Akil_Stokes

GBPAUD - 1 HOUR - MULTIPLE PATTERN FORMATIONS

FX:GBPAUD   British Pound / Australian Dollar
When the market is in consolidation (not trending/between trends) a lot of people tend to shy away because there is no clear directional movement . This is true, but it doesn't mean that there aren't trading opportunities available.

If you're an advanced pattern trader then periods of consolidation are times when you need to be on alert for setups as they are typically plentiful.

In this example, we have no idea on which way price is going to ultimately go, but as you can see, whichever way it does, there will be a potential opportunity to take advantage of.

Wishing you the best today in the markets & as always if you have any questions, comments or just want to share your view on things please leave it in the comment section below & I'll be sure to respond.

Plan Your Trade, Trade Your Plan!

Your Trading Coach - Akil
LEARN TO TRADE at https://tieronetrading.com/ New/Struggling Traders I recommend watching the FREE Ascension Webinar

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https://www.youtube.com/akilstokes

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Comments

Thanks Akil, keep up the good work. trading in consolidation is certainly a new skill I am developing for the future. first time iv been faced with the challenge and battling through it rather than switching pairs has been interesting lol.
+1 Reply
Akil_Stokes Harvard-of-Forex
@Harvard-of-Forex, You're welcome and good to see that you're continuing to learn and grow as a trader
Reply
hopeful i was looking at short opportunity that's give broader perspective
+1 Reply
Akil_Stokes rana5658
@rana5658, Awesome!!
Reply
You are 100% correct - it can go any direction!
+1 Reply
Akil_Stokes Lifesong
@Lifesong, lol the more traders that understand that the better the chance they have of surviving the markets
Reply
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