Akil_Stokes

EURGBP - Consolidation Lead to Expansion

FX:EURGBP   Euro / British Pound
The EURGBP             is currently in a state of sideways movement which is called consolidation. Consolidation leads to expansion, so as i analyze this price chart they question that I want to ask myself is

IF Price action breakouts out to the ___ side

THEN where is it likely to continue to.

Doing so will allow me to see if there is enough potential profit (with limited risk of course) to create a trading opportunity.

This pattern formation is called a bearish flag and it traditionally breaks out to the downside. However, because the consolidation occurs at a previous level of structure, I's fair game either way in my opinion.

Akil
"Today is the start of our busy news cycle. Be safe out there traders!"
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This formation is called sloping flag. Bearish flag is ascending upwards.
Reply
Akil_Stokes PRO Pirate_Hook
@Pirate_Hook, I agree, the best flag patterns are continuation patterns that go with the direction of the trend
+1 Reply
This is just a regular flat, a correction. There is no way this structure leads to the move you are expecting.
+2 Reply
@MarcuDan, There's no way price moves up or down?
Reply
AkashGaur Akil_Stokes
@Akil_Stokes, Yes that is the exact same way price moves up or down.
+2 Reply
@AkashGaur, lol
Reply
AlishaSingh Akil_Stokes
@Akil_Stokes, sometimes I feel that you literally wasted all your years of trading because you still don't know how a chart moves. I contacted you 3 years ago in person because I was completely new and I appreciate you helping me with whatever It is that you knew and you were very nice so I never wanted to say but I Just had to say this because your charts keep on getting worse by the day.
Sorry for sounding so harsh Akil.
-Alisha
Reply
@AlishaSingh, like you know how it works? - Look at all your trading ideas, they are just hilarious compared to Akil's. Have you ever hit ur target Alisha?
Reply
AlishaSingh MartinKirkelundLedet
@MartinKirkelundLedet, Well yes more than you have in your entire life. Might as well go and check all the ideas. :) and stop finding animals on your charts
Reply
AlishaSingh MartinKirkelundLedet
And this is the worst part about warriors like you@MartinKirkelundLedet,
would just let my chart do the talking and then we will see whether i know what i am talking about
snapshot

:)
Yes elliot wave is a lot more hilarious than finding animals on the chart ;)
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