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Flag trading the trend

  • #2,801
  • Apr 7, 2011 6:15am Apr 7, 2011 6:15am
You are right. we got cought into this 123 for some reason.
To me, to trade countertrend, you need to be almost sure that the trend is exhaused and it is anyway very dangerous.
I will concentrate on flags from now on.

Quoting d4n
Also people, dont concentrate all your efforts on 123's

This thread is called FLAG trading the trend... the flags are probably easier to trade than the 123's and there were a couple of possible winners this morning, one which Ray got and the other we missed.... plus if you master the flags first the 123's are easier to learn.




[i][color=#006400]Read the rules over and over until you fully understand them..... and then read them some more!
This system works as it is and will make you alot of money if you master it. Master it as it is before...
  • #2,802
  • Apr 7, 2011 6:18am Apr 7, 2011 6:18am
Quoting Divergence
well i have explained the basis on my trading setup i trade asian and us sessions and that about covers 90% 0f what i do its almost a flawless method that i would challenge anyone looking at the eurusd from 00 gmt till 130 gmt and from 1400 till 1700 to find more than 5 losses in last 9 months ta ta
Hi Divergence,
can you pls let me know the trading time period stated above is still valid for all the currencies.
Thanks in advance
  • #2,803
  • Apr 7, 2011 6:19am Apr 7, 2011 6:19am
Quoting d4n
Also people, dont concentrate all your efforts on 123's

This thread is called FLAG trading the trend... the flags are probably easier to trade than the 123's and there were a couple of possible winners this morning, one which Ray got and the other we missed.... plus if you master the flags first the 123's are easier to learn.



[i][color=#006400]Read the rules over and over until you fully understand them..... and then read them some more!
This system works as it is and will make you alot of money if you master it. Master it as it is before...
We're in an up trend so I would only be looking for long flag trades. Winners on the short side would have been riskier trades today but I know you'll take them occasionally.
  • #2,804
  • Apr 7, 2011 6:26am Apr 7, 2011 6:26am
Quoting Toothman
We're in an up trend so I would only be looking for long flag trades. Winners on the short side would have been riskier trades today but I know you'll take them occasionally.
yes absolutley... overall trend was up and you should trade according to your risk / style. Counter trades are always more risky but can be profitable with practice.
  • #2,805
  • Apr 7, 2011 6:27am Apr 7, 2011 6:27am
Nice divergence and 123 set up on eu ... But in 20 minites there are news... No trade ..!
" Support/Resistance is your friend .. and TREND your girlfriend .. "
  • #2,806
  • Apr 7, 2011 7:15am Apr 7, 2011 7:15am
Do I see it right ? for the uptrend to end 1.4274 has to be extinguished ?
Attached Image (click to enlarge)
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  • #2,807
  • Apr 7, 2011 7:53am Apr 7, 2011 7:53am
Quoting marian
Do I see it right ? for the uptrend to end 1.4274 has to be extinguished ?
looks good to me
  • #2,808
  • Apr 7, 2011 8:24am Apr 7, 2011 8:24am
Excellent explanations on critical points. When your talking, I'm all ears.

Thank You Dan!
  • #2,809
  • Apr 7, 2011 8:36am Apr 7, 2011 8:36am
Quoting marian
Do I see it right ? for the uptrend to end 1.4274 has to be extinguished ?
If price gets rejected at your line now Marian you should be getting excited

Actually we should all be getting excited
  • #2,810
  • Apr 7, 2011 8:45am Apr 7, 2011 8:45am
Quoting d4n
If price gets rejected at your line now Marian you should be getting excited

Actually we should all be getting excited
Where are you drawing the line? The previous resistance was at 1.4281 before it broke through that in the last couple of days.

Do you think it will actually test that again or just remain slightly below?

Because there is also divergence that has shown up at the 1.4145 area. Although with all that news this morning a bit hard to tell what that did to the charts for the past couple of hours besides chaos.

