Attachments: Flag trading the trend

Flag trading the trend

#9,301
Dec 21, 2015 10:27am Dec 21, 2015 10:27am

Divergence
Joined Jul 2010 | Status: Trader | 9,189 Posts

there was a gift from 20 for 35 now I made 63 today which is more than acceptable considering what we were looking at for 2 1/2 hrs

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#9,302
Dec 21, 2015 10:29am Dec 21, 2015 10:29am

Divergence
Joined Jul 2010 | Status: Trader | 9,189 Posts

Quoting ddaytrader

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{quote} Testing low of RTH session. Break below and hold would make for a target of 17050's and then Friday's low. My position is short, my stop and targets are in, and I am going out. This trade is in God's hands now. {image}

Ignored

DD is that a 5 minute chart

#9,303
Dec 21, 2015 10:36am Dec 21, 2015 10:36am

ddaytrader
Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts

Quoting ddaytrader

Disliked

{quote} Testing low of RTH session. Break below and hold would make for a target of 17050's and then Friday's low. My position is short, my stop and targets are in, and I am going out. This trade is in God's hands now. {image}

Ignored

Hit the 17050's target and soon for test of Friday's 17028 low. A break below there that does not soon reverse higher would put the YM on crash alert status for hundreds of ticks, imo.

EDIT: Friday's low trades, so targets of +50, +100 and +120 in the books. I love the 5 minute chart for keeping me straight.

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#9,304
Dec 21, 2015 10:39am Dec 21, 2015 10:39am

ddaytrader
Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts

Quoting Divergence

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{quote}DD is that a 5 minute chart

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Yes D. Love the 5 minute for keeping me on the right side of the market more often than not.

#9,305
Dec 21, 2015 10:44am Dec 21, 2015 10:44am

Divergence
Joined Jul 2010 | Status: Trader | 9,189 Posts

Quoting ddaytrader

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{quote} Yes D. Love the 5 minute for keeping me on the right side of the market more often than not.

Ignored

so looking at the above 5 minute chart that wedge happened where

#9,306
Dec 21, 2015 10:48am Dec 21, 2015 10:48am

Divergence
Joined Jul 2010 | Status: Trader | 9,189 Posts

ok I think I found it

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#9,307
Dec 21, 2015 11:02am Dec 21, 2015 11:02am

jtrade
| Joined Feb 2006 | Status: Trader | 1,392 Posts

You know, H, a long time ago - in a galaxy far, far away - the OP started this thread using 5 minute charts ...

As for me, what a day NOT to be trading (I was not) : 250 points up and 250 down on the DAX :

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#9,308
Dec 21, 2015 11:05am Dec 21, 2015 11:05am

ddaytrader
Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts

Quoting Divergence

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ok I think I found it {image}

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On my chart, I only plot the regular trading hours price action, i.e. 9:30 Eastern to 4 PM eastern. I do mark off the globex high and low prior to the open. Those levels are often good for trades at or near the open.

#9,309
Dec 21, 2015 11:06am Dec 21, 2015 11:06am

Divergence
Joined Jul 2010 | Status: Trader | 9,189 Posts

Quoting jtrade

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You know, H, a long time ago - in a galaxy far, far away - the OP started this thread using 5 minute charts ... As for me, what a day NOT to be trading (I was not) : 250 points up and 250 down on the DAX : {image}

Ignored

yes I remember it well

#9,310
Dec 21, 2015 11:07am Dec 21, 2015 11:07am

Divergence
Joined Jul 2010 | Status: Trader | 9,189 Posts

Quoting ddaytrader

Disliked

{quote} On my chart, I only plot the regular trading hours price action, i.e. 9:30 Eastern to 4 PM eastern. I do mark off the globex high and low prior to the open. Those levels are often good for trades at or near the open.

Ignored

very informative DD great input

#9,311
Dec 21, 2015 11:11am Dec 21, 2015 11:11am

ddaytrader
Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts

Here is a zoomed out view of my 5 minute regular trade hours YM chart. I'm going out to enjoy my life. Have a great day all!

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#9,312
Dec 22, 2015 9:03am Dec 22, 2015 9:03am

Divergence
Joined Jul 2010 | Status: Trader | 9,189 Posts

not much info today off 5 minute but was able to grab 2 short plays off the 7 tick rb for 40 and 40

#9,313
Dec 22, 2015 5:12pm Dec 22, 2015 5:12pm

ddaytrader
Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts

Quoting Divergence

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not much info today off 5 minute but was able to grab 2 short plays off the 7 tick rb for 40 and 40

Ignored

You have to trade the one that gives you your planned set ups, D. If you are making $$$ on 7R, then follow the old "if it ain't broke don't fix it!" And you have what is in my opinion the best thread going at FF at the moment. So as always, kudos and a big

to you!

As an aside, any of the bar intervals - whether based on time series or based on ranges would have (or should have) signaled a globex high test failure short at the open.

Here are some notes that outline set ups I like to take. All hindsight, of course, but very easy to spot in real time with just a little bit of practice. The moving average is a 21 period exponential. It is a good level to watch through the day as it gives a good current picture of the 5 minute trend. It can also help to highlight trend day pullback entries, imo.

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#9,314
Edited 7:04pm Dec 22, 2015 6:33pm | Edited 7:04pm

Divergence
Joined Jul 2010 | Status: Trader | 9,189 Posts

Good stuff DD I have a 50 sma on chart and always have yesterday H and low and other days. What I have noticed with the YM is 7 tick range is too fast though i was able to grab 2 today but missed 3 others.so I needed to slow things down and still be able to have a 13 tick stop which seems to be the sweet spot. So I use 333 tick line chart and use a combo of s and r and 123 setups. Shorts occur below 50 buys above

#9,315
Dec 22, 2015 7:19pm Dec 22, 2015 7:19pm