We’re approaching London open and we wanted to share a Price Action setup that we’ve been monitoring since market open today. We’re looking at a double inside day setup, meaning an Inside day within an Inside day, on the smaller time frames this will look like a price squeeze pattern.
We can see that the trend is bullish and very stable, so we’re looking for breaches out of the top of the double inside day setup to trigger us into a long trade. This setup has also obeyed the 50% Inside day retrace rule that is covered in the Price Action Protocol, which basically gives the setup a higher chance of success.
If price breaks out higher, we could see the next push up into higher highs on this trend.