Don`t read this thread..Make Money with it. - page 16

[SIMBA]

New Pattern And New Entry

NEW PATTERN: Trader`s Vic 1-2-3 Pattern...Concept: Failed test of previous lows or highs +breakout/breakdown in the opposite direction

A-Prices make a temporary low(1 in the attached chart).

B-Price breaks out to the upside breaking the downtrend as defined by a trendline.

C-Price goes back and approach previous lows ..but fails to test the area(2 in the attached chart).

D-Price breaks out the previous swing high(3 in the attached chart)..triggering a long entry.

Just the opposite rules apply for highs and short entries.

Stop: Place a stop below the swing low (1 in the attached chart)

Target: Previous swing high area.

My comments:

Stops: I suggest to use stops at bar close in the same timeframe that triggered the entry,you can place them either below 1,below 2,or below the trendline..It depends on what your target is and what Reward to Risk ratio the target&stop combination imply for the trade...and,once profitable,you can use a trailing stop like chandelier or even psar to manage the trade.

NEW ENTRY : Long AUDUSD @ 0.9315..STOP: H1 Close below 0.9225(below 2..slippage ,etc)..TARGET: Around 0.9470..previous area of Highs.

Please see attached chart.

Regards

Simba

[SIMBA]

Audusd Closed +72 Pips

AUDUSD Long @ 0.9315 closed @ 0.9387 for +72 pips profit

Regards

Simba

[Guyver]

SIMBA:
AUDUSD Long @ 0.9315 closed @ 0.9387 for +72 pips profit

Regards

Simba

Hi Simba,

Good to see the author has covered 1-2-3 patterns as well. As they say Old is Gold

[mpower]

SIMBA:
Skyline...congratulations,hope you enjoy it and that you can contribute to the debate and the thread like jbfx and mpower are doing ..and hopefully other members will do too ...sooner or later

Regards

Simba

P.S:Non dimenticare di fare tutti i test necessari per sapere quali sono i pattern che vanno meglio al tuo stile di trading ..ciao

Simba speaks Italian too:-)

Good trading, great progress

[SIMBA]

New Entry

NEW ENTRY: Short GBPCHF @ 2.0058...STOP:M15 Close above 2.0157(trendline from previous highs)..Target:1.9820 area...Pattern:2B Sell on m15

Regards

Simba

[jturns23]

Thank you Simba! I look forward to all your new posts!

[SIMBA]

Gbpchf Closed:-151 Pips

GBPCHF Short @ 2.0058 closed @ 2.0209 after an m15 close above the trendline(see attached),for a Loss of -151 pips.

Will post detailed statement end of this day.

Regards

Simba

[SIMBA]

Detailed Statement

Detailed statement..For the moment it is too early to judge,only 25 trades so far,anyway doesn`t look bad ..

Looks like today the G7 central banks lead a nasty concerted action to drive home their point..They bought USD and Gbp like crazy(Trichet has mentioned twice that the eurgbp rate was "irrational"..but that is what markets are,,aren`t they? )..and they sold Gold , Euro,JPYand CHF as if there were no tomorrow..will see the end result,interesting week ahead .

Regards

Simba

[hoss]

GU 30 min

Would this have been a valid dragon signal on the GU 30 min? Thanks in advance.

[SIMBA]

valid dragon?

hoss:
Would this have been a valid dragon signal on the GU 30 min? Thanks in advance.

Hoss,thanks for contributing..It looks like the second leg is longer than 127% of the first leg`s length,so,if this is so,it doesn`t qualify as a Dragon(ratio of second to first leg should be from 0.618 to 1.27)..additionally the Hump doesn`t look like a 0.38 to 0.5 retracement.

Regards

Simba