Quote:
Originally Posted by kagein
Hi Jimmy, could you explain the 1,2,3 on the 1min timeframe screenshot please..thanks
George
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It was meant as nothing more than an easy visual focus George.
I've mentioned the price structure behavior of lower highs & lows which tend to play out as price buffers & reacts to certain zones? that was simply annotated to show how it regularly conforms, is all.
There is actually a specific 1-2-3 technical reversal play out there which some traders utilize as prices reject a major swing level. If you wish to peruse that specific method then you can google it.
It's the (technical) right shoulder of a head & shoulders formation which isolates potential reversal plays across all timeframes.