Flag trading the trend | Page 166 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Are you a trend trader or a counter-trend trader? 29 replies

Divergence Flag / Trend Continuation setup 0 replies

1 Min THV Flag Trading 933 replies

Is Grid Trading (combined trend following and counter trend) Profitable? 3 replies

3 CCIs 'Flag' Trading 55 replies

Attachments: Flag trading the trend
Exit Attachments

Flag trading the trend

  • #3,301
  • Apr 13, 2011 1:12pm Apr 13, 2011 1:12pm
Forsooth, Pray tell me, do I hear lovely maidens frolicing in yonder grove!!!!!
Quoting diamonddbw
++++++++++++++++++++++++++++++++

It took me a while but I did figure that out.

So now to the important stuff, how did you like my Poem?
  • #3,302
  • Apr 13, 2011 2:58pm Apr 13, 2011 2:58pm
Quoting Joel
Forsooth, Pray tell me, do I hear lovely maidens frolicing in yonder grove!!!!!
++++++++++++++++++++++++++++++++

Perhaps me naive. And that they frolic freely and are included with each new car purchase, is a given. Thank thee Madison Avenue.
  • #3,303
  • Apr 13, 2011 5:46pm Apr 13, 2011 5:46pm
Quoting tbjohnton
i know this was after the finish bell, but would this be a valid short to take even though we are in an uptrend. once it broke thru the 4480 level it tested it 2x and then gave a setup bar, are these valid counter-trend trades or do we need div 123, to go counter?
Hi Tb,

The wave you took was actually a corrective wave down. Take a look at my chart. The double top is divergent. We have 3 waves down from the double top. At this point you don't know what this wave is. So you need to wait and see what happens. Next we get a 3 wave push to test the top and it fails. This is your first clue that we may get a 5 wave correction. So now we have what we call points A and points B. The B wave is typically followed by a C wave. Once price went below point A came up and bounced off resistance this was a good sign we were going lower. At this point you just need to wait for the pullback and set up bar, which it looks like you did.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 5m abc correction t1 14.4.11.jpg Size: 149 KB
  • #3,304
  • Apr 13, 2011 6:13pm Apr 13, 2011 6:13pm
Very funny thank you.........
Quoting diamonddbw
++++++++++++++++++++++++++++++++

Perhaps me naive. And that they frolic freely and are included with each new car purchase, is a given. Thank thee Madison Avenue.
  • #3,305
  • Apr 13, 2011 6:15pm Apr 13, 2011 6:15pm
Soooooooooooooooooooooo, is trend up or down?
  • #3,306
  • Apr 13, 2011 6:37pm Apr 13, 2011 6:37pm
Quoting Joel
Soooooooooooooooooooooo, is trend up or down?
My take just wait a little bit......
http://i52.tinypic.com/15sao1z.jpg
  • #3,307
  • Apr 13, 2011 7:05pm Apr 13, 2011 7:05pm
Bearish div G/U is setting up. M5 chart.
  • #3,308
  • Apr 13, 2011 7:19pm Apr 13, 2011 7:19pm
The technical term for the current market condition is "Hiccups".
  • #3,309
  • Apr 13, 2011 7:20pm Apr 13, 2011 7:20pm
to big a stop for my blood i am folding up tents and moving up river
  • #3,310
  • Apr 13, 2011 7:29pm Apr 13, 2011 7:29pm
Hold there.............. art thou traveling towards yonder glen where fair maidens frolic . Me thinks I will journey with thee for a time. We will supp together and count the victories of the day.
Quoting Divergence
to big a stop for my blood i am folding up tents and moving up river
  • #3,311
  • Apr 13, 2011 7:32pm Apr 13, 2011 7:32pm
you been hanging out with diamond from california again johnny bruscos anyone?
  • #3,312
  • Apr 13, 2011 7:37pm Apr 13, 2011 7:37pm
Quoting Divergence
you been hanging out with diamond from california again johnny bruscos anyone?
Here here
  • #3,313
  • Apr 13, 2011 7:41pm Apr 13, 2011 7:41pm
hey tb i sent you pm
  • #3,314
  • Apr 13, 2011 9:16pm Apr 13, 2011 9:16pm
do any of you hang out in the IRC channel ? http://chat.efnet.org:9090/ or is this just the wrong time of night?

also when do you do the live video ?
  • #3,315
  • Apr 13, 2011 9:39pm Apr 13, 2011 9:39pm
4380 anyone? i made most of my loss back earlier shorting from 4443 to 4420


Man Big D you're killing me with the NY pizza talk , tomorrow I'll be driving all over Florida looking for an authentic NY italian owned pizza joint, if I didnt hate dealing with TSA i could hop a flight to NY for lunch
  • #3,316
  • Apr 13, 2011 10:01pm Apr 13, 2011 10:01pm
AUD short trade in Asian session. We have a pullback and trigger bar. Price fell short of the TP but still managed +10 pips. I think I have the SUB and entry correct.
Attached Image (click to enlarge)
Click to Enlarge Name: aud 5m short asian t2 14.4.11.jpg Size: 135 KB
  • #3,317
  • Apr 13, 2011 10:14pm Apr 13, 2011 10:14pm
Ok guys...

Here is the AUD 5 M chart shrunk down so you can see a bigger picture. We're in a nice upward slopping channel. If we get up into the blue area and we have a failure and price goes down and breaks the low of the channel it looks like we have a possible change in trend. If price goes up and break the channel high we may resume the up trend.
Attached Image (click to enlarge)
Click to Enlarge Name: aud 5m resistance level t3 14.4.11.jpg Size: 167 KB
  • #3,318
  • Apr 13, 2011 11:56pm Apr 13, 2011 11:56pm
Here is the EU divergence from the asian session. Followed by a 123 entry. Were you paying attention.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 5m 123 t4 14.4.11.jpg Size: 145 KB
  • #3,319
  • Apr 14, 2011 12:16am Apr 14, 2011 12:16am
Quoting ozziedave
Here is the EU divergence from the asian session. Followed by a 123 entry. Were you paying attention.
++++++++++++++++++++++++++++++++

Did you take this one Dave? If so where was your entry?
  • #3,320
  • Apr 14, 2011 12:34am Apr 14, 2011 12:34am
Hi everybody and many thanks to Div and to all contributing to this thread.. I'm getting used to this almost perfect method. I'm still struggling with the trend / HighLow qualification but it's getting better day after day.

I don't know if I was wrong this time, I took a long flag trade (EU) after 0325 gmt setup bar and was stopped out by the downspike 0405 gmt. The stop was taken out by less than a pip (0.5p exactly); yes I know the hour was not A++ for trading but the preceding upmove had a lot of momentum, 5 waves down complete, div+123 and previous LH was taken out by the very setup bar..

there were more entries to this move before (div+123 CT setup) then numerous flags on the way up..I came too late, but it was not the first time I have been stopped out by less than one pip and after that price went straight to target, shouldn't the stop be 1 pip below/above the flag low/high?

any comments appreciated, many thx, sorry for not posting a chart but I don't have any drawing tools at hand to comment it atm.
:-anything
2 traders viewing now