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123PatternsV6 revisited

  • #1,221
  • Edited 11:26am Apr 16, 2014 10:44am | Edited 11:26am
Yesterday EJ +40. Overnight & Today EJ +57 +105 +128. Yesterdays Trade was a BPC entry off the bottom of the 4hr Channel. TP was the rising Daily TL & the S&R level intersect. The overnight trade was based on Strong Divergence off the Daily trendline & S&R. There were a number of possible Tps so I set up for all of them as I would be asleep when this happened, checked the trade before going to bed, a 123 had formed so I moved SL up to underside of 123 for a B/E +22. Woke up to find that only TP 1 had been hit but I could move SL to underside of next 123 for a B/E +72 soon after that TP 2 was hit and an hour later TP 3.
I was Happy

Just want to add, that for those trading the NY session into the asian there was a nice 123 setup that would have yielded you a good 60 pips without too much heart ache.
Attached Image (click to enlarge)
Click to Enlarge Name: ej +40 +7 +105 +128.png Size: 67 KB
Cut your Losers short and let your Winners run.
  • #1,222
  • Apr 16, 2014 12:32pm Apr 16, 2014 12:32pm
Quoting geomoon
{quote} it seems that it's related to MT4, I have MT4 build 625 and the stop loss is always red dash while blue dash is always take profit no matter what the trade is buy or sell, what's more important that you end up with green pips..... Cheers Dee
I understand your question now! I am still on build 509 so I am about 2 years out of date, I suppose I had better bite the bullet and update to 625. Thanks for pointing out the difference, as I live in a world of my own I had not noticed.
Cut your Losers short and let your Winners run.
  • #1,223
  • Apr 16, 2014 1:44pm Apr 16, 2014 1:44pm
Quoting dee50
Yesterday EJ +40. Overnight & Today EJ +57 +105 +128. Yesterdays Trade was a BPC entry off the bottom of the 4hr Channel. TP was the rising Daily TL & the S&R level intersect. The overnight trade was based on Strong Divergence off the Daily trendline & S&R. There were a number of possible Tps so I set up for all of them as I would be asleep when this happened, checked the trade before going to bed, a 123 had formed so I moved SL up to underside of 123 for a B/E +22. Woke up to find that only TP 1 had been hit but I could move SL to underside of...
That's Cool, that means you had a great breakfast today......
Nice trades Dee
  • #1,224
  • Apr 16, 2014 1:47pm Apr 16, 2014 1:47pm
Quoting dee50
{quote}I understand your question now! I am still on build 509 so I am about 2 years out of date, I suppose I had better bite the bullet and update to 625. Thanks for pointing out the difference, as I live in a world of my own I had not noticed.
it's a great way of life to have a world of your own and living it the way that you want ............
  • #1,225
  • Apr 16, 2014 1:54pm Apr 16, 2014 1:54pm
Quoting dee50
{quote}I understand your question now! I am still on build 509 so I am about 2 years out of date, I suppose I had better bite the bullet and update to 625. Thanks for pointing out the difference, as I live in a world of my own I had not noticed.
Colors can be set to whatever is your flavor of choice :-)
Review "properties" settings.

Good scalping !
  • #1,226
  • Apr 16, 2014 5:11pm Apr 16, 2014 5:11pm
Nice trades Dee
  • #1,227
  • Apr 17, 2014 8:31am Apr 17, 2014 8:31am
just a reminder. The gap down on the EU has not yet been filled!!! I will not be posting any trades today. I just opened my platform to check on the market and had forgotten about the GAP, it is not a large one only 22 pips. May not get filled this side of easter.

