The "Flip" Trade (support and resistance changing roles)

[walterw 10]

HI Walter,

 

Thanks for your reply, I was curious to see what type of orders you were using.

 

What about higher time frames do you use those in this strategy to confirm the direction of the trend?

 

Patrycja

 

The timeframe I use is 22T chart on YM, now the concept can be also used on higher timeframes as well like 55T or 110T... about the trend, the keltner actually is used for trend definition, wich its setting is high enough to represent the trend of a x5 universe... for example on the 22T chart the keltner may represent the trend of a 110T chart... so there is no need to look at two diferent charts at the same time, as this larger indicators discount larger timeframes trends... cheers Walter.

[Patrycja 10]

The timeframe I use is 22T chart on YM, now the concept can be also used on higher timeframes as well like 55T or 110T... about the trend, the keltner actually is used for trend definition, wich its setting is high enough to represent the trend of a x5 universe... for example on the 22T chart the keltner may represent the trend of a 110T chart... so there is no need to look at two diferent charts at the same time, as this larger indicators discount larger timeframes trends... cheers Walter.

 

Thanks Walter,

 

Yes I get your point, excellent stuff.

 

I must say the Flips and ABCs are a great way to trade, I am going to check your other threads, so I can implement your other setups that you have posted. I think with a knowledge of 4-5 setups and good money management it works out to a great profitable trading strategy.

 

By the way has anyone of you tried trading the Eurex Instruments these are available via OpenECry like the Bund, Schatz and Bobl. I think these setups are great on those support and resistance lines.

 

Patrycja

[walterw 10]

Thanks Walter,

 

Yes I get your point, excellent stuff.

 

I must say the Flips and ABCs are a great way to trade, I am going to check your other threads, so I can implement your other setups that you have posted. I think with a knowledge of 4-5 setups and good money management it works out to a great profitable trading strategy.

 

By the way has anyone of you tried trading the Eurex Instruments these are available via OpenECry like the Bund, Schatz and Bobl. I think these setups are great on those support and resistance lines.

 

Patrycja

 

 

Certainly there are a good bunch of setups that you can trade and make your daily target without any problem... still with just ONE setup, if you get to the point of mastering it, its good enough to make a profitable career... I will be posting some flip trades and abc trades, so we can enjoy a little bit how this wonderfull setups where able to make us some consistent profits... consistency is key on any traders career... and its posible... cheers Walter.

[Patrycja 10]

Thanks Walter,

 

I appreciate your time in making this thread alive again.

 

Patrycja

[walterw 10]

Here are some flips ... cheers Walter.

[Patrycja 10]

Hi Walter,

 

Here is a trade I did today, only took 2 ticks as it was very close to the value line and it started going the other way.

 

I have also started trading the YM on a 55 Tick chart so I will post trades as I go.

 

Patrycja

Edited September 9, 2008 by Patrycja

[Patrycja 10]

Hi All,

 

Here is a high resolution diagram of these two great setups.

 

ABC and Flips.

 

Patrycja

[MC 10]

Thanks for bumping this Pat...good info.

What are the keltner settings you or Walt use on the setup?

 

Thanks

[Patrycja 10]

Thanks for bumping this Pat...good info.

What are the keltner settings you or Walt use on the setup?

 

Thanks

 

Hi MC,

 

Here are the settings that I am currently using.

 

Patrycja

[walterw 10]

Nice post Pat... probably that trade up there was a little premature its exit... the ideal setup is the one that re-tests the level and then starts to continue on the original direction... keep posting, and lets keep getting better into this setup... thanks Walter.

[Fibone 10]

The 4 hr FTSE100 chart shows *S/R flipping back and forth.

 

*Horizontal and TrendLine

[Patrycja 10]

Hi Walter,

 

Thanks for your last post.

 

Yes I must say I had a look at the 55 Tick YM and that is too fast for me. I might have to try these setups on a 5min chart.

 

I have a question with regards to ATR, can you give me some advice on how to use this in an intraday trading situation. I am sure you mentioned this in one of your other threads, just not sure where.

 

Patrycja

[walterw 10]

Hi Walter,

 

Thanks for your last post.

 

Yes I must say I had a look at the 55 Tick YM and that is too fast for me. I might have to try these setups on a 5min chart.

 

I have a question with regards to ATR, can you give me some advice on how to use this in an intraday trading situation. I am sure you mentioned this in one of your other threads, just not sure where.

 

Patrycja

 

Do you mean Keltners ATR settings on an intraday chart ?

[Patrycja 10]

Do you mean Keltners ATR settings on an intraday chart ?

 

Hi Walter,

 

Thanks for your reply. I wanted to know about the intraday ranges, how would you use that information in your intraday trading.

 

Do you take the average range of a daily over a certain time and use that information to see how much it would move in a single day?

 

This is probably a silly question.

 

Patrycja

[walterw 10]

Hi Walter,

 

Thanks for your reply. I wanted to know about the intraday ranges, how would you use that information in your intraday trading.

 

Do you take the average range of a daily over a certain time and use that information to see how much it would move in a single day?

 

This is probably a silly question.

 

Patrycja

 

atr on keltners is calculated from the range of the bars (h-l)... my inputs are quite discretionary, I actually try to see how the pivots get formed inside-outside to determine this settings...

[Patrycja 10]

Hi Walter,

 

Thanks for your replies and assistance.

 

I have posted my trades for today not much, it worked out to be a coil day, after looking at the volume profile there was a nice perfect bell curve which explained why the last two trades failed on me.

 

I have incorporated your long term pivots together with your flips, ABC and WM Trades.

 

Let me know what I am missing in these trades if you can.

 

Patrcyja

[walterw 10]

Hi Pat, what timeframe are you using on that chart ? thanks Walter.

[Patrycja 10]

Hi Pat, what timeframe are you using on that chart ? thanks Walter.

 

 

Hi Walter,

 

Yes I am using 55Tick charts on that one.

 

Yes it was a complete ranging market, so I lost around 25 Euros on those trades.

 

Patrycja.

[TheNegotiator 13]

Such a simple idea and yet so often a really profitable method if executed well. This is just the same as a trade I took yesterday in the ES. Broke through IB low, extended, retraced to IB low, made new lows. Cracking trade.

 

Take a look at this thread for the chart:-

 

Day Trading the E-mini Futures