Consolidation Breathes Advanced Patterns
I just wanted to share this chart with you just to show that there are always opportunities in the market if you know what you are looking for.
As you may have noticed, the EURUSD along with many of the major currency pairs have not been doing too well in terms of directional movement since the month of August even going into September where we thought that volatility was going to increase and the market would pick up. Well, none the less, those who trade advanced patterns have been making money out of what appears to be junk on the chart. We had 5 advanced patterns back to back on the 240 min chart within this area of consolidation with all of the except the first bat pattern hitting target one and target two. Please take note that this is a higher time frame. If you were to drop down to a lower time frame you would definitely have gotten more opportunities. There 2 Bat patterns, 2 Gartley patterns and 1 Cypher pattern within that sample of data.
As you may have noticed, the EURUSD along with many of the major currency pairs have not been doing too well in terms of directional movement since the month of August even going into September where we thought that volatility was going to increase and the market would pick up. Well, none the less, those who trade advanced patterns have been making money out of what appears to be junk on the chart. We had 5 advanced patterns back to back on the 240 min chart within this area of consolidation with all of the except the first bat pattern hitting target one and target two. Please take note that this is a higher time frame. If you were to drop down to a lower time frame you would definitely have gotten more opportunities. There 2 Bat patterns, 2 Gartley patterns and 1 Cypher pattern within that sample of data.
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