2B or not 2B? — Hi Paulus, thanks for posting your charts and can you say why you didn't take the possible 2Bs I've marked on the 2 charts. Was it because there was no trendline break? thanks Sean

How to use the 123 strategy effectively

Thanks very much for the charts and explanation Paulus and could you possible clarify why you take 6.00 am GMT to be the end of the Asian session? According to url Sydney finishes at 5.00am GMT, Tokyo finishes at 7.00am GMT and Frankfurt starts at ...

How to use the 123 strategy effectively

Hi Paulus, do you mind posting the charts. I assume EU was the long that triggered around 14: 20 GMT?

How to use the 123 strategy effectively

Yes good point about only 1 green candle to point 3.

How to use the 123 strategy effectively

I forgot to mention that in the 200 tick chart, the yellow lines are the high and low of the 1st 15 mins of the session open (in this NY) and can also act as S/R levels

How to use the 123 strategy effectively

the importance of targets — Here's a trade I took on GBPUSD a few hours ago. It was stopped out after I took the screen shots but it shows how important it is to take into account support and resistance levels. The first chart is at MT4 with ...

How to use the 123 strategy effectively

I second that, it's really good to see charts posted as I'm still learning this method so any help is appreciated

How to use the 123 strategy effectively

Different timeframes confirm entry — Here's something I just noticed on GBPUSD this morning. Unfortunately I slept through my alarm and missed it but on the 15 min we have a 2B setup. Drill down to the 1 minute and we have a 123. Both give the ...

How to use the 123 strategy effectively

I agree with Jason about the high pip setups. I've been backtesting AUDUSD and the best setups seem to be around 10 - 15 pips however messy it looks. For me to go for a high Pip setup, I would have to take account of longer term S/R and trend before ...

How to use the 123 strategy effectively

I got the same GBP trade as you CW but missed the earlier one as it all looked a bit messy. EUR also didn't look good and I ended up with 2 losers (both long). The short that you just showed Pres looked much cleaner and we had also hit a TL on the ...

How to use the 123 strategy effectively

Same here. I notice that you used a different SL to Paulus (below the 3 rather than the 1) which gives you a better R:R. Is that always the case or do you determine your SL by any other method?

How to use the 123 strategy effectively

EURUSD long — Just entered on this EURUSD long so lets see how this one works out. Only on demo at the moment.

How to use the 123 strategy effectively

EUR 123 long — I'm using an Alpari UK demo and it shows the 3 low was still higher than the 1 so the trade was valid. I've just checked my Forex.com and it shows it as being the same level. Maybe one way to make sure is not take anything with ...

How to use the 123 strategy effectively

Got it and thanks for helping me out. I can now see the earlier entry but as I wasn't watching the chart live, my eye was drawn to the setup I pointed out. If trading live the setup Paulus used was the 1st reversal and also gave a better entry price

How to use the 123 strategy effectively

Hi Paulus. Did you enter GU long before the break of 2? On my chart the 2 level was 1.5480 . . . .maybe you entered on the trendline break or have I missed something.

How to use the 123 strategy effectively

Re: EURUSD Weekly — Just to play Devils advocate this is another interpretation of the EURUSD weekly. We have a trendline break and retest together with a Bearish outside engulfing bar (last weeks inverted hammer) and a possible Zorro move. ...

Trade What You See - Almost Naked Trading

I'm a UK citizen and have just applied for an account in the US. I filled in a W-8BEN form which is Certificate of Foreign Status of Beneficial Owner for United States Tax Witholding. In other words by filling in this form I don't have to pay US tax. ...

Trade What You See - Almost Naked Trading

My guess is because although price had made 1 lower high, it hadn't made a lower low so at least another lower low gives confidence that the trend has changed to down

Part 2 EURUSD Trend magic System

I use Heiken Ashi candles as opposed to the 'normal' candles you are showing. Yeah, 7 WMA on the 5 pip plan. Thanks for that, all makes sense now.

EUR/GBP Trendmagic System

Charts look different — Hi Edge I've just set up my chart with your settings and have noticed that the candles look different. At first I assumed it was because I was using a different broker but I've just set it up again on IBFX with the same ...

EUR/GBP Trendmagic System