C1D_60
▼ Bearish
Streaming Alert (Scanner)
60 Minute 1-2-3 Continuation Sell Signal Alert (C1D_60)
Find stocks triggering a 1-2-3 continuation sell on the 60-minute chart in real time with Trade Ideas Streaming Alerts (Scanner). The 1-2-3 continuation sell pattern is a tall red bar, then a smaller bar that forms a mini double-bottom, then a break below bars 1 and 2. The signal fires as price clears that level.
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Streaming Alerts push each 60 Minute 1-2-3 Continuation Sell Signal alert on the print that triggers it.
How Trade Ideas finds it: In this pattern formation, a tall red bar is followed by a smaller red bar forming a mini-double-bottom on a 60 minute candlestick chart. See Trade Ideas plans and pricing to run it live.
How the 60 Minute 1-2-3 Continuation Sell Signal alert works
The "1-2-3 Continuation Sell Signal" is a commonly observed chart pattern in stock trading, signaling a potential continuation of an existing downtrend. Here is a detailed breakdown of this pattern:
Pattern Description:
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Setup:
Bar 1: This initial bar is characterized by a substantial downward move, forming a tall red bar. It represents a strong bearish momentum.
Bar 2: Following Bar 1, Bar 2 is comparatively smaller and often forms a mini-double-bottom with Bar 1. The smaller size indicates a temporary pause or consolidation within the downtrend.
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Pattern Formation:
Bars 1 and 2 collectively create a visual pattern resembling a mini-double-bottom, suggesting a brief consolidation before a potential continuation of the downtrend.
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Trigger Action:
Sell Signal: Execute a sell order as soon as the price falls below the lowest point reached by Bars 1 and 2. This breakdown serves as confirmation of the potential continuation of the downward movement.
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Risk Management:
Stop-Loss Placement: To manage risk, place a stop-loss order at the highest point of Bar 2. This strategic placement helps protect against adverse price movements and potential trend reversals.
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Interpretation:
The 1-2-3 Continuation Sell pattern suggests that the market is showing resilience after a brief consolidation, signaling a potential resumption of the downtrend.
The sell signal is triggered by the breakdown below the lowest points of Bars 1 and 2, indicating a renewed bearish momentum.
Default settings
Example
In this pattern formation, a tall red bar is followed by a smaller red bar forming a mini-double-bottom on a 60 minute candlestick chart. By default, this alert will be triggered as soon as the price falls below the lowest point reached by Bars 1 and 2. To align with each alert, it's essential to utilize the corresponding time frame on the chart. For instance, this alert is visualized on the 60-minute candlestick chart.
What the alert shows you
The description column of this scan will display "1-2-3 continuation sell signal", providing you with a clear indication of the specific alert that has been triggered. The description will also guide you on the optimal price to set for your stop-loss order.
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FAQ
Find stocks forming a 1-2-3 continuation sell on the 60 minute chart?
Turn on the 60 Minute 1-2-3 Continuation Sell Signal alert (C1D_60) in Trade Ideas Streaming Alerts. In this pattern formation, a tall red bar is followed by a smaller red bar forming a mini-double-bottom on a 60 minute candlestick chart.
What is the 60 Minute 1-2-3 Continuation Sell Signal alert?
The 1-2-3 continuation sell pattern is a tall red bar, then a smaller bar that forms a mini double-bottom, then a break below bars 1 and 2. The signal fires as price clears that level.