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Flag trading the trend

  • #3,121
  • Edited 7:50am Apr 12, 2011 7:35am | Edited 7:50am
Quoting d4n
11.20 on my chart is going up there was a setup bar at 11.35 but never triggered.
Here is my chart with the 1120 GMT GU bar. Is this what your's looks like? Your chart that is.
Attached Image (click to enlarge)
Click to Enlarge Name: 1120 Bar GU.JPG Size: 64 KB
  • #3,122
  • Apr 12, 2011 7:40am Apr 12, 2011 7:40am
Quoting 1234
Second trade for the day. Good trading to all. Ray
yup I got that too Ray, makes up a bit for that stoopid GU short I took earlier
  • #3,123
  • Apr 12, 2011 7:41am Apr 12, 2011 7:41am
Quoting Rcwso
Here is my chart with the 1120 GMT GU bar. Is this what your's looks like? You chart that is.
ahhh thats 12.20
see my reply to Bill.
  • #3,124
  • Apr 12, 2011 7:41am Apr 12, 2011 7:41am
Quoting vince
it was within 2 pips from point 2
and yes my rsi is 8 applied to close
I don't disagree with the 123 drawing or that it is within 2 pips etc. Here is what I saw: No divergence on my chart with the same settings. My RSI levels for your two candles were 71.XXX and 72.XXX. That was going from left to right up the trend. Also, matter of personal opinion here, I did not see it truly testing an important level and bouncing off of it. I know it touches the 1.4480 area once but not enough for me. Overall trend is up and I was not looking to short at that time for a counter trend trade. Not enough info for me to take it. Besides, no divergence on my chart. So, I didn't even consider it.

Interesting that you are showing divergence there and I am not. Must be differences in brokers etc.
  • #3,125
  • Apr 12, 2011 7:45am Apr 12, 2011 7:45am
Quoting d4n
ahhh thats 12.20
see my reply to Bill.
Got it. Ugly looking = stay away. I think that applies to many things in life.
  • #3,126
  • Apr 12, 2011 7:49am Apr 12, 2011 7:49am
Quoting billm
yup I got that too Ray, makes up a bit for that stoopid GU short I took earlier
Good one. Ray
With two wins we can relax and take the rest of the day off now!!
  • #3,127
  • Apr 12, 2011 7:51am Apr 12, 2011 7:51am
Quoting Rcwso
I don't disagree with the 123 drawing or that it is within 2 pips etc....
yes, that's interesting...thanks Rcwso.
Div or d4n do you guys have divergence there? can you check it out for me please
  • #3,128
  • Apr 12, 2011 8:04am Apr 12, 2011 8:04am
Quoting Rcwso
Got it. Ugly looking = stay away. I think that applies to many things in life.
very true! Here is a gorgeous looking div 123 for everyone. This is the Angelina Jolie of the 123 world.
Print it out and stick it on your wall and the next time you see a 123 ask yourself... does it look as good as Angelina.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 24 KB
  • #3,129
  • Apr 12, 2011 8:08am Apr 12, 2011 8:08am
Quoting godwin2002
Hi to all,
EUR/USD which I took went against me. I don't know what went wrong. Please comment. Thanks in advance.
++++++++++++++++++++++++++++++++

Entry (Trigger Bar) Never exceeded Set Up Bar by one pip.
  • #3,130
  • Apr 12, 2011 8:12am Apr 12, 2011 8:12am
Quoting d4n
very true! Here is a gorgeous looking div 123 for everyone. This is the Angelina Jolie of the 123 world.
Print it out and stick it on your wall and the next time you see a 123 ask yourself... does it look as good as Angelina.
You certainly have a way with words!! LOL Ray
  • #3,131
  • Apr 12, 2011 8:27am Apr 12, 2011 8:27am
Quoting vince
yes, that's interesting...thanks Rcwso.
Div or d4n do you guys have divergence there? can you check it out for me please
there was vince yes. but there was a peak in between.

why did you not take the flag before it?
  • #3,132
  • Apr 12, 2011 8:47am Apr 12, 2011 8:47am
Are ypu guys considering a div. 123 if it sets up here. No resistance though.
  • #3,133
  • Apr 12, 2011 8:49am Apr 12, 2011 8:49am
I am looking long on the GU. bounce on the new support/previous resistance from yesterday. Or would this be going back to the well too many times?

Thoughts?
Attached Image (click to enlarge)
Click to Enlarge Name: GU 12 April.JPG Size: 105 KB
  • #3,134
  • Apr 12, 2011 8:50am Apr 12, 2011 8:50am
My Take, On e/u........... I see the end of a 5 wave pattern, neg div. and a 123 forming...... Anybody agree or diagree?
  • #3,135
  • Apr 12, 2011 8:53am Apr 12, 2011 8:53am
Quoting Joel
My Take, On e/u........... I see the end of a 5 wave pattern, neg div. and a 123 forming...... Anybody agree or diagree?
I would like to see it retrace and bounce off of the 1.4480 area again. If bounce and up, long I am. If break through and retest making it resistance, short I am.

Just my thoughts. Still learning.
  • #3,136
  • Apr 12, 2011 8:54am Apr 12, 2011 8:54am
Quoting Rcwso
I am looking long on the GU. bounce on the new support/previous resistance from yesterday. Or would this be going back to the well too many times?

Thoughts?
good analysis.... setup would have looked very good apart from the fact we may be visiting the well too many times. Down to personal preference.
  • #3,137
  • Apr 12, 2011 8:55am Apr 12, 2011 8:55am
Quoting Rcwso
I am looking long on the GU. bounce on the new support/previous resistance from yesterday. Or would this be going back to the well too many times?

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

Any reason not to take the short? Look at 123 w/div
  • #3,138
  • Apr 12, 2011 8:56am Apr 12, 2011 8:56am
Quoting diamonddbw
++++++++++++++++++++++++++++++++

Any reason not to take the short? Look at 123 w/div
Does it look as good as Angelina?
  • #3,139
  • Apr 12, 2011 9:02am Apr 12, 2011 9:02am
Quoting d4n
good analysis.... setup would have looked very good apart from the fact we may be visiting the well too many times. Down to personal preference.
That is what I was thinking. Did not take anyway and I would have probably stayed out.

diamond: I did see some divergence there but the 123 didn't look good t me and I was more focused on the bounce after it went through the previous resistance. The 123's that I am trying to find are ones that bounce off of the support/resistance versus run through them and then form. Just a personal preference at this time. If you took it, looks like it would have worked out. Just not my time.

Thoughts?
  • #3,140
  • Apr 12, 2011 9:03am Apr 12, 2011 9:03am
Quoting d4n
Does it look as good as Angelina?
++++++++++++++++++++++++++++++++

Yeah, Angelina after a trip to the cosmetic surgeon... lol
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