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A very simple system - trade with arrow

  • #1,021
  • Oct 28, 2016 6:14am Oct 28, 2016 6:14am
just scalping here and there....in e/a,e/cad long and short oil
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Click to Enlarge Name: GBPJPYM5.png Size: 52 KB
the cautious seldom err....C
  • #1,022
  • Oct 28, 2016 6:57am Oct 28, 2016 6:57am
profit taken...just adding up the pips
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Click to Enlarge Name: EURAUDM5.png Size: 49 KB
the cautious seldom err....C
  • #1,023
  • Oct 28, 2016 7:01am Oct 28, 2016 7:01am
trade locked in at b/e...leaving it aside for target or stop..
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the cautious seldom err....C
  • #1,024
  • Oct 28, 2016 7:04am Oct 28, 2016 7:04am
feeling the heat and so I cash out
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Click to Enlarge Name: EURCADM5.png Size: 49 KB
the cautious seldom err....C
  • #1,025
  • Oct 28, 2016 7:07am Oct 28, 2016 7:07am
in n/u long and a/y long (some dd)
the cautious seldom err....C
  • #1,026
  • Edited 7:36am Oct 28, 2016 7:16am | Edited 7:36am
taken using the 5 min but showing H1 in order to show target..might be stopped out as sl is tight@11 pips EDit: stopped out
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Click to Enlarge Name: nuh1.png Size: 84 KB
Click to Enlarge Name: NZDUSDM5.png Size: 54 KB
the cautious seldom err....C
  • #1,027
  • Oct 28, 2016 8:29am Oct 28, 2016 8:29am
trades closed manually...gotta leave the house in a bit . All positions are closed
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Click to Enlarge Name: USOUSDM5.png Size: 49 KB
Click to Enlarge Name: AUDJPYM5.png Size: 54 KB
the cautious seldom err....C
  • #1,028
  • Oct 28, 2016 10:38am Oct 28, 2016 10:38am
Quoting pips29
profit taken...just adding up the pips {image}
re -entered and took another 10 pips
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Click to Enlarge Name: EURAUDM5.png Size: 52 KB
the cautious seldom err....C
  • #1,029
  • Oct 31, 2016 4:55am Oct 31, 2016 4:55am
got in longs e/y,e/u and n/y and short u/cad just mins ago...let's see
the cautious seldom err....C
  • #1,030
  • Oct 31, 2016 7:21am Oct 31, 2016 7:21am
stopped out on ucad
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Click to Enlarge Name: USDCADM5.png Size: 50 KB
the cautious seldom err....C
  • #1,031
  • Nov 1, 2016 9:11am Nov 1, 2016 9:11am
taken 2 scalps and both successful..1-2-3 pattern on 5 min. (N/U) and 15 min (N/Y)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZDUSDM5.png Size: 51 KB
Click to Enlarge Name: NZDJPYM15.png Size: 54 KB
the cautious seldom err....C
  • #1,032
  • Nov 1, 2016 9:21am Nov 1, 2016 9:21am
3rd trade of the day...short g/y on the 15 min..let's see
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Click to Enlarge Name: gy15.png Size: 74 KB
the cautious seldom err....C
  • #1,033
  • Nov 1, 2016 9:43am Nov 1, 2016 9:43am
Quoting pips29
taken 2 scalps and both successful..1-2-3 pattern on 5 min. (N/U) and 15 min (N/Y) {image} {image}
Hi pips29,

I was reading the old posts by you and noticed several occurrences of the 1-2-3 pattern. My understanding of it so far is merely a lower high (for a sell) and more than 60% retrace of the previous leg. Is it the correct understanding or is there more to the definition of 1-2-3 pattern?

On the example of NZDUSD, would the pinbar which occurred earlier around 12:20 near the R38 line also be a 1-2-3 sell pattern?

Thank you.
  • #1,034
  • Nov 1, 2016 9:53am Nov 1, 2016 9:53am
Quoting pips29
3rd trade of the day...short g/y on the 15 min..let's see {image}
trade closed ...daily quota achieved
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM15.png Size: 52 KB
the cautious seldom err....C
  • #1,035
  • Nov 1, 2016 10:03am Nov 1, 2016 10:03am
Quoting antonym
{quote} Hi pips29, I was reading the old posts by you and noticed several occurrences of the 1-2-3 pattern. My understanding of it so far is merely a lower high (for a sell) and more than 60% retrace of the previous leg. Is it the correct understanding or is there more to the definition of 1-2-3 pattern? On the example of NZDUSD, would the pinbar which occurred earlier around 12:20 near the R38 line also be a 1-2-3 sell pattern? Thank you.
Hi antonym,
Before I use this pattern I will look at extremes like price has gone quite a bit and at S/R. If you take a look at N/U on the 4 hour you will see a wick and price closed below the 200 ema. The 200 ema is on both the 4 hour and daily chart only as I pay attention to it on these time frames..Owing to price rejection I switch to the lower time frames normally the 15 min. tf to spot this pattern..and with a little bit of luck it works out for me..
the cautious seldom err....C
  • #1,036
  • Nov 1, 2016 10:07am Nov 1, 2016 10:07am
http://www.forexfactory.com/attachme...4&d=1433174816
take a look at the above
the cautious seldom err....C
  • #1,037
  • Nov 1, 2016 10:27am Nov 1, 2016 10:27am
H4 e/u...price is approaching an area of resistence, first the weekly fib.78.6, second ,the 200 ema and thirdly at S/R ( look left). I will see if a 1-2-3 pattern occurs for a sell on the lower tf EDit: forgot to add ,adr already exceeded
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 56 KB
the cautious seldom err....C
  • #1,038
  • Nov 1, 2016 11:11am Nov 1, 2016 11:11am
Quoting pips29
{quote} Hi antonym, Before I use this pattern I will look at extremes like price has gone quite a bit and at S/R. If you take a look at N/U on the 4 hour you will see a wick and price closed below the 200 ema. The 200 ema is on both the 4 hour and daily chart only as I pay attention to it on these time frames..Owing to price rejection I switch to the lower time frames normally the 15 min. tf to spot this pattern..and with a little bit of luck it works out for me..
Thanks a lot for the teaching pips29. I am curious on the sentence you wrote: "If you take a look at N/U on the 4 hour you will see a wick and price closed below the 200 ema".

From your experience, if the candle that first touches the 200ema doesn't close below 200ema, does that mean it will more likely continue upwards and you will not be looking for a reversal sell trade? My understanding was whether it closes above or below 200ema is purely a matter of the price movement during the last 20 to 30 minutes in a 4-hour period, so it could be quite random.
  • #1,039
  • Nov 1, 2016 11:18am Nov 1, 2016 11:18am
yes, that's correct..if price closes above the 200 ema, I am more inclined to look at buy in this case but not immediately. Normally price will retrace and test the 200 ema again and when it bounces from there look for buy with the initial target at R and perhaps the daily 200 ema later on
the cautious seldom err....C
  • #1,040
  • Nov 1, 2016 11:52am Nov 1, 2016 11:52am
going short in two parts on e/u with 1/2 entered...let's see
the cautious seldom err....C
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