A great 'after the event' piece of wisdom - it has taken you nearly 8 weeks to work this out and write about it - now it will probably start to trend again LOL.
Two Proven Ways to Trade a Consolidation Zone
Oftentimes after a currency pair has been in a trend for a time, it will begin to consolidate or trade in a range. A trend trader can cease to trade the pair until it begins trending again or they can adjust their trading strategy so they can utilize what the market is giving them. The NZDUSD currency pair is currently providing the trader with a consolidation zone. Let’s take a look at the Daily chart of the pair below… The pair has been consolidating since about the first week of March. During the consolidation it has respected a support level of .8086 and a resistance level of .8281…a range of 195 pips. To a ... (full story)