1-2-3 DOWNTREND

This works best as a reversal pattern so identify a previous uptrend

Wait for the MACD to signal a sell and for the 1-2-3 set up to be in place.

As the market pulls back to point 3, the MACD should remain in sell mode or just slightly dip into buy.

Place a buy entry order 1 pip below point 2

Place a stop loss order 1 pip above point 3

Measure the distance between point 2 and 3 and project that forward for your exit.

Example
 

Warning: include(/home/pano08/public_html/vitalstop.com/Forex/AB/B1.html) [function.include]: failed to open stream: No such file or directory in /home/pano08/public_html/vitalstop.com/Forex/Candle-Chart-Patterns/Chart-Patterns/1-2-3-downtrend.htm on line 56

Warning: include() [function.include]: Failed opening '/home/pano08/public_html/vitalstop.com/Forex/AB/B1.html' for inclusion (include_path='.:/usr/lib/php:/usr/local/lib/php') in /home/pano08/public_html/vitalstop.com/Forex/Candle-Chart-Patterns/Chart-Patterns/1-2-3-downtrend.htm on line 56
 
Return To Index