Trading simple 1-2-3 & swing patterns

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You showed no 123 setups at all you must have different criteria for 123s

Yep. A combination of "traditional" 1-2-3 patterns and swing patterns. The picture shown in post 1 are simple swing patterns; simple 1-2-3 setups were described in my previous threads as noted in post 1. Rigidity to strict pattern "rules" is not needed to profitably trade these types of market movement- other than to abide by the stoploss. I will say that the patterns I trade are aligned to swing patterns described by William Dunnigan's "One Way Formula" published in the 1950's.


Best,

Dave

Edit: shown below are a few 1-2-3 patterns. As shown in the images, I don't wait for price to break above the high of bar #3 to enter a buy trade, or break below the low of bar #3 to enter a sell trade, I use the high/low of bar #1, it just depends on how price moves after a new swing bar is made. The bottom line is that reversals take many forms: "perfect" patterns and "ugly" patterns can both be profitable as well as be unprofitable. We just don't know how far price will directionally move subsequent to the formation of the swing bar, so the key is to strictly abide by the stoploss.

I am a strict 123 pattern guy along with 2b setups good luck to you

Always the best to you too Divergence. I'll read through your thread. My philosophy is that everybody trades differently and whatever works for "you" is your own "Holy Grail".


Dave

Then get acquainted with market profile

I'm familiar with the Market Profile... I read Steidlmayer's first book "Market Logic", lol, and also Dalton's book on Market Profile & Auction market theory.

Dave

I can't trade without it by the way I don't trade forex but the nq

To ensure a complete trading system, traders need more than just an indicator, namely, risk management, position sizing, timing, trading journals to evaluate progress, entry rules, exit rules, etc. For this purpose, the official MQL5 website provides a free 1-2-3 indicator you might want to use to spot 1-2-3 patterns. Being a professional trader, I prefer to spot them myself.