USDJPY – Buying A Breakout From Multiple Inside Bar Pattern
Price Action: Price formed a Bullish Multi-Bar Fakey Setup late last week (yet to trigger).
Price had been forming a Multiple Inside Bar Pattern since last Monday (We suggested trading this pattern in the May 6, daily newsletter).
Price moved higher from the prior Bullish Multi-Bar Fakey Setup that had formed over a week ago (We suggested trading the pullback to this setup in the April 28th, members' daily newsletter).
Potential Trade Idea 1: For more aggressive traders, we are considering buying on a breakout above the current Multiple Inside Bar Pattern (Which will also result in the Multi Bar Fakey Triggering).
Potential Trade Idea 2: We are considering buying on a retracement lower to within the range of the prior Bullish Multi-Bar Fakey Setup.
Price Action: Price formed a Bullish Multi-Bar Fakey Setup late last week (yet to trigger).
Price had been forming a Multiple Inside Bar Pattern since last Monday (We suggested trading this pattern in the May 6, daily newsletter).
Price moved higher from the prior Bullish Multi-Bar Fakey Setup that had formed over a week ago (We suggested trading the pullback to this setup in the April 28th, members' daily newsletter).
Potential Trade Idea 1: For more aggressive traders, we are considering buying on a breakout above the current Multiple Inside Bar Pattern (Which will also result in the Multi Bar Fakey Triggering).
Potential Trade Idea 2: We are considering buying on a retracement lower to within the range of the prior Bullish Multi-Bar Fakey Setup.