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As you can see, from the currency pair in the image, you can observe a consolidation, a rectangular consolidation, so with your pending orders, you should be grabbing those pips
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I’m not getting the pattern there, could you help?
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Sure… How may I help?
Consolidation is where the market pauses and buyers and sellers try to figure out direction. It is sideways action in the market. Markets breakout from these channels. The longer the consolidation the more tension the bigger the breakout generally.
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You’re right on point
I like this. The most annoying thing in forex is the myth that trading forex is complex and weirdly different to classic TA theory.
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That’s what we have to deal with. And we can deal with it by being creative, right?