18# Inside Bar System II Forex Trading System
Submit by joy22
Time frame daily
Pairs:all.
Long Entry
• 21 SMA must be trending up and not flat.
• An inside bar must form.
• Place a buy order 5 pips +spread above the top of the inside bar.
• Place the required stop depending on the currency pair (see stop values)
• Place a take profit of twice the amount of the stop.
• Do not remove trade until either the entry is triggered or the 21 SMA
changes to a down direction.
Short Entry
• 21 SMA must be trending down and not flat.
• An inside bar must form.
• Place a sell order 5 pips +spread below the bottom of the inside bar.
• Place the required stop depending on the currency pair (see stop values)
• Place a take profit of twice the amount of the stop.
• Do not remove trade until either the entry is triggered or the 21 SMA
changes to an up direction.
Forex metatrader indicator: Inside Bar
we have two trade setups on the GBP/JPY, the 21 SMA is in
a clear down trend with no signs of turning flat. On the Friday an inside bar
formed and we placed our entry 5 pips below the bar with a 100 pip stop and a
200 pip profit target. 4 days passed with no market movement before our entry
was finally triggered taking us into profit almost immediately. Our take profit was
hit two days later with a profit of 200 pips.
The second trade was far more exciting triggering our order into the market the
very next day and hitting our profit target the following Monday with another
200 pips profit
2 in example #2 we have another 2 good examples of this system in action
on the EUR/USD, both inside bars formed with the 21 SMA sloping up indicating
we can only take buy trades. The first trade was looking a little grim as it
retraced against us after the entry day but it eventually hit our profit target of
100 pips 5 days later. The second trade shot into profit straight away and hit
our profit target the very next day.
Inside Bar Pattern
