Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
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
Can you help answer these questions from other members on NexusFi?
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.
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...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.