Inside bar failure [video]
|In this educational video, I have described in detail how I trade the inside bar pattern. Specifically, I look for the failure of this pattern to go in the trend direction.
I was actually going to make this an analysis video last Friday but didn’t finish it. So instead, turned it into a timeless educational video so you guys can hopefully benefit from it.
The video is on the AUD/NZD, which fell to a new multi-week low beneath the 1.08 handle overnight. The move was triggered by the Reserve Bank of Australia’s rate decision, which weighed on all Aussie crosses.
Traders sold the Aussie following a “dovish” 25bp hike from the Reserve Bank of Australia. The RBA still promised more monetary tightening ahead, but the market sold the AUD anyway as the language softened on further rate increases.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.