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46# Fakey Pattern Trading System

Inside Bar with False Breakout

Fakey pattern trend following trading

Submit by Tim 2017

 

Fakey Pattern Trading System is based on fakey formation. What is Fakey pattern?

 

Inside Bar + false breakout = Fakey pattern. There is also Pin Bar + false breakout = Fakey pattern, but in this case we have a fakey pattern formed by Inside bar + false breakout.

The Fakey pattern start when we have a Inside Bar that initially breaks out of Inside Pattern but then reverse creating a false breakout of the price action.

This is a trend following strategy, but the interpretation of the fakey pattern can be also other. In this case the fakey pattern is filtered by two moving averages for find the direction of the trend.

Time Frame 5 min or higher.

Currency pairs: EUR/USD, GBP/USD, USD/JPY, USD/CHF, GBP/JPY, EUR/NZD, AUD/USD, EUR/GBP, EUR/JPY.

 

Metatrader Indicators

Exponential moving average 100, period close.

Exponential moving average 200, period close.

Fakey Pattern indicator (this MT4 indicator simplifies the Fakey pattern analysis.)

 

Trading rules Fakey Pattern Trading System

Buy

EMA100 above EMA200

Fakey Pattern buy arrow

Initial stop loss at the previous low swing.

Make profit discetionary.

 

Sell

EMA100 below EMA200

Fakey Pattern sell arrow

Initial stop loss at the previous high swing.

 Make profit discetionary.

In the pictures Fakey Pattern Trading System in action.

Fakey Pattern Trading System
Fakey Pattern Trading System
Fakey Pattern Trading System
Fakey Pattern Trading System
Fakey Pattern Trading System
Fakey Pattern Trading System

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