Trading is as simple as 1-2-3

Nice job breaking it down. Good advice.

Cheers, Bo.

Took the CF short on this one and got my +5 locked

I was reading the discussion on set ups, etc. and as per usual Lem offered some excellent insights.
One thing I would tell you Pasopvirpot is to clean up your charts, particularly ditch the MA's, TooSlow will also tell you he doesn't want to see them on the charts posted here.

Now about this particular CF trade, these are trades I take quite often, technically they are not strictly 123 trades because it made a new high on the current bar. Also you look at the high after high made. 5 straight hours. And trying to squeeze +5 out of that would have resulted in a lot of lost pips. So why did I take this one. In this hour after it broke that new high it came down pretty hard through the open. Often as you will see on those previous hours it inched down and then went back up to make the new high. Those are the ones are try to avoid, the "train" types. Those are simply small pull backs as the strong trend marches on. Again in this case it moved up to make the new high then came back down.

This is not a sure shot formula however, bear in mind. Sometimes these set ups will show that same move and still turn around and take me out. It is part and parcel to trading. Make trades, stick to the basic rules, and learn by what works and what does not work for YOU. That's my best advice. And one final thought don't over-analyze it either as many of us tend to do.

EJ showing a possible drop set-up.

I didn't take this trade but again is shows the flipside of the CF trade, this time long. Made the new low and shot back up through the open.

Earlier I had taken the NZ short and fell just short of my mark. This go round I took it against a very short stop, this time with better results and got some of it back. I took it against very little loss risk. I have noticed today some very strong trends going particularly against the JY so far.

UC - and EJ once it stalls - could be good later.

What u mean stall will be better?

Yes, at the moment it's pushing higher and higher. We go in on that and we get steam-rollered. We wait for the momentum to fade and enter on the retrace.

In these circumstances, you can never be quite sure if you are still going in too early, so if you're nervous, you can let it confirm and look for a HOLO trade instead.

Jumped on The DAX's back for a drop out of the Supply Zone...

EJ ready to drop now? Maybe...maybe...

Maybe seems on the mark ..............Nope

Short GJ +5 same bar How many hours of highs, count 'em 9.

Finally the JY short +5 same bar.

And finally the EJ short same bar, 10 hours later. Hope you were on board Lem. Wouldn't be surprised to see it go back up though.

I'm on a different play re EJ, Hal.

The area around 132.700 holds an interest.

I switched over to UC in The Dead Zone for more immediate action.

Aha, I see. It looks to be hanging around, got a piece.

If it drops and closes below 132.113 on the H1, then retests that, I'd be looking short.

NU keeps me busy. A HOLO set-up as well...

Thanks hal7 for your advice above, much appreciated. I've dropped the MA's :-)

First trade for the day, a nice EU short at 1.2369, locked 5 pips on 50%, and trailing the balance with SL at +10 now. (Edit: stopped out at +10)

Thinking you guys would've also had a successful GU or EU trade this hour...