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Flag trading the trend

  • #3,381
  • Apr 14, 2011 10:03am Apr 14, 2011 10:03am
Quoting Sarythsaya
I appreciate the limitations of wave counts on 5 min charts - and although i have in the past avoided Elliot like the plague - i have seen the 5 wave div occur so many times since trading this thread that it appears worthy of further study.
Agreed, Look for divergence after a big move and then watch for 123 set ups. I was just commenting on not getting hung up on the elliott wave counts to the point you don't take those trades.
  • #3,382
  • Apr 14, 2011 10:08am Apr 14, 2011 10:08am
any thoughts on another flag trade if it sets up? would we be taking too many bites at the apple?
  • #3,383
  • Apr 14, 2011 10:24am Apr 14, 2011 10:24am
Quoting Rcwso
Good work. Interesting for me is the fact that the GU trade I was watching my my CCI on that same bar was at 22 and not above 50 for your Set-up bar. I am using the same exact indicator as you but it was no where close to your level. Then the next bar did not meet set-up bar criteria. I stayed out. Hard to understand why some brokers are that much different.
they cant be that different surely? my setup bar was 12.35gmt cci was at 121.3!! entry at 6334
  • #3,384
  • Apr 14, 2011 10:24am Apr 14, 2011 10:24am
Quoting 1234
If I had known that you also took the trade I would not have been worried at the end. LOL. BTW look at price going up now! I am also now ready to do battle tomorrow. Ray
we're on a roll Ray, long may it continue!
  • #3,385
  • Apr 14, 2011 10:25am Apr 14, 2011 10:25am
Quoting specracer
any thoughts on another flag trade if it sets up? would we be taking too many bites at the apple?
It's a little late in the session. If you made some profit, close shop and call it a day. Don't be greedy.
  • #3,386
  • Apr 14, 2011 10:25am Apr 14, 2011 10:25am
Quoting Joel
Are you saying you entered long at the opening of the 9:40 am candle 1.4415
setup candle was 1.40 gmt entry at 4433
  • #3,387
  • Apr 14, 2011 10:29am Apr 14, 2011 10:29am
Quoting d4n
they cant be that different surely? my setup bar was 12.35gmt cci was at 121.3!! entry at 6334
First, I was looking at the 1230 GMT so that was my issues.

Regardless, my 1235 GMT candle was not within 2.4 pips of the SMA. it was 2.7. Did not give me a valid entry based on my chart.

Good work again.

debating whether to watch the action for another hour or so.
  • #3,388
  • Apr 14, 2011 10:30am Apr 14, 2011 10:30am
Quoting Rcwso
No problem. I don't want to speak for everyone or hijack the thread, but this thread has done a good job of keeping pure to Divergence's system without throwing in too many variables etc. This is one of the first threads I have seen do that. Most turn into someone modifying the original system to the point no one knows what is going on anymore. That is the only reason why I mentioned that. It was not to be mean or turn you away. No harm or malice intended.

Happy Days.
I would have to agree with this statement very much. It is one of the very few threads that has stayed on point, which I think is "critical to anyone trying to learn this method” ... me include.

As I continue to make my screw ups and errors >> as Diamond can point out... and my last post shows it is refreshing to see the thread is remaining true to the method.

My statements are not met to harm, insult, or take away from someone else's way of trading, especially is it works for them...But staying on point with Div’s method in it pure form is highly beneficial to all trying to learn this method. Distraction tends to cause confusion, especially when trading. We have all been there trying all kinds of things. Jumping from one to the other, this can creates one’s downfall... I know it has done that to me.

Div has stated many times throughout this thread to stay focus, follow the rules, don’t deviate... make money... I have not done the best job of that myself but this constant push by Div and others to stay focused on the method, really does makes a difference.

Again... no disrespect intended...just my humble opinion
  • #3,389
  • Apr 14, 2011 10:31am Apr 14, 2011 10:31am
thanks ND
  • #3,390
  • Apr 14, 2011 10:33am Apr 14, 2011 10:33am
Quoting Divergence
wave 5 done and div
I take it you didn't trade with divergence breaking down.
  • #3,391
  • Apr 14, 2011 10:34am Apr 14, 2011 10:34am
Thanks to Mr."D" and all the contributors to this thread...I needed this...Only one hundred pages in and I can already see & feel the difference it is making in my life...Your method is awesome....Still struggling with the waves and determining the current trend, but am confident it will sink in....Thanks, again
  • #3,392
  • Apr 14, 2011 10:40am Apr 14, 2011 10:40am
I think I have to invent a system for my mouse that gives me small electric shocks when I try and force a trade that doesnt meet specific rules

support at 4450 so I took a long at 4463 thinking it was a 123 setup
  • #3,393
  • Apr 14, 2011 10:41am Apr 14, 2011 10:41am
100 up 150 down 120 up wild swings i stayed away to fight another day
  • #3,394
  • Apr 14, 2011 10:53am Apr 14, 2011 10:53am
ok people ive been asked for an adaptable version of the setup indicator so here it is.

the only difference is, in the settings you can change "distance from the MA" (ie is the bar within 2.4 pips of the ma). this helps poeple with different digit brokers etc.

so if you are trading eu with 5 digits you would set it to 0.00024
if you trade eu with 4 digits you set it to 0.0002 and so on.... so you can even adapt it to gold or stocks etc if you want to.
Attached File(s)
File Type: mq4 !Ret Setup.mq4   4 KB | 671 downloads
  • #3,395
  • Apr 14, 2011 11:00am Apr 14, 2011 11:00am
Quoting d4n
ok people ive been asked for an adaptable version of the setup indicator so here it is.

the only difference is, in the settings you can change "distance from the MA" (ie is the bar within 2.4 pips of the ma). this helps poeple with different digit brokers etc.

so if you are trading eu with 5 digits you would set it to 0.00024
if you trade eu with 4 digits you set it to 0.0002 and so on.... so you can even adapt it to gold or stocks etc if you want to.
Thanks d4n !
  • #3,396
  • Apr 14, 2011 11:18am Apr 14, 2011 11:18am
what ever happened to the old pencil and paper lol
  • #3,397
  • Apr 14, 2011 11:21am Apr 14, 2011 11:21am
finally, waited for a good signal, jumped in long at 63 for a +22 gain.

I bet deer hunters would make good traders, this is like sitting in a stand waiting for hours for a shot to line up, minus freezing your ass off.
  • #3,398
  • Apr 14, 2011 11:21am Apr 14, 2011 11:21am
and yet another flag trade whew
  • #3,399
  • Apr 14, 2011 11:25am Apr 14, 2011 11:25am
First off, unlike DIV I have to trade around my work schedule so forgive me for not following that rule.

Here is an EU long trade. Notice we have a strong up move and then we get a wave from the top that is in a narrow range that kinda goes up, down, up down. If you want to add another tool to your tool box learn how to recognize these waves. I waited for the break and the small retrace to the 10 SMA and we have a SUB. Very quick +19 pips.

By the way..once this wave is completed, we more than likely will have divergence on the RSI.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 5m 4th wave trade t6 14.4.11.jpg Size: 146 KB
  • #3,400
  • Apr 14, 2011 12:29pm Apr 14, 2011 12:29pm
Quoting Rcwso
No problem. I don't want to speak for everyone or hijack the thread, but this thread has done a good job of keeping pure to Divergence's system without throwing in too many variables etc. This is one of the first threads I have seen do that. Most turn into someone modifying the original system to the point no one knows what is going on anymore. That is the only reason why I mentioned that. It was not to be mean or turn you away. No harm or malice intended.

Happy Days.
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