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123PatternsV6 revisited

  • #301
  • Edited 11:39pm Dec 18, 2011 5:32pm | Edited 11:39pm
Quoting Zeb_Sailor
Why not choose point 2 earlier or later?
Welcome Zeb_Sailor, yes that is the question!

They are all valid 123's, so which one is the right one for drawing the fibo.

As you say, while the structure unfolds (live in real time) it is not easy. We should keep an open mind and keep updating our fibo when new price points appear. It becomes a bit of an 'art form' which neither I nor my maths based indicators have mastered yet.

First the ideal setup
1-2-3-break (all four steps visible)
NOW draw fibo from 1-2 and look for retrace to 50%
If a good reaction to 50% (no candles close below it)
then I have high confidence in reaching 210% and 380% targets
Observe reaction to first target
If price action breaks through easily (complete candles on the other side)
then it makes sense to hold on for second target

Second the non-ideal setup
1-2 (only two steps visible)
now draw fibo from 1-2 and look for retrace to 50%
(same sequence as above)

Use a ZigZag or fractals indicator (or 123PatternsV6) if you need help spotting the price points.

Hope that helps.

Robdee
  • #302
  • Dec 18, 2011 6:15pm Dec 18, 2011 6:15pm
Quoting robdee
Welcome Zeb_Sailor, yes that is the question!

They are all valid 123's, so which one is the right one for drawing the fibo.

As you say, while the structure unfolds (live in real time) it is not easy. We should keep an open mind and keep updating our fibo when new price points appear. It becomes a bit of an 'art form' which neither I nor my maths based indicators have mastered yet.

Hope that helps.

Robdee
Thanks for the answer Robdee,

In other words I need to take more "artclasses" to get the right feeling/touch
( or a crystal ball ) ;p

Untill then IŽll stick to the 'ideal setup' and simultaneously try to improve my skills in "painting"

Thank you for sharing your knowledge with us!
IŽll keep watching this thread.
  • #303
  • Dec 19, 2011 7:01pm Dec 19, 2011 7:01pm
EURUSD
Asia had a bullish run then London opened near 50% fibo.
7:50 Buy signal (near price point 3) failed to reach first target.
Resistance found inside previous day sell zone.
14:00 Sell signal (near price point 3) eventually broke through first bearish target.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-2011-12-19-m5-v7beta.gif Size: 27 KB


As you can see price is just chopping sideways, no trend visible.
  • #304
  • Dec 20, 2011 12:56am Dec 20, 2011 12:56am
hi
why in my chart indi dont show buy signal candle
Attached Image (click to enlarge)
Click to Enlarge Name: indi.gif Size: 15 KB
  • #305
  • Dec 20, 2011 1:39am Dec 20, 2011 1:39am
Quoting davidtrader
why in my chart indi dont show buy signal candle
Your broker is sending you a little bit different price and volume data compared to my broker. I use IBFX demo for my charts. This is the best MT4 data feed in my opinion. See my previous post on this topic post #2078.
  • #306
  • Dec 20, 2011 5:28am Dec 20, 2011 5:28am
hi, thanks for nice notic rodbee
in this pic price break fibo level 100 but dont retrace to buy zone or fibo level 50 and there for we dont inter(Option 1 (more safe)) to trade but by option 2 and 3 of entry we could trade for this nice move
Attached Image (click to enlarge)
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  • #307
  • Dec 20, 2011 11:39am Dec 20, 2011 11:39am
Thought I would share this chart.Drew blue and red trend lines basically through the centre of the green and mag dots from 123v7 version 1 indy
Then looked for 123 breakout of the trend.Picked up both changes of the trend
Attached Image (click to enlarge)
Click to Enlarge Name: aud 5 min new version 20 dec 2011.jpg Size: 146 KB
  • #308
  • Dec 21, 2011 2:13am Dec 21, 2011 2:13am
Has the beta 7.1 been removed ??
  • #309
  • Dec 21, 2011 2:23am Dec 21, 2011 2:23am
hi as far as i know it is the one on post 202
  • #310
  • Dec 21, 2011 8:12am Dec 21, 2011 8:12am
Attached Image (click to enlarge)
Click to Enlarge Name: pic1.gif Size: 17 KB
BROKENGLISH
  • #311
  • Dec 21, 2011 11:57am Dec 21, 2011 11:57am
EURUSD
Bulls continued a push into overbought territory.
Reactions to targets suggest profit taking + bearish interest.
I'm not drawing conclusions from what I see as essentially low volume end of year holiday trading.
In other words 'a mess'.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-2011-12-21-m5-v7beta.gif Size: 13 KB


