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123 Method by lgtj

  • #81
  • Sep 28, 2010 12:01pm Sep 28, 2010 12:01pm
Quoting Kasapreko
Im currently buying gbpjpy live @ 132.54 SL 129.05 TP 135.03 (its a 4hr entry) Let me know if its a good trade Igtj
Post a 4H and daily chart for me because I'm at work.
  • #82
  • Sep 28, 2010 12:45pm Sep 28, 2010 12:45pm
Quoting lgtj
1. The previous closed candle.
2. The macd. I use the 21sma to show momentum and the 200ema for overall trend direction and s&r
3. I look at the weekly chart to see if there is a retracement in place. If there isn't, then I monitor the daily time frame. If there is a retracement on the weekly, then I draw my fibs to points 1 and 2 on the weekly and drop down to the daily to wait for an entry. I wouldn't anticipate an opposite trend and wait for a failure.
Thanks for the explanation...follwing your live example and your explanation, i think i perfectly understand your strategy now. i'll be watching the GU weekly with you to take the long entry on the break of point 2..
God's Love For You Is Sure Never You Doubt It
  • #83
  • Sep 28, 2010 1:01pm Sep 28, 2010 1:01pm
Quoting D liberators
Thanks for the explanation...follwing your live example and your explanation, i think i perfectly understand your strategy now. i'll be watching the GU weekly with you to take the long entry on the break of point 2..
You're welcome.
  • #84
  • Sep 28, 2010 4:13pm Sep 28, 2010 4:13pm
Quoting lgtj
Post a 4H and daily chart for me because I'm at work.
pls dont be vexed,but if you can explain how I can go about saving an image from my MT4 and uploading it here. GOD BLESS
  • #85
  • Sep 28, 2010 4:26pm Sep 28, 2010 4:26pm
Quoting lgtj
Post a 4H and daily chart for me because I'm at work.
Let me try and post charts for this trade....let's test if i've truly gotten a grasp of this strategy...lol

Been a 4hr entry, focus starts on the weekly tf

chart 1.... weekly macd is up

chart 2.... daily macd is up..[as at this time, 4hr macd was up]

chart 3... there was 123 on daily, so i pulled fib on 1-2

chart 4... 4hr showing the fib on daily, and macd was down[as indicated
with the horizontal line]
Waited till the macd pulled back up and entered long [red
arrowed candle].

Am i right?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj wkly backtest.gif Size: 65 KB
Click to Enlarge Name: gj dailly backtest.gif Size: 69 KB
Click to Enlarge Name: gj dailly backtest2.gif Size: 72 KB
Click to Enlarge Name: gj 4hr backtest2.gif Size: 67 KB
God's Love For You Is Sure Never You Doubt It
  • #86
  • Sep 28, 2010 4:35pm Sep 28, 2010 4:35pm
Quoting Kasapreko
pls dont be vexed,but if you can explain how I can go about saving an image from my MT4 and uploading it here. GOD BLESS
Hey!!!! is that T-shirt on you for real?....I mean ''the coat of arms thing''?

save your image on your pc...right click on your chart and you'll see 'save
as picture''..click on this and save the
chart.. Note the location to whch you're
saving your file.

Loading on FF...... When you want to post a reply, if you scroll dwn a bit,
you'll see a 'manage attachment'' tab....click on this,
and upload your saved file on your pc to the poped up
window.....close the window when chart has finished
uploading...Post your reply and you're done..

Hope this helps
God's Love For You Is Sure Never You Doubt It
  • #87
  • Sep 28, 2010 4:58pm Sep 28, 2010 4:58pm
Quoting D liberators
Thanks for the explanation...follwing your live example and your explanation, i think i perfectly understand your strategy now. i'll be watching the GU weekly with you to take the long entry on the break of point 2..
hey! Im in on that trade at 132.54,so it seems like we interpreted it the same way..hope it keeps on going up to my profit target to give me confidence in the method
  • #88
  • Sep 28, 2010 5:00pm Sep 28, 2010 5:00pm
Quoting D liberators
Let me try and post charts for this trade....let's test if i've truly gotten a grasp of this strategy...lol

Been a 4hr entry, focus starts on the weekly tf

chart 1.... weekly macd is up

chart 2.... daily...
You got it!
  • #89
  • Sep 28, 2010 5:20pm Sep 28, 2010 5:20pm
Hello everyone. I just want to show you all the results of the audusd daily chart that I posted in post #10. The target was reached today for a total of 1276 pips! This is a good example of how powerful this method is when you trade with the trend on the higher time frames! Sweeeeeeet!
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 18 KB
  • #90
  • Sep 28, 2010 5:26pm Sep 28, 2010 5:26pm
Quoting D liberators
Hey!!!! is that T-shirt on you for real?....I mean ''the coat of arms thing''?

save your image on your pc...right click on your chart and you'll see 'save...
I just tried posting it
  • #91
  • Sep 28, 2010 5:50pm Sep 28, 2010 5:50pm
Quoting D liberators
Hey!!!! is that T-shirt on you for real?....I mean ''the coat of arms thing''?

save your image on your pc...right click on your chart and you'll see 'save
as picture''..click on this and save the
chart.. Note the location to whch you're
saving your file.

