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Flag trading the trend

  • #7,161
  • Jul 22, 2015 10:58am Jul 22, 2015 10:58am
Hey jack if you took all the trades plus the one 2b long you missed it looks like 150 tick day. Remember these are turning points so if there are no waves going up to that point ( if there were you would have had a signal ) then its a valid 2b
  • #7,162
  • Jul 22, 2015 11:05am Jul 22, 2015 11:05am
Quoting Divergence
Hey jack if you took all the trades plus the one 2b long you missed it looks like 150 tick day
If only, I'm still in testing/confidence building mode but hugely impressed with things so far.

I got my screenshots a bit muddled in my previous post, this is the one I meant to show of the double bottom.
Attached Image (click to enlarge)
Click to Enlarge Name: Crude Range #9.png Size: 53 KB
  • #7,163
  • Jul 22, 2015 11:09am Jul 22, 2015 11:09am
Ok since trend was still up at that point you would go long from point 2 which looks like a b e trade then it goes down forms a big 2b no wave up and a 40 tick win. See how we are on right side of market 90% of the time
  • #7,164
  • Jul 22, 2015 11:25am Jul 22, 2015 11:25am
Jack look at low of day then look left a previous low it did go past by a lot it wss a bear trap thats why it shot up
  • #7,165
  • Jul 22, 2015 12:13pm Jul 22, 2015 12:13pm
Can't say much else, than "Isn't it lovely". Really top notch material H is describing here. Today was great day in the markets, even with Crude news.
  • #7,166
  • Jul 22, 2015 3:03pm Jul 22, 2015 3:03pm
Hi Divergence,

I'm still a bit confused as to whether a 3 (from a 123) can become a 1 for a continuation move as per the attached.

Mighty impressive strategy by the way.
Attached Image (click to enlarge)
Click to Enlarge Name: Crude Range #10.png Size: 57 KB
  • #7,167
  • Edited 3:26pm Jul 22, 2015 3:13pm | Edited 3:26pm
finally home heres the charts for the trades today on brent first then crude
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.png Size: 70 KB
Click to Enlarge Name: 2.png Size: 76 KB
  • #7,168
  • Jul 22, 2015 3:30pm Jul 22, 2015 3:30pm
Quoting JackAntigua
Hi Divergence, I'm still a bit confused as to whether a 3 (from a 123) can become a 1 for a continuation move as per the attached. Mighty impressive strategy by the way. {image}
heres the thing when we made high of the day the trend is up till low of the day is taken out. that 123 at top of market was a reversal trade against the trend of the day jack we must stay within the context of the market so we know which direction to trade from make sense ?
  • #7,169
  • Jul 22, 2015 3:41pm Jul 22, 2015 3:41pm
Quoting Divergence
{quote}heres the thing when we made high of the day the trend is up till low of the day is taken out. that 123 at top of market was a reversal trade against the trend of the day jack we must stay within the context of the market so we know which direction to trade from make sense ?
Ok, so what we're saying is that the reversal trade was valid but once it had run it's course, we might expect the Daily trend (which was up at that point) to reassert itself. So, after that point we would be looking for long trades unless the low of the day was taken out in which case we would be looking to the downside?
  • #7,170
  • Jul 22, 2015 3:43pm Jul 22, 2015 3:43pm
Quoting JackAntigua
{quote} Ok, so what we're saying is that the reversal trade was valid but once it had run it's course, we might expect the Daily trend (which was up at that point) to reassert itself. So, after that point we would be looking for long trades unless the low of the day was taken out in which case we would be looking to the downside?
you got it your a quick learner. I have shared this with many and till this day still don't get it. kudos to you
  • #7,171
  • Jul 22, 2015 3:45pm Jul 22, 2015 3:45pm
these are the turning points it seems
  • #7,172
  • Jul 22, 2015 3:50pm Jul 22, 2015 3:50pm
And following on this theme, would this have been a valid entry once the low of the day had been taken out?
Attached Image (click to enlarge)
Click to Enlarge Name: Crude Range #11.png Size: 64 KB
  • #7,173
  • Jul 22, 2015 4:02pm Jul 22, 2015 4:02pm
I haven't really looked at continuation setups with the trend that might work but usually when markets take out highs or lows of day usually a reversal pattern shows up I would rather take that which happens via profit taking then look for a reversal to get back in the trend at a better price buy low sell mindset
  • #7,174
  • Jul 22, 2015 4:08pm Jul 22, 2015 4:08pm
Quoting Divergence
I haven't really looked at continuation setups with the trend that might work but usually when markets take out highs or lows of day usually a reversal pattern shows up I would rather take that which happens via profit taking then look for a reversal to get back in the trend at a better price buy low sell mindset
Ok, new low, profit taking, retracement, previous support becomes resistance, new short setup?
  • #7,175
  • Jul 22, 2015 4:12pm Jul 22, 2015 4:12pm
now you are seeing these turning points
  • #7,176
  • Jul 23, 2015 5:53am Jul 23, 2015 5:53am
Although pre New York session, another 123 example, currently +1 locked-in and still running.
Attached Image (click to enlarge)
Click to Enlarge Name: Crude Range #12.png Size: 63 KB
  • #7,177
  • Jul 23, 2015 6:21am Jul 23, 2015 6:21am
And that's where it ended although interestingly moving the stop to -1 instead of +1 you'd still be in the trade.

Looking at a 15 min chart with volume indicator on though shows just how low liquity is now compared to during the NY session. Very nice volume divergence at the highs from yesterday on this chart also.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Crude Range #13.png Size: 62 KB
Click to Enlarge Name: Crude 15 min #1.png Size: 30 KB
  • #7,178
  • Jul 23, 2015 7:30am Jul 23, 2015 7:30am
market in a range
  • #7,179
  • Jul 23, 2015 7:44am Jul 23, 2015 7:44am
Pre open 2b, would have been +10.
Attached Image (click to enlarge)
Click to Enlarge Name: Crude Range #14.png Size: 64 KB
  • #7,180
  • Jul 23, 2015 7:50am Jul 23, 2015 7:50am
hey jack you are spotting these all over the place which is really good. but there was no defined trend its in a 30 tick range
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