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Flag trading the trend

  • #3,321
  • Apr 14, 2011 12:34am Apr 14, 2011 12:34am
OK, I'm sticking my neck out here with my view of the current trend on:

EU, GU, & EY

EU - Still up and no real signs of coming down.

GU - For now the trend remains long. Critical figure here is 1.6218 although if price goes, and stays below 1.6247, we should start thinking about shorts.

EY - looks like it wants to go down.
Critical Figure to stay Below: 121.20. Price making LH & LL. Top was April 11th.

My opinion, (of which I give out freely and is something you should carefully write down on a piece of paper, fold paper so it will readily fit neatly the nearest recycle bin) is that market is broadly consolidating and will then resume movement in one of two directions.

2¢
  • #3,322
  • Apr 14, 2011 12:56am Apr 14, 2011 12:56am
Hi Div,

Watched your video. S/R line advice has really helped me be more selective which trades to take.

Feels good when there is a setup and your stop on the other side of S/R

Once again - THANKS for the great thread!
  • #3,323
  • Edited 12:59am Apr 14, 2011 12:58am | Edited 12:59am
Quoting tritom
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...
++++++++++++++++++++++++++++++++

Time of day. Big deal here. In case you didn't find this info (over 200 pages now) trade only market openings.
Asian: 1st - 90 min
London: First 2 hours (my opinion here)
NY: 1st 3+ hours

Stop hunting will take it's toll. There is a bounty on those of us that put our stops under the closest swing. But that's ok, much of the time, if price goes there, it will continue against us. But we don't remember those times as well as the ones that knock us back by only 1 pip or so.

OK Tom, this is the BIG secret:
• Play ONLY by the rules.
• Trade only during market openings.
and
• Wait for the PERFECT set up.
• Pass on all other trades at all OFF times.
• Read the thread.
• Watch the videos (For this you will need a Vimeo FREE account www.vimeo.com • pm me with your vimeo user name or pw and I will add you to the contact list. Currently 7 hours of Divergence [Mr. Hollywood] explaining what his method is all about.)

and read these (compliments of Rcwso):
Attached File(s)
File Type: pdf Flag the Trend Trading.pdf   219 KB | 862 downloads
File Type: pdf Flag Trend Flow Chart Rules.pdf   49 KB | 912 downloads
  • #3,324
  • Edited 3:36am Apr 14, 2011 1:04am | Edited 3:36am
yeh stop hunters will get ya.
oh and dont trade against the trend , i keep telling myself that , too bad i dont listen to myself lol. I'm still looking to go short against this eu runup at least retracement back to a fib level 4477, 4464 maybe. I'm a glutton for punishment what can i say


hey Diamond, if i pm you my username can you add me to that contact list, Hollywood is entertaining as hell and a fountain of knowledge to boot
  • #3,325
  • Apr 14, 2011 1:21am Apr 14, 2011 1:21am
Quoting diamonddbw
++++++++++++++++++++++++++++++++

Time of day. Big deal here. In case you didn't find this info (over 200 pages now) trade only market openings.
Asian: 1st - 90 min
London: First 2 hours (my opinion here)
NY: 1st 3+ hours

Stop hunting will take it's toll. There is a bounty on those of us that put our stops under the closest swing. But that's ok, much of the time, if price goes there, it will continue against us. But we don't remember those times as well as the ones that knock us back by only 1 pip or so.

OK Tom, this is the BIG secret:
• Play...
Hey Diamond...PM'd you...This is the trade I mentioned

Attached Image (click to enlarge)
Click to Enlarge Name: Forex 4.13 EU.JPG Size: 65 KB
  • #3,326
  • Edited 2:32am Apr 14, 2011 1:27am | Edited 2:32am
Quoting diamonddbw
Time of day. Big deal here.
Thanks! Rules are no problem, just recognizing that time of day actually IS one of them, no matter how promising a setup may appear. There will always be enough trades in the prime time. Sent you PM with vimeo details, many thanks for your efforts :-) Cheers T.
:-anything
  • #3,327
  • Apr 14, 2011 1:55am Apr 14, 2011 1:55am
Hi, can anyone confirm the chart below. Breaking the red line would make it a trend cahnge to short, based on divergence? I know it's just a 1min chart, just to confirm if I understand the basics....
Attached Image (click to enlarge)
Click to Enlarge Name: aud 1min trend change.gif Size: 15 KB
  • #3,328
  • Apr 14, 2011 2:24am Apr 14, 2011 2:24am
Hey PBB,

In an earlier post, Divergence said that a Higher Low that was charted during a divergence was not considered for a trend change.

