Flag trading the trend | Page 215 | 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

  • #4,281
  • May 8, 2011 7:01pm May 8, 2011 7:01pm
Quoting TraderinSD
Still in my long AU. I know,,its the M15 but SUB was was 19 p's, had HH's and HL's..and looking for the break above the 7317 area. The longer trend line from the 5th has HH and HL as well.
+++++++++++++++
Hey TD. Looks like a good trade. Low volume on opening day makes me like the "Quickies" for short gains.

Trading very small because I'm still not online from house. Everything on 13". But with the latest tweak it can be done.
  • #4,282
  • May 8, 2011 7:03pm May 8, 2011 7:03pm
Moving stop to break even ..as I am 5 pips frm target
  • #4,283
  • May 8, 2011 7:05pm May 8, 2011 7:05pm
exit w/ 20 pips..
  • #4,284
  • May 8, 2011 7:16pm May 8, 2011 7:16pm
Quoting diamonddbw
+++++++++++++++
Hey TD. Looks like a good trade. Low volume on opening day makes me like the "Quickies" for short gains.

Trading very small because I'm still not online from house. Everything on 13". But with the latest tweak it can be done.
I would agree.. But thought I had a solid SUP @ 19 and if I could get through the S/R I might get the right move. The major junk was back on the 4th...Cleaner moves through these areas on the 6th....
That was my take

  • #4,285
  • May 9, 2011 4:16am May 9, 2011 4:16am
Flag trade loss today (as well as 123) - USDCHF - entry at 09:00 GMT short

Can anyone see anything wrong with it - looks fine by the rules

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf_1.gif Size: 22 KB
  • #4,286
  • May 9, 2011 6:29am May 9, 2011 6:29am
once mkt broke 8750, i think you should have been looking for longs (according to last webinar)price then came down to test the LL and gave you a sub3 bars after your entry--for a winning long
  • #4,287
  • May 9, 2011 7:36am May 9, 2011 7:36am
Thanks TBJ,

somehow missed the hh, probably due to the fact that i was using zigzag, will get rid of this and just mark normally in future.

so easy to see in hindsight, was probably over zealous after not trading on nfp - missing by buzz!!

Quoting tbjohnton
once mkt broke 8750, i think you should have been looking for longs (according to last webinar)price then came down to test the LL and gave you a sub3 bars after your entry--for a winning long
  • #4,288
  • May 9, 2011 10:39am May 9, 2011 10:39am
Did not breach the new 20 pip rule on my feed, retracement finder/cci was below 0, textbook trade, although every time I say that I get corrected.
In comparison to the rest of the day, the trend was easy to find, so I wait until it's obvious-don't get more obvious than that.

Apologies, chart looks different as have stochs as am used to looking at them to see divergence, and price has been converted to heiken ashi to reduce price chatter.
Attached Image
  • #4,289
  • May 9, 2011 11:02am May 9, 2011 11:02am
Quoting bootsyjam
Did not breach the new 20 pip rule on my feed, retracement finder/cci was below 0, textbook trade, although every time I say that I get corrected.
In comparison to the rest of the day, the trend was easy to find, so I wait until it's obvious-don't get more obvious than that.

Apologies, chart looks different as have stochs as am used to looking at them to see divergence, and price has been converted to heiken ashi to reduce price chatter.
Shouldn't the CCI be -50?
  • #4,290
  • May 9, 2011 11:07am May 9, 2011 11:07am
my sub would have been 19, new rule says dont take if >18(get to 20 with entry and stoploss spread)
  • #4,291
  • May 9, 2011 11:47am May 9, 2011 11:47am
Quoting bootsyjam
Did not breach the new 20 pip rule on my feed, retracement finder/cci was below 0, textbook trade, although every time I say that I get corrected.
In comparison to the rest of the day, the trend was easy to find, so I wait until it's obvious-don't get more obvious than that.

Apologies, chart looks different as have stochs as am used to looking at them to see divergence, and price has been converted to heiken ashi to reduce price chatter.
How long have you been using HA's for this method? HA's do tend to cut down on the price chatter. It might help one stay in the trade longer.

