In his book How To Trade Stocks, Jesse Livermore, a legend among early 20th century American stock traders, introduced a price reversal pattern known as Jesse Livermore's Speculative Chart. This pricing model is described in his book page as follows.

We can see an upward consolidation (from No. 1 to No. 7) and the mouth of this accumulation widening, in contrast to the rising wedge pattern. After this accumulation area, the price bounced up to create peaks 8, 9 and 10 before making a high 11 lower than peak 9. At this point, we will wait to sell at the 12th retest peak.

Areas 10, 11, 12 form the 1-2-3 price pattern that we often use. We can wait to sell below number 11.