VasilyPonomarev
Long

AUDUSD Update: Classic Reversal Formation

FX:AUDUSD   Australian Dollar / U.S. Dollar

on AUDUSD we have a perfect example of Inside Bar candlestick pattern formation on a 4h chart .

An inside bar is a series of bars or sometimes just one bar that is contained within the range of the preceding bar (mother bar).
The first rule that we should take into account is that inside bars should close strictly within the range of the mother bar.
The second rule is that we trade this pattern only after bearish or bullish breakout of a mother bar trading range.

The logic behind the inside bar is simple. It indicates a time of indecision and market consolidation. Inside bars typically occur as a market consolidates after making a large directional move ( bearish on AUDUSD ) and at key decision points like major support or resistance levels.
The side of the breakout of the range most of the time indicates the market future direction.

Please, support the idea with like and comment! thank you!
Feb 05
Trade closed: target reached: breakeven the position and keep making money.
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Comments

nice update. thank you.
supplementary to the above.
usdcad daily best level to short for 180/280 points (UPDATED).
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Nice one mate!!
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Thanks...
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thanks for a heads-up
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as always brother your analysis - clear chart - simple yet very accurate!
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@LCFXpro, thank you brother!!! appreciate your feedback :)
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I am long since 0.6708 so have already picked up a small profit. My main target is 0.677.
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VasilyPonomarev morganzebb88
@morganzebb88, wow! that is cool brother!
good luck!
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A NICE IDEA. BROTHER
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@forexhelper, thank you so much!
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