Search
  • Vasily Trader

EURJPY: Learn Classic Inside Bar Pattern (Trading Plan)



on ⚠️EURJPY we see a perfect example of Inside Bar candlestick pattern on a daily chart .


An inside bar is a series of candles that are contained within the range of the preceding bar (mother's bar).

This pattern indicates market consolidation and indecision.

Inside bars typically occur as a market consolidates after making a strong directional move, you also can see this pattern at key decision points like major support or resistance levels.


We trade this pattern only after bearish or bullish breakout of a mother's bar trading range. (daily candle close)


🟢In case of a daily candle close above the underlined range,

EURJPY will most likely continue growing.

Targets will be:

127.0

127.5


🔻In case of a daily candle close below the underlined range,

the pair will start falling.

Goal will be 125.0


Due to a long term bullish on EURJPY I am bullish biased and expect more growth.

But let's wait until the market makes the decision.

1 view
  • TradingView
  • Telegram
  • Instagram
  • YouTube
  • FaceBook
  • Twitter

©2020 by VasilyTrader