Have a good one.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh1.png Size: 64 KB
Cut your Losers short and let your Winners run.
  • #1,228
  • Apr 17, 2014 8:51am Apr 17, 2014 8:51am
[quote=dee50;7403845]Hi Ya All. I did not take a single trade last week after tuesday, Harvest time in the olives and planting time in my Market garden. But it does not mean I was not thinking of you!

vow, I can only imagine those olive plants,
if I don't check the calendar I can't tell if it's christmas or easter here.
thanks for thinking of us from your garden....
If you're going through hell, keep going. Winston Churchill
  • #1,229
  • Apr 17, 2014 9:30am Apr 17, 2014 9:30am
Quoting dee50
just a reminder. The gap down on the EU has not yet been filled!!! I will not be posting any trades today. I just opened my platform to check on the market and had forgotten about the GAP, it is not a large one only 22 pips. May not get filled this side of easter. Have a good one. {image}
You too....
Cheers
  • #1,230
  • Apr 17, 2014 9:32am Apr 17, 2014 9:32am
thx for the reminder on eu.
I haven't looked at it much lately, haven't traded anything lately,
been busy arranging moving to relocate.
I looked at eu/aud H1 last night in asia session, and spotted a 123 setup off a rising trendline
entered at the break of pullback candle, exit at previous day high.
This pair seems to be a better mover as of late.
good weekend and Happy Easter to you all!
Attached Image (click to enlarge)
Click to Enlarge Name: Greenshot_2014-04-17_10-14-54eaudh1.png Size: 57 KB
If you're going through hell, keep going. Winston Churchill
  • #1,231
  • Apr 19, 2014 8:58am Apr 19, 2014 8:58am
I think it is time to resurrect (pun intended) some information and guidance. As many Trading Nomads have an aversion to searching a thread for information, particularly the "attachments" section, here are a few relevant PDFs about the 123 trading pattern, it also does not hurt to refresh the minds of the current followers, myself included.

Attached File(s)
File Type: pdf How to use the 123 strategy effectuvely.pdf   1.6 MB | 1,251 downloads

Attached File(s)
File Type: pdf 1-2-3 Trend Change Pattern.pdf   139 KB | 1,109 downloads

Attached File(s)
File Type: pdf 123 Chart Pattern + Fib Expansion.pdf   111 KB | 788 downloads

Attached File(s)
File Type: pdf Divergence Hidden Divergence Fibos.pdf   487 KB | 630 downloads


In addition, you may have noticed that I use the stochastics oscillator, I have done so for many years. Why?

here is a description from "Stockcharts.com chart school. I found their explanation to be the simplest and most logical. http://stockcharts.com/school/doku.p...tic_oscillator

"Developed by George C. Lane in the late 1950s, the Stochastic Oscillator is a momentum indicator that shows the location of the close relative to the high-low range over a set number of periods. According to an interview with Lane, the Stochastic Oscillator "doesn't follow price, it doesn't follow volume or anything like that. It follows the speed or the momentum of price. As a rule, the momentum changes direction before price." As such, bullish and bearish divergences in the Stochastic Oscillator can be used to foreshadow reversals. This was the first, and most important, signal that Lane identified. Lane also used this oscillator to identify bull and bear set-ups to anticipate a future reversal. Because the Stochastic Oscillator is range bound, is also useful for identifying overbought and oversold levels."

Attached is a PDF "George C Lane Stochastics" he explains how to use the stochastics.

Attached File(s)
File Type: pdf George C Lane Stochastics.pdf   59 KB | 5,612 downloads


The reason I am including this information is, far too many traders use indicators that they actually know very little about. To them it signals an entry and that is it! They do not understand how! so therefore are not aware of the pitfalls of each indicator or the benefits of understanding the lesser known nuances.

Watch this space for an explanation of the BOSO method ( buying the overbought and selling the oversold) using the Stochastic.
Cut your Losers short and let your Winners run.
  • #1,232
  • Apr 19, 2014 6:55pm Apr 19, 2014 6:55pm
I've just been upgraded to Version 4 Build 625 and V6 quit working. Has anyone experienced the same problem or has a fix? This is a great indicator and would like to continue using it. Thanks in advance.
  • #1,233
  • Apr 22, 2014 11:07am Apr 22, 2014 11:07am
Quoting pippinfresh
I've just been upgraded to Version 4 Build 625 and V6 quit working. Has anyone experienced the same problem or has a fix? This is a great indicator and would like to continue using it. Thanks in advance.
HAH! I have just updated over easter, and I have the same problem and I have tried all the solutions but none of them work. Compiling the indi informs me there are 3 errors, not much use to me as I can not code, I can edit but I do not know how to edit the errors. Can any one post a working version for Pippinfresh? I do not need it.
Cut your Losers short and let your Winners run.
  • #1,234
  • Apr 22, 2014 11:26am Apr 22, 2014 11:26am
The more of these I read the more I laugh, this is what keeps the market moving, one person buys and one sells.

