EURNZD Consolidation Pattern

28 apr 2021

H4

• 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