Forex trading strategy #4-a (1-2-3, RSI + MACD)

Additional comments to add to 5-21 message

You can add EMA 20 and CCI 14 ( for Divergence ) to Trader Vic's 1-2-3 .

George F.

Oops , go the " naked guy" again. He suggests using 20 EMA for trend , and CCI 14 for DIvergence , along with " Trader Vic's " 1-2-3

method. Study BOTH of his chart examples. Any feedback on this is welcome . Remember , Vic 's version gets you in a trade earlier than

the price that is projected from point 2 .

Oh yes , I also use CCI for help on Exit confirmation .

George F.

Hey guys -

Go to trading-naked.com/123-reversal.htm

Vic Sperandeo , a master trader , invented 1-2-3.

You do not need anything else . No moving averages , MACD ,

etc .

Just price action and trendlines.

George F .

I read it next way:

Red is the Pivot point line.
Blue are resistance lines, white - support lines.

Make sure you look at indicator settings, there a lots of options based on what Pivot lines you want to see on the chart.

Pivots points are used for the reference to know where to expect market reversals. Therefore, stops and profit orders are placed around Pivot lines.

Regarding the basic use of Pivot points, let me recommend you this free e-book:
http://www.fxpivot-points.com/

Regards,
Edward

Hi Edward,

How do you read your auto pivot pt. There's the red line and then there's 3 blue lines and 3 white lines. Where do you take profit and where do you put your stop loss using your auto pivot pt? Pls help. Thanks! I have really benefited from your website and I thank God for people like you who are so willing to help others.

Here it goes:

Fractals.mq4

Regards,
Edward

Hi Lino/Edward,
Would appreciate if you could post the fractals indicator as well. Thanks!
Raj

Hi

Yes, you wait for each candles close, move your entry order up on each candles low price.

The stop is the high of point 3, targets is a tricky one but a conservative target is a 1:1 ratio as in example.

I used a different platform and Moving averages just to show you that its more the price action than indicators.

Hope that helps, Cheers Lino

Lino,

Need clarfication. The entry point is at the low of previous, low of candle 3?
what's the recommended SL & TP? Thanks for your time.

Ooops, here is the chart :)

Hello

I agree with Thomas, start with simple strategy #13, then google forex 123 strategies, read as much as you can till you understand it. There is alot of info on the net free.

I am just trying to add to this wonderful strategy, cheeky i know :)

Here is another example using 123 setup and urban towers strategy, If i have not mentioned i got this strategy from urbanforex.com

Please start with simple strategy #13 and also review the comments to the strategy - this should help to understand the logic behind 123 trading method.

If any doubts or questions remain, please feel free to ask.

hello
I'm a newbie and looking to start trading on the forex market. I like this strategy but I don't completely understand how you determine the 1,2,3 points. I would truly appreciate some help on the basics of how to determine when to enter and when to exit a trade. Again just a newbie in need of some assistance. Thanks everyone.

Hi Raj,

I have this one: Auto_Pivot_mod.mq4

Regards,
Edward

Hi Edward
Could you also provide Pivot indicator as well.? Thanks!
Raj