Here is my analysis of the market for the next couple of days.

I predict that some currencies will go up while others will go down but I advise caution because of current market sentiment, those currencies that I predict will rise might actually come down and those I predict will come down might actually rise, if sentiment changes during the next few days we could expect some currencies to consolidate for a period of time. The technicals show that a mandarin candle has recently collided with a satsuma candle but the lack of a granny smith means that it will be a lacklustre affair and price is likely to lay down for a rest.
Attached File(s)
File Type: pdf SEB.pdf   389 KB | 279 downloads
File Type: pdf UBS_FxAdviser_April22_1.pdf   198 KB | 422 downloads
File Type: pdf Swissquote(1).pdf   675 KB | 344 downloads
Cut your Losers short and let your Winners run.
  • #1,235
  • Apr 22, 2014 1:06pm Apr 22, 2014 1:06pm
Quoting dee50
The more of these I read the more I laugh, this is what keeps the market moving, one person buys and one sells. Here is my analysis of the market for the next couple of days. I predict that some currencies will go up while others will go down but I advise caution because of current market sentiment, those currencies that I predict will rise might actually come down and those I predict will come down might actually rise, if sentiment changes during the next few days we could expect some currencies to consolidate for a period of time. The technicals...
  • #1,236
  • Apr 22, 2014 1:16pm Apr 22, 2014 1:16pm
Quoting dee50
The more of these I read the more I laugh, this is what keeps the market moving, one person buys and one sells. Here is my analysis of the market for the next couple of days. I predict that some currencies will go up while others will go down but I advise caution because of current market sentiment, those currencies that I predict will rise might actually come down and those I predict will come down might actually rise, if sentiment changes during the next few days we could expect some currencies to consolidate for a period of time. The technicals...
And many of them take money for letting us read their BS.....
  • #1,237
  • Apr 22, 2014 1:20pm Apr 22, 2014 1:20pm
Quoting pippinfresh
I've just been upgraded to Version 4 Build 625 and V6 quit working. Has anyone experienced the same problem or has a fix? This is a great indicator and would like to continue using it. Thanks in advance.
The only workaround that worked for me is changing the ZigZag value to 5 or 7 , I use the same indicator that is found on this thread over 625 build, maybe it's a good reason for me to go and learn MQL4 programming
  • #1,238
  • Apr 23, 2014 4:42am Apr 23, 2014 4:42am
Quoting pippinfresh
I've just been upgraded to Version 4 Build 625 and V6 quit working. Has anyone experienced the same problem or has a fix? This is a great indicator and would like to continue using it. Thanks in advance.
Compiled indi from "cco1569474"
http://www.forexfactory.com/showthre...88#post7271688

then, when you first load it on a chart, you get the settings window. Set zig zag to 5 or more as per

Geomoon.
http://www.forexfactory.com/showthre...89#post7421089

Thank you guys. What would we do without you?
Cut your Losers short and let your Winners run.
  • #1,239
  • Apr 23, 2014 4:52am Apr 23, 2014 4:52am
This is the only report that I take much notice of, not because they are always right! but simply, I have found them to be more consistent than many of the others and I like the table format.
Attached File(s)
File Type: pdf DanskeTechnicalUpdate.pdf   62 KB | 791 downloads
Cut your Losers short and let your Winners run.
  • #1,240
  • Apr 23, 2014 5:09am Apr 23, 2014 5:09am
Quoting dee50
This is the only report that I take much notice of, not because they are always right! but simply, I have found them to be more consistent than many of the others and I like the table format. {image}
That's right, when you first talked about them and I followed them occasionally and they have a good analysis.
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