London session — The day after Thanksgiving called Black Friday in North America. Markets there very quiet as expected. London opened on growing volume and bearish bias. Bulls did little to defend 1.33 Interesting drop in volume 12:15-1:15 GMT ...

123PatternsV6 revisited

Economics — G'day sako, welcome to the thread. Your input is welcome. Just this week I started summer school at Massey University studying economics. Learning to think like an economist is useful and relevant to trading. Anyone want a fun, ...

123PatternsV6 revisited

Week 2 no change, no trades — My second week in the challenge, and I'm sorry to say I haven't even got going yet. Sure, lots of excuses but fact is I didn't make the grade. When I get this right hopefully I'll be humble about it

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link to ZigZag article — Welcome lefteye, I agree it is a bit of a mystery how zigzag actually works. Here is a link to a basic ZigZag article.

123PatternsV6 revisited

Distorted bearish pattern — Welcome PartyPips, good question. Just before I answer that take another look at your 123 numbering. 2 is always in the direction you expect the price to move. So for a bearish pattern 2 is the always the lowest ...

123PatternsV6 revisited

Not a great day for the bulls — Yes my failed trade was similar setup although earlier. I was feeling too much pressure to get into a trade. If the bulls were in control I don't think we would see all that price action below 50 fib. The other ...

123PatternsV6 revisited

Aggressive vs Conservative entry — My preference is always conservative entry inside the zone. Aggressive does work sometimes even with a tight SL, scalpers probably do well with it grabbing some quick pips on the break of 2. The sequence that ...

123PatternsV6 revisited

12 hours battle — Hi emb, yes I agree at the time you wrote that it was a bullish picture. Bearish interest was seen in candles below the buy zone. Later, three separate attempts closing below 50% showed persistent bearish interest. image As ...

123PatternsV6 revisited

London session picture perfect — Picture perfect structure on London's bearish session yesterday. Everything I'm looking for including no candles closing above the 50% fibo after the break. image Global markets generally looking oversold now ...

123PatternsV6 revisited

Price action in the buy/sell zone — Thanks spacePip for bringing this to our attention. Your explanation and the PDF you provided both make good sense to me in the context of what we are trying to achieve. The PDF provides sufficient ...

123PatternsV6 revisited

We are looking for a solution — Emb, I agree with you and I'm glad you're participating in the main goal of this thread. Thanks for your comments. The last several posts have been sidetracking, that's OK it is useful, but now I need to get ...

123PatternsV6 revisited

Price Bars meaning ? — Nice post spacePip, I'm not sure what you mean about avoiding price bars, do you mean 'constant rangebar charts' which yes I am avoiding those. In a rangebar chart all the bars are the same height but their time ...

123PatternsV6 revisited

Arrows mia — Welcome wallstreet03, I suggest you label the three previous price points 1 2 3 and then you may be able to see what is happening. I can see why the blue arrow did not print at that time you highlight. If you have ...

123PatternsV6 revisited

How to find and enter a trade — Sure will do. Remember the reason this thread exists is to develop the ideas further from what we were doing a year ago, hence the title "123PatternsV6 revisited". Sell zones and buy zones are well described in ...

123PatternsV6 revisited

Reply to alrightfrank — Frank, kamusta ang buhay ? I am looking for liquidity > average so that means trading 6:30 to 18:30 GMT (12 hours of good liquidity). I use 123PatternsV6 on M5 to gain understanding of correct use. Later I may migrate ...

123PatternsV6 revisited

What data can I ignore ? — As a forex trader, what data can I ignore? More specifically, when looking for trade setups, what data can be ignored? This is a question I asked in a poll last year. Many traders have many systems and various rules. ...

123PatternsV6 revisited

Where to place buy limit orders ? — My general rule is placing the buy limit orders inside the buy zone. In the chart you posted there is a problem because some candles are closing below 3. That is bearish. So, in that specific situation I ...

123PatternsV6 revisited

Reply to davidtrader — They are both drawn correctly. It is a matter of choosing which one you prefer. I prefer 2-1 in that situation. What concerns me is that your chart shows prices breaking below #3, that is a bearish sign for sure. image ...

123PatternsV6 revisited