Hey! The 123 system can be effective with the right approach. Here’s a basic strategy:
- Entry: Enter at the break of the 3rd point (the end of the retracement).
- Stop Loss: Place it just below the low of point 1 (for a buy) or above point 1 (for a sell).
- Take Profit: Aim for a risk/reward ratio of 2:1 or higher; target a previous support/resistance level.