TIBszarinr

Trading Inside Bars –under this heading you will find analysis made on  basis of one of the most known Price Action formation – Inside Bar. Statistics show that best results gives breakout from Inside Bar formation on Daily chart, so mainly this time frame charts will be analysed.


The pair NZDUSD after yesterdays decision of Reserve Bank of New Zealand to leave interest rates (OCR) unchanged broke the lower level of the Inside Bar and continues to fall. On 6th of Feb we wrote about this pair and  formation of IB here. Now we can see a evident breakout thru the top which can be treated as a false breakout. In such case I’m bearish and will wait for retest of the broken lower  level of IB and go Short.

NZDUSD- a false breakout (red circle) and declines after RBNZ decision to leave OCR unchanged on level 1,75%
NZDUSD- a false breakout (red circle) and declines after RBNZ decision to leave OCR unchanged on level 1,75%

 

 

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Dargo
Since 2010, he has been actively involved in the Forex market up to now. He is a supporter of Price Action and using as few indicators as possible. He believes that the simplicity of the system and consistency in its application is the best way to success in financial markets, and lack of patience is the most frequent cause of failure. Interested in classical systems based on Technical Analysis and in psychology - mechanisms that guide human behavior and conditioning decision making in trading.