As far as Sto’s to spot divergence, no sure why Div picked but you will most likely get an answer shortly.
  • #4,292
  • May 9, 2011 11:50am May 9, 2011 11:50am
Quoting tbjohnton
my sub would have been 19, new rule says dont take if >18(get to 20 with entry and stoploss spread)
So then my trade last night on the AU was outside the new rule. My SUB was 19 and change....and with order, spread , etc I exceeded the 20 mark... OOPS !

Thanks for the info TB
  • #4,293
  • Edited 2:09pm May 9, 2011 12:41pm | Edited 2:09pm
Quoting jmw1970
Flag trade loss today (as well as 123) - USDCHF - entry at 09:00 GMT short

Can anyone see anything wrong with it - looks fine by the rules

Regards
Hi jmw1970,

You've got quite a few waves in a down trend with a break in the pattern at the end. therefore i'd be looking for a long opportunity. also, the bars don't look too good.
If you miss the first opportunity to go long don't re-enter until a significant prior high is taken out and re-tested.
ALSO, TRY AND KEEP THE MINIMUM AMOUNT OF STUFF ON YOUR CHART.
  • #4,294
  • May 9, 2011 6:17pm May 9, 2011 6:17pm
Quoting tas0s
Shouldn't the CCI be -50?
I concur. The CCI value of that SUB (set up bar) is no where near -50. Remember, SUB CCI -50 for selling, SUB CCI +50 for buying. It's NOT under 0 for selling and above 0 for buying. Also, the time slot! Was the trade taken during the recommended 8:30-11:30AM EDT? Please if you're not following the rules, do not post your trades. You're only confusing other traders who want to learn this method.
  • #4,295
  • May 10, 2011 2:34am May 10, 2011 2:34am
The CCI is -50 on the trade.

The indicator that I use was kindly put on this thread somewhere.

When the vertical bar shows white on the indicator, either above or below the 0 horizontal line for longs or shorts, then this is in actual fact showing that, for the first time, the CCI is now above/below 50. You're obviously looking at the horizontal lines that mark the - or +50 area, and see that the vertical white line has not reached those areas. As I've explained, they're actually redundant as the white vertical bars tell me what I need to know. I thought more people used this indicator-clearly not.

I find this indicator is a more visual representation of the CCI, and I find it easier to follow/see what is going on. It is not deviating from the rules, it merely shows the CCI levels in a different way.

Thanks to my feed which is different to others, I received a signal yesterday, and I took it, and it did not violate Divergence's method.
Happy trading!
  • #4,296
  • May 10, 2011 7:50am May 10, 2011 7:50am
Looks like a possible 123 setting up on EU. Any Thoughts?
  • #4,297
  • May 10, 2011 8:00am May 10, 2011 8:00am
Quoting diamonddbw
Looks like a possible 123 setting up on EU. Any Thoughts?
I missed the 123 that formed earlier to go long. I am looking for a flag right now to go long off the support of 1.437XX area.
  • #4,298
  • May 10, 2011 8:07am May 10, 2011 8:07am
Quoting Rcwso
I missed the 123 that formed earlier to go long. I am looking for a flag right now to go long off the support of 1.437XX area.
And maybe not so much now. Wait and see what happens next. Patience.
  • #4,299
  • May 10, 2011 8:07am May 10, 2011 8:07am
I should also addd that the time of the trade was taken in the afternoon in the middle of the US market trading times, my broker is not set to Eastern US time. Who knew that there were people who traded outside the USA
  • #4,300
  • May 10, 2011 8:13am May 10, 2011 8:13am
Quoting diamonddbw
Looks like a possible 123 setting up on EU. Any Thoughts?
+++++++++++++++++++

This one worked out well. The last A/S I had a 123 that got stuffed. Was considering a "Pity Party" before I pulled my head out of the dark place and remembered that "Hey, I gotta take one for the team here and there".
1 trader viewing now