dn4, What do you have your RSI(8) applied to? I'm applying mine to high (when comparing higher highs) and low when comparing lower lows. So looking at the HH's on your chart, I didn't have divergence where you started your 123. Glad you hit TP ...

Flag trading the trend

Hey diamond, Try placing a limit order 1 pip above setup bar instead of getting in with a market order. It gets you in very close to where you wanted to enter usually.

Flag trading the trend

Diamond, I have to say, you crack me up just about daily.

Flag trading the trend

Jon, Before taking any flag trend trade always be checking whether divergence is beginning to set up. If you've seen a long move in one direction already, you can almost be assured divergence is around the corner. At 8:45 EST price had made a big ...

Flag trading the trend

Anyone looking for a div. 123 to set up? Looks like one is due.

Flag trading the trend

E/J - setting up div. at support level. Not trading on a Sunday night, just watching.

Flag trading the trend

I agree. It really shouldn't be too difficult to find 2-3 good trades per week with this strategy. I'm talking about strictly by the book trades. When in doubt, no trade. And if you trade 1-3% of the account per trade, should be very profitable. I'm ...

Flag trading the trend

I have to differ with you on this one. I think a well defined div. 123 setup is very reliable especially when the trend is questionable. If current short term trend differs from overall trend, the div.123 setup is all I'm looking for. I took three ...

Flag trading the trend

d4n, Didn't see you take a loss all week. When will you be taking on clients? When you say the setup was ugly, are you referring to the 2 in your 123 setup not being a new swing high? thanks

Flag trading the trend

I think I'll follow that pair along with you big D.

Flag trading the trend

I take it you didn't trade with divergence breaking down.

Flag trading the trend

Are you guys looking for shorts yet. Say a bounce off the 420 area for EU? I was looking for this downward movement yesterday when 4h and daily were showing divergence.

Flag trading the trend

diamond, I decided early in the session I wasn't going to take any shorts against the overall trend so I was looking for the div. 123. Saw the divergence forming about an hour earlier and then this was the first 123 setup.

Flag trading the trend

Yep, got that one.

Flag trading the trend

Carefull with those counter trend trades. Overall trend is up.

Flag trading the trend

Hey tb, Is that RSI or CCI on your chart showing divergence? It should be RSI. My RSI shows no divergence at that spot. I still wouldn't have entered being that late in the session.

Flag trading the trend

Mike, The trigger bar was the long one touching the 10 ma. So a one pip break of that and you're in.

Flag trading the trend

I took the div, 123 and got out with partial profit. Should have stayed in for the ride but wimped out like a rookie. I need to start trusting these setups. 123 setup wasn't the prettiest. No resistace to trade off of. Plus I'm trading big lots.

Flag trading the trend

Are ypu guys considering a div. 123 if it sets up here. No resistance though.

Flag trading the trend

I see the divergence but no 123??

Flag trading the trend