Simple as 1-2-3

forex live trades, setups, charts

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frang0nve
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Postby frang0nve » Fri Feb 11, 2011 6:51 am

Hello DChappy,

My trading platform doesn't support Renko bars, which setup would you use with standard candlesticks?

Something like 5 min., 30 SMA?

Cheers

Francisco

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dchappy
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Postby dchappy » Fri Feb 11, 2011 9:22 am

Humble wrote:Short on passing a lower low and long breaking a higher high.


yes sir .. :smt023 (i get confused sometimes ) thanks.......

dchappy
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Postby dchappy » Fri Feb 11, 2011 9:27 am

frang0nve wrote:Hello DChappy,

My trading platform doesn't support Renko bars, which setup would you use with standard candlesticks?

Something like 5 min., 30 SMA?

Cheers

Francisco


Hi Francisco , good to see you again .....

1-2-3's are on every time frame ...but 5 min is about the same as 5 renko ..

and some days 5 min gives better entries .....

Good luck to you....

dchappy
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Postby dchappy » Fri Feb 11, 2011 9:52 am

OK .....

This is probably my last post for a while ...I was right , it really did help get my trading back on track ..

Hopefully you can add this little method to your own tool kit and make some more pips ..

It is so simple ,that I think it gets overlooked by more complex methods ..

Please feel free to continue the thread ,if there is interest ...and PM me at any time ...


Trade Well...........................Chappy :smt023
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Humble
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Postby Humble » Fri Feb 11, 2011 10:40 am

Was good to see you back again. You always manager to produce charts that emphasise the zig and the zag.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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TheRumpledOne
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Postby TheRumpledOne » Fri Feb 11, 2011 7:29 pm

Image

TRO_123 plots the latest 1-2-3 top and bottom candle pattern.
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IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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noushina
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Postby noushina » Fri Feb 11, 2011 11:00 pm

TRO, thank you! I was going to go look for a 123 indicator and hadnt got around to it yet.
-------------------
Thanks dchappy for the thread. By the way, stick a Heikin Ashi on your renko chart, and turn the chart to line. Very interesting.
Image
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Edited to add pic
Last edited by noushina on Sun Feb 13, 2011 9:04 pm, edited 1 time in total.

dchappy
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Postby dchappy » Fri Feb 11, 2011 11:09 pm

TheRumpledOne wrote:Image

TRO_123 plots the latest 1-2-3 top and bottom candle pattern.



Awesome ....As usual !! :smt038

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noushina
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Postby noushina » Mon Feb 14, 2011 12:25 am

Some observations.

M candles rather help to give a perspective of actual timeImage


Line charts seem just as useful as the bars, perhaps more so for 1-2-3 purposes
Image


Higher time frame feeder produces similar results and allows one to look back further for SR levels. Whereas the one minute feeder may not allow one to go back more than a few days,
Image

dchappy
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Postby dchappy » Mon Feb 14, 2011 2:03 am

I like the way you think ..... :smt023

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