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  • #2,341
  • Mar 29, 2011 10:09am Mar 29, 2011 10:09am
Quoting diamonddbw
I missed this one. Any body get it? Any body Like it?

Is it a valid 123?
yes its a valid 123. I didn't see it also.

I use this indi it helps me spot them.
Attached File(s)
File Type: mq4 show123.mq4   17 KB | 695 downloads
Could it be Man is trying to be something without knowing they're complete?
  • #2,342
  • Mar 29, 2011 10:12am Mar 29, 2011 10:12am
Quoting diamonddbw
I missed this one. Any body get it? Any body Like it?

Is it a valid 123?
I took it on the break of 2 but don't think it followed the rules. The high of 3 wasn't within 2.5 pips of the high of 2 . Plus news was coming.Correct me guys if I wrong.
  • #2,343
  • Mar 29, 2011 10:15am Mar 29, 2011 10:15am
Quoting Toothman
I took it on the break of 2 but don't think it followed the rules. The trigger candle(you have it indicated with arrow) was more than 2.5 pips above the MA and it was right before news. Correct me guys if I wrong.
The Set-up bar needs to be within 2.4 pips of the sma. Not the entry bar. On a normal pullback set-up.

But with the 123 it is the set-up bar that needs to have a high or low appropriately within 2.4 pips point #2 or take it out completely.

Not sure if both apply to a 123 or not.
  • #2,344
  • Mar 29, 2011 10:17am Mar 29, 2011 10:17am
So what are the thoughts on the current situation with the EU? Yes, divergence 123 about 1.5 hours ago. Pull back to some small divergence about 40 minutes ago. So are we continuing back down or after todays up and down like a rollercoaster are we waiting?

Thoughts?
  • #2,345
  • Mar 29, 2011 10:20am Mar 29, 2011 10:20am
For those who have downloaded my Flag Trade Calculator from my previous post #2334 please download it again as I corrected a little mistake on the max SL. Thank you and please accept my apologies.
  • #2,346
  • Mar 29, 2011 10:23am Mar 29, 2011 10:23am
While I was editing my post, RC got it right. High of 3 wasn't within 2.5 pips of the high of 2.
  • #2,347
  • Mar 29, 2011 10:24am Mar 29, 2011 10:24am
Quoting Rcwso
The Set-up bar needs to be within 2.4 pips of the sma. Not the entry bar.
Now I'm totally confused. To quote Div...
"When divergence forms, I wait for PA to confirm with a 123 pattern and then a momentum candle crossing 10 sma and cci closed below or above 50 and candle is within 2.4 of point 2 for the setup bar."
  • #2,348
  • Mar 29, 2011 10:25am Mar 29, 2011 10:25am
Quoting Numb3rs
yes its a valid 123. I didn't see it also.

I use this indi it helps me spot them.
++++++++++++++++++++++++++++++++

Nice Indie. Thanks
  • #2,349
  • Mar 29, 2011 10:27am Mar 29, 2011 10:27am
Quoting Toothman
While I was editing my post, RC got it right. High of 3 wasn't within 2.5 pips of the high of 2.
It is not the high of 3 that needs to be with anything of point 2. Typically it is actually much lower in an up move where #2 is the high point. it is the set-up bar and that was within 2.4 pips. I still believe that this was a valid set-up.
  • #2,350
  • Mar 29, 2011 10:28am Mar 29, 2011 10:28am
b e
  • #2,351
  • Mar 29, 2011 10:32am Mar 29, 2011 10:32am
Quoting Rcwso
The Set-up bar needs to be within 2.4 pips of the sma. Not the entry bar. On a normal pullback set-up.

But with the 123 it is the set-up bar that needs to have a high or low appropriately within 2.4 pips point #2 or take it out completely.

Not sure if both apply to a 123 or not.
++++++++++++++++++++++++++++++++

Don't think 2.4 makes a difference on 123's, unless Div has guidelines for this. The only Div stipulation I recall is he likes to see divergence.

Most 123 explanations I've read, put the entry near or past the break of #2.
  • #2,352
  • Mar 29, 2011 10:38am Mar 29, 2011 10:38am
Quoting Divergence
b e
++++++++++++++++++++++++++++++++

Looks like that one sucked you in by only 1/2 pip.
  • #2,353
  • Mar 29, 2011 10:42am Mar 29, 2011 10:42am
I'm cornfused. I know a regular set up candle has to be within 2.5 pips of the MA. But I thought 3 had to be within 2.5 pips of 2 in a 123 setup. If 3 isn't close to or past 2 doesn't it disqualify it as a valid 123? Most traders don't consider a 123 valid until 3 breaks 2. thanks
  • #2,354
  • Mar 29, 2011 10:44am Mar 29, 2011 10:44am
i will take 123 s without dub at end of trend if after it forms the setup bar is a mo bar 2.4ops from 2 point and cci 50 + and above 10 sma and its within 2.4 of sma
  • #2,355
  • Mar 29, 2011 10:49am Mar 29, 2011 10:49am
Quoting Divergence
i will take 123 s without dub at end of trend if after it forms the setup bar is a mo bar 2.4ops from 2 point and cci 50 + and above 10 sma and its within 2.4 of sma
Couldn't understand last post. What is dub and what is a mo bar?
  • #2,356
  • Mar 29, 2011 10:53am Mar 29, 2011 10:53am
Quoting Divergence
i will take 123 s without dub at end of trend if after it forms the setup bar is a mo bar 2.4ops from 2 point and cci 50 + and above 10 sma and its within 2.4 of sma
++++++++++++++++++++++++++++++++

So, Div, in this case (post 2341) this is not a valid trade?
  • #2,357
  • Mar 29, 2011 10:54am Mar 29, 2011 10:54am
divergence and momentum
  • #2,358
  • Mar 29, 2011 10:57am Mar 29, 2011 10:57am
123 correct setup bar to far away
  • #2,359
  • Mar 29, 2011 11:51am Mar 29, 2011 11:51am
those who traded london today reaped the benefits nice setups
  • #2,360
  • Mar 29, 2011 12:15pm Mar 29, 2011 12:15pm
Hi Divergence

please correct my understanding of your statement if i am wrong

You will take 123 setups WITHOUT divergence at the end of a trend if

a) The high/low of the setup bar is within 2.4 pips of the Point 2 bar
b) The CCI is + or - 50
c) The high/low of the setup bar is within 2.4 pips of the SMA

What are the differences if there is divergence?

Regards
John
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