Trading simple 1-2-3 and swing patterns

[caxxejok15]

I exchange 1-2-3 reversal/swing setups as explained in my two previous journal threads, Simple 1-2-3 PA Reversal Scalps and Another Journal, so please consult with these threads for detailed descriptions of the set-ups. The attachment below is basically how I trade swing reversals - not always always strict 1-2-3 patterns. My purpose is to enter a transaction with the least possible perceived risk. These approaches can be traded any time frame and on almost any currency pair; I exchange 5 min to 60 min time frames based upon my work schedule. Both approaches are really straightforward to execute, and most significantly for me, don't require using lagging indiors or other mathematical manipulations of price data to ascertain whether to buy or sell. Are these patterns profitable? Yep. Win rate of ~ 50% with a lot of scratch trades and small losses that are manageable. My Holy grail? Yep, so long as I strictly stick to my stoploss and permit my profitable trades to operate as long as you can within the time frame I'm trading.

Https://www.nigeriaforextrading.com/attachments/15274227221050026253.jpg


Anyhow, I'll be Pleased to answer questions.

Best,

Dave

As usual, I'll edit this first article to ensure that descriptions of the transaction setups are clear and unambiguous. But please be aware that I don't have any strict rules to what constitutes a good swing or 1-2-3 pattern. The market will move wherever it wants to proceed, and my goal as stated above, is to input with the cheapest perceived risk as possible.

Interesting link that relates to trading: http://www.professionalgambler.com/Winperct.html

[caxxejok15]

You showed no 123 setups at all you must have different standards for 123s Yep. A mixture of traditional 1-2-3 patterns and swing patterns. The picture shown in post 1 are simple swing patterns; simple 1-2-3 installations were clarified in my prior threads as noted in article 1. Rigidity to rigorous pattern rules is not needed to profitably trade these kinds of market movement- other than to abide by the stoploss. I will say that the patterns that I trade are adapting to swing patterns described by William Dunnigan's One Way Formula printed in the 1950's.


Greatest,

Dave

Edit: shown below are a few 1-2-3 patterns. As shown in the pictures, I don't wait for price to break above the high of pub #3 to input buy trade, or break below the low of pub #3 to input a market, I utilize the high/low of pub 1, it just depends on how price moves after a new swing pub is made. The most important thing is that reversals take several forms: flawless patterns and ugly patterns can both be profitable and be unprofitable. We simply don't understand how much price will directionally move subsequent to the creation of the swing bar, so the secret is to strictly abide by the stoploss.

https://www.nigeriaforextrading.com/attachments/1527422716.jpg
https://www.nigeriaforextrading.com/attachments/1527422717.jpg

[isoxpl]

I'm a strict 123 pattern Man along with 2b setups good luck to you

[caxxejok15]

I'm a strict 123 pattern guy together with 2b setups good luck to you Consistently the best for you too Divergence. I'll read through your thread. My philosophy is that everybody transactions otherwise and whatever works for you is your own Holy Grail.


Dave

[isoxpl]

Get acquainted with market profile

[caxxejok15]

Then familiarize yourself with market profile I am knowledgeable about the Market Profile... I browse Steidlmayer's first book Market Logic, lol, along with Dalton's book on Market Profile Auction market theory.

Dave

[isoxpl]

I can't trade without it by the way I don't Exchange Foreign Exchange but the nq

[isoxpl]

You Revealed no 123 Installations Whatsoever you must have different criteria for 123s