1 of your 123. Example of a 123 Low on GBP/JPY. You can see the green dashed line and then price rockets to resistance. B long Trade, the long trade is an upward reversal following the 1-2-3 pattern forming from a previous downtrend. In other words, they fear they may lose the profits theyve got in place. Once price begins to retrace, put this currency pair on your radar. The first element to look for in a 123 high is a strong uptrend.
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Price rallies to this point and then begins to retrace back in the direction of the price at #1. Conclusion, the 1-2-3 reversal strategy must be rehearsed on a demo platform. Summary The 1 criptovalute previsioni febbraio 2018 2 3 trading strategy is a pure price action trading method that uses a sound approach to trading. The number 1 point occurs at a place where traders who were long in the market decide they need to secure the profits they made during the trend. The picture shows an hourly chart, but a 123 reversal can occur on any time frame since its showing you the emotions of traders and not necessarily depicting a particular event. In 2009, I was still doing that, but my 8000 account was now about 500 and I still couldnt make money.
At the same time, the US Dollar is in a downtrend against the Euro. Now youve got your initial 123 setup.