Inside
EURUSD forming sell signals as we know that this pair has very less trend, it is much choppy, Well we have a short signal in daily time frame,
There is inside bar setup after rejection from resistance, however it is not Key Level resistance but it is,
our entry is triggered after mother candle breakout and market is also getting rejection from mother candle which is indicator to show that it is ready to go down. don't forget to like my analysis. I hope it will help you in your trading. Thank you
NZDUSD on Key Level SupportNZDUSD is sitting on key level support in line with the bullish momentum. Price had just braked out on the recently created inside bar pattern, a consolidation-continuation pattern in the market. An ideal entry is a buy stop above the high of the pinbar and we have enough room for a decent risk to reward ratio. Trade Safely.
Inside Bar Pattern on EURAUDPrice is now sitting on key level of support and we have big room potential to the upside around 1.52000. Now price is forming an inside bar pattern, a potential breakout pattern to the upside. An ideal entry would be a buy stop entry above the high of the base bar. Trade safely
XAUUSD - Beware of the hanging ManNext graph will show why we did not trade the daily pin bar that formed last week. That pin bar on the daily chart was actually a hanging man candlestick.
For those of you who don't know what a hanging man is, it's basically a pin bar that forms at a swing high or low. The difference between this type of pin bar and the pin bars we want to trade is that the hanging man is inverted. It also typically occurs at support or resistance.
The hanging man doesn't mean the bulls have definitely lost control of a rally, therefore we don't use it as a sell signal. Instead we use it as an early warning sign that the rally may be coming to an end.
See below Gold daily chart of the hanging man: (Also note the three inside bars on the daily chart) See how to trade our Inside Bar Strategy
USDCAD Inside Bar SetupUSDCAD has been trending down for the past 3 months and for the last 4 days of trading activity it showed a strong retracement with several bullish reversal candlestick patterns that caused the form of a 2-day Inside Bar Setup with an Inside Pinbar Combination. Ideally a Buy-Stop Order at the High of the Mother Bar to capture the upward move with a stop loss at the low the recent bar and tight 1:1 RR Ratio for this Counter-Trend Move.
If a Fakey is formed, it is a signal that this Currency pair may resume its Downtrend and to capture that move a Sell-Stop Order below the low of the Mother Bar is ideal to go short going along its downward Momentum with a Stop-Loss at the high of the current bar formed.
USDCAD Inside Bar Set-upUSDCAD has been trending down for almost 3 months and for the last 4 days of trading activity it showed some strong bullish retracement forming a 2-day Inside Bar Set-up with a Pinbar Inside Combination. Usually a sign of an Upward momentum. Ideally a Buy-Stop order at the High of the 'Mother Bar' to catch the upward move with a stop loss on the low of the current bar with a 1:1 tight RR Ratio for a Counter-trend Move.
MRK Tight Consolidation Break - Long/Short (SAR)As I point out in the chart, MRK is in a very tight consolidation here. With the RSI holding inside of bullish territory after it's recent bounce off the 150EMA it has run into previous resistance. This resistance coincides with a sort of ascending triangle based on the higher-lows it has been making since March '14. This pattern comes to us after a long run up from Nov '13, leading me to have a bias for this play to the upside.
The goal here is to watch it intraday and get long one tick above the most recent bar high ($59.37). Alternatively, we will get short intraday at one tick below the most recent bar low ($58.89) and holding it short expecting a bounce off of the resistance.
The idea is to SAR (Stop & Reverse) the position on a close one tick above/below the same high/low, depending on how we entered.
This means we have $0.77 cents of risk either direction. With a target on the downside around $56.30 and to the upside $64.75 by conservative estimates, that gives us a favorable risk reward. All said and done, the thinking here is that with this tight consolidation at a key level, a big decision will be made here in the coming days, that will make a big play for us. What happens after these candles could be the deciding factor, and we may even see a candle that reinforces one direction over the other to help us in our decision.