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123PatternsV6 revisited

  • #521
  • Jul 10, 2013 8:47am Jul 10, 2013 8:47am
Quoting dee50
EU +37. Some times you have to interfere and close a trade when the PA is telling you to. This is what I saw. Also if you look at the swing high, you have a large green candle followed by a large red candle which closes near the bottom of the green candle, this the signal for a Pin Bar on a higher time frame, in this instance the 15 min. {image}
that's amazing!.
I noticed that the candles are a little bit different from min" FXDD " , I'm not sure what time zone you live in but it looks like very near to what I have +3 GMT.
also the doted Fib doesn't exist on my chart with the fact that I use the same template that you provided in earlier , is there something that I'm missing here ?
thanks
Attached Image (click to enlarge)
Click to Enlarge Name: EU.png Size: 71 KB
  • #522
  • Jul 10, 2013 9:31am Jul 10, 2013 9:31am
Quoting geomoon
{quote} that's amazing!. I noticed that the candles are a little bit different from min" FXDD " , I'm not sure what time zone you live in but it looks like very near to what I have +3 GMT. also the doted Fib doesn't exist on my chart with the fact that I use the same template that you provided in earlier , is there something that I'm missing here ? thanks {image}

Our charts are the same (attached). It is just that I used a chart with all the indis and heiken Ashi taken off for illustration purposes only.

Your Fibs are different because, see attached. The fibs do not adjust themselves, you have to change them when required in this instance because the 0.0% Fib had been negated. How to use fibs is a whole other thread entirely, I have some PDFs about this I shall try to find them and post them.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: My Normal Chart.png Size: 32 KB
Click to Enlarge Name: Change Fibs.png Size: 48 KB
Cut your Losers short and let your Winners run.
  • #523
  • Jul 11, 2013 6:32am Jul 11, 2013 6:32am
Between Bernanke and Draghi you have two of the most destructive forces in the world. Every time one of them opens their mouth BOOM****** 345 pips of destruction.

However. Check out this link. What a breath of fresh air. 6.33 minutes of common sense.
Inserted Video
Cut your Losers short and let your Winners run.
  • #524
  • Edited 7:36am Jul 11, 2013 7:19am | Edited 7:36am
Quoting dee50
Between Bernanke and Draghi you have two of the most destructive forces in the world. Every time one of them opens their mouth BOOM****** 345 pips of destruction. However. Check out this link. What a breath of fresh air. 6.33 minutes of common sense. http://www.youtube.com/watch?v=_VpvgQBeShY
Hah.....the awful truth !......wait , does that mean that you lost 345 Pips during his speech, I'm sorry if that's the case pall and with that you will get them back soon.
Cheers
  • #525
  • Jul 12, 2013 3:13am Jul 12, 2013 3:13am
Quoting geomoon
{quote} Hah.....the awful truth !......wait , does that mean that you lost 345 Pips during his speech, I'm sorry if that's the case pall and with that you will get them back soon. Cheers
Thanks for the sympathy, it is appreciated, but---

I rarely trade after 17.00 my time, Bernanke was 20.00 my time. I am strictly 9-5 (GMT +1) my time of doing 18 hour days is long past. I just feel sorry for all those who listened to the Hype and were short the Euro. Just imagine all those Swing traders trading their Daily and 4 Hr charts who got stopped out.
Cut your Losers short and let your Winners run.
  • #526
  • Jul 12, 2013 3:24am Jul 12, 2013 3:24am
Quick EU +25. Straight forward 123 on the 15 min, also available on the 5min. Price may well continue down to the 200 EMA, but I have to go out for a few hours.

CU later
Attached Image (click to enlarge)
Click to Enlarge Name: Quick +25.png Size: 33 KB
Cut your Losers short and let your Winners run.
  • #527
  • Jul 12, 2013 9:35am Jul 12, 2013 9:35am
EJ +70. 123 Signal on the 5 min. Double Top at Resistance and a TMS method entry coincide on the 15 min. Set TP based on confluence of the 78.6% & 61.8% Fibs on the 15 min. Every thing works at some time.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ +70.png Size: 35 KB
Cut your Losers short and let your Winners run.
  • #528
  • Jul 12, 2013 4:17pm Jul 12, 2013 4:17pm
Quoting dee50
{quote} Thanks for the sympathy, it is appreciated, but--- I rarely trade after 17.00 my time, Bernanke was 20.00 my time. I am strictly 9-5 (GMT +1) my time of doing 18 hour days is long past. I just feel sorry for all those who listened to the Hype and were short the Euro. Just imagine all those Swing traders trading their Daily and 4 Hr charts who got stopped out.
Well that's good to know that you didn't get any loss on that day , your timing zone(+1GMT) matches London time and I think this is the best time to trade ,I think you paid a lot till you reached that plan to trade only during 9-5 and it looks pretty much a wise thing to do, I find many people trust others more than they trust their selves and that's exactly where their problems begin.
  • #529
  • Jul 12, 2013 4:21pm Jul 12, 2013 4:21pm
Quoting dee50
EJ +70. 123 Signal on the 5 min. Double Top at Resistance and a TMS method entry coincide on the 15 min. Set TP based on confluence of the 78.6% & 61.8% Fibs on the 15 min. Every thing works at some time. {image}
That's just great way of trading .
is TMS method located here on Forex-factory ?
  • #530
  • Jul 13, 2013 5:24am Jul 13, 2013 5:24am
Quoting geomoon
{quote} That's just great way of trading . is TMS method located here on Forex-factory ?
TMS = Trading Made Simple

