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Quoting harold4xDislikedheres how i trade the 123 thats different from his since there is a chance no reversal bar appears as well as there is no perpose in his fib its either 50 38 or 61 not just 50 as he explained there is also no trendline filter thats needed in the 123 setup take a look at chart i also use 15 min on eur/uds and gbp/usdIgnored
Quoting harold4xDislikednot taking anything away from your style donadoney but your charts are confusing and some of your 123s are in wrong place the whole purpose of 123 is the swings all part of the elliot wave sequence no you dont have to do all that counting i dont and it works very well for me firstly what i do at beginning of day is draw trendlines from low to high from day before and high to low i quess froming a trianle in a way then i simply wait for a breach of the trendline then i know then where 1 is and then 2 will form then i take the fibs and set order at 50% my risk is defined and my reward is defined in advance when price doesnt hit the 50% like the chart i am going to post you enter at the conventional place at a break of point 2 with stop at point 3 now if it did hit the 50% level and lets say height from point 1 to point 2 is 50 pips my stop is above point 1 and its 25 and my reward is 50 there fore you always have a 2 to 1 risk to reward and if you do the math if you are right 50% of the time you will make a nice living believe me check it outIgnored