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Flag trading the trend

  • #2,521
  • Mar 31, 2011 5:33pm Mar 31, 2011 5:33pm
another interesting view
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  • #2,522
  • Mar 31, 2011 5:36pm Mar 31, 2011 5:36pm
looking back on the chart, i believe we were already in an uptrend, but this resistance was needing to break to confirm a continued up movement, once it broke, then confirmed with the pullback, there was food around the corner to be had.
  • #2,523
  • Mar 31, 2011 5:47pm Mar 31, 2011 5:47pm
Up, experiencing a substantial pullback to test broken resistance that is now support.........
Quoting Divergence
question based on this chart which direction are we in
  • #2,524
  • Mar 31, 2011 5:50pm Mar 31, 2011 5:50pm
don pardo what does our guest joel win an all expense paid trip to macd
  • #2,525
  • Mar 31, 2011 5:53pm Mar 31, 2011 5:53pm
macd................is that in Spain????????????
Quoting Divergence
don pardo what does our guest joel win an all expense paid trip to macd
  • #2,526
  • Mar 31, 2011 5:59pm Mar 31, 2011 5:59pm
no concord nc
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  • #2,527
  • Mar 31, 2011 6:00pm Mar 31, 2011 6:00pm
Quoting Joel
Up, experiencing a substantial pullback to test broken resistance that is now support.........
Exactly. A substantial pullback that if tested successfully should produce more than 100 pips going down and if fails - much more.
It doesn't matter where it goes in the larger TF, the 5M H-L should provide the lead where to go for scalps.

Wouldn't you agree div?

fun
  • #2,528
  • Mar 31, 2011 6:02pm Mar 31, 2011 6:02pm
Quoting Divergence
no concord nc
OMG

completely lost you on that one...
  • #2,529
  • Mar 31, 2011 6:03pm Mar 31, 2011 6:03pm
I'd like to exchange the trip, for door # 7 The brand new CAR......
  • #2,530
  • Mar 31, 2011 6:08pm Mar 31, 2011 6:08pm
and here it is joel your very own car
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  • #2,531
  • Mar 31, 2011 6:12pm Mar 31, 2011 6:12pm
fundemental if price hit resistence then pullsback then breaks resistence then retests the area that was broke to see if that resistence turns into support so from there price has gone up and now its testing that resistance turned support area if broken and retested and then it goes down well then we are in a downtrend but as for now i still see it as up though trades can be taken short if setups occur but it would be counter trend trades which are ok also
  • #2,532
  • Mar 31, 2011 6:13pm Mar 31, 2011 6:13pm
macd?15m timeframe? come on man, this was suppose to be simple
  • #2,533
  • Mar 31, 2011 6:15pm Mar 31, 2011 6:15pm
just when you think you have the answers, div goes and adds more questions---but in all seriousness, thanks for continuing our education, we look forward to new and exciting lessons
  • #2,534
  • Mar 31, 2011 6:20pm Mar 31, 2011 6:20pm
tb that macd was for joel its his prize for getting right answer its my version of the internet big mac
  • #2,535
  • Mar 31, 2011 6:20pm Mar 31, 2011 6:20pm
Or Door #2
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  • #2,536
  • Mar 31, 2011 6:22pm Mar 31, 2011 6:22pm
there you go joel its door number 2 or 7 its your pick
  • #2,537
  • Mar 31, 2011 6:23pm Mar 31, 2011 6:23pm
Quoting Divergence
fundemental if price hit resistence then pullsback then breaks resistence then retests the area that was broke to see if that resistence turns into support so from there price has gone up and now its testing that resistance turned support area if broken and retested and then it goes down well then we are in a downtrend but as for now i still see it as up though trades can be taken short if setups occur but it would be counter trend trades which are ok also
Div

I absolutely agree. You are talking about the overall trend which is up. I was talking about the trading possibilities within your own system that presented themselves after the Unemployment Claims news release today. possiblities which by the way where good and made me some handsome pips today (although I tried to be cautious but could not resist the temptation )

Time to bed for me.
good pippin everybody.
  • #2,538
  • Mar 31, 2011 6:24pm Mar 31, 2011 6:24pm
yes those were the counter trend moves these level guys should be respected when it comes to see ing if you can hit your target or not dont try and break these for target
  • #2,539
  • Mar 31, 2011 6:29pm Mar 31, 2011 6:29pm
Hey Concord is great...we have the Speedway, Great Wolf Lodge, Concord Mills....endless good times.....good food....good fellowship...
  • #2,540
  • Mar 31, 2011 6:30pm Mar 31, 2011 6:30pm
and tb we have the MACD
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