Potential Trading Opportunity - USDCHF The Inside Bar Pattern : 11/9/2020

 

USD/CHF H4  - potential shorting opportunity

currently price is within 0.91095 and 0.90826, the general  bias is bearish , price is already below my favourite EMA's .

Formation of the inside bar pattern and break our from it will give us a good opportunity to sell , that is if it breaks to the downwards .

if it breaks above the pattern , the signal will be invalid , no trading opportunity. 

tell me what you think about the set up. 

Trades September 2020

  EURUSD - SHORT POSITION : 9/9/2020 TIME 12:00 - Closed 

   GBPCAD - SHORT POSITION : 9/9/2020  TIME 12:00 - Closed 

CHFJPY - LONG POSITION : 10/9/2020 TIME 12:00 - Active 

    NZDCHF - SHORT POSITION : 11/9/2020 TIME 04:00 - Closed 

    NZDUSD - SHORT POSITION : 11/9/2020 TIME 04:00 - Active

    USDCAD - LONG POSITION : 11/9/2020 TIME 04:00  - Active

     CADCHF- SHORT POSITION : 11/9/2020 TIME 13:00 -  Active

USDCHF- SHORT POSITION : 14/9/2020 TIME 04:00-  Active

NZDCAD- LONG POSITION : 15/9/2020 TIME 04:00 - Active

Potential Trading Opportunity - The Inside Bar Pattern : 9/9/2020

 1. USD / ZAR - 9/9/2020 ; H4 Timeframe 

My favourite moving averages are aligned upwards and price is above them , formation of the inside bar pattern between 16.9620 and 16.8409 shows me that the war between bulls and the bears has taken a break , i will wait for a break out of the pattern for me to go long. MACD histogram showing us precence of bullish power . 

currently the time is 9:48  wait for noon so as to take the set up if price gives us the signal. 

2. GBP/CAD -  9/9/2020 ; H4  Timeframe 

Moving averages are aligned downward and price is below them , formation of the inside bar pattern between 1.72189 and 1.71590 shows me that the war between bulls and the bears has taken a break , i will wait for a break out of the pattern for me to go short. MACD histogram showing us precence of bear power but price is the king we wait for it . 

currently the time is 9:54  wait for noon so as to take the set up if price gives us the signal

2. AUD/NZD -  9/9/2020 ; H4  Timeframe - Price at Resistance Zone 

For this pair price is at a resistance zone around 1.08971 intrestingly we also have a red trendline that has been tested twice in the past, formation of an inside bar pattern tells us  to pause and observe what happens next - if it breaks above the pattern we get a long position if it breaks below it then short we go. 

I intend  to take only a position that goes  according to my plan which is very simple follow the trend and i use the inside bar to solve the puzzle . 

Here is the trade i placed - GBP/CAD - short trade 

Read more about the inside bar pattern