1-2-3 Formations & Ross Hooks

[timsk]

Once upon a time, these were popular technical analysis (TA) patterns. Any old hands who have long since forgotten what they are - or new members who have not yet come across them - can (re)learn about them in these clear and comprehensive articles hidden away in the bowels of T2W . . .

1-2-3 Formations
Ross Hooks

So, I'm wondering, do any of you use 1-2-3 formations and Ross Hooks and are they still a useful component in the trader's toolbox? Discuss!
Tim.

PS. I forgot to say, anyone who is impressed with the articles I've linked to can find loads more on a huge array of topics here

 

[barjon]

Yes, I still use 1,2,3 for exits

 

[timsk]

Yes, I still use 1,2,3 for exits

Hi Jon,
I know it doesn't happen very often, but on the occasions the market reverses without forming a 1-2-3 pattern, do you have a back up pattern to exit trades that protects your profits?
Tim.

 

[barjon]

Most exits are to target unless I see convincing momentum through the "kill zone".

When I'm in "bonus land" (better than target) I'll use 1,2,3 or adverse momentum. Also use the same to protect my necessary minimum requirement of 1.5:1 when required.

 

[NVP]

Once upon a time, these were popular technical analysis (TA) patterns. Any old hands who have long since forgotten what they are - or new members who have not yet come across them - can (re)learn about them in these clear and comprehensive articles hidden away in the bowels of T2W . . .

1-2-3 Formations
Ross Hooks

So, I'm wondering, do any of you use 1-2-3 formations and Ross Hooks and are they still a useful component in the trader's toolbox? Discuss!
Tim.

PS. I forgot to say, anyone who is impressed with the articles I've linked to can find loads more on a huge array of topics here

guys a legend ........and he still offers some great insights into other areas of trading as well

N

 

[neil]

guys a legend ........and he still offers some great insights into other areas of trading as well

N

Ha - just realised I have been trading off support and resistance (price pivot zones) which is "mostly" same thing as 123 trades.

 

[wackypete2]

I usually just close my eyes, count 1..2..3, then hit BUY.

Peter

 

[wackypete2]

ok more serious... I trade forex lower time frames and the 123 method is not nearly as good as it once was. Too much money pushing price around that whip traders out with small stops. 4h and daily charts it still is very useful.

Peter