DS1 (3081) falls just above the daily trend line (see below) drawn from previous low to today's low. TP sits just below this level and could be tough to get to. Will watch a little longer and may lean toward closing rather than risking giving it all ...

How to use the 123 strategy effectively

3 - 15m candles since break of DS1 and still no close below... and TP 1 is so close. Holding firm with my trading plan even though closing for 50pips would be nice. To get 1:1 I need to hold for my TP which 70pips that matches my SL. If price keeps ...

How to use the 123 strategy effectively

GBPUSD — This one took some time but finally broke down through the point 2. I am not in this trade as I missed the break.

How to use the 123 strategy effectively

Trade 1 is closing in on TP at -200 (3067). Price struggled a bit with the DS1 level but has now broken down through. Let's see if it holds with a close below on the 5m or 15m.

How to use the 123 strategy effectively

EURUSD — I took a trade on EURUSD per pic 1... My TP is set at -100 fib at 3067. Then price retraced back to 0 fib level breakout (is this a Ross Hook?) so I created a new point 2 and am now in a second trade at the breakout of this new level ...

How to use the 123 strategy effectively

Have to be careful on 3081 level though as it is daily S1 level. Also the obvious support at 1.3100... we havent been below that and held since back in November.

How to use the 123 strategy effectively

I am in same trade...

How to use the 123 strategy effectively

GBPUSD — Not a ross hook trade but I took it anyway on the break of my point 2. Close to hitting TP at -38.2 fib (This was a 38.2 fib retrace trade).

How to use the 123 strategy effectively

And do you trade only 123's with the Ross Hook? No one else trading on here seems to mentioned it or wait for it (I may have msised this)... Waiting for the Ross Hook and then a break of this new high or low would seem to lead to many missed trades? ...

How to use the 123 strategy effectively

I removed my post since you say they are not 123 trades and I agree that they aren't prefect, pretty set ups but I had a low point 1, high point 2, retrace and breakout which is what I traded. Guess it may have been more of a range breakout from ...

How to use the 123 strategy effectively

What do you mean by 123 low which gives entry? I do not follow what you are saying.

How to use the 123 strategy effectively

I took the GBPUSD trade on the break of 5519 level... It only climbed to 5530 and my target was 5539 (150 target for 50 fib retrace). 2 reasons I shouldn't have taken this trade; 1. Messy looking 1-2-3 pattern + very ranging PA 2. This price level ...

How to use the 123 strategy effectively

Since price is bouncing around I am also looking at some crude looking 1-2-3's to the upside also on the EUR and GBP...

How to use the 123 strategy effectively

Keeping my eyes on both the GBP and EUR USD crosses for possible 1-2-3's to the short side... As you can see the EUR bounced perfectly at the DS1 level. Both pairs have room to the downside if the breaks do happen.

How to use the 123 strategy effectively

GBPUSD trade 3 — Trade 3... this one retaced further than I normally like (all the way past 50 to 68.2)... But since it seemed like we were buliding to a breakout I took the trade and set my TP at the -68.2 fib. I was also watching for a ...

How to use the 123 strategy effectively

Good thing I got out at -50 fib as price is taking off to the North ATM...

How to use the 123 strategy effectively

Forex is very subjective I guess in that everyone perceives trades and candles slightly differenty. I do not put much weight into the wicks as these are simply points of testing that were not able to hold. If the highest body close is between 38.2 ...

How to use the 123 strategy effectively

GBPUSD trade 2 — Trade 2... entered at 2 and TP was 150 again since this was a 50 fib retrace. This one was a little more careful for me since it was 2 down candles and 2 up candles only to make up the points 2 and 3...

How to use the 123 strategy effectively

On this trade I entered at 2, SL at 3 for a 1:1 ratio.

How to use the 123 strategy effectively

GBPUSD — Nice 1-2-3 on the GBPUSD. I trade all 1-2-3's whether with or against the trend. I traded one lot to the 150 fibo level since this was a 50 fibo retracement trade.

How to use the 123 strategy effectively