EURNZD Consolidation Pattern
H4
What should Know about Consolidation
What to do now?
- Price Swing In the range of 1.682~1.666
- MACD is showing a weak bearish momentum
What should Know about Consolidation
- Consolidation is a period of range-bound activity after an extended price move.
- Consolidation illustrates the lack of a trend in a particular trading range. Price has “consolidated”.
- It frequently occurs after downtrends or uptrends and can be seen as a stretch of indecision.
- Consolidation draws to a close when price breaks through existing lines of support and resistance.
What to do now?
- Be patient to wait for it breakout the consolidation box
- It will be a great opportunity to enter when it breakout
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