Consolidations

Quoting raiders

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{quote} Did you get short already?

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Quoting raiders

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{quote} http://www.telegraph.co.uk/news/2016...medium=twitter EU referendum: Telegraph subscribers say they back a Brexit This is a pretty big group of people here. For the most part the recent pols are 1-2k people. At 19K i think this carries weight. That said....1.4040 looks like a nice initial target

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Quoting anonymousey

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Consolidations are to be avoided. Once consolidation is recognized, you should leave that pair alone until it is over. I only trade 4H & up so consolidations can last for days. {image} {image}

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Quoting jen101

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{quote} It's fine to trade inside a consolidation - the market is fractal; it doesn't matter. Look at EN weekly, that's been inside a consolidation since the beginning of the year and there have been plenty of opportunities inside. Now, waiting to see if it will break. {image} {image}

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Quoting anonymousey

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{quote} EN would definitely not be on my list of pairs to trade. Too much whip-saw for my style.

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Quoting jen101

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{quote} There are patterns to those whip saws, just like GN but moves slower; great to trade!

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Quoting raiders

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{quote} Well....theres rate news coming up, so if the rate stays the same i think it gets blown out. Looking real good right now

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Quoting raiders

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{quote} Ceetee, It definitely looks like a buy if not now then very soon to now. One could also wait for a break of the falling blue trend line. There is a nice bullish divergence on the 4hr. The bigger picture looks like its making some kind of larger triangle consolidation. I havent taken the time to count it out, but if true, then the positioning of it on the fib levels may in fact lead me to believe that its maybe a wave 2 consolidation and if it is then the RR on this is huge because the upside is in the 1.27 area. Also if you go out to the...

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Quoting raiders

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{image}

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Quoting BubaYaga

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{quote} I like the look of 52. Last year was a support (March 17, July 28). {image}

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Quoting BubaYaga

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AUD/CAD -strange pair but nice bearish chart. {image}

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Quoting dkrock

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Okay. Thank you for explaining. You are calling consolidation the area of the market contained by trend lines and so I am guessing you want to trade the break-outs? That is completely different from my view. I attached a trend line indicator that might help you? It will show you breakouts and projected take profits. I experimented with it in the old days, but have moved beyond this technique. I attached a pic showing my definition of consolidation. To me, it is the area where one cannot make any money. It is where the market is in horizontal movement,...

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Quoting classy

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{quote} I use tools to find these types of areas so I know when to avoid the market. Good Luc decork what tools ?may i know ?i am also looking to spot this area look my attached link Post 13,989

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Quoting dkrock

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{quote} I reviewed your post, and it looks like you are using market position via horizontal trend lines to spot what I call consolidation areas. Unfortunately I use market momentum per indicator analysis, not chart analysis, so it is an entirely different type of trading. I checked your posted charts against mine, and none of them were identified as consolidation zones. They were all within trades. Sorry.

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Quoting raiders

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AU Possible start to wave 3 RSI topped out/showing bearish divergence(although not shown on pic) Anyone seeing the same scenario?? {image}

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