I love 1 - 2 - 3 pattern trade

fer · #1 06-22-2008, 04:37 AM

1 - 2 - 3 pattern is a very simple and effective for us to catch a new trend at early point. I have tried it for a long time as a very profitable strategy. Combine123 patern with MACD or MAs or Stochastic or RSI... for corfirming information. Be patient to wait 3th point's candle to close. Entry at closing of 3th point's candle, set stop loss at point 2 (+/- spread +/-1). Use it on H1 or H4 chart for +50pips or more.
So simple and profitable!

ahmed22 · #2 06-22-2008, 06:17 AM

i work as chart like pattern trade it is really great way to earn more pip

fxtrendline · #3 06-22-2008, 11:48 PM

yes 1-2-3 pattern is the basic fx pattern that powerful, combine with highlow zigzag to catch the pattern

FerruFx · #4 06-22-2008, 11:49 PM

Quote:

Originally Posted by fer

1 - 2 - 3 pattern is a very simple and effective for us to catch a new trend at early point. I have tried it for a long time as a very profitable strategy. Combine123 patern with MACD or MAs or Stochastic or RSI... for corfirming information. Be patient to wait 3th point's candle to close. Entry at closing of 3th point's candle, set stop loss at point 2 (+/- spread +/-1). Use it on H1 or H4 chart for +50pips or more.
So simple and profitable!

Could you please post a chart or two showing an example of trade?

Thanks.

FerruFx

fer · #5 06-23-2008, 02:10 AM

Quote:

Originally Posted by FerruFx

Could you please post a chart or two showing an example of trade?

Thanks.

FerruFx

Just look at H1 chart of GBPCHF on Friday 06.20.08. Add RSI (14). You see? A very clear 123 pattern confirmed by RSI cross down 50 level line. Sold it at 2.0530, TP +50 pips reached.

I'm sorry I can't upload the image.

fer · #6 06-23-2008, 02:21 AM

See how EURUSD acts today. Look at H4 chart - stochastic (5,3,3) crossed down. It made a Lower High on H1. Wait it to break 1.5594 for a right 123 pattern, confirmed by price closing below 50 EMA on M30 chart. If it acts like that, sell it!

fer · #7 06-23-2008, 03:21 AM

123 pattern on GBPUSD H1?
Waiting for this candle to close below 1.9728. Waiting for RSI to cross down 50 level line. Then sell it!

fer · #8 06-23-2008, 05:07 AM

Quote:

Originally Posted by fer

123 pattern on GBPUSD H1?
Waiting for this candle to close below 1.9728. Waiting for RSI to cross down 50 level line. Then sell it!

OK now! Sell G/U at 1.9726.
Trade 2 lots.
1st lot TP at 1.9676.
2nd lot TP at 1.9626.
SL all of 2 lots at 1.9776.
When 1st lot reach TP, move SL of 2nd lot to BE.

rollgold · #9 06-23-2008, 05:15 AM

The trade looks good! Followed you.

rollgold · #10 06-23-2008, 05:46 AM

Quote:

Originally Posted by fer

See how EURUSD acts today. Look at H4 chart - stochastic (5,3,3) crossed down. It made a Lower High on H1. Wait it to break 1.5594 for a right 123 pattern, confirmed by price closing below 50 EMA on M30 chart. If it acts like that, sell it!

How about E/U? I see it moving down...