DislikedWould this be a failed 123 formation? AUDCHF 4 HR setup, 1 HR trigger. Entry is when price broke the trendline and aspect #2. SL was eventually hit.Ignored
Look at the chart I marked up, what happened here is was the retracement fell down below a horizontal resistance and then bounced off that resistance a few times, then it finally did break on a momentum break without any pullback, I would have passed on that just because there was no pull back on the time frame shown, however sometimes you can zoom to a smaller time frame other than the normal trigger chart and there you might be able to see the reversal formation, however on this chart it was not there.
Hope that helps.