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Flag trading the trend

  • #7,361
  • Jul 28, 2015 10:08am Jul 28, 2015 10:08am
Quoting Divergence
{quote} not understanding we are in downtrend we look for 2b or 123 which is hh hl not a hh
thanks Harold ... think i've got it - looking back was 2nd brent trade legit:

Attached Image (click to enlarge)
Click to Enlarge Name: br28jul15a.png Size: 40 KB
Become the casino
  • #7,362
  • Jul 28, 2015 10:32am Jul 28, 2015 10:32am
Quoting erasmus66
{quote} thanks Harold ... think i've got it - looking back was 2nd brent trade legit: {image}
yes it was a 2b followed by a 123
  • #7,363
  • Jul 28, 2015 10:33am Jul 28, 2015 10:33am
Could someone posr crude chsrt
  • #7,364
  • Jul 28, 2015 10:47am Jul 28, 2015 10:47am
Quoting Divergence
Could someone posr crude chsrt

fwiw
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: crude fwiw 2.jpg Size: 136 KB
  • #7,365
  • Jul 28, 2015 10:50am Jul 28, 2015 10:50am
Please post 18 tick range bar line chart
  • #7,366
  • Jul 28, 2015 10:53am Jul 28, 2015 10:53am
Quoting Divergence
Please post 18 tick range bar line chart

18 range
Attached Image (click to enlarge)
Click to Enlarge Name: CL 09-15 (18 Range) 7_28_2015 18 tick range bar chart.jpg Size: 117 KB
  • #7,367
  • Jul 28, 2015 10:54am Jul 28, 2015 10:54am
Here you go.
Attached Image (click to enlarge)
Click to Enlarge Name: Crude Range #43.png Size: 38 KB
  • #7,368
  • Jul 28, 2015 10:57am Jul 28, 2015 10:57am
Thanks its easier to see it in a downtrend but when we get a 2b followed by a 123 in essence its a head and shoulders pattern super setup off the123 right shoulder that wss our long at 24
  • #7,369
  • Jul 28, 2015 10:59am Jul 28, 2015 10:59am
It looks like a hat sometimes a witches or cowboy or derby
  • #7,370
  • Jul 28, 2015 10:59am Jul 28, 2015 10:59am
Quoting Divergence
Thanks its easier to see it in a downtrend but when we get a 2b followed by a 123 in essence its a head and shoulders pattern super setup off the123 right shoulder that wss our long at 24

my new favorite pattern....
  • #7,371
  • Jul 28, 2015 11:02am Jul 28, 2015 11:02am
Does this help?
Attached Image (click to enlarge)
Click to Enlarge Name: Crude Range #44.png Size: 67 KB
  • #7,372
  • Jul 28, 2015 11:05am Jul 28, 2015 11:05am
Quoting erasmus66
{quote} thanks Harold ... think i've got it - looking back was 2nd brent trade legit: {image}
take this example say you entered on the 2b short and you b e it was followed by a 123 to get in again
  • #7,373
  • Jul 28, 2015 11:06am Jul 28, 2015 11:06am
Quoting JackAntigua
Does this help? {image}
perfect example jack there it is a cowboy hat.
  • #7,374
  • Jul 28, 2015 11:11am Jul 28, 2015 11:11am
Notice the thrust once 2 pt is broken
  • #7,375
  • Jul 28, 2015 11:15am Jul 28, 2015 11:15am
Using same chart look left you have a witch's hat to short. So a h and s pattern is made up with a 2b and a 123 patrern
  • #7,376
  • Jul 28, 2015 11:20am Jul 28, 2015 11:20am
Some people call them W and M patterns . short the W buy the M
  • #7,377
  • Jul 28, 2015 11:31am Jul 28, 2015 11:31am
Can some post a chart from any date they want except a Wednesday and find this pattern
  • #7,378
  • Jul 28, 2015 11:36am Jul 28, 2015 11:36am
here's the difference between back test and live trading: on back test would have logged this as a +40 whereas in reality i was up 19 and revised sl to +10 which is what i got:

Attached Image (click to enlarge)
Click to Enlarge Name: cl28jul15.png Size: 57 KB
Become the casino
  • #7,379
  • Jul 28, 2015 11:40am Jul 28, 2015 11:40am
like you say Harold, when we get a 2b followed by a 123, we know this is a very reliable signal so should be more generous with stop loss revisions
Become the casino
  • #7,380
  • Jul 28, 2015 11:41am Jul 28, 2015 11:41am
Quoting erasmus66
here's the difference between back test and live trading: on back test would have logged this as a +40 whereas in reality i was up 19 and revised sl to +10 which is what i got: {image}
this is true erasmus on some not all also it depends where we stand profit wise. If i was up 30 and doubled lot size i would have made 20
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