In this educational video, I have described in detail how I trade the inside bar pattern. Specifically, I look for the failure of this pattern to go in the trend direction, states Fawad Razaqzada of Trading Candles.
The video is on the AUD/NZD, which fell to a new multi-week low beneath the 1.08 handle overnight. The move was triggered by the Reserve Bank of Australia’s rate decision, which weighed on all Aussie crosses.
Traders sold the Aussie following a “dovish” 25bp hike from the Reserve Bank of Australia. The RBA still promised more monetary tightening ahead, but the market sold the AUD anyway as the language softened on further rate increases.
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