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Flag trading the trend

  • #3,041
  • Apr 11, 2011 7:01am Apr 11, 2011 7:01am
Quoting 1234
The last HL before the last HH was a key level that I had marked on my chart from Friday. Looking to go long if it appeared as support or go short later if it broke. The rest was CCI above, 50 setup above sma The flag was not quite 45 degrees. Overall I thought it was a good shot. Ray
Thanks for the info. I was looking for divergence with a 123 at that point. didn't see a 123 so it kept me out.

looks like a winner for you. good work.
  • #3,042
  • Apr 11, 2011 7:10am Apr 11, 2011 7:10am
Quoting 1234
First trade of the week. Lets see how it goes. Entry slipped a bit. Good trading to all. Ray
Even though a winner, I don't see why you'd go long here with resistance at 442 and no trend established today.
  • #3,043
  • Apr 11, 2011 7:15am Apr 11, 2011 7:15am
This is my second hit this week I am 2 for 2 Nice bounce off support I am starting to think the up trend on EU is running out of steam. Can some one point to an explanation of the 123 Thanks
Quote
Even though a winner, I don't see why you'd go long here with resistance at 442 and no trend established today.
My target was below this my thinking was a bounce at that level could be the start of a down trend. It looked like a good target area If the goal at 1:1 RR was above this level it would not be a good trade. (for me)
I know I have a few extra indis on my chart I am used to looking at them and I like to see how they show the trade set ups with this strat.

http://s1.postimage.org/25srhueys/EUFLAG.jpg
  • #3,044
  • Apr 11, 2011 7:24am Apr 11, 2011 7:24am
Quoting Toothman
Even though a winner, I don't see why you'd go long here with resistance at 442 and no trend established today.
++++++++++++++++++++++++++++++++

The 1.4442 is one of the things that kept me out. The other is the gbp strength.

$Xcnhge gaining strength now. Euro short opportunity possible. Still be careful it seems as though stocks are at the helm for now.
  • #3,045
  • Apr 11, 2011 7:25am Apr 11, 2011 7:25am
Quoting shr1k
This is my second hit this week I am 2 for 2 Nice bounce off support I am starting to think the up trend on EU is running out of steam. Can some one point to an explanation of the 123 Thanks
My target was below this my thinking was a bounce at that level could be the start of a down trend. It looked like a good target area If the goal at 1:1 RR was above this level it would not be a good trade. (for me)
I know I have a few extra indis on my chart I am used to looking at them and I like to see how they show the trade set ups with this strat....
hey sean...did you notice that trix gives almost the same entries as cci ?

bradu
  • #3,046
  • Edited 7:42am Apr 11, 2011 7:27am | Edited 7:42am
Quoting Toothman
Even though a winner, I don't see why you'd go long here with resistance at 442 and no trend established today.
As the last HL before the last HH was not broken I was only going long as the trend is still up as I see it. You are mostly likely right, it is not a great trending day but it makes 7 straight wins so I can now afford a loss or two. Having said that, this will most likely be my first and last trade for the day. Ray

PS I saw 1.4420 area as support and 1.4445 area as resistence and my TP target at the time.
  • #3,047
  • Apr 11, 2011 7:39am Apr 11, 2011 7:39am
Quoting bradu
hey sean...did you notice that trix gives almost the same entries as cci ?

bradu
I was comparing the divergence on the rsi and the trix its about the same. the CCI and trix look very close but I haven't looked to see if the -50 and positive 50 on the CCI correspond to any level on the trix.
  • #3,048
  • Apr 11, 2011 7:39am Apr 11, 2011 7:39am
hey Shr1k, Bradu and everyone. I'm following along best I can for a monday morning. Shorting on demo about 1.4446 with CCI below -50 and price below the MA.

I'm not trading for real today on my usual strat. things are too flat.
  • #3,049
  • Apr 11, 2011 7:39am Apr 11, 2011 7:39am
Got into my first trade. Short eu. Moved stop to BE.
Attached Image (click to enlarge)
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  • #3,050
  • Apr 11, 2011 7:41am Apr 11, 2011 7:41am
Double top and 123 at resistance. Stop loss hit -23 pips
Attached Image (click to enlarge)
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  • #3,051
  • Apr 11, 2011 7:45am Apr 11, 2011 7:45am
Quoting darien95
Double top and 123 at resistance. Stop loss hit -23 pips

Hey Darien, I was watching the same set up but we never got a trigger. You have to wait for the candle to close with the cci -50, then that would be the trigger candle...assuming it came within 2.4 pips from point 2.
  • #3,052
  • Apr 11, 2011 7:46am Apr 11, 2011 7:46am
Quoting diamonddbw
Got into my first trade. Short eu. Moved stop to BE.
++++++++++++++++++++++++++++++++

Break Even on this one.

Perhaps the GU would have been the better trade long. Any body get that one?
  • #3,053
  • Apr 11, 2011 7:49am Apr 11, 2011 7:49am
Quoting tb62
Hey Darien, I was watching the same set up but we never got a trigger. You have to wait for the candle to close with the cci -50, then that would be the trigger candle...assuming it came within 2.4 pips from point 2.


there is light at the end of the tunnel, gold star for you tb
  • #3,054
  • Apr 11, 2011 7:55am Apr 11, 2011 7:55am
Quoting diamonddbw
++++++++++++++++++++++++++++++++

Break Even on this one.

Perhaps the GU would have been the better trade long. Any body get that one?

GU long was a much better setup
  • #3,055
  • Apr 11, 2011 7:56am Apr 11, 2011 7:56am
Thanks d4n lol. I'm going to get this by Ga......I actually took the long eurjpy earlier. It was good for +14. Looked like a "by the rules" div 123.
  • #3,056
  • Apr 11, 2011 8:07am Apr 11, 2011 8:07am
hey diamond what trade was that u got in on
  • #3,057
  • Apr 11, 2011 8:18am Apr 11, 2011 8:18am
Quoting Divergence
hey diamond what trade was that u got in on
++++++++++++++++++++++++++++++++

Post just above here. EU short @ 1.4442
  • #3,058
  • Apr 11, 2011 8:20am Apr 11, 2011 8:20am
why?
  • #3,059
  • Apr 11, 2011 8:21am Apr 11, 2011 8:21am
Quoting diamonddbw
Got into my first trade. Short eu. Moved stop to BE.
I see the divergence but no 123??
  • #3,060
  • Apr 11, 2011 8:23am Apr 11, 2011 8:23am
nor was it at a s and r level to trade off of
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