Just an observation,
Jon
  • #3,329
  • Apr 14, 2011 3:07am Apr 14, 2011 3:07am
Quoting pbb
Hi, can anyone confirm the chart below. Breaking the red line would make it a trend cahnge to short, based on divergence? I know it's just a 1min chart, just to confirm if I understand the basics....
++++++++++++++++++++++++++++++++

No PBB. Zooooom Waaaaay out and get the big picture. Maybe even look at 15 m.

Here's a 5m aussie. I would not really consider thinking trend change (for our purposes) until prices goes, and stays, below thick Red line.

The area right above the red line is maybe to busy to know which way to go.

Hope that helps.
Darryl
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 24.jpg Size: 185 KB
  • #3,330
  • Apr 14, 2011 3:12am Apr 14, 2011 3:12am
not so pretty 123 on EU......

to take or not to take
  • #3,331
  • Apr 14, 2011 3:21am Apr 14, 2011 3:21am
couldnt resist it
  • #3,332
  • Apr 14, 2011 3:25am Apr 14, 2011 3:25am
Quoting diamonddbw
++++++++++++++++++++++++++++++++

No PBB. Zooooom Waaaaay out and get the big picture. Maybe even look at 15 m.

Here's a 5m aussie. I would not really consider thinking trend change (for our purposes) until prices goes, and stays, below thick Red line.

The area right above the red line is maybe to busy to know which way to go.

Hope that helps.
Darryl
OK thanks, was just looking at the 1 min chart and saw it happening, didn't look at the higher TF. Have spend yesterday evening reading the first 20 and last 20 pages, think that I will work my butt through the other 180 as well.

Nice thread, haven't looked at it before, what a shame...
  • #3,333
  • Apr 14, 2011 3:35am Apr 14, 2011 3:35am
Quoting d4n
couldnt resist it
Did You move to BE?
  • #3,334
  • Apr 14, 2011 3:37am Apr 14, 2011 3:37am
Quoting lacika
Did You move to BE?
no... cause it wasnt the best looking trade took half off at +10 letting the rest run as normal. will move to BE at 69
  • #3,335
  • Apr 14, 2011 3:46am Apr 14, 2011 3:46am
Quoting d4n
no... cause it wasnt the best looking trade took half off at +10 letting the rest run as normal. will move to BE at 69
++++++++++++++++++++++++++++++++

I was thinking about taking some at +10, but just went to BE.

Now looking at 123 return to trend trade. If it doesn't set up, I'm done til NY.
  • #3,336
  • Apr 14, 2011 3:53am Apr 14, 2011 3:53am
Quoting diamonddbw
++++++++++++++++++++++++++++++++

I was thinking about taking some at +10, but just went to BE.

Now looking at 123 return to trend trade. If it doesn't set up, I'm done til NY.
bounce of 4472 and up to 4512?

or bounce off 4459 ..hell i give up today lol
  • #3,337
  • Apr 14, 2011 3:58am Apr 14, 2011 3:58am
Quoting gimmie3pips
bounce of 4472 and up to 4512?
thats definitely not going to happen cause i havnt hit my tp yet
  • #3,338
  • Apr 14, 2011 4:03am Apr 14, 2011 4:03am
it probably wont, i've been on the wrong side of most of my trades today, i go long they tank, go short they rally..i cant win lol
  • #3,339
  • Apr 14, 2011 4:04am Apr 14, 2011 4:04am
Quoting d4n
couldnt resist it
target reached... i love it when everything runs smoothly.
  • #3,340
  • Apr 14, 2011 4:06am Apr 14, 2011 4:06am
very nice, now i'll put in my buy order for the ride down...errr up i mean
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