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1 2 3 Strategy explained

  • #21
  • Aug 16, 2010 11:35am Aug 16, 2010 11:35am
thanx for your sharing.

I also want to ask for help from anyone who can, regarding recognizing trend strngh by graphic analysis and no indicator.

thanks alot.
  • #22
  • Aug 16, 2010 12:47pm Aug 16, 2010 12:47pm
I will definitely be following this thread with interest, this fits in perfectly with some of my more recent stuff.

Thanks for the excellent thread keep it coming!
  • #23
  • Aug 16, 2010 1:47pm Aug 16, 2010 1:47pm
tunera can you tell sth more about a pattern which gives you the basis to think that the move will go on much far from your initial take profit goal?
btw your stats on myfx are impressive
  • #24
  • Aug 16, 2010 2:31pm Aug 16, 2010 2:31pm
Quoting TEB63
Here is how i do it I trade 1.2.3 break all the time
I use the 20 rsi to confirm
great thread!!

Attachment



teb

TEB63,
thank you for your post,
can you tell me why use RSI(20) to trend confirm?, why not MACD or other indicator?, I dont said its wrong, only want know what is the logic begind your choose.
Nice tread, this is the way I trade, thank you Tunera and keep working, this is a very nice, simple and profitable trade style.
The best to all.
Popeye.
To make an omelet you have to break a few eggs so breathe and be happy
  • #25
  • Aug 17, 2010 2:55am Aug 17, 2010 2:55am
Quoting tunera
I've just made an image about the trend reverse i was writing above:

http://warnsoft.altervista.org/imgs/7b.gif

i dont understand this at all. can you explain in a simple way ? how do you identifiy the 1 2 3 ? there could be many 1 2 3 's on the chart, how do you identify which one is valid ?


what time frame do you use ?
  • #26
  • Aug 17, 2010 3:04am Aug 17, 2010 3:04am
good stuff
easy and effective which this forum lacks lately
keep it up im secretly reading
  • #27
  • Aug 17, 2010 4:47am Aug 17, 2010 4:47am
great thread

similar with you, i use this system too.
I only trade EU pair 5min timeframe.
  • #28
  • Aug 17, 2010 7:11am Aug 17, 2010 7:11am
This is a very nice setup in Eurusd now, I loose it, was sleeping but very nice to see develope.

Badeway, this is a clasic 1-2-3, where the rigth shoulder is a pit lower than the left one.

We"ll se what happend, good trade to all.

Popeye
Attached Image (click to enlarge)
Click to Enlarge Name: Nice setup in eurusd.jpg Size: 165 KB
To make an omelet you have to break a few eggs so breathe and be happy
  • #29
  • Aug 17, 2010 8:36am Aug 17, 2010 8:36am
Quoting Popeye
This is a very nice setup in Eurusd now, I loose it, was sleeping but very nice to see develope.

Badeway, this is a clasic 1-2-3, where the rigth shoulder is a pit lower than the left one.

We"ll se what happend, good trade to all.

Popeye
Good setup my friend!

Here's what i'm looking today:

http://warnsoft.altervista.org/imgs/10.gif

First target is about 50pips from entry, second one is about 100pips.
Let's see how it develop!
  • #30
  • Aug 17, 2010 9:56am Aug 17, 2010 9:56am
Quoting tunera
Good setup my friend!

Here's what i'm looking today:

http://warnsoft.altervista.org/imgs/10.gif

First target is about 50pips from entry, second one is about 100pips.
Let's see how it develop!



Nice, very nice, I like it and the numbers are rigth, that is 1-2-3, and here your M-W system...its very nice.

Best regards

Popeye
Attached Image (click to enlarge)
Click to Enlarge Name: today first.gif Size: 39 KB
To make an omelet you have to break a few eggs so breathe and be happy
  • #31
  • Aug 17, 2010 3:58pm Aug 17, 2010 3:58pm
Quoting Popeye
Nice, very nice, I like it and the numbers are rigth, that is 1-2-3, and here your M-W system...its very nice.

Best regards

Popeye
Hey great trade! Congratulations!

One post ago i had put a 1-2-3 setup, actually i think is not valid anymore.
Why:

Simply, on the 15min and 1h chart it looks very valid, but on 1min 5min 30min and 4h tf situation is totally different.
We try to understand the various supports and resistance looking on bar charts, however sometime it can happen that a situation on a tf don't coincide with the situation on other tf (i'm working hard to fix this kind of problems). But looking on different tf solve very easily the problem, i just have to start doing it as a must before take in consideration any signal.
Below some charts showing all this:

The 15min chart intially posted:
http://warnsoft.altervista.org/imgs/12b.gif

The 5minchart:
http://warnsoft.altervista.org/imgs/12a.gif

The 30min chart:
http://warnsoft.altervista.org/imgs/12c.gif

As you can see, i don't say that we are surely not going to break the point2 (1.2825), it can happen, however the scenario of the 5 and 30min chart looks much more correct to me.
We have to be very careful when spotting various patterns, it's easy to incurr in some calculation error.

