Get started

Inside Bar

This BTCUSD Inside day after new high was HUUUUUUGE!I posted this inside day trading plan on the Chinese version of tradingview on Wednesday. () The trade looks scary as it still suggest to buy at such a high level; while the idea of inside day after new high trade is all about trend continuation and momentum. If the momentum of the inside day breakout is able to take me to get my 1:1 1st kick, I create a FREE long position to join any possible follow through like now. I believe this is one of the very few trading techniques that is able to take part in such a rally logically (at least more logical than JUST BUY NO OUT strategy lol). And I got the 4810 1st kick and I still got the other half of my positions with my out @ 4800 , which creates opportunity for me to join the potential 5000 breakout without any pressure. What a great teaching materiel to show how effective the inside day trade is !!
BITSTAMP:BTCUSD
by Trader_Joe_Lee
10
SBUX bullish Cyper pattern with an inside day breakout.SBUX has an weekly cypher pattern and the entry point is right here, yesterday it was an inside day breakout but it didn't give great follow through. With regard to weekly level harmonic pattern, a small inside breakout may not be good enough to take as a confirmation entry. So my game plan will be: 1. pay attention to the intraday price movement to find an uptrend in smaller time frame and try to long. 2. create a long position with an out at 49.95, and a mid-term trade. 3. wait reversal sign like hammer and double bottom here as confirmation entry. Let's see how it goes and I'll update the trade here.
NASDAQ:SBUXLong
by Trader_Joe_Lee
2
XAUUSD inside day, a better short than the long case.XAUUSD has an inside day after an important shooting star, if it's able to break to the upside, it means the uptrend remains intact. While there will be a bearish Gartley pattern in 4hr chart with a potential short entry @ 1297, so even if if it's able to break to the upside, to long this inside day means we can only get the 1:1 1st kick above 1300 level, which is not really a good idea. On the other hand, if it's able to break to the downside, it can easily break 1280 as the short selling continuation, and I think it's a better trade as the 21ema is still @ 1273, so we can put the 1st kick bid around 1273 to play the price correction, although it's still less than 1:1, we can turn to smaller time frame to look for a better entry and better out.
FX:XAUUSD
by Trader_Joe_Lee
JD, Bullish Cypher patternJD.COM rallied from 20 to 49 within a year, and after it failed to break 49 fig level in 8/8 in addition to the earnings report in 8/8, it plunged about 20%. JD is one of the most competitive competitor with BABA, as this BABA rocket keeps on surging to the sky, JD should also be attractive to those who are too scared to buy BABA above $165. Based on this bullish Cypher pattern, it suggests to buy around 40. While as always, I need at least one more reason to convince me, so I'll focus on if there are 1. Hammer 2. Double bottom 3. inside bar breakout happened here , I don't mind if it happens on smaller time frame. If so, it might be a good try to long and the potential out is below 38.50.
NASDAQ:JDLong
by Trader_Joe_Lee
5
Inside day after earnings-SprintInside day after earnings is one of my favorite trade. Most stocks have much higher volatility on their earnings day and it creates lots of trading opportunities for short-term to mid-term trading. The philosophy of inside bar is about "neutral","choppy","wait","rest","digest", so an inside day after earnings is like the market still tries hard to figure out the earnings report. Therefore, when the other day the market is able to break either side, it's worth participating as there are many better analysts making their final decisions. The trade is to put a buy stop 1 cent higher the inside day high and put a sell stop 1 cent lower the inside day low, which means when it breaks to the upside first we long; when it breaks to the downside we short. I don't really suggest to trade this Sprint while it a good example for this trade today, let's see which way it breaks and how it goes!
NYSE:S
by Trader_Joe_Lee
USDCHF, best example for Harmonic pattern/Inside bar combinationAs I drew the huge daily BAT pattern last week, USDCHF gave an inside day after the D point of the BAT, and it broke to the upside as what I want to see. This combination provided a 200 pips bounce and a potential reversal; Most of the time, harmonic pattern trade actually fights with the current trend in the time frame given, so what we need to wait is reversal sign like inside bar breakout or double top/double bottom to confirm the trade.
by Trader_Joe_Lee
USDCAD 4hr shooter, looks deja vu right?USDCAD has a 4hr shooter after new session low, looks similar to my last artical about EURUSD! My idea again, is to short the breakdown despite it's already on the floor. Only 10-15 pips risk, worth trying! The mindset is like: I'm a normal guy, everyone who tried to catch the falling knife and tried to find a out on the chart to long USDCAD probably is already shaken out, then how could I believe I am so special to be the one that ends the winning streak?
Short
by Trader_Joe_Lee
USDCHF Daily Bat PatternUSDCHF completed the bat pattern today, to trade the bat perfectly we'll have to risk about 100pips. While like how I applied harmonic pattern these days, I'll wait for the following potential reversal sign to long USDCHF rather than put a buy limit to fight with the trend. 1. Significant inside bar breakout 2. Hammer 3. Double bottom Not only on the daily chart but also on smaller time frames, if the market didn't give any of these in any time frame, then I probably won't long this pair. If so, as a harmonic pattern learner, of course it's worth trying!
Long
by Trader_Joe_Lee
AUDUSD Inside 4 hour, outstanding risk-reward ratio!Inside bar setups work the best when there is momentum, and momentum comes from news, fundamental events, chart patterns, short squeezing, and many other ways. The 2 inside 4hr bars for AUD/USD implied great risk-reward ratio! 1st one only 25pips risk and gave an 150 pips move; 2nd one only 10 pips risk and gave an 90 pips move! The larger the time frame, the higher the winning percentage for inside bar trades. While frankly speaking, it's slightly higher than 50% winning percentage only (yes, like toss coins), but the point is it provides a great risk-reward ratio and able to make money even with 50% winning percentage. that's the whole story about inside bar setup.
Education
by Trader_Joe_Lee
USDCAD, Cypher+inside dayThis page is all about inside bars and harmonic patterns, and I got 1 potential trade that is in line with 2 of the strategy! USDCAD completed a huge Cypher pattern, while like what I said on COST (another harmonic + inside day breakout combination yesterday), I believe harmonic pattern needs to go with reversal/retracement sign rather than just put an anti-trend limit order. here I got the inside day and if it's able to break to the upside, I am turning a little bit bullish on USDCAD and will find some smaller time frame trades.
Long
by Trader_Joe_Lee
2
Another inside bar PARTY for XAUUSD on Friday after NFPLet's start from the beginning... My Inside bar trade will be: Entry: put buy/sell stop @ 1 cent above/below an inside bar that formed after an important level or a huge price movement to long/short. out: for long, 1 cent below inside bar low; for short, 1 cent above inside bar high 1st Price target: put half of the position off by limit order at 1:1 to the risk ( ex: entry@1220, out@1225, then put half of the position buy limit @ 1215). once the price reached 1st PT, that makes the trade at least risk-free, A.K.A a successful trade. Then I can do whatever I want to the rest of my position like trailing the price by adjusting stop with the trend, or book any profit I want. This set-up works the best when there is a huge news like NFP. Just like the USOIL last week, XAUUSD inside bars were AWESOME. After NFP, it gave 5 inside bars after new lows and all of them broke to the downside and became successful short. Even if you were willing to long the 6th inside bar that broke to the upside, it worked! While most of the time I prefer to trade inside bars that broke with the trend rather than broke against the trend.
FX:XAUUSD
by Trader_Joe_Lee