we can mark the high and the low level of the inside range. Understanding what the inside bar means on a chart is useful information. What is most important is that the inside bar trading setup must adhere to pre-defined rules that the trader sets up per his own trading plan. The black levels point out to the patterns high and low. Heres another example of the pin bar and inside bar combo pattern. Lets see an Inside Day / Narrowest range of the last 4 days pattern ( ID NR4 ) on a price chart: We are now looking at the daily chart of the GBP/USD. The best time frame for trading inside bars.
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The power of this formation is hidden in the consolidative character of the formation. The inside day is a type of an inside bar pattern. The black horizontal lines on the image define the inside bar range the high and the low of the pattern. The initial breakout turned out to be a Pin Bar formation. The green arrow shows the successful legitimate forex brokers breakout of the inside day formation. When you see a pin bar followed by an inside bar or even multiple inside bars like we see in the example below, its time to take notice because you might have a potential trade entry on your hands.
The first thing we need to know about the price action inside bar strategy is that it works best on the higher time frames.
For those familiar with the way I trade, you know that I do about 90 of my trading on the daily time frame, with the other 10 spent on the 4-hour charts.
Outside, bars a good potential trading strategy?
In this post I show you real backtesting results and the pairs that have the most potential.
A pin bar is a price action strategy that shows rejection of price and indicates a potential reversal is imminent.
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