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123PatternsV6 revisited

  • #461
  • Jun 24, 2013 9:36am Jun 24, 2013 9:36am
Here are the 4 trades. Well 5 if you include the EU as well. Told you, I am not with it today
Attached Image (click to enlarge)
Click to Enlarge Name: Here.png Size: 42 KB
Cut your Losers short and let your Winners run.
  • #462
  • Jun 24, 2013 12:33pm Jun 24, 2013 12:33pm
Hi

I try the first time today. I was successful.
Trying gold. Thanks a lot. Special thanks dee50's.
I read all the pdf.
It helps a lot.
  • #463
  • Edited 11:31am Jun 25, 2013 11:16am | Edited 11:31am
Hi,
thank you to all great work...but I must say taht I am not comfortable with 123 by swing....I prefer 123 by bars as in Ross'books.
I explain better: I use only bars to see 123 ...for example 2 bars up and 1 down forming 123....or 3 bars up and 1 down ....or 4 bars up and 1 down .....or 5 bars up and 1 down...stop.....I don's use 123 formed by more than 5 bars.
Please see images:
Attached Images
  • #464
  • Edited 11:31am Jun 25, 2013 11:17am | Edited 11:31am
Attached Image
Attached Image
  • #465
  • Jun 25, 2013 11:21am Jun 25, 2013 11:21am
I use fibo external retracement for target...138.2 and 161.8
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  • #466
  • Jun 25, 2013 11:27am Jun 25, 2013 11:27am
I create all sort of combinations of bars...such as 1 bar up..than inside...than up and than 1 bar retracement.....or 1 bar up-1 bar up-inside-1 bar up and 1 bar retracement...than 123 with outside bar forming point 2 and 3 at the same time ......and so on....I worked a lotof days and nights...but I had my goal!
example of 123 with inside bar:
Attached Image
  • #467
  • Jun 25, 2013 11:30am Jun 25, 2013 11:30am
I created all these formulas in metastock eod and real time...so if you want I can suggest you to create these formulas (I know nothing about mt4 language).
Tell me if you are interested with.........
best regards
  • #468
  • Jun 26, 2013 6:26am Jun 26, 2013 6:26am
EU + 50 pips. My favorite 123. A signal from a S&R level in this instance the 200 EMA, then lots of confirmation all the way down.

The smaller text you can see is another Indi that shows 123s and Ross Hooks, I am in the process of trying it out in conjunction with the 123pattern Indi.

searching thru other threads on the 123 pattern, I am astounded by the number of "Traders"?? who say the 123 swing pattern does not work or they can not make money with this pattern. I would suggest that they first learn what the pattern is all about and what the psychology is behind it.
Attached Image (click to enlarge)
Click to Enlarge Name: EU +50 26 06.png Size: 36 KB
Cut your Losers short and let your Winners run.
  • #469
  • Jun 26, 2013 9:25am Jun 26, 2013 9:25am
Yes,you are right....123 (by swing or by bars) is the firt step for inversion....you can read it as wave 1 -2 and 3 (breackout of top of wave 1) or ABC (breackout of top of wave A).
  • #470
  • Jun 26, 2013 12:16pm Jun 26, 2013 12:16pm
Quoting dee50
EU + 50 pips. My favorite 123. A signal from a S&R level in this instance the 200 EMA, then lots of confirmation all the way down. The smaller text you can see is another Indi that shows 123s and Ross Hooks, I am in the process of trying it out in conjunction with the 123pattern Indi. searching thru other threads on the 123 pattern, I am astounded by the number of "Traders"?? who say the 123 swing pattern does not work or they can not make money with this pattern. I would suggest that they first learn what the pattern is all about and what the...
Dee, are you using s&r to trigger all your trades? I think most traders cant make 123 work because they lose when the market chops.. I think 123 is trend strategy imo..
  • #471
  • Jun 27, 2013 12:14am Jun 27, 2013 12:14am
Good example of multitimeframe:
chart 4h....setup 9 demark
chart 1h 123 low by bars
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 36 KB
  • #472
  • Jun 27, 2013 8:14am Jun 27, 2013 8:14am
Quoting carbonmimeti
I created all these formulas in metastock eod and real time...so if you want I can suggest you to create these formulas (I know nothing about mt4 language). Tell me if you are interested with......... best regards
If you started your own thread about bar counts or Demark you might attract the attention of the coders here on FF and you may also get more interest from other traders depending on what you called the thread, rather than posting in a thread called "123Pattern V6 Revisited".
Cut your Losers short and let your Winners run.
  • #473
  • Jun 27, 2013 8:26am Jun 27, 2013 8:26am
Quoting focusonmoney
{quote} Dee, are you using s&r to trigger all your trades? I think most traders cant make 123 work because they lose when the market chops.. I think 123 is trend strategy imo..
I think most traders can´t make 123 work because they do not know how to read PA and because they treat the pattern like a mechanical entry system, which it is not. Do you know lots of traders who win when the market chops?
Cut your Losers short and let your Winners run.
  • #474
  • Jun 27, 2013 8:30am Jun 27, 2013 8:30am
Reading thru an older 123 thread I came across this PDF. Slightly different approach to entries, thought you all might find it interesting.
Attached File(s)
File Type: pdf 1-2-3 Trend Change Pattern.pdf   139 KB | 3,389 downloads
Cut your Losers short and let your Winners run.
  • #475
  • Jun 27, 2013 8:39am Jun 27, 2013 8:39am
Quoting focusonmoney
{quote} Dee, are you using s&r to trigger all your trades? I think most traders cant make 123 work because they lose when the market chops.. I think 123 is trend strategy imo..

