Submit by
Timmy
Moving Average Channel with 1-2-3
pattern is a price action strategy based on 1-2-3 pattern filtered by momentum and moving average channel. This strategy has a constant return but the profitability is not high so the key to
success with this strategy is money management. So if you use this strategy for day trading the money managemet must be developed on a weekly basis.
Time frame 5 min or
higher.
Currency pairs: major, mino,
Commodities, Indices and Stocks.
Apply this strategy only to
volatile pairs.
Metatrader 4
indicators:
Simple moving average 60 period
with level 15 and -15.
Non Lag Zig Zag (default
setting.
123 pattern
indicator
Pivot point levels only for
intraday trading for swing trading you can use weekly pivot.
Ferrux FX Multi
info
Trend
Strength.
Trading rules Moving Average
Channel with 1-2-3 pattern
trades only in the direction of the
trend
Price above 60 ma channel only
buy
price below 60 ma channel only
sell
Long
entry
Price above 60 ma
channel.
Buy arrow of the 1-2-3
patterns
Trend Strength
>50
Ferrux FX green the same time frame
and the previous (more high).
Short
entry
Price below 60 ma
channel.
sell arrow of the 1-2-3
patterns
Trend Strength
>50
Ferrux FX red the same time frame
and the previous (more high).
Exit position with predetermined
profit target minimum ratio 1.2 stop loss or on pivot points levels. Initial stop loss on the previous swing/high/low. Apply the moving stop loss.
Money Management Progression
Lots
1)
1-2-3-4-5-6-7-8-9-10....
2) Fibonacci sequence
1-1-2-3-5-8-13-17-24
Important each currency pair has
its own sequence. Do not mix a sequence on multiple currency pairs.
Why apply these very speculative
sequences? This 1-2-3 pattern although it does not have a high profitability has a good distribution of the winning trades.
I recommend starting with three
currency pairs maximum.
In pictures Moving Average Channel
with 1-2-3 pattern
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