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123PatternsV6 revisited

  • #761
  • Sep 30, 2013 9:10pm Sep 30, 2013 9:10pm
Brilliant thread. I have subscribed. I hope this will be helpful for the EA I'm working on
Please check out my blog at https://from-zero-to-hero . net
  • #762
  • Oct 1, 2013 12:35am Oct 1, 2013 12:35am
Quoting jeetvirk
Another live trade on 123 pattern.... going to move my sl to entry point.. {image}
Take profit hit...
  • #763
  • Oct 1, 2013 3:47am Oct 1, 2013 3:47am
Quoting lucariga
I'm trying to learn this system. What you think about using regular fractals (5 candles) to spot 123? A fractal of 3 candles is enough to be considered a max/min? Hope to be clear with my poor english
I think you would be better off using the standard Zig Zag indicator, visually it provides a much better indication of the 123 pattern, I know TEB63 uses the standard fractal indicator I personally find that the fractal indicators are too busy and you will struggle to identify 123s, however, I found a fractal indicator that is adjustable, play around and see what works for you.
Attached Image (click to enlarge)
Click to Enlarge Name: Zig Zag.png Size: 43 KB
Attached File(s)
File Type: mq4 FractalLevels.mq4   4 KB | 515 downloads
Cut your Losers short and let your Winners run.
  • #764
  • Oct 1, 2013 3:51am Oct 1, 2013 3:51am
Quoting jeetvirk
Another live trade on 123 pattern.... going to move my sl to entry point.. {image}
Nice early entry. can you explain your reasons for taking the entry so early, rather than on the break of the number 2 point? It would be really helpful. Thanks
Cut your Losers short and let your Winners run.
  • #765
  • Oct 1, 2013 4:10am Oct 1, 2013 4:10am
Yes - I had exactly the same question.
  • #766
  • Oct 1, 2013 5:32am Oct 1, 2013 5:32am
Quoting dee50
{quote} Nice early entry. can you explain your reasons for taking the entry so early, rather than on the break of the number 2 point? It would be really helpful. Thanks
my reasons to enter into the trade... one thing i forget to mention see how price is rejected at 38.2 level..
Attached Image (click to enlarge)
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  • #767
  • Oct 1, 2013 6:44am Oct 1, 2013 6:44am
Quoting jeetvirk
{quote} Take profit hit...
Great to see some live trades here.
  • #768
  • Edited 9:09am Oct 1, 2013 8:34am | Edited 9:09am
Hope this has not been answered previously. I did read the thread, but rather quickly. Have a great deal of confidence in 123Pattern trading... Question, looks to me that there are some missing,"dots," in 123PatternsV6 chart. A Buy is signaled at one point, but the set up pattern is not shown. Changing to 123PatternsV5 indicator no Buy signal is given. Any input will be greatly appreciated. Anyone... dee50, hoping for your input on this.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 123gumissingdots.gif Size: 31 KB
Click to Enlarge Name: 123v5.gif Size: 24 KB
Vincit qui se vincit.
  • #769
  • Oct 1, 2013 9:42am Oct 1, 2013 9:42am
Quoting Pippopotamus
Hope this has not been answered previously. I did read the thread, but rather quickly. Have a great deal of confidence in 123Pattern trading... Question, looks to me that there are some missing,"dots," in 123PatternsV6 chart. A Buy is signaled at one point, but the set up pattern is not shown. Changing to 123PatternsV5 indicator no Buy signal is given. Any input will be greatly appreciated. Anyone... dee50, hoping for your input on this. {image} {image}


An arrow without dots means it's a distorted pattern. It means it's not exactly how a 'perfect' 1-2-3 pattern should look like, but it's close to it.
Please also see robdee's answer to a similar question in post no.49

http://www.forexfactory.com/showthre...07#post5155407
  • #770
  • Oct 1, 2013 9:49am Oct 1, 2013 9:49am
Quoting SummerJam
{quote} An arrow without dots means it's a distorted pattern. It means it's not exactly how a 'perfect' 1-2-3 pattern should look like, but it's close to it. Please also see robdee's answer to a similar question in post no.49 http://www.forexfactory.com/showthre...07#post5155407
Thanks, that was it. Had ShowAllBreaks true on V6 chart. Many green pips...
Vincit qui se vincit.
  • #771
  • Oct 1, 2013 10:37am Oct 1, 2013 10:37am
I miss this trade, but just putting for education purpose.. look at candles what they are telling us price action is king..
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  • #772
  • Oct 1, 2013 8:50pm Oct 1, 2013 8:50pm
This is beautiful...
Attached Image (click to enlarge)
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  • #773
  • Oct 1, 2013 10:16pm Oct 1, 2013 10:16pm
jeet - are you picking these yourself and drawing your own fibs or using one of the many 123 indi's that does it for you?
  • #774
  • Oct 1, 2013 11:59pm Oct 1, 2013 11:59pm
Quoting handy148
jeet - are you picking these yourself and drawing your own fibs or using one of the many 123 indi's that does it for you?
Hi handy,

i always do every thing my self, i stick to 15 mns chart and only main pairs eur/usd, usd/cad,nzd/usd, aud/usd and gnb/usd whenever i see 1 and 2 points i use fib and write 3 myself around 50 to 38.2 fib. then i start looking for price action at these levels like pin bar, enguling candels..

hope this helps you.
  • #775
  • Oct 2, 2013 2:27am Oct 2, 2013 2:27am
Decided to do some overnight set and forget trades. EJ +65. AU +36. UJ +50 EU +25 +25. Used S&R levels as targets. AS you can see I could not eat my breakfast this morning because I was grinning so much.
Attached Image(s) (click to enlarge)
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Cut your Losers short and let your Winners run.
  • #776
  • Oct 2, 2013 2:32am Oct 2, 2013 2:32am
Quoting jeetvirk
{quote} Hi handy, i always do every thing my self, i stick to 15 mns chart and only main pairs eur/usd, usd/cad,nzd/usd, aud/usd and gnb/usd whenever i see 1 and 2 points i use fib and write 3 myself around 50 to 38.2 fib. then i start looking for price action at these levels like pin bar, enguling candels.. hope this helps you.
Jeetvirk, thank you very much for your input, it will be very nice to have some body else here posting and providing a different perspective. looking forward to seeing more.
Cut your Losers short and let your Winners run.
  • #777
  • Oct 2, 2013 2:36am Oct 2, 2013 2:36am
Quoting dee50
Decided to do some overnight set and forget trades. EJ +65. AU +36. UJ +50 EU +25 +25. Used S&R levels as targets. AS you can see I could not eat my breakfast this morning because I was grinning so much. {image} {image}
Great Job Dee

me just enjoying holiday today with family.
  • #778
  • Oct 2, 2013 5:10am Oct 2, 2013 5:10am
Quoting jeetvirk
{quote} Hi handy, i always do every thing my self, i stick to 15 mns chart and only main pairs eur/usd, usd/cad,nzd/usd, aud/usd and gnb/usd whenever i see 1 and 2 points i use fib and write 3 myself around 50 to 38.2 fib. then i start looking for price action at these levels like pin bar, enguling candels.. hope this helps you.
nice! its same as MTI's UTP strategy. Only they use ABCD.
  • #779
  • Oct 2, 2013 5:53am Oct 2, 2013 5:53am
EU +50. The usual 50 pips from Mr Draghi.
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Cut your Losers short and let your Winners run.
  • #780
  • Oct 2, 2013 9:24pm Oct 2, 2013 9:24pm
Missed my entry by few pips, i was not in front of the computer..
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