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DislikedThanks for opening this thread Pippypuppy, I had seen the 123 pattern before, but never tried using it.
I will rectify that oversight.
On the subject of exits, I too have spent many hours testing various methods & what I found worked best was a 13EMA on the open price, it sometimes gets you out early but when the market takes off you catch those moves.Ignored
Disliked123 has some potential
i'd like to find better entries than just the break of 2, if possible, ie. as close to 3 as possible
and be confident in the trend,......pivot sequences are good, but i want to confirm them alsoIgnored
DislikedGood thread so far.. watching from the sidelines, hope you don't mind the post..
As kook already mentioned Paulus is a good one to look at for 123's.. he's also at this thread and his results are excellent.. http://www.forexfactory.com/showthread.php?t=276813
FWIW, he uses heiken ashi (which might get you in closer to 3) and 3 level zz semafor..
Here's a 5min chart from eu this morning showing entry candle in yellow circle
Balrog.Ignored
DislikedYeah HA candles...tried them ...might try them again. Do you know where I can get the semifor indicator that seems to help out with finding the 123Ignored
DislikedHey Excellent. Thankyou! Used to use HA candles and just put them on the chart now. If I was using those I would always like to toggle to traditional before taking a trade because for me anyway, it's much easier to see when there is volume in the market and when there isn't looking at standard candles..
HA sort of distorts that. Maybe I need to read more about them (although I did that last week) LOL But I will definately toggle back and forth to see if they can give an edgeIgnored
DislikedHere's an indi that puts the heiken ashi into bars at the bottom of your chart while still looking at the traditional candles themselves. In my chart earlier you wll see the white/red bars at the bottem correspond to the ha candles.. I only put the heiken ashi candles on my chart to demonstrate..
Balrog.Ignored
DislikedI use an old method that has been around since the start of time and exists in all markets, on all charts, gold, silver, pork bellies, forex etc
It's called the 123 system and I like it because the stop and limits are roughly the same, apart from spread. BUT if you go to a higher time frame spread becomes less and less compared to the amount of pips you get back. And in my experience it wins slightly more than it loses.
I will show you that in real times posts.
In the mean time lets get started. I will show you my first chart using HA candles....Ignored