By now you should have already read what the 121 pattern is (also know as One2One or 1-to-1) -> 121 pattern definition, its Reversal and Continuation versions-> Reversal and Continuation 121 pattern
You should also have read about the importance of the pattern location and the power that comes with it -> 121 pattern and Elliot Wave theory
Enough theory for now. What reall matters in the end is that we look here at probably the most powerful and profitable price pattern forming on the charts. When you see its first 3 legs completed and the emerging swing CD crossing over the 50% of AB swing distance - GET READY. Now your work starts.
See the following diagram presenting the moment (price location) where it's worth to observe the emerging 121 pattern. Attempts trying to prognose potential 121 pattern before price reaches presented point is in our opinion loss of time, efforts and money.
For more info about 121 / One2One pattern and the confirmation methods see -> 121 - table of content
Last edited by kor4x; 08-19-2012 at 09:17 PM. Reason: 121 pattern: Trade Identification - Updated