even if that was ur s u b, price needs to take it out by a pip on the next bar, or no trade, if that subsequent bar is still under -50 and closes below sma, then that is ur 2nd chance s u b
- #3,682
- Apr 19, 2011 12:18pm Apr 19, 2011 12:18pm
- Joined Feb 2011 | Status: Probabilities, Not Absolutes | 1,246 Posts
- #3,684
- Apr 19, 2011 12:43pm Apr 19, 2011 12:43pm
- Joined Apr 2011 | Status: NQ eta moi lybov... | 3,030 Posts
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
- #3,685
- Edited 2:07pm Apr 19, 2011 1:40pm | Edited 2:07pm
- Joined Sep 2010 | Status: Trader | 2,034 Posts
ahhh so you're the one thats kept me on hold all afternoon huh? 
It's ok i am seeing the error of my ways. #1 error is just identifying the trend, in the chart i posted earlier I thought the trend was breaking from up to down since there was a high, a lower high and then a lower low. However, my noob TA was way off and it was still in an uptrend.
** this part below is my own personal setting not part of div's flag method**
I was just messing around with my charts and put the 50 sma up, i think it may help me confirm the overall trend, actually in that exact trade the price went down ,touched the 50 but never broke below it before it came back up. that would have been a big red flag telling me not to take any short positions.
Right now the 50 is cutting right through the middle of PA so if it goes under i'll only be looking for shorts until it breaks above again. I think I'll try this on demo and see if maybe that helps me with trend confirmation.
It's ok i am seeing the error of my ways. #1 error is just identifying the trend, in the chart i posted earlier I thought the trend was breaking from up to down since there was a high, a lower high and then a lower low. However, my noob TA was way off and it was still in an uptrend.
** this part below is my own personal setting not part of div's flag method**
I was just messing around with my charts and put the 50 sma up, i think it may help me confirm the overall trend, actually in that exact trade the price went down ,touched the 50 but never broke below it before it came back up. that would have been a big red flag telling me not to take any short positions.
Right now the 50 is cutting right through the middle of PA so if it goes under i'll only be looking for shorts until it breaks above again. I think I'll try this on demo and see if maybe that helps me with trend confirmation.
- #3,689
- Apr 19, 2011 5:28pm Apr 19, 2011 5:28pm
- Joined Feb 2011 | Status: Probabilities, Not Absolutes | 1,246 Posts
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Perhaps a more liberal interpretation of trend on my part. 21 hours earlier price was 1.4156. Proceeded to go up 90 pips, make a LH double bottom @ 1.4200, and had been going up since.
Even though a significant HH was not made, I made the call to trade this pair at this time based on recent movement (preceeding explanation) and the fact that the EU had not gotten close to it's adr.
My charts are closed now, but I believe there was hidden divergence which told me price was not finished climbing.
[b]The following...
Thanks D !
