C1U_2
▲ Bullish
Streaming Alert (Scanner)
2 Minute 1-2-3 Continuation Buy Signal Alert (C1U_2)
Find stocks triggering a 1-2-3 continuation buy on the 2-minute chart in real time with Trade Ideas Streaming Alerts (Scanner). The 1-2-3 continuation buy pattern is a tall green bar, then a smaller bar that forms a mini double-top, then a break above bars 1 and 2. The signal fires as price clears that level.
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Streaming Alerts push each 2 Minute 1-2-3 Continuation Buy Signal alert on the print that triggers it.
How Trade Ideas finds it: In this pattern formation, a tall green bar is followed by a smaller green bar forming a mini-double-top on a 2 minute candlestick chart. See Trade Ideas plans and pricing to run it live.
How the 2 Minute 1-2-3 Continuation Buy Signal alert works
The "1-2-3 Continuation Buy Signal" is a frequently observed chart pattern in stock trading that signifies a potential continuation of an existing uptrend. Here is a more detailed breakdown of this pattern:
Pattern Description:
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Setup:
Bar 1: This initial bar is characterized by a significant upward move, forming a tall green bar. It represents a strong bullish momentum.
Bar 2: Following Bar 1, Bar 2 is comparatively smaller and often forms a mini-double-top with Bar 1. The smaller size indicates a temporary pause or consolidation within the uptrend.
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Pattern Formation:
Bars 1 and 2 collectively create a visual pattern resembling a mini-double-top, reinforcing the notion of a brief consolidation before a potential continuation of the uptrend.
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Trigger Action:
Buy Signal: Execute a buy order as soon as the price surpasses the highest point reached by Bars 1 and 2. This breakout serves as a confirmation of the potential continuation of the upward movement.
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Risk Management:
Stop-Loss Placement: To manage risk, place a stop-loss order at the lowest 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 Buy pattern suggests that the market is exhibiting resilience after a brief consolidation, signaling a potential resumption of the uptrend.
The buy signal is triggered by the breakout above the highest points of Bars 1 and 2, indicating a renewed bullish momentum.
Default settings
Example
In this pattern formation, a tall green bar is followed by a smaller green bar forming a mini-double-top on a 2 minute candlestick chart. By default, this alert will be triggered as soon as the price surpasses the highest 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 2-minute candlestick chart.
What the alert shows you
The description column of this scan will display "1-2-3 continuation buy 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 buy on the 2 minute chart?
Turn on the 2 Minute 1-2-3 Continuation Buy Signal alert (C1U_2) in Trade Ideas Streaming Alerts. In this pattern formation, a tall green bar is followed by a smaller green bar forming a mini-double-top on a 2 minute candlestick chart.
What is the 2 Minute 1-2-3 Continuation Buy Signal alert?
The 1-2-3 continuation buy pattern is a tall green bar, then a smaller bar that forms a mini double-top, then a break above bars 1 and 2. The signal fires as price clears that level.