOOOO I am staying out though set up looks short to me at moment
  • #2,496
  • Mar 31, 2011 9:01am Mar 31, 2011 9:01am
d4, did you go long at 808?
  • #2,497
  • Mar 31, 2011 9:04am Mar 31, 2011 9:04am
I'm still looking short myself
  • #2,498
  • Mar 31, 2011 9:05am Mar 31, 2011 9:05am
Quoting tb62
d4, did you go long at 808?
No, but i can see what you are thinking.... i like to see a bit more of a pullback than that.

I will try to help those still struggling with the trend later on.
  • #2,499
  • Mar 31, 2011 9:18am Mar 31, 2011 9:18am
I wish to remind all the 'confused' guys what Div said on one of the webinars
which is very important to this trading system: we concentrate on one time frame to find trends and that is the 5 Mins'. currently we are in DOWN trending movement (16:00 GMT) and we should look for pullbacks to the upside. assumming we must take trades at this time of day.

fun
  • #2,500
  • Mar 31, 2011 9:22am Mar 31, 2011 9:22am
Quoting skifaster
I am confused on which way trend is now at 9:58 est. SOOOO I am staying out though set up looks short to me at moment
Ski
Overall trend is up, US market typically is a retracement market from London, trade the price action,trade small when in doubt.
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