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1-2-3 Reversal Chart Pattern

(as described by Vic Sperandeo in “Trader Vic: Methods of a Wall Street Master”)

1-2-3bot

  1. Trend line broken
  2. Lower high in an uptrend, or a higher low in a downtrend.
  3. Break below the previous low in an uptrend, or above the previous high in a downtrend

At point 3 the reversal is confirmed and everybody’s brother is getting short. A stop run often follows to re-test the penetration at point 3. Quicker traders may get short at the X, or even closer to the 2 based on other indicators (divergence, fibonacci retracement, bollinger band touch, etc.)

Nifty Review – 01-09-2009

Nifty Review - 01-09-2009Click here for full review: Market Today in English and in Tamil

Nifty Review – 31-08-2009

Nifty Review - 31-08-2009

Nifty Review - 31-08-2009

click here for full review – Market Today in English and in Tamil

Nifty Review – 26-08-2009

Nifty Review – 24-08-2009

Nifty Review – 20-08-2009

Nifty Review – Contd.

Nifty Review - Contd.Breaking 4460 next resistance is 4530

Long term Traders can enter long above 4530.

Nifty Review – 19-09-2009

Nifty Review – 18-08-2009