Simple as 1-2-3

[dchappy]

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 )

[dchappy]

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.

. ,.........Absolutely...,

[MightyOne]

Would you take this 1-2-3 or would you wait for the AO cross (AOX)?

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[MightyOne]

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.

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[MightyOne]

I'm still following along with you

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[MightyOne]

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.

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[John S.]

Common sense should tell everyone that dchappy is one of the very few people on this board that are true profitable traders.

[dchappy]

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 ....

[MightyOne]

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!

[dchappy]

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 .