Plan the Trade

sorry, i do not see what you mean :-(

Look at top green line you drew price went to there then pulled back then it tried to take out high but didn't that's the 123 I am talking about

yes understood :-)

These are my fave's (the small 123 circled), back into trend;



If you're unsure about taking the exact prior Supply (circled to the left), then the next best thing is seeing if a 123, triggers and retraces (the set-up that Harold mentions)

They are beautiful setups CG real price action at it's finest

The argument for setting limits is growing stronger by the day!

I went cycling yesterday and ended up getting back much later than anticipated. I didn't even open my charts. Had a quick look a moment ago, to see that another alert level triggered in my absence on Cable - (reaction was at the exact prior Res to the very left of chart and the base of the move up);



I love the way this works!) I had it in my mind that we needed to print this level as a minimum before going back up, (imo the action this week has been corrective with non stop crossovers etc)...

This is how i view flag trades;



Here on the Audi yesterday, there was a nice set-up.

My favourite, is when point 2 of the 123 makes a 2B LL (top example). It is far less likely to become a B wave and then go higher yet for wave C. It is more like a validation that the 123 is good to go - return to trend.

Failing that, the example in the chart is generally equally as good. It is when point 2 of the 123 also touches the flagline created from connecting the start of the pullback and wave B low.
If the pullback for point 3 is shallow, i am happy to go on entry (break of point 2 and thus also flagline), especially if it happens with a nice thrust/momentum bar. Stop above point 3.

If point 3 was a deeper pullback, i would likely wait for a break and retest of the flagline later, thus it is simply a 123, thrust and retrace, the same as always. Adding the flagline just makes it easier to see.

123 2b supply and demand bars makes for profitable trading

for you cableguy:

123, triggers and retraces

Morning All.

Just closed this for 2.2R.

Nice chart examples thomi, having a stock set of setups to refer to would really help me. I can collate these into a PDF which can then be attached to the thread if this is of use to everyone.
Is this how the 2b is traded by you guys

Hi everyone, just finished the whole thread. Amazing.

I can only trade Forex at the moment but have access to a zero (well almost zero) spread account, is there anything else except the lack of tick charts on MT4 that would prevent someone to be successful with this strategy on Forex?

2b break I see it like that

put on more trades than I wanted but end result was great

Quick switch of direction there on the last 2 trades. Fast thinking. : )

-37 today

since I was up more than expected I had to try 1 more ended up with 11 more

not really once I saw the thrust bar I knew trade wasn't going up so had cursor on spot and when BE came just clicked sell limit

your bailing to quickly imop