JamesEvison
Long

GOLD - Double Inside Bar BUY strategy with Order + SL levels

TVC:GOLD   CFDs on Gold (US$ / OZ)
DOUBLE INSIDE BAR STRATEGY
- This price action forms when two consecutive bars close within both the high and low of the previous candle
- 1st bar known as the "mother bar"
- 2nd bar forms within the high and low set by the "mother bar"
- 3rd bar forms within the high and low of the initial inside bar before it
- Price action indicates low volatility in the market + consolidation
- Double inside bar breakouts tend to be much larger on average when compared to the conventional single inside bar trade

*** EXTREMELY bullish trend prior to this price action forming gives bias to an upside breakout

- Typically, a buy stop order would be set a few pips above the high of the 1st inside bar
- A Stop loss would then be set just below the 1st inside bars low

*** If price were to start moving south, then the same would apply but the other way round, so a SELL stop would be set below the low of the 1st inside bar , with the SL being set above the high of the 1st inside bar

THIS IS NOT A TRADE CALL.
Very nice description and long analysis mate.
+1 Reply
GOLD AND SILVER GOING SKY HIGH!!!!!!!!!!!!!
+2 Reply
Excellent analysis!
+2 Reply
thank you
+2 Reply
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