In this example we have a DOUBLE INSIDE DAY. Which is far, far more powerful than a standard inside day.
What is it? It’s obviously an inside day, followed by another inside day.
1) A daily bar with a lower high AND a higher low than the previous bar
2) A daily bar immediately following that bar with a lower high AND a higher low than the previous bar.
3) Go long if it breaks the daily high (with a stop at the daily low) OR go short if it breaks the daily low (with a stop at the daily high)
Here it is on the S&P futures, but its like this today on basically every stock market worldwide (including the Hang Seng etc)
Trading this is simplicity itself. Get long on a break of the daily high, or short on a break of the daily low.
Advantage is that you don’t have to choose the bear or bull side, you just jump on the side which is winning. Saves a lot of mental anguish.
If you want to learn more about this style of trading, which I guarantee is way simpler than whatever you are doing now, then you can learn more HERE
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