Victor Sperandeo has created a beautiful Trend Reversal method known as 1-2-3 Reversal Setup. It is a reliable reversal setup and it occurs very often in all time frames. Drawing 1-2-3 is very simple as explained below
Draw a trendline from the highest high Point A to the lowest low (B) on the chart such that price does not cross the trendline until after the lowest low.
Find where price closes above the down-sloping trendline. This is shown in the chart as point 1.
Price tests a recent low. The recent low is at point B and the test is at point 2.
Price closes above a recent high(C) thus completes the 1-2-3 trend change method.
Those interested to learn can try the above setup and post their charts in comments.
Draw a trendline from the highest high Point A to the lowest low (B) on the chart such that price does not cross the trendline until after the lowest low.
Find where price closes above the down-sloping trendline. This is shown in the chart as point 1.
Price tests a recent low. The recent low is at point B and the test is at point 2.
Price closes above a recent high(C) thus completes the 1-2-3 trend change method.
Those interested to learn can try the above setup and post their charts in comments.
