123 Pattern Forex Trading Strategy with Multiple Time Frames

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This is a price action forexrebatenetwork strategy called the bestforexrebate Pattern Trading Strategy with Multiple Time Frames, what does multiple What is forex rebate frames mean? It means cashback forex you use a certain combination of time charts to watch the trade setups while the actual trades you take are made in smaller time frames The chart below shows a sell setup for a trend line trading strategy that is profitable by hundreds of pips looks easy but notice the time frame? What is happening in the 4 hour time frame, the 15 minute chart or the 5 minute chart? This is a 15 minute chart this is a 5 minute chart, just notice that after the price falls below the trend line and then tries to come back to test the trend line but the 3rd Whatisforexrebate never goes above point 1. So it is a valid 123 pattern so how do you trade the 123 pattern? Can you trade 123 patterns with every trendline? No. Then why not just use a trendline trading strategy? Because sometimes if you are not sure if price will break the trend line and go up (or down), then using this trading technique will at least give you more confidence in the breakout allowing you to buy or sell at point 2 The chart given above makes the rules of this strategy easy to understand: If you are watching the trend in a larger time frame trading setup, for example 4 hours, then when price reaches the trend line You switch to a smaller time frame and see if you can spot the 123 pattern If you see the 123 pattern forming, if it is a sell trade setup, you place your stop loss above point 3 If it is a buy trade, you can place your stop loss below point 3, with the final stop above or below point 1 Profit target can be 3 times the risk or use the previous swing high or low of the multiple time frame The advantages of the 123 pattern forex trading strategy 1. You will see that the risk-reward ratio of this forex trading system is very impressive and can easily make you hundreds of pips when the market conditions are perfect 2. Stop losses are placed most of the time in ideal positions (support and resistance levels), ensuring that the number of your stops is reduced

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