123 Patterns Strategy is very simple and profitable forex strategy. You can try this strategy on any major pair. Since this is a scalping technique, you should apply it on small timeframes. M15 (15 minutes) chats will be fine for this purpose.
Trading signals generated by “123 Patterns Strategy” is not complicated. Once you apply the indicator supplied on this page, you will see blue and orange lines on your chart. What we basically do is to wait for these lines to show up on the chart and we are going to buy when the price goes above the blue line (sell when the price goes below the orange line). Please have a look at the chart below:
As I mentioned at the beginning, this is a scalping method so 10 pips profit and 10 pips stop-loss may be suitable for our goal. Just get what you can get and close your position, we are not going to keep our position for hours. In some cases (trend line breakouts) you may go for more but don’t be greedy. I will show you another chart:
I am sure you noticed that the long blue line (left) acted as a support line for some time. Later on, the pair went below the orange line (right) and we got a sell signal. Since the pair broke its support line by the time we got our sell signal, you may choose to hold your position a bit longer for more pips.
Download 123 Patterns Strategy – Forex Scalping Strategy