121pattern
AUDJPY 121 BEARISH PATTERN AUDJPY has formed an 121 bearish pattern on its daily chart.
The price is trading below the entry level with potential targets projection
TP1 86.248
TP2 83.695
TRADE CHARTS PATTERNS LIKE THE PROS
5 GOLDEN RULES
1: The Trade Setup
The setup is the basic conditions that need to be present in order to even consider a trade. For example, if you're a charts patterns trader, then a pattern needs to be present. Your trading plan should define what a tradable chart pattern is (for your strategy). This will help you avoid trading when a chart pattern isn't there. Think of the "setup" as your reason for trading.
2: The Trade Trigger
If your reason for trading is present, you still need a precise event that tells you now is the time to trade
There are various methos using a trigger.
A Price action
B Moving averages
C Fibonacci
3: The Stop Loss
Having the right conditions for entry and knowing your trade trigger isn't enough to produce a good trade. The risk on that trade must also be managed with a stop-loss order. There are multiple ways to place a stop loss. For long trades, a stop loss is often placed just slightly below a recent swing low and for a short trade just slightly above a recent swing high.
Step 4: The Price Target
You now know that conditions are favourable for a trade, as well as where the entry point and stop loss will go. Next, consider the profit potential.
A profit target is based on something measurable and not just randomly chosen. Chart patterns, for example, provide targets based on the size of the pattern. Trend channels show where the price has had a tendency to reverse; if buying near the bottom of the channel, set a price target near the top of the channel.
5: The Reward-to-Risk
Strive to take trades only where the profit potential is greater than 1.5 times the risk. For example, losing $100 if the price reaches your stop loss means you should be making $150 or more if the target price is reached.
Other Considerations
The five-step test acts as a filter so that you're only taking trades that align with your strategy, ensuring that these trades provide good profit potential relative to the risk. Add in other steps to suit your trading style. For example, day traders may wish to avoid taking positions right before major economic numbers or a company's earnings are released. In this case, to take a trade, check the economic calendar and make sure no such events are scheduled for while you're likely to be in the trade.
The Bottom Line
Make sure conditions are suitable for trading a particular strategy. Set a trigger that tells you now is the time to act. Set a stop loss and target, and then determine if the reward outweighs the risk. If it does, take the trade; if it doesn't, look for a better opportunity. Consider other factors that may affect your trading, and implement additional steps if require.
This may seem like a tedious process, yet once you know your strategy and get used to the steps, it should take only a few seconds to run through the entire list.
EURJPY 121 BEARISH PATTERN EURJPY has formed a 121 bearish pattern on its hourly chart.
The price is trading below the entry level with possible targets projection
TP1 131.539
TP2 129.543
TRADE CHARTS PATTERNS LIKE THE PROS
5 GOLDEN RULES
1: The Trade Setup
The setup is the basic conditions that need to be present in order to even consider a trade. For example, if you're a charts patterns trader, then a pattern needs to be present. Your trading plan should define what a tradable chart pattern is (for your strategy). This will help you avoid trading when a chart pattern isn't there. Think of the "setup" as your reason for trading.
2: The Trade Trigger
If your reason for trading is present, you still need a precise event that tells you now is the time to trade
There are various methos using a trigger.
A Price action
B Moving averages
C Fibonacci
3: The Stop Loss
Having the right conditions for entry and knowing your trade trigger isn't enough to produce a good trade. The risk on that trade must also be managed with a stop-loss order. There are multiple ways to place a stop loss. For long trades, a stop loss is often placed just slightly below a recent swing low and for a short trade just slightly above a recent swing high.
Step 4: The Price Target
You now know that conditions are favourable for a trade, as well as where the entry point and stop loss will go. Next, consider the profit potential.
A profit target is based on something measurable and not just randomly chosen. Chart patterns, for example, provide targets based on the size of the pattern. Trend channels show where the price has had a tendency to reverse; if buying near the bottom of the channel, set a price target near the top of the channel.
5: The Reward-to-Risk
Strive to take trades only where the profit potential is greater than 1.5 times the risk. For example, losing $100 if the price reaches your stop loss means you should be making $150 or more if the target price is reached.
Other Considerations
The five-step test acts as a filter so that you're only taking trades that align with your strategy, ensuring that these trades provide good profit potential relative to the risk. Add in other steps to suit your trading style. For example, day traders may wish to avoid taking positions right before major economic numbers or a company's earnings are released. In this case, to take a trade, check the economic calendar and make sure no such events are scheduled for while you're likely to be in the trade.
The Bottom Line
Make sure conditions are suitable for trading a particular strategy. Set a trigger that tells you now is the time to act. Set a stop loss and target, and then determine if the reward outweighs the risk. If it does, take the trade; if it doesn't, look for a better opportunity. Consider other factors that may affect your trading, and implement additional steps if require.
This may seem like a tedious process, yet once you know your strategy and get used to the steps, it should take only a few seconds to run through the entire list.
DE30EUR 121 BULLISH PATTERN DE30EUR has formed a 121 bullish pattern on its minute chart.
The price is trading the entry level
EL 14415.5 with potential objectives to 121 TP1 14728.7
DAX 121 BULLISH PATTERN
💼EL 14415.5
⚠️SL 14369.5
🎯121 TP1 14728.7
🎯TP2 14942.8 78.6% XAD
DAX ABC BULLISH PATTERN
H1 WALL 14584.3 38.2% XAD
💼EL 14415.5
⚠️SL 14369.6
🎯TP1 14817.2 61.8% XAD
🎯TP2 14942.8 78.6% XAD
SPX500USD 121 BULLISH PATTERN SPX500USD has formed a 121 bullish pattern on its hourly chart.
The price is trading above the entry level 4182.3.
121 patterns are only valid here the price closes above the entry level with a confirmed uptrend .
US500 121 BULLISH PATTERN
💼EL 4182.3
⚠️SL 4134.0
🎯TP1 4261.7 61.8% ABC
🎯TP2 4294.4 78.6% ABC
🎯TP3 4337.0 100% SYMMETRY ABC
🎯
EURAUD 121 BULLISH PATTERN EA has formed a 121 bullish pattern on its daily chart. The price is trading above the entry level of 1.57970. 121 patterns are only valid when the price closes above the entry level with confirmed uptrend.
EURAUD
121 BULLISH PATTERN
💼 EL1.57970
⚠️ STP1.57289
🎯TP1 1.59872
🎯TP2 1.61455
🎯
BTC 121 Bullish HarmonicIt looks like we have a 121 Bullish harmonic setup here. I'm Long here and have been accumulating BTC/ALTs on these dips. I think if we break the 65-66k zone, we will continue moving up. Also, the 1H MACD is above to flip up. Stoch RSI/RSI is looking good; KDJ is flipping on the 2H and almost ready to flip on the 4 hr.
crude oil bullish 121 pattern daily chartHi guys, this is my new analysis on crude oil I think this week crude oil value will go high because of the price touched its bullish trend line of the parallel channel and nice price cluster too and made a bullish 121 pattern
also, it's good to see the RSI divergence.