PRICE ACTION 123 METHOD REVIEW

Pattern identification starts with identifying the 1-2-3 movement of the price action on the charts. The daily chart provides room for such analysis, though the 4-hr chart can also be used as a substitute. These charts are used for trend identification. True market reversals are predicted from the true trend. Smaller time frame charts do not show the true trend as they only reflect intraday market movements.


Click Here to Download A NEW Trading Tool and Strategy For FREE

Once the trend is identified, the next step is to identify the 1-2-3 pattern when it occurs. The “1-2-3” sequence is the move the price action makes prior to the reversal. The price action moves in the trend and either tops out or bottoms out at point 1, moves in the opposite direction as a retracement to point 2, then moves back in the initial trend direction to a point 3 which represents a Fibonacci retracement level of a line 1-2, then the price action moves in the reversal mode from point 3, taking out a key level of support or resistance formed by point 2 in its path.

price-action
So identification of the 1-2-3 reversal setup requires an understanding of these points:
You need a trend line tool to draw the line from point 1 to 2.
You need the Fibonacci retracement tool to identify the 38.2% or 50% retracement of a line drawn from point 1 to 2, which is lower than point 1 in an uptrend and higher than point 1 in a downtrend.
The retracement level is point 3.
Understanding the extent of retracement will therefore aid the trader as to where the entry for the reversal trades will be made.”

Forex Price Action Indicator Million Dollar Question

So i am simply curious should anyone ever established ones Forex Price Action Indicator for this purpose Indy. I simply looked in the signs the idea dirt relating to the chart. Most of the blocking dealing feels really outstanding. People get the purpose that Forex Price Action Indicator fails to repaint. Nevertheless, *when* should it just point out that transmission? Do you find it in the tight in the pinbar again, and will do that will show up following your FOLLOWING (or a few? ) watering hole shuts? When in the tight, this is superior. When following your following watering hole and a few, much less superior.


Click Here to Download A NEW Trading Tool and Strategy For FREE

Will there ever be a more recent edition? As i spot the internet site that EA plugs is right now useless. Considering quite possibly able to take into consideration spreading that mq4 origin? As i might like to modification that criteria average joe to provide even more signs with rungs as compared to precisely what the idea now red flags. Without worrying about the origin, We could just get precisely what the idea supplies together with filtering people.
forex price action

Some sort of trillion most people get contemplated together with sampled pinbar EA’s. It is especially challenging to undertake. Lost I often complete much better, nevertheless I might check it out for.