Sharing with you a video of the basic 123 trend reversal pattern from the people who is teaching me the smart money trading strategy. This pattern explains the fundamentals of an uptrend and downtrend on which a violation of these fundamentals opens a possibility of a trend reversal.
There are specific criterion that you will need to consider when trading this trend reversal pattern. This will also be more effective if it is in an area of confluence which means various items are within the area like, trend lines, moving averages, Fibonacci retracement, Pivot points, previous high or low, or basically support and resistance areas.
To learn more about the smart money trading strategy you can check out their website mentioned on the video. I'm learning a lot from these guys and they are also reinforcing the basics of forex trading which is what I'm doing in this site because the basics of forex trading will help you in becoming successful in forex trading.
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