Inside Bar party for USOIL short sellers.
To begin with, yesterday was an inside day for USOIL and it broke to the downside .
An inside day breaking to the downside may be a trade itself or a bearish view to find smaller time frame set-ups to short.
In terms of hourly chart, almost all inside hour short set-ups worked!
Inside bar is a great strategy to be involved with a trend by very little risk, so when there is a downtrend, finding inside bars as short set-ups can be a solid strategy.
In terms of risk, I may put my out to the initial bar high if the range of the inside bar is just to narrow;
also, it's better to combine EMA as an indicator to see if the out catches 8EMA or 21EMA--to avoid being shaken out by a little bit price correction.
There will be lots of inside bars during consolidation and none of them worth trading; while inside bars on important spot like higher highs or lower lows are definitely worth watching.
As the directions thy broke translate the initial upside/downside moves for you!
In recent USOIL examples, I only look for inside bars on important spots that broke to the DOWNSIDE (as the inside day breaking to the downside created an bearish view)
and many of which gave great continuations.
An inside day breaking to the downside may be a trade itself or a bearish view to find smaller time frame set-ups to short.
In terms of hourly chart, almost all inside hour short set-ups worked!
Inside bar is a great strategy to be involved with a trend by very little risk, so when there is a downtrend, finding inside bars as short set-ups can be a solid strategy.
In terms of risk, I may put my out to the initial bar high if the range of the inside bar is just to narrow;
also, it's better to combine EMA as an indicator to see if the out catches 8EMA or 21EMA--to avoid being shaken out by a little bit price correction.
There will be lots of inside bars during consolidation and none of them worth trading; while inside bars on important spot like higher highs or lower lows are definitely worth watching.
As the directions thy broke translate the initial upside/downside moves for you!
In recent USOIL examples, I only look for inside bars on important spots that broke to the DOWNSIDE (as the inside day breaking to the downside created an bearish view)
and many of which gave great continuations.
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