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Flag trading the trend

  • #3,101
  • Apr 12, 2011 4:13am Apr 12, 2011 4:13am
Quoting billm
on my chart rangefinder/cci was below 50 on that bar so no entry for me
It showed 514107 and I use the same indicator that d4n uses. I did test it against the indicator that Div uses a long while ago and it seemed to give the same results plus it tells me if it is within the 2.4 pips of the sma with out me doing the sums by the colour of the bar. I hope it is still working ok. Ray
  • #3,102
  • Apr 12, 2011 4:20am Apr 12, 2011 4:20am
Quoting diamonddbw
++++++++++++++++++++++++++++++++

Good timing. EU hit 1.4380 earlier. For me lower than that would mark a change in trend. What's your view?
Yes for me if it stays below the last HL which I marked as the 1.4416 area then it would be in a down trend on the 5 min chart. I like Div's way of working out the trend with HH HL LH LL etc Ray
  • #3,103
  • Apr 12, 2011 4:25am Apr 12, 2011 4:25am
Quoting 1234
It showed 514107 and I use the same indicator that d4n uses. I did test it against the indicator that Div uses a long while ago and it seemed to give the same results plus it tells me if it is within the 2.4 pips of the sma with out me doing the sums by the colour of the bar. I hope it is still working ok. Ray
Hi , can you post a copy of the indicator, it sounds good
  • #3,104
  • Apr 12, 2011 4:27am Apr 12, 2011 4:27am
Quoting d4n
good trade that Ray, nicely off the 20.

On the setup bar though my cci was only at 43 so i didnt get a signal, just goes to show how brokers can vary.
Thanks, yes you are right it is most likely the feed from the brokers. I use ibfx demo for the chart work and my live account is with oanda (the old fx trade). It is a bit messy going from one to the other but it more or less works at the moment. Ray
  • #3,105
  • Apr 12, 2011 4:37am Apr 12, 2011 4:37am
Quoting billm
Hi , can you post a copy of the indicator, it sounds good
I am not sure how to do that, but just go to Post 2677 Page 179 April 5 and it is there. Ray
  • #3,106
  • Apr 12, 2011 4:56am Apr 12, 2011 4:56am
a nice second chance there for those that missed Ray's entry and gu could get interesting soon.
  • #3,107
  • Apr 12, 2011 6:44am Apr 12, 2011 6:44am
Hi to all,
EUR/USD which I took went against me. I don't know what went wrong. Please comment. Thanks in advance.
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  • #3,108
  • Apr 12, 2011 7:04am Apr 12, 2011 7:04am
Anyone bite at the GU either long or short? Just trying to get sentiment for the break/test of the 1.6260 area. I was thinking short but that wouldn't have worked out so well.

Thoughts?
  • #3,109
  • Apr 12, 2011 7:15am Apr 12, 2011 7:15am
Quoting Rcwso
Anyone bite at the GU either long or short? Just trying to get sentiment for the break/test of the 1.6260 area. I was thinking short but that wouldn't have worked out so well.

Thoughts?
was looking for a short but no good setup.
  • #3,110
  • Apr 12, 2011 7:15am Apr 12, 2011 7:15am
[quote=Rcwso;4538500]Anyone bite at the GU either long or short? Just trying to get sentiment for the break/test of the 1.6260 area. I was thinking short but that wouldn't have worked out so well.

May be short. There is the resistance of 200MA
  • #3,111
  • Apr 12, 2011 7:16am Apr 12, 2011 7:16am
Yes, I went short GU and got nailed.

Here's what I saw:
Support broke, became resistance as it came up and tested it, RSI Divergence at that level, then a 1-2-3 and took it short as the setup bar was popped. I was stopped at the yellow line.
Attached Image (click to enlarge)
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  • #3,112
  • Apr 12, 2011 7:17am Apr 12, 2011 7:17am
Quoting d4n
was looking for a short but no good setup.
What about the 1120 GMT bar? Why would that not have been a good place to short?
  • #3,113
  • Apr 12, 2011 7:17am Apr 12, 2011 7:17am
did I do something wrong on this one?
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  • #3,114
  • Apr 12, 2011 7:25am Apr 12, 2011 7:25am
Quoting vince
did I do something wrong on this one?
I don't show divergence there. Also, I don't show it truly testing the next level.

What is everyone's settings on the RSI?
Period = 8
Applied to Close or ?
  • #3,115
  • Apr 12, 2011 7:26am Apr 12, 2011 7:26am
Quoting billm
Yes, I went short GU and got nailed.

Here's what I saw:
Support broke, became resistance as it came up and tested it, RSI Divergence at that level, then a 1-2-3 and took it short as the setup bar was popped. I was stopped at the yellow line.
i can see what you did there Bill but it was a very ugly looking trade and a little late in the session.
the divergence wasnt very clear and the 123 was messy to say the least, after your point 2 price went sideways for 45 mins... so technically correct but just a very ugly looking one which i would stay away from.
  • #3,116
  • Apr 12, 2011 7:28am Apr 12, 2011 7:28am
Quoting Rcwso
What about the 1120 GMT bar? Why would that not have been a good place to short?
11.20 on my chart is going up there was a setup bar at 11.35 but never triggered.
  • #3,117
  • Apr 12, 2011 7:28am Apr 12, 2011 7:28am
too close to news, could have been the culprit
  • #3,118
  • Apr 12, 2011 7:29am Apr 12, 2011 7:29am
Quoting Rcwso
I don't show divergence there. Also, I don't show it truly testing the next level.

What is everyone's settings on the RSI?
Period = 8
Applied to Close or ?
it was within 2 pips from point 2
and yes my rsi is 8 applied to close
  • #3,119
  • Apr 12, 2011 7:32am Apr 12, 2011 7:32am
Second trade for the day. Good trading to all. Ray
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  • #3,120
  • Apr 12, 2011 7:35am Apr 12, 2011 7:35am
Hi flaggers

took this trade just a couple of minutes ago

arrow is trigger
white line is exit

FXWest

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