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Trading is as simple as 1-2-3

  • #6,121
  • Mar 26, 2018 3:56am Mar 26, 2018 3:56am
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Ditto for the GJ +5 locked
  • #6,122
  • Mar 26, 2018 4:04am Mar 26, 2018 4:04am
Quoting hal7
{image} Short JY +5 locked. Textbook, now +12 switched to 10 trailer
Well done hal7, I chose EJ from these pairs as I like the setup most, and its still struggling at this point :-)
  • #6,123
  • Mar 26, 2018 4:54am Mar 26, 2018 4:54am
Quoting pasopvirpot
{quote} Well done hal7, I chose EJ from these pairs as I like the setup most, and its still struggling at this point :-)
Yeah they all have reversed course on the JY pairs at this point which justifies my stops. I do happen to be long the GU on another system set up and that is perking along nicely +25.
  • #6,124
  • Mar 26, 2018 5:40am Mar 26, 2018 5:40am
Thanks Tooslow for this method, I just happened to know about this few days ago and having a try on this. It made my entry much better than before. Being sticky here to learn more and more
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  • #6,125
  • Mar 26, 2018 6:44am Mar 26, 2018 6:44am
Quoting RossiWendy
Thanks Tooslow for this method, I just happened to know about this few days ago and having a try on this. It made my entry much better than before. Being sticky here to learn more and more {image}
Welcome aboard, RossiWendy. Hope you find a home here.
  • #6,126
  • Mar 26, 2018 7:43am Mar 26, 2018 7:43am
Quoting lemercenaire
{quote} Welcome aboard, RossiWendy. Hope you find a home here.
Certainly, thanks Lemercenaire

Trying another pair with what I understanding from this method... want to see if I catched it correctly or not. Comments are welcome please.
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  • #6,127
  • Mar 27, 2018 2:27am Mar 27, 2018 2:27am
'Morning all.

Off the back of my DAX morning trade, it once again showed as a classic 1-2-3. Fine by me.

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  • #6,128
  • Mar 27, 2018 3:08am Mar 27, 2018 3:08am
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Long CF +5 locked
  • #6,129
  • Mar 27, 2018 3:31am Mar 27, 2018 3:31am
Morning guys, had a bit of a tough day with 1-2-3 yesterday, first a short on the DAX that just stopped out on that one bar that exceeded the previous highs before dropping down. Then also 2 failed trades on EJ, both occasions seemed like good setups to me.

Only trade so far for today, a nice 1-2-3 short on GOLD and I've locked in profits already.

I notice a few examples posted where trades are taken without price really testing the high/low of the previous bar, just moving immediately or a test of as little as 1-2 pips only. Are these personal adaptations to the setup and what do you guys typically look for before entering. E.g. hal7 UC trade above.
  • #6,130
  • Mar 27, 2018 3:55am Mar 27, 2018 3:55am
Quoting pasopvirpot
Morning guys, had a bit of a tough day with 1-2-3 yesterday, first a short on the DAX that just stopped out on that one bar that exceeded the previous highs before dropping down. Then also 2 failed trades on EJ, both occasions seemed like good setups to me. Only trade so far for today, a nice 1-2-3 short on GOLD and I've locked in profits already. I notice a few examples posted where trades are taken without price really testing the high/low of the previous bar, just moving immediately or a test of as little as 1-2 pips only. Are these personal...
Be very, very, careful with The DAX. I know it inside out now because I run it all day on other methods. It behaves in very particular ways that you need time to get a feel for. The rewards are superb but it is extremely dangerous.

As for UC. Cad will more often than not top-and-tail the day with a 1-2-3, so if you see a new extreme right at the off, then you can afford to take a little risk on it being a good move coming. (There will often be a little mini-move in the middle of the day also, just as the US comes into play).
  • #6,131
  • Mar 27, 2018 4:01am Mar 27, 2018 4:01am
Quoting lemercenaire
{quote} Be very, very, careful with The DAX. I know it inside out now because I run it all day on other methods. It behaves in very particular ways that you need time to get a feel for. The rewards are superb but it is extremely dangerous. As for UC. Cad will more often than not top-and-tail the day with a 1-2-3, so if you see a new extreme right at the off, then you can afford to take a little risk on it being a good move coming. (There will often be a little mini-move in the middle of the day also, just as the US comes into play).
UC was also coming of a major Demand Zone.

