AppleĀ Inc. and Walt Disney Co. have developed inside bar patterns on the daily chart. An inside bar pattern indicates a period of consolidation and is usually followed by a continuation move in the direction of the current trend. An inside bar pattern has more validity on longer time frames, such as a four-hour chart. The pattern has a minimum of two candlesticks and consists of a mother bar (the first candlestick in the pattern) followed by one or more subsequent candles. The subsequent candle(s) must be completely inside the range of the mother bar and each is called an “inside bar.” A doubleĀ or triple inside bar can be more powerful than a single inside bar. After the break of an inside bar pattern, traders want to watch for high volume for confirmation the pattern was recognized. Bullish traders will want to search for inside bar patterns on stocks that are …
2 Blue-Chip Stocks Consolidate in a Key Pattern: What Will the Break Bring for Apple and Disney?
January 21, 2022
admin
0 Comment