Thoughts?
  • #2,811
  • Apr 7, 2011 8:48am Apr 7, 2011 8:48am
Quoting d4n
If price gets rejected at your line now Marian you should be getting excited

Actually we should all be getting excited
++++++++++++++++++++++++++++++++

I in agreement here also. The euro daily/weekly charts make a convincing argument for a euro reversal for some period of time to come.

d4n I'm missing your "Tag Line" on the last few posts.

"Read the rules over and over until you fully understand them..... and then read them some more!
This system works as it is and will make you alot of money if you master it. Master it as it is before you try to change or add anything."
  • #2,812
  • Apr 7, 2011 8:52am Apr 7, 2011 8:52am
Quoting Rcwso
Where are you drawing the line? The previous resistance was at 1.4281 before it broke through that in the last couple of days.

Do you think it will actually test that again or just remain slightly below?

Because there is also divergence that has shown up at the 1.4145 area. Although with all that news this morning a bit hard to tell what that did to the charts for the past couple of hours besides chaos.

Thoughts?
++++++++++++++++++++++++++++++++

Chaos is the "Special of the Day" for sure.

It's looking now, like price is trying to suck us in. I may be wrong but I'm not having any.
  • #2,813
  • Apr 7, 2011 8:56am Apr 7, 2011 8:56am
Quoting diamonddbw
++++++++++++++++++++++++++++++++

Chaos is the "Special of the Day" for sure.

It's looking now, like price is trying to suck us in. I may be wrong but I'm not having any.
I am definitely out until I see something more telling. I would like to see a bounce off of the 1.4280 in either direction.

Although, if it continues to shoot through and then gives a PB, that might be time to get in again.

Time will tell. My patience is being tested but so far I haven't hit the "enter" key this morning. I am learning something, I hope.
  • #2,814
  • Apr 7, 2011 8:59am Apr 7, 2011 8:59am
Quoting Rcwso
Where are you drawing the line? The previous resistance was at 1.4281 before it broke through that in the last couple of days.

Do you think it will actually test that again or just remain slightly below?

Because there is also divergence that has shown up at the 1.4145 area. Although with all that news this morning a bit hard to tell what that did to the charts for the past couple of hours besides chaos.

Thoughts?
My personal line is actually at 4280 Marians is 74 but it doesnt have to be exact.... think of it more as a zone rather than a line, anything within 10-20 pips.

just for you D
Read the rules over and over until you fully understand them..... and then read them some more!
This system works as it is and will make you alot of money if you master it. Master it as it is before you try to change or add anything.
  • #2,815
  • Apr 7, 2011 9:05am Apr 7, 2011 9:05am
just for you D
Read the rules over and over until you fully understand them..... and then read them some more!
This system works as it is and will make you alot of money if you master it. Master it as it is before you try to change or add anything.[/quote]
++++++++++++++++++++++++++++++++

Wow! - Thanks Dan. I was about to give my therapist a call because my prescription for Prozac had expired.
  • #2,816
  • Apr 7, 2011 9:12am Apr 7, 2011 9:12am
I'm waiting for price to kiss the sma, then we might have a horse race
  • #2,817
  • Apr 7, 2011 9:21am Apr 7, 2011 9:21am
I'm reviewing Divergence's chart examples of previous easy to spot flag trades, looking at the market as it is now and staying the hell out until i see something I recognise
  • #2,818
  • Apr 7, 2011 9:22am Apr 7, 2011 9:22am
Quoting diamonddbw
I might have screwed this one up.

My entry bar was about 2.5 pips from the 10. My thought is that the set up bar needs to be 2.4 or less. Can I get a verdict on this?
Survet says ???????????? Excellent trade. IMHO
  • #2,819
  • Apr 7, 2011 9:23am Apr 7, 2011 9:23am
D .... that was "survey"... Someday I will learn how to spell and trade at the same time.
  • #2,820
  • Apr 7, 2011 9:25am Apr 7, 2011 9:25am
Quoting bootsyjam
I'm reviewing Divergence's chart examples of previous easy to spot flag trades, looking at the market as it is now and staying the hell out until i see something I recognise
Good call! very messy at the mo.
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