Hello everyone, if you like the idea, do not forget to support with a like and follow.
First of all what is consolidation ? Consolidation is generally interpreted as market indecisiveness, which ends when the asset's price moves above or below the trading pattern.
A consolidation pattern could be broken for several reasons, such as the release of materially important news or the triggering of a succession of limit orders.
Pretty simple plan,
A break and a candle close of the resistance will lead us to the upside target.
A break and a candle close of the support will lead us to the downside target.
Wide placement of the stop losses above the resistance and below the support will be a good idea to avoid stop loss hunting.
Also trading within the range is possible just long the support and short the resistance.
Thank you for reading my post, have a great day, wish you all the best !
Information provided is only educational and should not be used to take action in the market.
Feel free to ask anything in the comments :)
First of all what is consolidation ? Consolidation is generally interpreted as market indecisiveness, which ends when the asset's price moves above or below the trading pattern.
A consolidation pattern could be broken for several reasons, such as the release of materially important news or the triggering of a succession of limit orders.
Pretty simple plan,
A break and a candle close of the resistance will lead us to the upside target.
A break and a candle close of the support will lead us to the downside target.
Wide placement of the stop losses above the resistance and below the support will be a good idea to avoid stop loss hunting.
Also trading within the range is possible just long the support and short the resistance.
Thank you for reading my post, have a great day, wish you all the best !
Information provided is only educational and should not be used to take action in the market.
Feel free to ask anything in the comments :)
Komentarz:
Hope you took the trade ;)
Transakcja zamknięta: osiągnięto wyznaczony cel
Nice region here to place some longs with tight SL.