I am taking note that the first V7 signal of the day (any day) is not reliable.
  • #312
  • Dec 21, 2011 12:05pm Dec 21, 2011 12:05pm
hi every body
thanks alot rodbee for nice thread
zigzag depth in 123 v7(2) are 12 ?
  • #313
  • Dec 21, 2011 12:38pm Dec 21, 2011 12:38pm
Quoting davidtrader
zigzag depth in 123 v7(2) are 12 ?
Hello davidtrader

V7 beta1 uses zigzag.
V7 beta2 uses no zigzag.
I wrote my own fractal code instead of zigzag.
If you want to see the price points set ShowDots=true.
  • #314
  • Dec 22, 2011 5:12am Dec 22, 2011 5:12am
Quoting robdee
Hello davidtrader

V7 beta1 uses zigzag.
V7 beta2 uses no zigzag.
I wrote my own fractal code instead of zigzag.
If you want to see the price points set ShowDots=true.
---------------------------

if we filter the fractal with type of candel does it add value ????

candel - & blue dot

candel + & red dot

seasons greetings to all !
Attached Image (click to enlarge)
Click to Enlarge Name: pic2.gif Size: 19 KB
BROKENGLISH
  • #315
  • Dec 22, 2011 5:22am Dec 22, 2011 5:22am
the 50 pct level not ok at 100 pct
Attached Image (click to enlarge)
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BROKENGLISH
  • #316
  • Dec 24, 2011 12:18am Dec 24, 2011 12:18am
I'm still enjoying the multiple entries that v6 gives. With 2 shooting stars on daily at what appears to be a sell zone I would have been focused on sells at break of 2 point or earlier if possible.

Rob is it time to set up ea's that can be demo'd?
Attached Image(s) (click to enlarge)
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  • #317
  • Dec 26, 2011 4:50am Dec 26, 2011 4:50am
hi my friend thanks for the great thread can you brief the thread on how to use this indicator , i tried to read all the thread posts but i couldn't get it, i am talking about the last version 7
thank you
  • #318
  • Dec 26, 2011 6:44am Dec 26, 2011 6:44am
Quoting Yonited
hi my friend thanks for the great thread can you brief the thread on how to use this indicator , i tried to read all the thread posts but i couldn't get it, i am talking about the last version 7
thank you
hello and welcome to the thread.

as i understand it this is how to use the version 7 of the indicator, and the alarm.

put the following on a chart:
123v7
123v7alarm
zigzag set to depth 1

now, whenever you get the alarm (the popup and/or the blue/red candle) you take a position if it is in conjunction with the current and ongoing trend, as per taking into consideration how to see the swingpoints and direction of 123s.


i hope this helps somewhat.
  • #319
  • Dec 26, 2011 6:44pm Dec 26, 2011 6:44pm
thank you man that would help and we know the direction of the trend by looking at MAs crossover when ever 12 ma crossover 144 ma ... right ?
  • #320
  • Dec 27, 2011 1:56am Dec 27, 2011 1:56am
I am a little bit confused here.
From robdee's live performance in myfxbook, it looks like this is not a successful trading system.

Why still got so high rate? Is there anything I missed?
Attached Image (click to enlarge)
Click to Enlarge Name: performance.jpg Size: 77 KB
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