Not sure just yet, I will watch PA as it approches the level to see if there is any visible interest in taking out the level. If it seems buyers are in control I will buy the break otherwise I may wait for the old Ross Hook break, retrace and then ...

How to use the 123 strategy effectively

A little wary about that 5510 break out level... 5 - 5min candles all hit and stopped at that level... a break and hold should signal some nice upside gains IMHO...

How to use the 123 strategy effectively

GBPUSD long??? — Watching to see what this one does...

How to use the 123 strategy effectively

Good day then. Even 2% a day compounds nicely.

How to use the 123 strategy effectively

A profitable day with few trades is better than a loss day with many... Great trading.

How to use the 123 strategy effectively

Nope same R:R (1:1) I match the fib retracement to the TP level. On this trade the retrace was down to the 38.2 level (based on how I draw my fibs with 100 always on top) so my TP was 161.8 giving me a 1:1. All this means is that I will hit my TP ...

How to use the 123 strategy effectively

EURUSD long — Long trade taken... TP hit.

How to use the 123 strategy effectively

I also trade them both ways and it works for me. You just have to plan each trade and determine if you are going to trade just one or both. Trading just reversals for example the plan is clear, short, then long etc... Trading continuations you need ...

How to use the 123 strategy effectively

GBPUSD trades — I also took a GBPUSD short but took an earlier trade set-up... Followed up with a long set-up. Both had SL at 50 and TP at 50. Sorry for being quite late with the charts but I just got to work. Short trade almost hit SL on that ...

How to use the 123 strategy effectively

Got to love the pre LO... When I can drag by ass out of bed

How to use the 123 strategy effectively

Looks fine... GL with your trade.

How to use the 123 strategy effectively

Almost time for bed... 6AM comes early. Let's see if my personal body alarm wakes me up at 4AM for london open to check out PA... Have a great night all and see you sometime mid London (once I get to my computer at work)... shhh!!!!

How to use the 123 strategy effectively

EURUSD short — Saw a nice set-up and couldn't resisit a quick 5%. SL at 38.2 TP at -38.2... Felt safe taking this trend continuation trend since entry was below the triple bottom formed earlier.

How to use the 123 strategy effectively

and a test of 5550 (50% fib) or 5560 (daily pivot) before moving up is very possible... that's why more confirmation is needed before chosing a side. Looks like we might be seeing an early break out to the downside... these early moves on big ...

Trade What You See - Almost Naked Trading

completely agree... seems to be accumulating but will have to see...

Trade What You See - Almost Naked Trading

Bit of a bull flag / pennant and rounded bottom making me lean more towards the upside ATM.

Trade What You See - Almost Naked Trading

This has actually turned into a triple bottom... hopefully this gives some sign that a bottom is forming for now and the next long trade will be successful.

How to use the 123 strategy effectively

They happen, we all make mistakes and it is was keeps us humble and human. Best of luck.

How to use the 123 strategy effectively

Yes time zones make sharing trades somewhat difficult... I live in Canada and am in a zone GMT-4 which means for me London opens at 4AM and I work fulltime so getting up to trade LO is tough. I am able to trade the london, US cross over which is ...

How to use the 123 strategy effectively

Even if it was a beauty I would have missed it... driving to work and all. Ah the joys of being a part time trader with full time ambitions I normally take most set-ups but like I said I tend to shy away from deep retracements on leg 3 and those ...

How to use the 123 strategy effectively