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Flag trading the trend

  • #4,341
  • May 11, 2011 4:47pm May 11, 2011 4:47pm
Not yet anyway with the GBP
  • #4,342
  • May 12, 2011 4:06am May 12, 2011 4:06am
can someone says why this trade is a looser.
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  • #4,343
  • Edited 6:12am May 12, 2011 4:14am | Edited 6:12am
looks like you went to the well one too many times. after an extended up/down move you need to anticipate a reversal. the divergence at the bottom should have signaled that a reversal was imminent--sub for the perfect 123 was invalid since >2.4 under #2
  • #4,344
  • May 12, 2011 4:57am May 12, 2011 4:57am
USD/CHF two trades long, first hit my stop -15 pips, second got close to stop me out, had to leavefor work so closed it at +2pips.
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  • #4,345
  • May 12, 2011 5:07am May 12, 2011 5:07am
EUR/USD
First trade long, stopped out, news at the hour so not a good time to enter. -14 pips.

Second trade short +12 pips.
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  • #4,346
  • May 12, 2011 6:51am May 12, 2011 6:51am
Here's a nice 1.2.3. trade. White horizontal line is an entry point, Sub is 15.00 GMT+1 candle and is within 2pips from point 2 and from MA.

I keep the RSI (8) for divergence check up. Moreover I inserted the 45/55 levels instead of default 30/70 for additional confirmation for buy/sell entries.
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  • #4,347
  • May 12, 2011 7:19am May 12, 2011 7:19am
Hi Ral1n

not sure how much difference it makes but your SMA(10) should be on Median (HL/2) not close.


Quoting Ral1n
Here's a nice 1.2.3. trade. White horizontal line is an entry point, Sub is 15.00 GMT+1 candle and is within 2pips from point 2 and from MA.

I keep the RSI (8) for divergence check up. Moreover I inserted the 45/55 levels instead of default 30/70 for additional confirmation for buy/sell entries.
  • #4,348
  • May 12, 2011 7:22am May 12, 2011 7:22am
Quoting jmw1970
Hi Ral1n

not sure how much difference it makes but your SMA(10) should be on Median (HL/2) not close.

Yes, you're right jmw1970, I just don't have that option in Bloomberg. The only available are high, low, open and close. I generaly use MT4 for trading and have the SMA set to typical price (H+L/2).

You've got some good eyes I can see!
  • #4,349
  • May 12, 2011 7:50am May 12, 2011 7:50am
Does anybody have a RSI Histo btw? I wish there was one that looked like Divergence Finder or Bloomberg version.

Ohhh, this is my current MT4 chart. The rainbow helps determine the trend. Some folks may find this tool very valuable.

Disclaimer: I do not intend to change the overall rules. There is only my individual preference using rainbow.
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  • #4,350
  • May 12, 2011 8:03am May 12, 2011 8:03am
divergence + 123 reversal in action on eur/usd ?
  • #4,351
  • Edited 4:26pm May 12, 2011 4:24pm | Edited 4:26pm
Anyone watching the 123 on the EJ? With Negative Div
  • #4,352
  • May 12, 2011 4:29pm May 12, 2011 4:29pm
Hi Diamond, yes was watching, but news at 8
  • #4,353
  • Edited 4:54pm May 12, 2011 4:41pm | Edited 4:54pm
Quoting MeLe
Hi Diamond, yes was watching, but news at 8
++++++++++++++++++
Market is pretty flat, but EJ can get on a jet pack this time of day.

Is Bernanke the news you're talking about? Div doesn't count Fed speakers, for the most part. And plus, he'll just be regurgitating what he presented to congress this am.

Call me in 20 minutes to make sure I'm still awake...
  • #4,354
  • May 12, 2011 4:44pm May 12, 2011 4:44pm
Quoting diamonddbw
Anyone watching the 123 on the EJ? With Negative Div
++++++++++++++++++
No go by 3rd -50 bar, so no trade.
  • #4,355
  • May 12, 2011 4:47pm May 12, 2011 4:47pm
Quoting diamonddbw
++++++++++++++++++
Market is pretty flat, but EJ can get on a jet pack this time of day.

Is Bernanke the news you're talking about? Div doesn't count Fed speakers, for the most part. And plus, he'll just be regergetating what he presented to congress this am.

Call me in 20 minutes to make sure I'm still awake...
Darryl the news on baby Pips has two news both high impact 1 EC spring forecast 2 French GDP
  • #4,356
  • May 12, 2011 5:09pm May 12, 2011 5:09pm
Quoting MeLe
Darryl the news on baby Pips has two news both high impact 1 EC spring forecast 2 French GDP

Well the news was there for 8am this morning, just checked again and now they are for 13.30, Well I guess that it is Friday the 13th, over here anyway
  • #4,357
  • May 12, 2011 5:11pm May 12, 2011 5:11pm
Quoting MeLe
Darryl the news on baby Pips has two news both high impact 1 EC spring forecast 2 French GDP
++++++++++++++++++++++
Didn't know they posted news. I wonder how many traders look @ BP for news. I guess that's not the question I need to ask. It depends on what's broadcast on "Trade the News" and what the big guys think is important.
  • #4,358
  • May 12, 2011 5:14pm May 12, 2011 5:14pm
Quoting diamonddbw
++++++++++++++++++++++
Didn't know they posted news. I wonder how many traders look @ BP for news. I guess that's not the question I need to ask. It depends on what's broadcast on "Trade the News" and what the big guys think is important.
Yes I have always taken news from BP but as from now will change to FF
  • #4,359
  • May 13, 2011 5:13am May 13, 2011 5:13am
hey mr. Div., haven't seen you for a while...how are you?
  • #4,360
  • May 13, 2011 6:03am May 13, 2011 6:03am
Quoting vince
hey mr. Div., haven't seen you for a while...how are you?
+++++++++++++++++

Hi Vince. The list, in general, has been way quieter than normal. Maybe summer trading is underway. Everyone has made Sooooo Much money, that the list is beneath them.
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