How to approach a pair during its consolidation period!
-When there is a consolidation happening on a pair, this would be an excellent opportunity to look for a breakout and a reversal of the support/resistance of the consolidation box.
-For these types of setups we need be patient and see how price will move to either the upside or downside.
-Once we see a breakout of the consolidation box then it is essential to wait for a retest and enter when we see a strong candle stick confirmation depending on which way price breakout the box.
-Make sure to do loads of backtesting and forward testing this strategy to become more confident in the strategy.
-Make sure to journal all the trades to see how well you perform and look back to see what you can improve on.
If you need any more advice, support or mentoring then give me a message to see how best I can help you.
Please make sure to follow, leave a like and a comment on your opinion/ideas on how to approach these types of strategy.
In the near future, I will be hoping to post more educational posts to help my followers or anyone who wants to learn and get a better understanding on how to approach markets.
-For these types of setups we need be patient and see how price will move to either the upside or downside.
-Once we see a breakout of the consolidation box then it is essential to wait for a retest and enter when we see a strong candle stick confirmation depending on which way price breakout the box.
-Make sure to do loads of backtesting and forward testing this strategy to become more confident in the strategy.
-Make sure to journal all the trades to see how well you perform and look back to see what you can improve on.
If you need any more advice, support or mentoring then give me a message to see how best I can help you.
Please make sure to follow, leave a like and a comment on your opinion/ideas on how to approach these types of strategy.
In the near future, I will be hoping to post more educational posts to help my followers or anyone who wants to learn and get a better understanding on how to approach markets.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.