The USDCHF is comparable to all Dollar pairs in a consolidation and I like to see another leg higher within this consolidation. The 1 hour time frame shows a potential buy opportunity but we need to wait for confirmation because price might make a new low once again.
How do you use 1-2-3 reversal strategy to trade in the direction of the higher degree trend? Did mean to look out for 1-2-3 reversal pattern from the current retracement leg? i.e. an up, a down and a third up from the current price level of 0.96155 ?
a 1-2-3 reversal for me is only valid from the bottom (top) of a consolidation and should be used to enter in line with the trend. To be more conservative look for significant retrace in terms of price and time.