Simple as 1-2-3

[dchappy]

[quote="Mr. Hyde"]I know DC is gone but hopefully he might poke his head in sometime and see this (or anyone else for that matter). You say you only take about 3 or 4 trades a week, making sure there the best ones. So I was wondering how you go about that. There are 2 already played out setups plus 1 formed and another one of me showing what I would think might go on in your head when looking for a setup.

Trade 1 seems the best with the break of point 2 happening right after the AO cross. The 2 trade actually has the whole 123 setup inside the trendline. Would this make it not valid for you. The 3rd one has the 3 point almost at the 1, would this also make a trade in valid for you. Then trade 4 is just how I would like to see price play out for a trade to be valid.

Some other questions. Do you ever take a trade based soley on divergence and AO cross if the 123 is not clear. Also when you enter on the BZ is it before or after the 2 break. Also with the BZ you say you use pit session, so does that mean only at 9:30 est and only once. Do you ever use the TTE.

Thanks[/quote. I would take any of those entries .The pattern is rarely perfect ,and price will not always follow the path that we have formed in our head . What I am trying to do is catch part of the elusive 3rd wave ,and the 123 ,tendlines ,ao cross , rat,etc.are only simple tools used to unravel it . I try not to analyze to much ...if it looks like a 123 ,breaks a trend line and crosses the so,(not necessarily in that order ...it is worth taking the shot ....Hop this answers some of your question ..

[Mr. Hyde]

I know DC is gone but hopefully he might poke his head in sometime and see this (or anyone else for that matter). You say you only take about 3 or 4 trades a week, making sure there the best ones. So I was wondering how you go about that. There are 2 already played out setups plus 1 formed and another one of me showing what I would think might go on in your head when looking for a setup.

Trade 1 seems the best with the break of point 2 happening right after the AO cross. The 2 trade actually has the whole 123 setup inside the trendline. Would this make it not valid for you. The 3rd one has the 3 point almost at the 1, would this also make a trade in valid for you. Then trade 4 is just how I would like to see price play out for a trade to be valid.

Some other questions. Do you ever take a trade based soley on divergence and AO cross if the 123 is not clear. Also when you enter on the BZ is it before or after the 2 break. Also with the BZ you say you use pit session, so does that mean only at 9:30 est and only once. Do you ever use the TTE.

Thanks[/quote. I would take any of those entries .The pattern is rarely perfect ,and price will not always follow the path that we have formed in our head . What I am trying to do is catch part of the elusive 3rd wave ,and the 123 ,tendlines ,ao cross , rat,etc.are only simple tools used to unravel it . I try not to analyze to much ...if it looks like a 123 ,breaks a trend line and crosses the so,(not necessarily in that order ...it is worth taking the shot ....Hop this answers some of your question ..

Thanks DC!!!

[PTG]

short term I think we could ge3t a nice sell.

gbpjpy-d1-oanda-division1.png
gbpjpy-h4-oanda-division1.png
gbpjpy-m15-oanda-division1.png

Nice call. I wasn't able to trade today, had other things to do (unfortunately). Selling started at London Open. Very nice.

[Mr. Hyde]

Only trade so far this week. I forgot to save it in real time yesterday, but you can see the setup clearly.

[dchappy]

ES at all time high ...123 forming w/ divergence ..possible opportunity ???

[dchappy]

ES at all time high ...123 forming w/ divergence ..possible opportunity ???

It was good for about 7 pts...

[dchappy]

http://coiledmarkets.com/blog1/2017/08/ ... rspective/ I have to agree with his analyses .The small ranges of the indexes has made it much harder to make a buck .Scalpers like Doji and others can still grind it out , but it isn't like a few yrs ago with 50 pt . days being the norm . On the ES , I have accepted the fact that 1-2 pts./day will be my goal until the MKT changes .FOREX still seems to be the best game in town even with smaller ranges .So in the future I plan to evolve into a swing /position taderr looking at 1h, 4 h or greater charts . Should be an interesting trip ...,.

[dchappy]

??,,.,..............

[Jalarupa]

Been noticing the range compression in this pair as well... been scalping it with super tight stops beyond a trendline...





But there have still been great swing plays in High Beta... just check EURNZD for example... Its been a massive position trade

[MightyOne]

I haven't touched a line chart in I don't know when.

Do you still use the 3 SMA?

#2 is always a breakout but traditionally it is included as part of the 1-2-3 pattern.

In my opinion, it is better to use 1-2-3 for tops and bottoms and look at triangles as mid-expansion patterns and try to continue the move.

for_dchappy.png (31.5 KiB) Viewed 3855 times

EDIT: found fault in pic and removed.