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Flag trading the trend

  • #4,261
  • May 6, 2011 8:27am May 6, 2011 8:27am
Quoting gtrade
Hi Rcwso,

Well done for spotting a good trade; you can retire just trading that pattern.

My analysis of that trade was it ticked most boxes but I would have liked it to pull back more on the 123 and not drift down.
The most successful trades of that set-up need to be taken as close to the top of the turn as possible as we can't be sure that they will unfold in a 5 wave in our direction.
Obviously, if you get that trade off a good resistance line and you see divergence in your favour then you are even more confident.

to take the trade...
Gray, I agree with your assessment. For myself this is where some of the "art/interpretation" of trading and chart reading comes into play. I am still testing/learning what works with those trades and I have found that they are very reliable. I tested that one and it worked. So many variables to the 123s in all reality. I like the way they look and act, so I personally believe they are good trades. Again, I agree with your assessment and the reasons to make it even more reliable. I will take those words and incorporate for the future.

Thanks for looking and responding.
  • #4,262
  • May 6, 2011 8:43am May 6, 2011 8:43am
Quoting jmw1970
Hi Rcwso

thanks for the updated PDF's - noticed 2 slight mistakes

Standard Flag Trading PDF - In the page of Down Trend Rules, it says the CCI must be > 50, this should be "CCI must be < -50"

123 Trading PDF - In the page of 123 setup in a Up Trend (ie. countertrend 123), it says CCI must be < 50, this should be "CCI must be < -50" (the negative sign was missing)

Of course anyone who has been following the thread should know that these are typos, but you never know.

Can you confirm that the SUB for a 123 can NEVER be also the...
These now have been fixed and are reflected in VERSION 3 of the PDF. Thank you.
  • #4,263
  • Edited 8:59am May 6, 2011 8:45am | Edited 8:59am
Version 3 is the most up to date version of the Flag the Trend Trading PDF. It is posted and reflected in the original post.

Version 2 is the most up to date version of the Flag the Trend Trading 123 PDF. It is posted and reflected in the original post.

Changes are listed on the post.

Thanks to those that have caught the errors.
  • #4,264
  • May 6, 2011 12:27pm May 6, 2011 12:27pm
Thanks RC for the great work on the PDFs....Helped a lot....Thanks Div for the tweak video....Simple is better....
Don
  • #4,265
  • May 6, 2011 7:01pm May 6, 2011 7:01pm
Quoting Rcwso
Version 3 is the most up to date version of the Flag the Trend Trading PDF. It is posted and reflected in the original post.

Version 2 is the most up to date version of the Flag the Trend Trading 123 PDF. It is posted and reflected in the original post.

Changes are listed on the post.

Thanks to those that have caught the errors.
Hey Rcwso

Thanks for all the extra work on the newest V.3 and V.2.

  • #4,266
  • May 7, 2011 1:40pm May 7, 2011 1:40pm
thank you for your pdf, rcwso
Quoting Rcwso
The rule about sub in a 123 cannot be point 3 also is a direct quote from Divergence here on the thread. post # 3286 "point 2 can also be point 3 but never 3 & s u b." That is where I got it and so I listed it as an extra rule. I haven't seen too many cases where this is even an issue.
my english is poor but in his recent webinar video Mr. Div shows a 123 and says "this one was not only the 3 point but also the set up bar at the same time - that's fine"
Attached Image
  • #4,267
  • May 7, 2011 2:55pm May 7, 2011 2:55pm
Quoting Rcwso
Version 3 is the most up to date version of the Flag the Trend Trading PDF. It is posted and reflected in the original post.

Version 2 is the most up to date version of the Flag the Trend Trading 123 PDF. It is posted and reflected in the original post.

Changes are listed on the post.

Thanks to those that have caught the errors.
Hi Rcwso,

Thanks for the PDF file.
There is some errors in your PDF, about trading time, both US and London sessions are same time 12:30 to 15:30 GMT.
  • #4,268
  • May 7, 2011 4:07pm May 7, 2011 4:07pm
Quoting marian
thank you for your pdf, rcwsomy english is poor but in his recent webinar video Mr. Div shows a 123 and says "this one was not only the 3 point but also the set up bar at the same time - that's fine"
Fair enough, I am just quoting him from this thread. Don't know what to tell you. Maybe Divergence can chime in and resolve this.

