Predator FX58- HTF/MTF 123

Ensure to use low leverage- low size trades if not doing demo. I tend to test on live that is just me. When you are consistent in trading your plan growing an account is not hard.

The 1-2-3 ver. 3 is the Indictator with projection, 123 ver 6 shows past and present 123 patterns by arrows and horizontal support lines if I remember correctly, now the version 7 is an update with lots of errors that freezes the mt4, not sure why but It came up once before. It usually freezes though - bad.

Finally there is 1 ea. I know was created for it directly but I am not sure if that is the one uploaded but by later I will know and b update if anything. The other is a zigzag I think.

Semi automation is done through the open fibo order script.
Which places an order 1 pip above 100 fib level with take profit at 161.8 and stoploss at the zero level.

It would be good to get an option for the 4 possible take profits mentioned above being 138.2, 161.8, 261.8 & 423 I think.

When I add more the excitement will begin. Probably in a couple hours.

More information on the 123 pattern setup will be added from my research folder. This information will expound on the setup along with more pictures of trades that were either taken and are being observed as part of the research for validity of the signals seen.

There are some weekly and monthly trade setups that I will compare to present market conditions in order to see if they really played out on the expectations based on the signal...these trade scenario will be observed as though they were taken.

hi..thanks.
u..can.make..add.pinbar..pattern.and
template

Hello, I have modified it
V7

Great i will try...And give feedback for your precious time.

Amazing!!!! I think this is the one i was talking about when i said it would have horizontal lines and arrows to show previous break of the 123's...Great. I am a happy Camper.

I will be continuing to enter the information on 123, showing text book setups first. Then live Examples and observations for trades that would have been taken.

It remains
work on expert and add support and resistance

This will be great especially barry support and resistance.

When the trader is in the state of understanding the extent of retracement on the trade, this will ensure that the trader knows where the entry for the reversal or continuation trades will be made for possible entries.

a) Short Trade

The short trades are those made to the downside as reversal following the 1-2-3 pattern formed after a previous uptrend. The uptrend experiences great resistance found at some signification level or fundamental data releases. This to some traders are considered as though price has topped out at point 1, then was very weak to continue hence the price reverses downwards to find support at point 2. Point 3 is a 38.2% or 50% retracement of a line drawn from line 1 to 2. Point 3 is at a lower horizontal level than point 1. From point 3, price reverses downwards, breaking the support at point 2. This trade is now actually initiated at this point where this support level is broken by price action. Therefore all the trader needs to do is go back to preschool stage of life when they start looking out for the 1-2-3 formation which forms prior to what can be a very profitable trading point.

Once this 1-2-3 pattern is identified by the indicator, the next stage is to trade the break of the support created at point 2. A horizontal line is created by the indicator to highlight the entry point #2 outwards, so that the line can be used as the trade trigger point, as well as the reference vital spot for setting up the Stop Loss.

1-2-3 Reversal Setup for Short Trade

We can see from this snapshot that some traders enter at the aggressive stage while some enter at the conservative Point 3 which is usually found at the 61.8% retracement level of line 1-2 (this was not shown). This can be confirmed on your platform by tracing the Fibonacci extension tool on your charts from point 1 to 2, this will be a good reference in making a pending order of what level to place an order where point 3 will hopefully break out of this level and move lower. The price moves downward from point 3, and the trade can be taken as a Sell order on breakout of the pending order/market order which would have been found at point #2.
Should price go to break level one (1) of the 123 a continuation is on the way.

Thanks to "fifi743"there is no freezing of the indicator to plot previous 123 setups. I will show a live trade taken on Gold an asset so many persons fear. I took this trade without this strategy but lets look on how it lines up with the trade.

This Gold trade was taken from the 29th of June.

Gold entry with 123 As entry point.

H4 setup for Gold sell Trade. Went through to 161.8 and 261.8 fib extension levels, Can't ask for anything better.

For the medium to long term traders even the daily had a valid setup that materialized, taking out the first target already.

There it is, a live trade example of gold trade that was taken and could have been taking by you, now what do you say...? Does it look good or what? Some traders only look for 10 pips per day, this was more than a 100! Whether you trade H1, H4 or Daily chart there was a trade for you.

This trade broke 6 levels of support.

The nest trade setup i will talk about is Gbpusd please take a look prior to the inputs i will make. I will show you a live 123 reversal in the making, high probability setup.

Cheers!

Note well, this is not a trade recommendation pursue on your on trigger.