image Waiting patiently.

Trading is as simple as 1-2-3

Already a great thread.

Support and Resistance Method - Pharley

image Another "engineer" trade.

Trading is as simple as 1-2-3

image Waiting for trades to trigger.

Trading is as simple as 1-2-3

image Nice run at the bar[1] close. Stop still in place.

Trading is as simple as 1-2-3

image Trade still open. New daily low was not made this bar[0].

Trading is as simple as 1-2-3

image Entry at bar open. Stop in place.

Trading is as simple as 1-2-3

image This reversal trade is just as valid on daily charts.

Trading is as simple as 1-2-3

image This chart shows the reversals referred to earlier in post #295. Note how price reversed from the bottom bar[34] before the bar[34] broke above bar[35], breakout. This started the 200 pip move.

Trading is as simple as 1-2-3

image Next hour sells.

Trading is as simple as 1-2-3

image image image Next hour buys.

Trading is as simple as 1-2-3

image A bar makes a NEW DAILY high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar. A bar makes a NEW DAILY low and closes. Next bar fails to make a lower low and ...

Trading is as simple as 1-2-3

Reversals Reversals are start every major move. Reversals are the opposite of breakouts. In fact, reversals happen after a breakout. This is the cornerstone of the 1-2-3 strategy that is employed here. The daily closing price is rarely equal to the ...

Trading is as simple as 1-2-3

image Next hour.

Trading is as simple as 1-2-3

Hi Miche09, this was a trick question. Technically, the answer is no because the daily low is 1.31522 and the low of bar[1] is 1.31526. This reminds me of the old joke about the difference between a mathematician and an engineer. A mathematician and ...

Trading is as simple as 1-2-3

Correct.

Trading is as simple as 1-2-3

image Quiz: 2) valid entry at bar[0] open - true/false? Why or why not?

Trading is as simple as 1-2-3

image Quiz: 1) valid entry at bar[0] open - true/false? Why or why not?

Trading is as simple as 1-2-3

No trades on my scanner this hour. Recall an earlier post on this thread about patience and discipline. Rather than finding a trade that does not fit my criteria, forcing a trade, waiting is what is called for. Pure waiting. This would be ...

Trading is as simple as 1-2-3

image image Nice profit . A bar makes a NEW DAILY high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar. A bar makes a NEW DAILY low and closes. Next bar fails to ...

Trading is as simple as 1-2-3