Next post coming..
  • #32
  • Aug 17, 2010 4:01pm Aug 17, 2010 4:01pm
And now another example of a today trade:

http://warnsoft.altervista.org/imgs/11a.gif

I've tryied to put all the various points in this chart, the 1-2-3a (sell pattern, not yet broken), the 1-2-3b (1-2-3-2-3-2-3....), and the 1-2-3c that i've used to make my sell trade.

P.s.
Right now i'm in buy because of the 1-2-3b signal, however at this time (end of ny session) i really don't expect big movements =)
  • #33
  • Aug 18, 2010 6:19pm Aug 18, 2010 6:19pm
Ok, here the trades of today.

I've traded part of the london and ny sessions, traded using the 1-2-3 / a-b-c / m w pattern.

(supports and resistances)

http://warnsoft.altervista.org/imgs/...adesdetail.gif

As you can see, i've managed to take some pips during the day, but after the end of london session i've started loosing lucidity, and we see how much this is important.

You can have a good set of profitable rules, but the lucidity is still very important for make a good trading.

However, the only rules that really work are the ones that say that there is no rules. Knowning this, you can never be 100% sure about what's going on in the market, you can know HOW it move, but he decide WHERE to move and WHEN.
  • #34
  • Aug 18, 2010 9:11pm Aug 18, 2010 9:11pm
yeah rightly said the 1-2-3 pattern is the best pattern that existed right from the beginnning and will stay forever.I have been trading this pattern since a long time now , and that too profitably.

Tunera, many advanced principles can be built based on this pattern only. Do PM me so that we can discuss
Knock at the sky and feel the thunder
  • #35
  • Aug 19, 2010 1:50am Aug 19, 2010 1:50am
Quoting simply123
yeah rightly said the 1-2-3 pattern is the best pattern that existed right from the beginnning and will stay forever.I have been trading this pattern since a long time now , and that too profitably.

Tunera, many advanced principles can be built based on this pattern only. Do PM me so that we can discuss

Come on, let's public for us too, please.
Regardes!
x
  • #36
  • Aug 19, 2010 2:03am Aug 19, 2010 2:03am
I am little bit counfusion with this chart, until now number 3 was at the top or bottom, now is everywere. Can you help me to clear to myself, please.

Regardes!



Quoting tunera
Ok, here the trades of today.

I've traded part of the london and ny sessions, traded using the 1-2-3 / a-b-c /...
  • #37
  • Aug 19, 2010 8:37am Aug 19, 2010 8:37am
Quoting xman
I am little bit counfusion with this chart, until now number 3 was at the top or bottom, now is everywere. Can you help me to clear to myself, please.

Regardes!

Just that they're all listed over a long time period. Try opening up the chart posted and then your own chart and just try and scroll through each 1 2 3 so that you can see each one as it unfolds.
  • #38
  • Aug 19, 2010 1:28pm Aug 19, 2010 1:28pm
Quoting xman
I am little bit counfusion with this chart, until now number 3 was at the top or bottom, now is everywere. Can you help me to clear to myself, please.

Regardes!
Hello,
Thanks for your post, actually you are right the number 3 was at top or bottom, in my previous post chart it's still like that, but different 3 points refer to different tops and bottoms, i've put them on different colors to help the eyes on recognize the different patterns (actually on every moment there are many 1-2-3 patterns in the market, where maybe the point 2 is also a point 1 or 3 of a lower or higher fractal pattern).
Trade all those patterns is a suicide, that's why our work is to take only the best ones, with higher probability of a new big wave generated after the break of point2.

Below the trades i've taken today, just 2 trades:

first: usdjpy
http://warnsoft.altervista.org/imgs/15.gif
Here i've taken the trade before the break of point2 (the signal was good on 1min chart, but after taken it i've switched to 5 and 15m to see that the real breakout was still not happened), however the market structure was looking safe to me for a sell trade, so i've just waited the real break, and closed soon after for some profit. (Philly Fed Manufacturing Index news)


The second one: eurusd
http://warnsoft.altervista.org/imgs/16.gif
Here everything was looking perfect for a nice downmove, however i managed to close the trade for a little profit, i was already satisfied in terms of daily profit.

I hope all this can be of help to somebody, thank you very much for reading!
  • #39
  • Aug 19, 2010 1:33pm Aug 19, 2010 1:33pm
M and W is basically the same as 123 man.
  • #40
  • Aug 20, 2010 9:58am Aug 20, 2010 9:58am
Hello, here a trade i've taken today on eurusd.

Looks very similar to the usdjpy one of yesterday, not?

http://warnsoft.altervista.org/imgs/17d.gif

Good Weekend to everybody!
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