FX:NZDUSD   New Zealand Dollar/U.S. Dollar
73 4 2
I trade a lot of inside bar and i spotted this inside bar on the NZD USD.
You see on my chart i marked inside bar in purple.

Before i trade a inside bar i want to see a bit of trend. In this case thats there so were good to go.

Then i handle it as a breakout trade, i place pending orders both buy and sell and use the high and the low of the inside bar as entry point and stop.

There is no target, the Exit is end of day. In this case if a pending order is triggered, close it at the end of day, in this case the end of Monday.



UPDATE MONDAY 20JULY2015
In tradingview chart the long trade was triggered, and can be closed tonight with profit.

In my real broker account also the sell order was triggered and also stoploss was triggered.
there i had 1% loss, but due to the small profit on the buy order, i suffer < 1% on this particular trade.
jangseohee
a year ago
so you mean, if price is higher than your upper red line, you long
and if price goes lower than your lower red line, you short?
Reply
minimal_risk jangseohee
a year ago
indeed, it is meant to follow whatever the direction of the market is. if the price rises above the high of the inside bar go long. (pending stop buy order)
if the market moves down, (lower then the lowest inside bar value) then follow that downlward strength with a short. (pending stop sell order.)
both orders are protected with stoploss at the other side of the bar.

Yes there is a chance that the market reverses and both orders are hit. thats why you only want to place these kind of orders when theres a trend. in a choppy market you will take more losses.
+1 Reply
minimal_risk minimal_risk
a year ago
for example look at the inside bar of 2015-06-19 and the following trading day 2015-06-22.
During the trading day the market moves down, it triggers the sell order at the bottom (0.68888) and at the end of the day close the trade with nice profit (@ 0.68619)

you see in choppy market (februari) it performs bad but there are good examples of profit 03-19, 04-06, 04-09, 04-24, 06-03.
+1 Reply
minimal_risk minimal_risk
a year ago
another nice example is the inside bar of 19th of januari. if you had risked 1% on that trade you would have made almost 3%
+1 Reply
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