Jeff Castille 

I remember when I first learned to identify a 1,2,3 pattern.......I was seeing them everywhere.......this can be a bit of a problem on a trend day......you'll 1,2,3 yourself right into the poor house. So be careful.......

Perhaps you and I are thinking of two different things. Trend days are where you can 1-2-3 yourself into the Hamptons. Chop days are where you'll find yourself in the poor house.

Blz

Blz17 

Perhaps you and I are thinking of two different things. Trend days are where you can 1-2-3 yourself into the Hamptons. Chop days are where you'll find yourself in the poor house. Blz

I think we need to clarify exactly what a 1,2,3 is. I think different people mean different things when they say 1,2,3. When I think of a 1,2,3 it's a reversal pattern. It's tough to trade a reversal pattern on a day when the market is not reversing.

Jeff Castille 

I remember when I first learned to identify a 1,2,3 pattern.......I was seeing them everywhere.......this can be a bit of a problem on a trend day......you'll 1,2,3 yourself right into the poor house. So be careful.......

Often a failed 1-2-3 is a good setup, which is also called an ABC correction:



price breaks below A but then reverses at C. You can enter after the reversal at C if you're confident and have some kind of confirmation (cycles, volume, breadth, etc.) or you can take the breakout above B.

Jeff Castille 

There is a Ninja 1,2,3.......I looked at it but it didn't make much sense to me......I didn't spend much time with it.....maybe I should look again. I don't know anything about this indicator.....other than it's called the NinjaPriceAction 123.....it's got a good name.... I just don't know if it works.

That's pretty strange indicator . I see lot of 2&3 but no 1

Jeff Castille 

To me simple is better..... I don't want to look at too many indicators. Besides, all indicators are doing is telling me is what the price is doing so.... why not learn to read price action? Some of the tools that help me do this are the 50 EMA and the 14 HMA with Sharky's ECO bars and a swing high/low.....that's it. Knowing what time of day is best to trade is also very helpful. 85% of daily price movement happens in the morning. So, for what it's worth.... here's my 2 cents. Check it out and let me know what you think. Jeff

Andrew,

Thanks. Could you show me as to how do I get these ECO bars on Ninja Trader?
Som

SOM123 

Andrew, Thanks. Could you show me as to how do I get these ECO bars on Ninja Trader? Som

Hey Som123,

Just go to the download area and go to page 9......it's the 5th one down.

Jeff...thanks for your post on $mgt.....I use the same rules, but I see how range bars remove the noise of a tick chart, especially on the YM. I have traded the Es a while but have lately liked the YM since it seems to give easier and closer pivots for stops and entering.

Great thread.....Take care

Hi Mahlon,
I am sorry if I missed it, but what is the histogram indicator in the second sub graph.

Thanks for posting

Mark

Mike

Is it possible to break this down? - 213 pages and counting is a little daunting (lol)

Mindset 

Mike Is it possible to break this down? - 213 pages and counting is a little daunting (lol)

Sure, here you go:

buy a breakout above a swing pivot, sell a breakdown below a swing pivot

If you want you can filter based on one or more moving averages or any other indicator.

Up to you to find the market, bar size, and filter indicators.

Give it a try and post some charts and we can help. I see you trade DIA, I am interested in how it works with DIA.

Good luck.