The good thing that we are actually seeing over here is that the fall has become gentler and gentler, which means that if this consolidation continues to go in this direction, this is actually a very good time to monitor very closely, especially looking at the potential of it finally breaking out.

Of course, we won’t know when it will actually start breaking out, but this will be a good time where if it starts to consolidate further for an extended period of time, I will probably set an alert to tell me when it breaks above so that if the price really do indeed continue to consolidate, which I’m not bothered about because there’s no trading opportunity.

If it continues to come here and then it starts to break above, that could potentially be a very, a good bullish breakout trading idea. Especially if when the breakout happens, volume increase significantly as well.

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Philip Teo

Founder & CEO at Traderwave Pte Ltd
Philip Teo is an entrepreneur, speaker and trading coach who specialises in the field of Technical Analysis of the financial markets. He is currently the Founder and CEO of Traderwave Pte Ltd, a financial technology company that offers a web charting application to global traders. He has conducted many trading seminars and appeared on national television before. He is also currently an official speaker and trainer with SGX Academy. Learn more about him at his Google+ Profile, LinkedIn Profile and Facebook Profile

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