Thread: 121 pattern rules

based on my understood. here is the chart.

if we are in the bearish XABCD chart, find two highs, two lows, now we are going to find the potential D, third high and sell the pair.

ideal, the D should have a bearish ABCD, you can see a potential region (CD=(0.886-1.13* AB). D should have retrace from XC and BC, this will allow us to short the retracement at potentially reversal zone. if we can see from wave, XA should be wave A, and AB should be B, and if BC can be named as C1, then we are going to sell at last leg of C3 and against the wave C2. the minimal target must be C and best target should be DE=BC, we should know there will be another bullish ABCD pattern now if price hit the E.


anyway, try to find out the timeframe above 30 min.

Thanks holyskychen, ive been looking for a clear explanation of this for a while now. The picture is gradually getting clearer. so the main thing is that the cd leg should be in the 0.886-1.13 range. Nice work

this is the perfect location for the 121 pattern - "running correction", ... and impulse wave follows.

location:

just saw this pattern and miss some pips. However, it is a very good example to show price action in one2one, ABCD and gartley/batman pattern.

This is exactly what I am looking for all the time on a 15 or 5 min chart....Can this be alarmed for email or text?
I am reading as much as my pea brain will handle...

I believe there is an alarm for this green or red box pattern... I'd like someone in the know to comfirm that for me and maybe tell me how to exactly alarm only those 121 patterns... thank you.