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How to use the 123 strategy effectively

  • #881
  • Jan 8, 2011 11:04am Jan 8, 2011 11:04am
as well as still a great system
  • #882
  • Edited 6:35pm Jan 8, 2011 11:08am | Edited 6:35pm
Quoting ChinaWombat
see post #831, basically a failure (with specific trading conditions) of an ABC continuation trade
Thank's... I also found THIS Regarding the 2B and THIS which may help explain the 123 trend reversal pattern.
  • #883
  • Jan 8, 2011 11:22pm Jan 8, 2011 11:22pm
Has anyone here have any live trading results they want to share of this system. if so what % return have you gained / lost over the last 4 weeks or longer?
  • #884
  • Jan 9, 2011 2:30am Jan 9, 2011 2:30am
Both are M-top/W-bottom. Have you seen http://www.bollingeronbollingerbands.com/patterns/ ?
A successful trading depends on knowing what to analyze.
  • #885
  • Jan 10, 2011 1:39am Jan 10, 2011 1:39am
audusd came to ntg, and now short conventional 123,

also looking for short gbpjpy on the back of a bigger harmonic pattern as well
Attached Image(s) (click to enlarge)
Click to Enlarge Name: jan1011 123 guppy.gif Size: 22 KB
Click to Enlarge Name: jan1011 123oz.gif Size: 22 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #886
  • Jan 10, 2011 2:31am Jan 10, 2011 2:31am
30m set-up




also gbpchf
Attached Image(s) (click to enlarge)
Click to Enlarge Name: jan1011 123 30m gbpusd.gif Size: 28 KB
Click to Enlarge Name: jan1011 123 30m gbpchf.gif Size: 24 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #887
  • Jan 10, 2011 3:11am Jan 10, 2011 3:11am
Looking at EJ Long

Attached Image (click to enlarge)
Click to Enlarge Name: ej 15min 100 jan 11.gif Size: 16 KB
  • #888
  • Jan 10, 2011 3:20am Jan 10, 2011 3:20am
Also looking at Short trade if Long not filled

Attached Image (click to enlarge)
Click to Enlarge Name: ej 15min 100 jan 11 short.gif Size: 15 KB
  • #889
  • Jan 10, 2011 3:49am Jan 10, 2011 3:49am
Attached Image (click to enlarge)
Click to Enlarge Name: gu 15 10 jan 11 short.gif Size: 16 KB
  • #890
  • Jan 10, 2011 5:34am Jan 10, 2011 5:34am
1st trade today: +3.2% ..i keep on closing manually when i get near my intended tp, losing valuable pips. i should really leave the room and not look
Attached Image (click to enlarge)
Click to Enlarge Name: g-u_5mn_long.png Size: 28 KB
  • #891
  • Jan 10, 2011 5:49am Jan 10, 2011 5:49am
Quoting bubola
1st trade today: +3.2% ..i keep on closing manually when i get near my intended tp, losing valuable pips. i should really leave the room and not look
it's all part of the learning curve until you get comfortable with the strategy... one day you'll just get up and walk away for a coffee and price will get to your target and then you can do it without thinking.. good start to your day
Attached Image(s) (click to enlarge)
Click to Enlarge Name: jan1011 123 5m eurusd.gif Size: 29 KB
Click to Enlarge Name: jan1011 123 5m eurjpy.gif Size: 25 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #892
  • Jan 10, 2011 5:53am Jan 10, 2011 5:53am
Quoting ChinaWombat
it's all part of the learning curve until you get comfortable with the strategy... one day you'll just get up and walk away for a coffee and price will get to your target and then you can do it without thinking.. good start to your day
thanks, cw..great e/u entry you got there
  • #893
  • Jan 10, 2011 6:43am Jan 10, 2011 6:43am
Quoting bubola
thanks, cw..great e/u entry you got there

some days you can get lucky...
Catching a falling knife, no, I'm just trading the Gartley!
  • #894
  • Jan 10, 2011 7:27am Jan 10, 2011 7:27am
tried this one, but i entered a little late (and exited a little early)...also, i'm not sure where to place a sl...below the bar that breaks back into the range?
Attached Image (click to enlarge)
Click to Enlarge Name: e-u_5mn.png Size: 26 KB
  • #895
  • Jan 10, 2011 8:05am Jan 10, 2011 8:05am
Quoting bubola
tried this one, but i entered a little late (and exited a little early)...also, i'm not sure where to place a sl...below the bar that breaks back into the range?
s/l goes below the lowest low as the underlying assumption is that all the weak longs have been cleaned out so it shouldn't go any lower once price has broken back up and closed above the breakdown bar...(hopefully)


long audusd now..small tp, and now looking at .9942 for tp
Catching a falling knife, no, I'm just trading the Gartley!
  • #896
  • Jan 10, 2011 8:15am Jan 10, 2011 8:15am
conventional 123 set-up however if a Vic123 set's up before the tp then may extend the tp target

gbpchf stopped out
Attached Image (click to enlarge)
Click to Enlarge Name: jan1011 123 15m usdcad.gif Size: 30 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #897
  • Jan 10, 2011 8:29am Jan 10, 2011 8:29am
head fake?
Attached Image (click to enlarge)
Click to Enlarge Name: jan1011 123 15m audusd.gif Size: 29 KB
Catching a falling knife, no, I'm just trading the Gartley!
  • #898
  • Jan 10, 2011 8:40am Jan 10, 2011 8:40am
TP at 150, SL at -50. First trade today out for +5%.
Attached Image
Today's zone = Tomorrow's opportunity!
  • #899
  • Jan 10, 2011 8:40am Jan 10, 2011 8:40am
Quoting ChinaWombat
head fake?
Can you take a 2B short set-up using a higher high even when at the bottom of a down move?
Today's zone = Tomorrow's opportunity!
  • #900
  • Jan 10, 2011 8:43am Jan 10, 2011 8:43am
Trade 2 that I took this morning... up 10%.
Attached Image
Today's zone = Tomorrow's opportunity!
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