Video Synopsis – Forex Trading, Live Trade, The Fakey
In the above forex trading educational video we are discussing the fakey setup. I took a position on a fakey on the EURJPY in this video, the weekly chart was showing a trading range, the fakey was a short position near the top of the range on the daily chart. The fakey is a mother candle followed by an inside bar and then a false break out of the inside bar or mother bar and inside bar.
This video was filmed when the carry trades and the Dow were starting to unwind from the financial crisis which began in 2008. This was a quick video demonstrating a live fakey forex trade.