EU - 5min so far today... — ...price was rising up to 7am (GMT), so waited for a short 123 setup to emerge. Using Paulus' def the first 123 formed for a short entry @3286/7...this has yet to reach a 1:1 target, but has already reached the ...

How to use the 123 strategy effectively

EU - 5M short 1 and 2 are in... — Edit: now void. Edit: Weekly & Monthly Pivot levels 3405-3410!

How to use the 123 strategy effectively

...another question — ...if i see an opposite 123 forming against a trade, do i let the trade breathe or do i move stops up to reduce risk/ protect profit/ breakeven, whatever the case may be?...i've decided to move the stop up to breakeven ...

How to use the 123 strategy effectively

EU 5M - long — As i'm inexperienced, i've decided to only focus on EUR/USD for 5min 123 setups. I'm thinking with enough time really getting to know how the pair moves and applying good discipline (something i'm working hard on ) to take the ...

How to use the 123 strategy effectively

EU 5Min Long — ...took the earlier EU 5M long, but using the traditional 123 def ie i didn't wait for more than 1 candle between 2 and 3, instead i took the fact that price had retraced to the qualifying fib retrace level (38.2 or 61.8 ...

How to use the 123 strategy effectively

...many thanks, Paulus, really appreciate you sharing your experience - this helps crystallise the thoughts I was having on this. Good patience, through the ECB news etc, you mus have good nerves....i was fearful of the spikes around ECB.

How to use the 123 strategy effectively

EU - 5min 123 short playing out now... — ...i've been finding the 138.2 fib extensions from the 1 to 2 swing are respected more often than not from these 5min set-ups, so i've taken half off there and moved stops to breakeven...i guess this ...

How to use the 123 strategy effectively

No mistake, Sir. You clearly have a method that is working for you...i'm much further back in the learning curve

How to use the 123 strategy effectively

...if we're pulling a long fib from 1 to 2, then a retracement to the 61.8% price of that swing has to be below the 50% price, surely??...it's semantics, i guess but it makes a big difference in qualifying the setups...i'm not trying to be pedantic, ...

How to use the 123 strategy effectively

Thanks for sharing your chart...have to be honest and say i'm not sure how you're trading it I don't expect you to tell me, by the way

How to use the 123 strategy effectively

P, just need to clear this up in my head. We had the successful short, so we're then looking for the long...the fib you pulled seems to be for shorts?

How to use the 123 strategy effectively

...i take it you've inadvertently pulled your fib the wrong way around?...we need 3098 or so for the 3.

How to use the 123 strategy effectively

P, what time do you tend to stop trading the 5min on EU? Edit:...apologies, found the answer in one of your earlier posts.

How to use the 123 strategy effectively

...and target hit (+39.9). I only risk 0.5% per trade on the 5min.

How to use the 123 strategy effectively

EU short playing out atm...not far off TP but likely to test supply again first, i guess.

How to use the 123 strategy effectively

Thanks Paulus.

How to use the 123 strategy effectively

..if, after a losing trade, do you still alternate the direction bias, or are you now looking for another 5min 123 short?

How to use the 123 strategy effectively

Nice - EU and EJ short 123s (5M) looming.....again Edit: EJ 123 short order cancelled. EU will probably follow too.

How to use the 123 strategy effectively

so, given your long bias on the higher tfs are you still adjusting the count on the 5M for the short....i take it your still waiting for the short swing 1 at the moment on EU 5M?

How to use the 123 strategy effectively