Note the market was clearly pushing higher just prior to the formation of this Fakey. Next, we are looking at an example of a counter-trend Fakey. Fakey patterns can be traded in trending markets, range-bound markets or even against the trend form key chart levels. When price initially breaks out from the inside bar pattern but then quickly reverses, creating a false-break, and closes back within the range of the mother bar or inside bar, we have a fakey pattern.
Price Action Strategies
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