concluded with my position closing out for a 100 pip profit after a favorable gap down the following Monday. The fakey setup, i traded in this video is a contrarian approach to the markets. This can set off some pretty big moves in the Forex market. Fakey pattern, but in this case we have a fakey pattern formed by Inside bar false breakout. We are using plain vanilla price charts in this video, no macd or RSI or any other messy and unnecessary indicators. If inside bar breaks and price moves continuously, then we cant expect any fakey here. How to trade a fakey in a trending market: In the following gbpusd daily chart, we can see the price was already in an uptrend and at the middle a good price action buy signal formed by a bullish fakey in a bullish market. Try to enter the market with a confluence fakey setup. The Fakey Pattern (Inside Bar False Break Out).
To trade a fakey set up, you have to understand how to identify a mother candle/mother bar and an inside candle/inside bar. Fakeys are a very important and potent price action trading strategy because they can help us identify stop-hunting by the big boys and provide us with a very good clue as to what price might do next. This is normally a common phenomenon in the forex market, as sometimes you may find more inside bars within a mother bar prior to fakey or false break bar occurring. April Special: Get 35 Off Life-Time Access To Nial Fuller's Price Action Trading Course Daily Trade Setups Ideas Newsletter, Until April 30th. Fakey, pattern Trading System in action. Its a Forex strategy based solely on price action and candlesticks and does not have any Forex indicators to make things look too complex.