Yesterday on NQ / ES was a nice example of a failed 1- 2 -3 Pattern on the 30 minute timeframe. I like to think of it more of a re-test of a point of accumulation / distribution. I believe that it failed because there just was not enough momentum built in that 30 minute chart to offset the bearish tones of the 4 hour chart.
the simplest strategy that works
- Thread starter padutrader
- Start date
chart please.
it is important that the entry order be placed by more than 2 ticks maybe 3 ticks -it may vary depending on what is being traded-this is for eurusd
simple does not mean it will not fail : but it takes 10 seconds to learn this strategy unlike 10 years to learn bpa.
at least while you are learning bpa, you can trade make money be in a good mood so you will learn much faster
i am sorry i do not get NQ my broker does not give me
if you tell me which broker you are using i will open a demo and then i can see it on my own
you can use the 123 as a setup to enter when you see some other bearish /bullish signal like a wedge.this is what i have done in my latest trade.a wedge formed and then sell 123 this is a breakout strategy so allow for breakout pull back or even breakout failure see chart
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pl a name of broker any broker where i can see
CLOSED THE TRADE
a lesson learn't is do not trade this pattern when the market is is a channel type of trading behavior: can you see the difference in the charts of eurusd and audusd posted below?. it is better to trade the aussie,audusd