Trading Trader Vics 123 Bearish

Trading Trader Vic's 1-2-3 Bearish Pattern

The example above illustrates Trader Vic's 1-2-3 "bearish setup" from the Gold futures 610 tick chart. Gold made a new high of 654 at bar (1). After a "new high," Gold retraced and traded lower to break the trend line at 651 (bar 2). Gold attempted to trade higher and re-tested trend line but could not close above it. After bar (4), prices closed below the low of bar(2) to signal a short trade.

1. Enter a "short" trade below the low of the "swing low" at 651.

2. Place a "stop" order just above the trend line at 654.

3. Place a "target" at the swing low prior to "new high" at 645.5

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