Yes , I follow what you are saying ...In this case I wasn't
Looking for a 123 ..... just waiting for price to bust out of the " squeeze" ( has to go somewhere right )
Simple as 1-2-3
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Re: Simple as 1-2-3
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Re: Simple as 1-2-3
. ,.........Absolutely...,MightyOne wrote: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
EDIT: found fault in pic and removed.
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Re: Simple as 1-2-3
Would you take this 1-2-3 or would you wait for the AO cross (AOX)?
Re: Simple as 1-2-3
Tall candles is always a good time/place to take profit.
Even if you were trading a larger chart you would want to exit and try to buy it back at a lower price...
or continue with half (ie the next largest chart) if it doesn't show signs of slowing down.
Even if you were trading a larger chart you would want to exit and try to buy it back at a lower price...
or continue with half (ie the next largest chart) if it doesn't show signs of slowing down.
Re: Simple as 1-2-3
I'm still following along with you
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Re: Simple as 1-2-3
This is how I imagine dchappy would draw the TL.
I don't usually see him draw a tight TL under a well defined expansion.
I don't usually see him draw a tight TL under a well defined expansion.
Re: Simple as 1-2-3
Common sense should tell everyone that dchappy is one of the very few people on this board that are true profitable traders.
Last edited by John S. on Fri Aug 25, 2017 10:55 pm, edited 3 times in total.
Re: Simple as 1-2-3
Most of the time I try to end (extend ) a trend line at the point where I think the AO will cross .This seems to do a couple of things . 1. Keeps me from entering too early ,, 2 .Will often give a good entry on a 123 TTE ......However the EJ is such a rollercoaster , any trader can just use a tend line without the AO , and do very well . It was very kind to us today ....
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Re: Simple as 1-2-3
dchappy wrote:Most of the time I try to end (extend ) a trend line at the point where I think the AO will cross .This seems to do a couple of things . 1. Keeps me from entering too early ,, 2 .Will often give a good entry on a 123 TTE ......However the EJ is such a rollercoaster , any trader can just use a tend line without the AO , and do very well . It was very kind to us today ....
Interesting.
Thanks for sharing dc!
Re: Simple as 1-2-3
MightyOne wrote:This is how I imagine dchappy would draw the TL.
I don't usually see him draw a tight TL under a well defined expansion.
for_me.png
Sorry ..missed this post ...but your correct ..I won't set a TL on this until the AO gets a little closer to the zero ...I'm flat now but may enter on a hook if it shows next week .
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