Timeframe: Any
Recommend pair: Any major pair
Indicator: Double Inside Bar
Platform: MT4, TradingView
Long trade setup
Entry
The price should be in an uptrend. The bar next to the inside bars should be a bullish one. Wait for the price action to continue in the uptrend and then take a position.
Take-profit
Set TP at the high of the first bar or a recent high from the entry point.
Stop-loss
Place a stop-loss order at the low of the first bar.
Example:
In the chart below, right after the formation of the double inside the bar, the price broke and started trending upwards.
Long trade setup
Short trade setup
Entry
The price should be in the downtrend. The bar next to the inside bars should be a bearish one. Wait for the price action to continue downward and then take a position.
Take-profit
Set TP at the low of the first bar or a recent low from the entry point.
Stop-loss
Place a stop-loss order at the high of the first bar.
Example:
In the chart below, right after the formation of the double inside bar, the price broke and started trending downwards.
Short trade setup
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