Loading on FF...... When you want to post a reply, if you scroll dwn a bit,
you'll see a 'manage attachment'' tab....click on this,
and upload your saved file on your pc to the poped up
window.....close the window when chart has finished
uploading...Post your reply and you're done..

Hope...
Trying one more time
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy14402.gif Size: 67 KB
  • #92
  • Sep 28, 2010 7:52pm Sep 28, 2010 7:52pm
Quoting Kasapreko
Trying one more time
Now you have it......
God's Love For You Is Sure Never You Doubt It
  • #93
  • Sep 28, 2010 8:56pm Sep 28, 2010 8:56pm
Quoting lgtj
hello everyone. I just want to show you all the results of the audusd daily chart that i posted in post #10. The target was reached today for a total of 1276 pips! This is a good example of how powerful this method is when you trade with the trend on the higher time frames! Sweeeeeeet!:d
Attachment
good job......1276 pips from a pair in 1 month.....thats a big achievement...well done brother...


What do you think of gbpjpy, i'm waiting for macd on 4 hr to go long [1st entry]
God's Love For You Is Sure Never You Doubt It
  • #94
  • Sep 28, 2010 9:09pm Sep 28, 2010 9:09pm
Quoting D liberators
good job......1276 pips from a pair in 1 month.....thats a big achievement...well done brother...


What do you think of gbpjpy, i'm waiting for macd on 4 hr to go long [1st entry]
I currently have 3 positions open on gbpjpy, and I'm a little nervous. I'm still waiting for price action to go north.
  • #95
  • Sep 29, 2010 1:18am Sep 29, 2010 1:18am
Hi Guys,

What about the E/U? The weekly has a beautiful 123 and monthly also has a bullish macd. I believe it can be entered on the Daily.
Am I correct?

Herty
Attached Image (click to enlarge)
Click to Enlarge Name: e u.gif Size: 41 KB
  • #96
  • Sep 29, 2010 1:24am Sep 29, 2010 1:24am
Further to the above, the red dotted line is the presumed TP line. My question is what about all that resistance on the way up, do we ignore it? or be ready for a partial bailout?

Herty
  • #97
  • Sep 29, 2010 1:39am Sep 29, 2010 1:39am
Quoting herty
Hi Guys,

What about the E/U? The weekly has a beautiful 123 and monthly also has a bullish macd. I believe it can be entered on the Daily.
Am I correct?

Herty
Herty your chart isnt clear just like mine,but what I see on eurusd monthly chart is a bearish MACD,so the first condition for trend isnt met,so no trade.
Second;the 123 pattern has been broken and price has shot up,so even if MACD was bullish on monthly chart,which isnt,I still would pass unless I get a nice retracement to enter based on the second entry type
  • #98
  • Sep 29, 2010 1:57am Sep 29, 2010 1:57am
Quoting D liberators
good job......1276 pips from a pair in 1 month.....thats a big achievement...well done brother...


What do you think of gbpjpy, i'm waiting for macd on 4 hr to go long [1st entry]
I entered that trade yesterday cause Ive seen MACD go up on the 4hr chart,but price has now retraced,so to me its even a better entry...just wish price will go up,up,up cause Im testing this system on my live account
  • #99
  • Sep 29, 2010 1:59am Sep 29, 2010 1:59am
Hi Kasapreko,

You're right about the monthly. But I remember having seen it as an uptrend!? funny LOL. (Trade what you see not what you want)

If you double click on the chart you get an enlarged view of the chart and another double click an even larger view.

Herty
  • #100
  • Sep 29, 2010 4:46am Sep 29, 2010 4:46am
Quoting herty
Hi Guys,

What about the E/U? The weekly has a beautiful 123 and monthly also has a bullish macd. I believe it can be entered on the Daily.
Am I correct?

Herty
Hello herty and welcome. Yes, you're correct, but you've already missed the initial entries. Now you would have to wait for add-on entries to develop if you wanted to get in the trend.
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