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How to use the 123 strategy effectively

  • #1,181
  • Feb 8, 2011 4:45am Feb 8, 2011 4:45am
Quoting Olarion1975
Mine is still valid...
That retrace is a little too deep for my liking. Also, the momentum bars are definitely bullish...
  • #1,182
  • Feb 8, 2011 7:52am Feb 8, 2011 7:52am
EU short just triggered...
Attached Image (click to enlarge)
Click to Enlarge Name: eu_m5_short.gif Size: 16 KB
  • #1,183
  • Feb 8, 2011 9:57am Feb 8, 2011 9:57am
Quoting Olarion1975
EU short just triggered...
SL hit -40 pips...
  • #1,184
  • Feb 8, 2011 10:00am Feb 8, 2011 10:00am
Quoting Olarion1975
SL hit -40 pips...

It was a valid set-up, it was just a little close to NY open...
  • #1,185
  • Feb 8, 2011 10:05am Feb 8, 2011 10:05am
Quoting Olarion1975
EU short just triggered...

can you please tell me why ur point 2 is at that lower low and not previous lower high.?
MY OPINION NOT FINANCIAL ADVISE
  • #1,186
  • Feb 8, 2011 10:08am Feb 8, 2011 10:08am
Forgot to add chart!
Attached Image
  • #1,187
  • Feb 8, 2011 10:09am Feb 8, 2011 10:09am
is you trade gu on 5min today u should be all win cus we had 3 123 set up and the last one is the current pa which is 123 low..
MY OPINION NOT FINANCIAL ADVISE
  • #1,188
  • Feb 8, 2011 10:32am Feb 8, 2011 10:32am
do you guys know what Traders trick Entry is?
MY OPINION NOT FINANCIAL ADVISE
  • #1,189
  • Feb 8, 2011 11:16am Feb 8, 2011 11:16am
Quoting donfriday
do you guys know what Traders trick Entry is?
there are a couple, which one do you want? one is described in the pdf in the atachments, one is from joe ross and entry into ross hook. cannot use on 1-2-3 so do a search and you'll probably end up with his trading manual pdf like here http://www.trading-naked.com/library/Law_of_Charts.pdf he says that you can use it on 123's at market tops and bottoms and 50% trend reversals however if you knew what the market top or bottom was then you wouldn't need to use the 123..
Catching a falling knife, no, I'm just trading the Gartley!
  • #1,190
  • Feb 8, 2011 11:32am Feb 8, 2011 11:32am
Quoting ChinaWombat
there are a couple, which one do you want? one is described in the pdf in the atachments, one is from joe ross and entry into ross hook. cannot use on 1-2-3 so do a search and you'll probably end up with his trading manual pdf like here http://www.trading-naked.com/library/Law_of_Charts.pdf he says that you can use it on 123's at market tops and bottoms and 50% trend reversals however if you knew what the market top or bottom was then you wouldn't need to use the 123..

thanks but i have been using law of chart for 2yrs and familiar with it..I already have the pdf file of TTE and Law of charts.
MY OPINION NOT FINANCIAL ADVISE
  • #1,191
  • Feb 8, 2011 12:08pm Feb 8, 2011 12:08pm
Quoting donfriday
can you please tell me why ur point 2 is at that lower low and not previous lower high.?
You mean not "lower high", but "higher low"...

It's because there would be only one candle betwenn this previous higher low (2) and the next lower high (3). According to the Paulus' rules there should be at least two candles inbetween.
  • #1,192
  • Feb 8, 2011 12:24pm Feb 8, 2011 12:24pm
Quoting Olarion1975
You mean not "lower high", but "higher low"...

It's because there would be only one candle betwenn this previous higher low (2) and the next lower high (3). According to the Paulus' rules there should be at least two candles inbetween.

123 is a reversal and not bias u take it any where u find it ..here is ur chart and how u missed the trades.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2-7-2011 5-49-26 PM.png Size: 46 KB
Click to Enlarge Name: 123eus.png Size: 44 KB
MY OPINION NOT FINANCIAL ADVISE
  • #1,193
  • Feb 8, 2011 1:11pm Feb 8, 2011 1:11pm
Quoting donfriday
123 is a reversal and not bias u take it any where u find it ..here is ur chart and how u missed the trades.
Ah, ok. Thanks for the explanation and your tip.

You are right in your first picture, I missed that.

But in the second picture there is only 1 candle between point 2 and 3, therefore I did not take it.

Do you personally count the 1-2-3 even with only 1 candle between the points?
  • #1,194
  • Feb 8, 2011 3:20pm Feb 8, 2011 3:20pm
Quoting Olarion1975
Ah, ok. Thanks for the explanation and your tip.

You are right in your first picture, I missed that.

But in the second picture there is only 1 candle between point 2 and 3, therefore I did not take it.

Do you personally count the 1-2-3 even with only 1 candle between the points?
i count point 1 after 2 candle refuse to make new low or new high that form a valid fractal..
MY OPINION NOT FINANCIAL ADVISE
  • #1,195
  • Feb 8, 2011 5:59pm Feb 8, 2011 5:59pm
Quoting Paulus
having good success with this system I must admit here is my latest daily signal up 470 pips

Then we have the 1hour which im still looking to long but no valid 123 count yet..all I keep doing is moving the 1 count down

And the 5min with 1 signal today so far

P
please do me a favor Paulus. When your chart says 14:00 under a candle, what time is that EST (NY/Boston) non Daylight Savings? I cant make my charts go back far enough to recreate yours.
If I know, then I can use the time difference to match my charts.
I know you trade between London open and NY close I think.

From what I can figure out, I think your charts are NY (EST)+6 hrs so the 14:00 on your chart would be 8pm NY?
  • #1,196
  • Feb 8, 2011 7:26pm Feb 8, 2011 7:26pm
Quoting donfriday
thanks but i have been using law of chart for 2yrs and familiar with it..I already have the pdf file of TTE and Law of charts.
why bother asking then?
Catching a falling knife, no, I'm just trading the Gartley!
  • #1,197
  • Feb 8, 2011 8:23pm Feb 8, 2011 8:23pm
simple trades, i also trade in the EST. I know that 3 AM is 8 AM in London, if that helps.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #1,198
  • Feb 8, 2011 9:32pm Feb 8, 2011 9:32pm
Quoting capstone
simple trades, i also trade in the EST. I know that 3 AM is 8 AM in London, if that helps.
3 am here is 9am London, but its paulus' charts i want to match. I know 3 am EST is the london open, but i want to know what time is on his chart when my chart says 9:00 broker time which is 3 am EST. then i can compare his chart times to my chart times which i can translate to my own EST timezone.
  • #1,199
  • Feb 9, 2011 12:10am Feb 9, 2011 12:10am
Quoting ChinaWombat
why bother asking then?
i dont think english is ur mother language...i was not in need i was asking if anyone know what it is ...
MY OPINION NOT FINANCIAL ADVISE
  • #1,200
  • Feb 9, 2011 12:51am Feb 9, 2011 12:51am
Quoting donfriday
i dont think english is ur mother language...i was not in need i was asking if anyone know what it is ...
my english is fine... you asked a question, i politely answered it, if you already know the answer then don't ask..

what was the point of your post? the tt was already mentioned earlier in this thread...
Catching a falling knife, no, I'm just trading the Gartley!
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