http://www.forexfactory.com/showthread.php?t=291622

It is a very large thread. I recommend you read the first 10 pages only. Also, in the "attachments" section

http://www.forexfactory.com/attachme...mentid=1200363
http://www.forexfactory.com/attachme...mentid=1207545

http://www.forexfactory.com/attachme...mentid=1224397
http://www.forexfactory.com/attachme...mentid=1224398
http://www.forexfactory.com/attachme...mentid=1224400

http://www.forexfactory.com/attachme...mentid=1193996

This lot will tell you what you need to know without having to churn thru the whole thread. After that concentrate on the posts by Phx62 and emmanuel7788
Cut your Losers short and let your Winners run.
  • #531
  • Jul 13, 2013 1:12pm Jul 13, 2013 1:12pm
I like your 123 system but kindly give me the template to download for demo Thanks
  • #532
  • Jul 13, 2013 2:08pm Jul 13, 2013 2:08pm
Sheesh don't you just love people who don't read the thread.
  • #533
  • Jul 13, 2013 3:28pm Jul 13, 2013 3:28pm
Waw.....that's just a lot to digest !, I'll start reading all what I can and thanks for the links.
have a great weekend
  • #534
  • Jul 15, 2013 7:59am Jul 15, 2013 7:59am
EU +40pips. Straight forward 123 off S&R on the 15 min. TP was BRN 161.8% and short term S&R. This trade could was signaled on the 5 - 15 - 6o min charts, take your pick. Nice start to the week.
Attached Image (click to enlarge)
Click to Enlarge Name: EU +40 15 07.png Size: 37 KB
Cut your Losers short and let your Winners run.
  • #535
  • Jul 15, 2013 8:40am Jul 15, 2013 8:40am
Quoting dee50
EU +40pips. Straight forward 123 off S&R on the 15 min. TP was BRN 161.8% and short term S&R. This trade could was signaled on the 5 - 15 - 6o min charts, take your pick. Nice start to the week. {image}
Good way to go dee50 , and thanks for the links,there are a lot of valuable information in it and I enjoyed reading so far.
I understood that TMS method is basically for 4H charts when the green line crosses the red line we should enter on the 1st or 2nd candle according to Big E , however I can see that Phx62 worked on 1H time frame and rarely on 15M , but in all cases he rely on price action and uses his common sens for the trade , do you do the same ?
just more question : do trade any other pair with TMS and price action other than EUR/US ?
Thanks
  • #536
  • Jul 15, 2013 11:34am Jul 15, 2013 11:34am
Hey Dee,

Thanks for that video of TRO, he has some interesting stuff on there.

Simple
A woman drove me to drink, and I forgot to thank her
  • #537
  • Jul 16, 2013 2:44am Jul 16, 2013 2:44am
I am REALLY struggling to understand how it is that 123break patterns do NOT work for me. They simply always reverse and hit my SL. And I always go with the trend too....


Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdwtf.png Size: 24 KB
  • #538
  • Jul 16, 2013 6:15am Jul 16, 2013 6:15am
Quoting geomoon
{quote} Good way to go dee50 , and thanks for the links,there are a lot of valuable information in it and I enjoyed reading so far. I understood that TMS method is basically for 4H charts when the green line crosses the red line we should enter on the 1st or 2nd candle according to Big E , however I can see that Phx62 worked on 1H time frame and rarely on 15M , but in all cases he rely on price action and uses his common sens for the trade , do you...
4 hr charts Big E. If people had read the TMS thread they would have realized that BIG E traded the 4 hr at night and the 1hr during the day. Phx62 trades primarily the 1 hr, but also trades the 15 min. I trade the 1hr, 15min and 5min. Big E said the TDI is King on the 4hr but PA is King on all other time frames. However, the market has changed considerably since he said that, at the time the EU had a range of 200 pips per day, what does it have now? So as far as I am concerned PA is King on all time frames with TDI confirming a move. I have always used the 123 in my trading and I have always looked to the lower time frames 15min and 5 min for tighter entries.

I personally prefer to trade the EU because I am very familiar with it I have been trading it almost exclusively for 7 years, I occasionally will look at the EJ, UJ, AU & GU.
Cut your Losers short and let your Winners run.
  • #539
  • Jul 16, 2013 6:32am Jul 16, 2013 6:32am
Quoting Tok
I am REALLY struggling to understand how it is that 123break patterns do NOT work for me. They simply always reverse and hit my SL. And I always go with the trend too.... {image}
That move was good for 30 pips using market harmonics, ran further but the market spiked back. That had nothing to do with a 123 failing, that was the market.
Attached Image (click to enlarge)
Click to Enlarge Name: Your example.png Size: 30 KB
Cut your Losers short and let your Winners run.
  • #540
  • Jul 16, 2013 6:40am Jul 16, 2013 6:40am
EU +55. This trade just hit TP. perfect Pin Bar setup on the 15min. TP was minor S&R and 161.8 Expansion. 123 confirmed setup and momentum.
Attached Image (click to enlarge)
Click to Enlarge Name: EU +55 16 07.png Size: 36 KB
Cut your Losers short and let your Winners run.
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