123 Pattern (Title edited by Toxic on request)

[n4th4n]

to implement your strategy should be asked to read the market, knowing the price movement you can get a good strategy to earn better than no strategy at all

So, what trader are you? News Trader or Trade without strategy?

[n4th4n]

can we use this strategy also in down trend i mean reverse of buy?
if possible then please explain it with images and with more details.
also can i use zigzag indicator for this strategy?

Sure, we can use on up or down trend. HH & HL (3>1) is uptrend, LH & LL (3<1) is downtrend. See the attached screen shoot here. It's short and hit TP already.
In my opinion, Zigzag some time lagging too...but I don't know for sure coz I don't use it. You may use Fractal to help you find the Higher High and Lower Low. Fractal formula is: Finding the highest or lowest among 5 candles. This is the indicator that can help better than another indicator. But my suggestion, try to use naked chart can help you read the chart clearly....of course, you need to learn and practice frequently.

[n4th4n]

Another importance formula for 123 is momentum. We should calculate the momentum of current wave.
For example:If wave AB has range 100 pips and it needs 5 candles/bars, wave CD has range 100 Pips and it needs 12 candles/bars....it's the sign that both waves has difference momentum, it signed that there are imbalance, sign of reversal will occur soon.

[Nico]

yes, thats very simple theory to follow do buy or sell in right direction and gain PIPs. we hope that the condition like that will run in our trading lot and gain PIPs as theory, but we know that there is a risk that keep follow our plan.

[n4th4n]

yes, thats very simple theory to follow do buy or sell in right direction and gain PIPs. we hope that the condition like that will run in our trading lot and gain PIPs as theory, but we know that there is a risk that keep follow our plan.

Nothing is no risk....we trade with risk in front of us. Consider the risk first. Profit is the main goal, but every trade, we should calculate how many pips we can accept if we trade in wrong direction...it's risk. If Risk <= Reward....why don't we trade?

[n4th4n]

ddear n4th4n i am interest with your tekhnik but iam tipe trade if learn with example,,,, mybe its will be glad if you make an snapshotmof your open position and discuse in this room? and again could you put in here about indicator butterfly and how to use that??

Read from the first page. I've explained already. I also give some sample of my live trade already.
There is no indicator on my chart....butter fly is not and indicator, It's chart pattern and I draw it my self.
We can discuss here together....just upload your picture here and we'll analyze together....

[fxsmurf]

the elliot wave theory is quite complex and it takes only a professional to use and make money from it. this is not that simple, simple is using moving averages to make of and maybe bollinger bands.

[n4th4n]

the elliot wave theory is quite complex and it takes only a professional to use and make money from it. this is not that simple, simple is using moving averages to make of and maybe bollinger bands.

Moving average and bollinger band is calculated old data, they use previous Open, High, Low and Close data. Bollinger band is based on Moving Average....read here about Moving Average
Or you may watch this video regarding indicator and how to use it well.

[n4th4n]

Time to practice more and more to get used to with this simple strategy.
Don't forget to set SL to cover our capital.

[n4th4n]

Trading is all about keeping to your rules, no matter what happens. As long as we reain focus on our trading syste, and are followinf our trading rukles, we will always remain calm in all our tradings.

Discipline in our trading rules is key of success. All we have to do is ready to get the risk rather than reward. We should consider that trading is risky.