Entry rules: Once the price makes it through the “S/L Line” - dotted white line on the figure below (drawn using the latest price peak) - and closes above (for uptrend) or below (for downtrend) the line buy/sell accordingly
Exit rules: not set. However, exit can be found using Fibonacci method; or traders can measure the distance between point 2 and point 3 and project it on the chart for exit.
Additions: as an additional tool traders can use TicksSeparateVolume The rules for entry then will be next - let’s take a SELL order
When Both Ema lines cross downwards, you look for 1-2-3 set-up to form. When the price starts “attacking” the “S/L Line” you check that volume directions is still in SELL mode (two lines are heading down). Once the price closes below the “S/l Line” – place Sell order.
another site example https://www.forexmt4indicators.com/forex-1-2-3-strategy-price-action-strategy/
Exit rules: not set. However, exit can be found using Fibonacci method; or traders can measure the distance between point 2 and point 3 and project it on the chart for exit.
Additions: as an additional tool traders can use TicksSeparateVolume The rules for entry then will be next - let’s take a SELL order
When Both Ema lines cross downwards, you look for 1-2-3 set-up to form. When the price starts “attacking” the “S/L Line” you check that volume directions is still in SELL mode (two lines are heading down). Once the price closes below the “S/l Line” – place Sell order.
another site example https://www.forexmt4indicators.com/forex-1-2-3-strategy-price-action-strategy/
Attached Image (click to enlarge)
Attached File(s)
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