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EJ hadn't reached it's Supply Zone / Turncoat Resistance yet yesterday but had today.

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  • #6,132
  • Mar 27, 2018 4:02am Mar 27, 2018 4:02am
Quoting pasopvirpot
Morning guys, had a bit of a tough day with 1-2-3 yesterday, first a short on the DAX that just stopped out on that one bar that exceeded the previous highs before dropping down. Then also 2 failed trades on EJ, both occasions seemed like good setups to me. Only trade so far for today, a nice 1-2-3 short on GOLD and I've locked in profits already. I notice a few examples posted where trades are taken without price really testing the high/low of the previous bar, just moving immediately or a test of as little as 1-2 pips only. Are these personal...
Technically that CF trade did follow the rules. If you look at the numbers it moved .2 toward that low and then moved up triggering the trade. But I have also taken them when they moved 0. Generally I don't though. I do like to see a strong move toward the high or low before turning. But I have seen many such trades that take off like this. It was a fairly strong move and sure enough went 27 pips in the hour. Studying those moves over the course of a year or so there is no guaranteed success pattern that I have found that one is better than the other.
  • #6,133
  • Mar 27, 2018 4:17am Mar 27, 2018 4:17am
Quoting hal7
{quote} Technically that CF trade did follow the rules. If you look at the numbers it moved .2 toward that low and then moved up triggering the trade. But I have also taken them when they moved 0. Generally I don't though. I do like to see a strong move toward the high or low before turning. But I have seen many such trades that take off like this. It was a fairly strong move and sure enough went 27 pips in the hour. Studying those moves over the course of a year or so there is no guaranteed success pattern that I have found that one is better than...
Yeah, sorry, I read pasopvirpot's post say UC and of course assumed USDCAD, not USDChf!

Same deal applies, as it turns out.
  • #6,134
  • Mar 27, 2018 4:18am Mar 27, 2018 4:18am
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By contrast here is the GU set up from hours ago. It did a fairly strong 5 pip move toward that high and reversed. Nicely. To the tune of +99 had you been fortunate enough to be there. I wasn't at the time. However I did get on board about an hour or so ago on what I call the "line in the sand" trade and am sitting at +47.
  • #6,135
  • Mar 27, 2018 4:19am Mar 27, 2018 4:19am
Quoting lemercenaire
{quote} Yeah, sorry, I read pasopvirpot's post say UC and of course assumed USDCAD, not USDChf! Same deal applies, as it turns out.
USDChf
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  • #6,136
  • Mar 27, 2018 4:20am Mar 27, 2018 4:20am
Quoting lemercenaire
{quote} Yeah, sorry, I read pasopvirpot's post say UC and of course assumed USDCAD, not USDChf! Same deal applies, as it turns out.
I understand the confusion Lem. I happen to call the USD\CAD, CA which can really get confusing.
  • #6,137
  • Mar 27, 2018 4:22am Mar 27, 2018 4:22am
Quoting hal7
{quote} I understand the confusion Lem. I happen to call the USD\CAD, CA which can really get confusing.
Yes, it can, lol.
  • #6,138
  • Mar 27, 2018 4:30am Mar 27, 2018 4:30am
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And to add further to the confusion I posted the GU above on the 30 minute chart because I had refreshed the chart and forgot to switch it back. But hey it's Tuesday. And you can see clearly on this 1H that it looks equally as good. If you read the fine print on the 30 min it says, "Only works on 1H timeframe!" I beg to differ.
  • #6,139
  • Edited 5:26am Mar 27, 2018 4:59am | Edited 5:26am
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By further contrast lets look at the CF again. One pattern I see quite often. I had the CF long after the strong move up. This hour it showed a potential reverse set up going back down. It did move up toward the high and did come back down through the open. But I didn't particularly like this trade. The momentum was all to the upside. And sure enough after dancing around at the open for better part of an hour it did move up and take out that stop. So these types I like to stay away from.
  • #6,140
  • Mar 27, 2018 5:19am Mar 27, 2018 5:19am
Thanks a lot lem and hal7 for the clarifications, much appreciated.
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