XEL 123 Low

Hi Remo,
As a novice keen to learn, I am interested in your experience of trading 123 lows, for example in the past say 5 times you traded one what's the success rate? By success I would define it as the pattern behaving as expected and achieving at least the target high as theoretically predicted by
1 + delta(1-2)

Nothing beats the human factor.
There are softwares that help with the supports but i find that there no match for the human factor.
Dont waste your money on them.

Count wrote: Hi Remo,

I have always just noted supports and resistances myself by eye from examination of historic charts, but is there simple reliable software available that readily produces accurate supports and resistances?

Thanks

Hi Remo,

I have always just noted supports and resistances myself by eye from examination of historic charts, but is there simple reliable software available that readily produces accurate supports and resistances?

Thanks

Thanks guys,

That was a nice little earner. Hopefully the start of me recovering my rather large losses on GKP! I'm a lot more cautious with my trades nowadays, not a bad thing ')

Thanks Richard for letting us know about this trade Thats what chartsview is about

SirRichardBunson wrote: A close above 75.50 would be the indicator

www.screencast.com/t/S4ghg5QcD

Supports: 75.5,,,63.75(gap),,,57.75
Resistance: 88.75,,,95,,,100(trend line),,,106.78




dl.dropboxusercontent.com/u/4899609/xel7thmay2014.png

Zoomed out view

dl.dropboxusercontent.com/u/4899609/xelzoomedout7thmay2014.png

The good thing about a 123 low breakout is the fact that it could be the start of a new up trend.So you could be getting into a share that has finally bottomed. Obviously now the best entry has gone but well done to the guys that have entered this at the breakout. This should be a free trade now and the rest of the positions can be left for a greedy trade.
Thats what trading is about, Taking profits.