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Flag trading the trend

  • #2,901
  • Apr 8, 2011 8:37am Apr 8, 2011 8:37am
Quoting Dreuf
here is my vision of last trade:
- trendline with 3 times HL
- hidden div (I know it is not a part of Mr Div strategy but anyway I use it to confirm the entry )

additionnally I am not sure that the div you spotted was really significative. On my side it was in the traffic. I prefer looking for more clear div and hidden div and zoom out a little bit. So I did not spot any div for this trade. Please correct me if required.

Regards
The divergence I was talking about was from the 3:45 GMT and 7:45 GMT candles. That was more significant in my opinion.

I agree about the bouncing off the trend line etc.

This just wasn't a trade I was willing to jump into based on what I was seeing. I don't think there is any correction to be made to your thoughts and analysis. It was just not a good looking one from my standpoint. I am looking for the more juicy trades. Like the one that may be forming here soon with the uptrend continuation.

Time will tell.

Good trade and good analysis.
  • #2,902
  • Apr 8, 2011 8:45am Apr 8, 2011 8:45am
Quoting Rcwso
The divergence I was talking about was from the 3:45 GMT and 7:45 GMT candles....
++++++++++++++++++++++++++++++++

Don't know about uptrend continuation. Stocks and commodities are off. I'm seeing potential 123 reversal
  • #2,903
  • Apr 8, 2011 9:05am Apr 8, 2011 9:05am
** The final reason here is solely my interpretation. I like W's & M's. When price forms a W or an M, I have seen price go in the opposite direction quite often.


Agreed on that one Diamond, Ws and Ms, with some divergence on the right shoulder/Pivot Point, is one of the best chart formations I know.
  • #2,904
  • Edited 4:48pm Apr 8, 2011 9:15am | Edited 4:48pm
hope everyone got there grey poupon at Target though i trade e u excusively i didn't like the candles to sticklike i took the g u div 123 setup
  • #2,905
  • Apr 8, 2011 9:21am Apr 8, 2011 9:21am
Quoting Divergence
hope everyone got there grey coupon at Target thhugh i trade e u excusively i didn't like the candles to sticking i to took the g u did small 123
++++++++++++++++++++++++++++++++

GU, tsk tsk, I'm appalled! <-- me laughing my fanny off (lmfo)
  • #2,906
  • Apr 8, 2011 9:26am Apr 8, 2011 9:26am
can we get a chart of this historic occassion
  • #2,907
  • Apr 8, 2011 9:27am Apr 8, 2011 9:27am
Gold frame and personal signature please
  • #2,908
  • Apr 8, 2011 9:36am Apr 8, 2011 9:36am
Hey Div,

If the targets for this methodology range between 9 pips and 26 pips, why not just target 9 pips (and correspondingly 3%) on all setups? What am I missing? I am sure it is something very basic!

Thanks,
Jon
  • #2,909
  • Apr 8, 2011 9:47am Apr 8, 2011 9:47am
some trades need more than a 9 pip cushion to work out, look thru the charts div has posted, it should start to make sense
  • #2,910
  • Apr 8, 2011 9:49am Apr 8, 2011 9:49am
Anyone take this one. Divdrgence 123
Attached Image (click to enlarge)
Click to Enlarge Name: d.gif Size: 11 KB
  • #2,911
  • Apr 8, 2011 9:49am Apr 8, 2011 9:49am
Quoting jmf0805
Hey Div,

If the targets for this methodology range between 9 pips and 26 pips, why not just target 9 pips (and correspondingly 3%) on all setups? What am I missing? I am sure it is something very basic!

Thanks,
Jon
++++++++++++++++++++++++++++++++

The main thing I can think of is You would still need to have an adequate stop in place. That would throw your ratio all out of whack.
  • #2,912
  • Edited 4:47pm Apr 8, 2011 9:51am | Edited 4:47pm
stops need to be at last pullback
  • #2,913
  • Apr 8, 2011 12:18pm Apr 8, 2011 12:18pm
It's awfully quiet this am. Did anyone get out of this with any hair left?
  • #2,914
  • Apr 8, 2011 12:22pm Apr 8, 2011 12:22pm
Quoting Toothman
Anyone take this one. Divdrgence 123
Hi Toothman,

I think you entry is not correct, at least if you follow Div's rules. You should have waited for the setup bar passing the 10MA and then enter 1 pip below it.
I saw this setup too...followed the rules...but entry was never triggered. Luckily.

PS:
My results for today: 4 trades, 1 BE (GU), +1 (AU), +14 (GU), +8 (GU) = +23 pips :-)


Cheers,
Olarion
  • #2,915
  • Apr 8, 2011 12:51pm Apr 8, 2011 12:51pm
d4n,
That post is so very true & the sooner everyone understands that the better their trading will be. The 1,2,3's are important following the rules, but they are not the whole pie.

Now that we are near the 1.4450 level we very well could see some retrace before moving north again, but I could be wrong.

A great weekend to everyone.
  • #2,916
  • Apr 8, 2011 1:13pm Apr 8, 2011 1:13pm
Thank You Div, Dan and all of the others that have contributed.

After a month of working on the Flag, a 3.45% gain this week. That includes 3 Stupid trades. Shooting for 5% next week. (But still reserve the "Right to Remain Stupid")

Good Hunting & Keep the cards and letters coming,
D
  • #2,917
  • Apr 8, 2011 3:31pm Apr 8, 2011 3:31pm
Quoting Divergence
stops need to be at last dip
dip?
  • #2,918
  • Apr 8, 2011 3:45pm Apr 8, 2011 3:45pm
Quoting Tedge UK
dip?
dip = swing

Cheers,
Olarion
  • #2,919
  • Apr 8, 2011 3:48pm Apr 8, 2011 3:48pm
Quoting Olarion1975
dip = swing

Cheers,
Olarion
thanks
  • #2,920
  • Apr 8, 2011 4:49pm Apr 8, 2011 4:49pm
here is the chart of this famous gbpusd trade
Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 175 KB
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