Simple as 1-2-3

[MightyOne]

How do you determine 1-2-3?

Joe Ross does it something like this:

price:

1) moves away from the lowest low
2) makes a high extreme BO
3) makes a low extreme BO
4) there is a BO of the highest high to the right
of the lowest low.

These steps do not have to occur in order as in the
case of an outside bar:

AUDUSDDaily.png (21.22 KiB) Viewed 6779 times

The #2 point is not an entry, it is a partial take profit.

[TheRumpledOne]

How do you determine 1-2-3?

Joe Ross does it something like this:

price:

1) moves away from the lowest low
2) makes a high extreme BO
3) makes a low extreme BO
4) there is a BO of the highest high to the right
of the lowest low.

These steps do not have to occur in order as in the
case of an outside bar:

AUDUSDDaily.png

The #2 point is not an entry, it is a partial take profit.

LOL.. thanks MO... I understand that... but I was asking dchappy. It was not apparent to me from the chart posted.

[Adam777]

Hi Doji ,

How's the snow up there ?

I'm not on Tradestation anymore , I'm using ZenTrader.

But my chart is simple :

10 range with a 26 simple ma

macd histo on the bottom .

I would probably be using a renko chart if I had it ..but we can't

have everything ...right ?

I really like this method, and how it's developed throughout this thread and your posts in other threads!

Is the renko chart with 1-2-3's the preferred method of entry for newer traders? I've seen your trendline breaks on the 1min, but it may take a while before I'm up to that

[dchappy]

How do you determine 1-2-3?

Joe Ross does it something like this:

price:

1) moves away from the lowest low
2) makes a high extreme BO
3) makes a low extreme BO
4) there is a BO of the highest high to the right
of the lowest low.

These steps do not have to occur in order as in the
case of an outside bar:

Screenshot_2015-08-10-20-48-54.png (57.89 KiB) Viewed 6336 times

The #2 point is not an entry, it is a partial take profit.

LOL.. thanks MO... I understand that... but I was asking dchappy. It was not apparent to me from the chart posted.

Hi Tro ,,I don't measure pullbacks or fib retracements or any of that .If it looks like a 123 wave to me ,,it is .If it breaks at or near the buy zone , I consider it a stronger signal and will add at the hooks ........today was another good example .

[TheRumpledOne]

Thanks DCHAPPY.

[dchappy]

Hi Doji ,

How's the snow up there ?

I'm not on Tradestation anymore , I'm using ZenTrader.

But my chart is simple :

10 range with a 26 simple ma

macd histo on the bottom .

I would probably be using a renko chart if I had it ..but we can't

have everything ...right ?

I really like this method, and how it's developed throughout this thread and your posts in other threads!

Is the renko chart with 1-2-3's the preferred method of entry for newer traders? I've seen your trendline breaks on the 1min, but it may take a while before I'm up to that

Hi Adam...tough question since everyone see's differently . Renko is my first choice , not having that these days I trade from a simple line chart ..Find what is clearest for you . good luck .

[dchappy]

Wow , can't believe it has been 10 months since posting here .Sorry I haven't answered PM's.I don't check them often . Some wanted to know if or how I am still trading .So ,yes I am still trading the 1-2-3 ,and buy zone .I never trade news,fomc ,NFP ,or events ,however watching the brexit last night I attempted a few shorts on GU .I really just wanted to see how orders were filled during these wild moves .Getting in wasn't hard but exiting took over17 attempts accepting re-quotes with severe slippage .123's were everywhere , I entered on hooks .Also ,I have been posting profits lately to quiet some of the nonbelievers .Hope no one is offended by that . Well , my trading is done until Fall/Winter . Have a good summer everyone .

[aliassmith]

Wow , can't believe it has been 10 months since posting here .Sorry I haven't answered PM's.I don't check them often . Some wanted to know if or how I am still trading .So ,yes I am still trading the 1-2-3 ,and buy zone .I never trade news,fomc ,NFP ,or events ,however watching the brexit last night I attempted a few shorts on GU .I really just wanted to see how orders were filled during these wild moves .Getting in wasn't hard but exiting took over17 attempts accepting re-quotes with severe slippage .123's were everywhere , I entered on hooks .Also ,I have been posting profits lately to quiet some of the nonbelievers .Hope no one is offended by that . Well , my trading is done until Fall/Winter . Have a good summer everyone .

Ya it was pretty wild. I got in on single digit spread with GJ and by the time I exited it was 40 something.

BTW how can posting your success offend anyone? If you aren't marketing anything who cares.

[dchappy]

Wow , can't believe it has been 10 months since posting here .Sorry I haven't answered PM's.I don't check them often . Some wanted to know if or how I am still trading .So ,yes I am still trading the 1-2-3 ,and buy zone .I never trade news,fomc ,NFP ,or events ,however watching the brexit last night I attempted a few shorts on GU .I really just wanted to see how orders were filled during these wild moves .Getting in wasn't hard but exiting took over17 attempts accepting re-quotes with severe slippage .123's were everywhere , I entered on hooks .Also ,I have been posting profits lately to quiet some of the nonbelievers .Hope no one is offended by that . Well , my trading is done until Fall/Winter . Have a good summer everyone .

Ya it was pretty wild. I got in on single digit spread with GJ and by the time I exited it was 40 something.

BTW how can posting your success offend anyone? If you aren't marketing anything who cares.

Ya ,just makes me feel uncomfortable I guess ....have a great summer Alias.

[aldomcfaldo]

Dchappy and alias, your latest trade posts have been great, really given me the urge to get trading on my account, especially since you two are seem like modest guys. Really appreciate it!

Cheers