Divergence, can you answer or clarify what you meant by the above quote and the webinar?
  • #4,269
  • May 7, 2011 4:09pm May 7, 2011 4:09pm
Quoting SnR
Hi Rcwso,

Thanks for the PDF file.
There is some errors in your PDF, about trading time, both US and London sessions are same time 12:30 to 15:30 GMT.
SnR, Those are not errors in the PDF. Those are correct based on when Divergence trades. They are the same times. Divergence trades from the East Coast of the US and he typically trades from 0830-1130 EST. That is 1230-1530 GMT. So those times are correct according to the times that he trades. Those times have been verified several times by him in this thread and on the videos.

Other people trade different times with the London only or US only.
  • #4,270
  • May 7, 2011 5:08pm May 7, 2011 5:08pm
Quoting Rcwso
SnR, Those are not errors in the PDF. Those are correct based on when Divergence trades. They are the same times. Divergence trades from the East Coast of the US and he typically trades from 0830-1130 EST. That is 1230-1530 GMT. So those times are correct according to the times that he trades. Those times have been verified several times by him in this thread and on the videos.

Other people trade different times with the London only or US only.

Hello RC! I'm coming late to the party, but i really like what i see. I dont really understand it all, are the PDFs on the previous page accurate? I would like to print them out and study them.
  • #4,271
  • May 7, 2011 8:48pm May 7, 2011 8:48pm
Quoting BigRatt
Hello RC! I'm coming late to the party, but i really like what i see. I dont really understand it all, are the PDFs on the previous page accurate? I would like to print them out and study them.
Those are the most up to date.
  • #4,272
  • May 8, 2011 7:14am May 8, 2011 7:14am
Quoting Rcwso
Fair enough, I am just quoting him from this thread. Don't know what to tell you. Maybe Divergence can chime in and resolve this.

Divergence, can you answer or clarify what you meant by the above quote and the webinar?
My understanding from what Div said was that the s u b could also be point 3, but it couldn't be points 2,3 at the same time.
  • #4,273
  • May 8, 2011 8:43am May 8, 2011 8:43am
RCWSO thanks for the PDF´S they are very helpfull...

Inserted Video
  • #4,274
  • May 8, 2011 10:31am May 8, 2011 10:31am
Quoting tb62
My understanding from what Div said was that the s u b could also be point 3, but it couldn't be points 2,3 at the same time.
I think we need Divergence to clarify. This is the direct quote from him in post # 3286 "point 2 can also be point 3 but never 3 & s u b."

That is where I got the info. We will get to the correct answer and post as necessary. If I have to make a change, I will.

Thanks for the info.
  • #4,275
  • May 8, 2011 1:30pm May 8, 2011 1:30pm
on 123's point 3 can also end up being s u b it can never be point 2 and 3 in my book its only a pt 2 now if a candle takes out that high we have a 123
  • #4,276
  • May 8, 2011 6:07pm May 8, 2011 6:07pm
One of the things i'm not getting about this system is, how do you qualify the highs and lows? The chart on post 7 has last higher low written on it at about the 3700 area, but yet there is one above it at 3723 area. This is confusing me greatly as it is hard for me to understand your criteria for taken out swings. Thank You Sir, I appreciate your generosity.
  • #4,277
  • May 8, 2011 6:41pm May 8, 2011 6:41pm
Attached Image (click to enlarge)
Click to Enlarge Name: AU Long 5.08.2011.JPG Size: 108 KB


Took this long...
  • #4,278
  • May 8, 2011 6:48pm May 8, 2011 6:48pm
Just took a marginal 123 on GU for 11 pips. Not sure if it was really that hot of a trade but it also had some of the bigger moves on for today.

Anybody else?
  • #4,279
  • May 8, 2011 6:55pm May 8, 2011 6:55pm
Quoting diamonddbw
Just took a marginal 123 on GU for 11 pips. Not sure if it was really that hot of a trade but it also had some of the bigger moves on for today.

Anybody else?
Still in my long AU. I know,,its the M15 but SUB was was 19 p's, had HH's and HL's..and looking for the break above the 7317 area. The longer trend line from the 5th has HH and HL as well.
  • #4,280
  • May 8, 2011 6:59pm May 8, 2011 6:59pm
Attached Image (click to enlarge)
Click to Enlarge Name: AU 5.08.2011 #2.JPG Size: 117 KB


Overall of the AU and what I'm seeing
13 traders viewing now