CADJPY FAKEOUT Pattern
● A Fake breakout is a classic price action pattern.
● These setups can best be described as a false breakout from an inside bar pattern
● They can happen with an engulfing or pinbar candlestick pattern
Have a look at the chart above:
● Price was sitting at the 50% Fibonacci level and formed inside bars
● Then we got the breakout below the support zone, the market was bought very quickly and no candle was closed below the outside bar (golden rectangle)
→ Resulting in a Fake Insidebar Breakout pattern.
❗️When looking for trade opportunities always stack the odds in your favor!
❗️In this case we have a support zone, fibonacci level and price action signal.
● These setups can best be described as a false breakout from an inside bar pattern
● They can happen with an engulfing or pinbar candlestick pattern
Have a look at the chart above:
● Price was sitting at the 50% Fibonacci level and formed inside bars
● Then we got the breakout below the support zone, the market was bought very quickly and no candle was closed below the outside bar (golden rectangle)
→ Resulting in a Fake Insidebar Breakout pattern.
❗️When looking for trade opportunities always stack the odds in your favor!
❗️In this case we have a support zone, fibonacci level and price action signal.
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