Journal of 123 Setups

toby · Jul 4, 2005

Quote from DTM:

G'day Persama. Nice to see you out here. Haven't followed your posts on ASF but will read it when I get a chance. I didn't have time to look at everything but out of your first three, only ITRI looks to be a goer. Actually, it looks very good. ASFI and CAND both look set to fall.

Just my two bobs worth.

G'day DTM and thanks for following my posts....

Brandonf · Jul 4, 2005

Quote from persama:

I'm hoping to set the ball rolling for a discussion of trading with 123 formations, after there's been some interest expressed in this method recently in other forums.

These 123 formations can be traded on virtually any instrument and any time-scale. Personally I use these setups to trade the highly volatile Nasdaq stocks by using daily charts.

You can always yahoo for "123 trading overview" to look for more information about the 123 formations.

I use a derivation of 123 system. Only I trade these setups for trend continuation instead of trend reversal as suggested by the original idea.

Let's hope we can get some interesting discussion going and find some good trades here.

You can find these setups daily on www.tradingscans.com and save yourself a lot of time in the research process.

Brandon

Andy62279 · Jul 4, 2005

Quote from FuturesTrader71:

I tried to find some info about the 1-2-3 system and I just get pointed to a bunch of snake-oil websites. Do you have the PDF or know where I might get it?

Thanks.

http://www.trading-naked.com/123-reversal.htm

sunnyskies · Jul 5, 2005

Grr. Like I said already there's probably 10 different setups called 1-2-3. Which one you trade? If you dont wanna say - say "i dont wanna say blablabla". But dont pretend you dont understand whats being asked.

Quote from toby:

I use a derivation of 123 system. Only I trade these setups for trend continuation instead of trend reversal as suggested by the original idea.

persama · Jul 5, 2005

Quote from sunnyskies:

Grr. Like I said already there's probably 10 different setups called 1-2-3. Which one you trade? If you dont wanna say - say "i dont wanna say blablabla". But dont pretend you dont understand whats being asked.

I've posted the link twice but the moderator was deleted it.....in the eyes of the ET administration, a commercial site and therefore it's not allowed.

persama · Jul 5, 2005

Watchlist for Jul 06, 2005

Potential 123 trades:

AMTD, ASFI, CAND, CTHR, DCGN, ENTU, ITRI, KOPN, OTIV, PGIC, SBAC, THOR

persama · Jul 6, 2005

Watchlist for Jul 07, 2005

Potential 123 trades:

ASFI, CAND, CTHR, DCGN, ENTU, ITRI, PANL, PGIC

Updates:

KOPN - Broke Point #2 ( 5.72 ). Recommended Initial Stop at 5.01

SBAC - Broke Point #2 ( 14.32 ). Recommended Initial Stop at 13.20

THOR - Broke Point #2 ( 15.93 ). Recommended Initial Stop at 15.02

AMTD - Lower High is formed. Trade abandoned.

OTIV - Lower High is formed. Trade abandoned.

persama · Jul 7, 2005

Watchlist for Jul 08, 2005

Potential 123 trades:

ASFI, CAND, CRXL, DCGN, ENTU, PANL

Updates:

CTHR - Lower High is formed. Trade abandoned.

ITRI - Lower High is formed. Trade abandoned.

DTM · Jul 7, 2005

Quote from persama:

ITRI - Lower High is formed. Trade abandoned.

I still think ITRI's going to go up. Price has consolidated and pressure is upwards now.

DTM · Jul 8, 2005

Quote from DTM:

I still think ITRI's going to go up. Price has consolidated and pressure is upwards now.

And there she goes. Up 78 cents within first hour/hour and half. Hope you caught that one Persama. Happened to be up making my 2 year old a bottle of milk when I decided to check. Good luck with it.

Back to bed for me now, its 1.30am here in Sydney.

Journal of 123 Setups

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