Sorry I did not answer your question. Yes most of the trades are off S&R, that is the true nature of 123s and because they are off S&Rs you can usually bank pips.
Cut your Losers short and let your Winners run.
  • #476
  • Jun 27, 2013 9:18am Jun 27, 2013 9:18am
GU (15Min) support becoming resistance (SbR) switch earlier, amazing how price 'switches' to the pip sometimes like this one! I was late to the entry off an engulf.
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  • #477
  • Edited 6:27am Jun 28, 2013 5:34am | Edited 6:27am
Quoting dee50
Reading thru an older 123 thread I came across this PDF. Slightly different approach to entries, thought you all might find it interesting. {image}
Thanks dee50, very interesting. Could be a similar setup on EU (15M) forming now in fact...There's also 61.8/R1 confluence around potential point '3'.

Edit: setup now void. '1' exceeded.
Attached Image (click to enlarge)
Click to Enlarge Name: 28Jun(EU1).PNG Size: 49 KB
  • #478
  • Edited 7:01am Jun 28, 2013 6:49am | Edited 7:01am
Quoting sidefx
{quote} Thanks dee50, very interesting. Could be a similar setup on EU (15M) forming now in fact...There's also 61.8/R1 confluence around potential point '3'. Edit: setup now void. '1' exceeded. {image}
I agree it looked like it could have set up for a 123, especially off a Double Top with Regular Divergence, but there was below---

Trend Line support
Hidden Divergence

and now Bearish Divergence. I would prefer to see the Stochs Divergence coming from OB/OS to below/above the 68 or the 32. This would make the divergence much more convincing.

Just above current price is a previous Minor S&R

With this sort of PA I would not expect to be trading a 123, I would be looking to trade a Range or Channel. However as it is still only a 35 pip Range i would not consider an entry for a 10 - 15 pip gain as worth the risk.
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Click to Enlarge Name: Reasons not trade.png Size: 44 KB
Cut your Losers short and let your Winners run.
  • #479
  • Jun 28, 2013 7:14am Jun 28, 2013 7:14am
This should help with Regular and Hidden Divergence.
Attached File(s)
File Type: pdf Divergence Hidden Divergence Fibos.pdf   487 KB | 623 downloads
Cut your Losers short and let your Winners run.
  • #480
  • Jun 28, 2013 7:30am Jun 28, 2013 7:30am
Quoting dee50
{quote} I agree it looked like it could have set up for a 123, especially off a Double Top with Regular Divergence, but there was below--- Trend Line support Hidden Divergence and now Bearish Divergence. I would prefer to see the Stochs Divergence coming from OB/OS to below/above the 68 or the 32. This would make the divergence much more convincing. Just above current price is a previous Minor S&R With this sort of PA I would not expect to be trading a 123, I would be looking to trade a Range or Channel. However as it is still only a 35 pip Range...
Great analysis, thank you!
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