Big inside bars shows likelihood of longer consolidation
Inside bars are a very strong pattern, and the longer we create more inside bars on the daily, the longer the upside or downside becomes.
In this case, the inside bars created have been VERY close to previous highs/lows, which means if this type of pattern holds we could see more inside bars for 2-5 days!
If it breaks (and breaks with volume) then the trade will become very simple and clear. Until then we are neither bullish nor bearish.
Good luck out there!
(Sorry for the color overload, just wanted to show each bar individually)
In this case, the inside bars created have been VERY close to previous highs/lows, which means if this type of pattern holds we could see more inside bars for 2-5 days!
If it breaks (and breaks with volume) then the trade will become very simple and clear. Until then we are neither bullish nor bearish.
Good luck out there!
(Sorry for the color overload, just wanted to show each bar individually)
Comment:
DOGE broke bearish but did not have the bear follow-through. It is now seeing big bull volume coming through. Proceed with caution! Good luck out there!