Powerful 123 Forex Breakout Strategy

The 123 Forex breakout strategy is based on a very popular

price action technique that can be very profitable if done
correctly.

1 2 3 Trading Pattern Formation

In any trending market, there is a pattern of higher highs
and higher lows.

In order for the trend to the upside to remain active, each

successive impulse swing must take out the point 2 in the
formation.

When price surpasses the price at #2, the trader can use
that as confirmation that the 1 2 3 chart pattern is present.

This is a line chart that explains the concept of the 1 2 3

trading pattern and in this case, we are assuming an up
trending market.

See image below:

Let’s walk through each number and this pattern should be
familiar to any trader who’s been looking at charts for a
while.

1. When an uptrend pulls back, it will put in a low and

from that low, price continues to rally.
2. This acts as short term potential resistance. Price rallies
to this point and then begins to retrace back in the
direction of the price at #1.
We DO NOT want to see price retrace all the way to the
price at #1.
If it does, we will consider that to be the formation of a
double bottom chart pattern and would trade that
according to the trading plan you have set up for that price
pattern.
3. This level is also considered a #1 only when the price
level at #2 is broken. This price point is the level at which
the corrective move completes and the price reversal to the
upside begins.
Please note that the 1 2 3 price pattern is only confirmed
once the high at point #2 is taken out by price.
You can also see that the 1 2 3 trading strategy is taking
advantage of the stair step nature of the market that is
needed if a trend is going to continue.
It is at the confirmation of the patter that a trader can place
a conservative trading position in the market.

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Some Chart Examples

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