see post #831, basically a failure (with specific trading conditions) of an ABC continuation trade

How to use the 123 strategy effectively

audusd — just to follow up upon this a quick overview of the audusd on friday night (my time). it shows that even if you get the count wrong at the beginning of the day then the market will guide you back to the right count if you let it..... ...

How to use the 123 strategy effectively

nzdusd — same as audusd...what goes up must come down...

How to use the 123 strategy effectively

i've left a couple of buy stops in audusd and eurusd in case figures are bearish us$

How to use the 123 strategy effectively

sorry that I'm confusing you, it's not my intention. if i wasn't concerned with the resistance at 60-65 then I would also be long under conventional scenario. So I basically just stopped out on the initial short position and was happy to watch it go ...

How to use the 123 strategy effectively

sorry if I sounded obtuse with my previous comments.... this method is can be extremely black and white. basically we're trying to ride the market wave and enter into long and short trades at what are perceived to be high probability market tops and ...

How to use the 123 strategy effectively

your count is fine... i just don't like that prior resistance up here at the 60-70 level... i expect my s/l to be done shortly

How to use the 123 strategy effectively

gbpusd 2B — stopped out on the initial 1-2-3 trade, but failed to hold above 60 and 2B set-up in place... if this fails then will let market run it's course until clearer PA

How to use the 123 strategy effectively

short cable stopped out

How to use the 123 strategy effectively

London open — eurusd key levels @ 1.2965 and 1.3055....can europe punch it lower or do they need the US eco data to push it through, or does it get through? gbpusd is how i see the count for the start of the day.... the sell pt 1 has already ...

How to use the 123 strategy effectively

Thomas, If there is no count from the NY close in play on a bigger time frame then I would look for the first extreme from the Asian session to begin the count, and yes, you can have 2 counts setting-up. It might be handier to also just drop back a ...

How to use the 123 strategy effectively

yes there is a lot of logic in Paulus's methodology and I believe he emphasis's it as well, alternating long positions and then short positions....and allowing that trends occur less than 20-30% (according to market lore) of the time then why not ...

How to use the 123 strategy effectively

He is (was) one of the original guru traders, you can google Victor Sperandeo'' and/or his book, Trader Vic--Methods of a Wall Street Master. i'm not sure if i can post the links here but for a simple overview see below. url url but many people ...

How to use the 123 strategy effectively

yes, i can't spend too much time watching 5 mins either so hence why i like to have a bit longer time frame to look at... was just watching the gbpchf and usdcad (both trader Vic set-ups) then the eurusd and gbpusd just clicked btw, have you read ...

How to use the 123 strategy effectively

i didn't see any news out ....in fact the only reason i looked at cable was because of your funny picture and then the set-up was there.... so i owe you a cold beer for that headsup!

How to use the 123 strategy effectively

both done.... really have to be on your toes for these 5 min markets!

How to use the 123 strategy effectively

gbpusd — maybe it will smile for me... there is also eurusd entry as well but market has moved too fast to show it

How to use the 123 strategy effectively

gbpchf — for something different in the 1-2-3- trading arsenal, this is an original gartley set-up, and also known, and made popular, as the Trader Vic 1-2-3 set-up, it's an agressive entry and needs confirmation at 1.4945 (point2) we didn't ...

How to use the 123 strategy effectively

you can have your up-leg now...i'm square

trading forex using Gartley Patterns

Jeff, by definition the 1-2-3 is always going to be against the trend....you don't need a sma to tell you the trend, just look at price, and well done on the +9% so far!

How to use the 123 strategy effectively