rijay wrote: Fri Apr 06, 2018 10:35 pm one real breakout from sideways market and anyone caught on wrong side trying to sell ceilings and buy bottoms, is enough to erase all gains from selling ceilings and buy bottoms in sideways markets.
breakouts from sideways markets are reverse springs, always fast and furious how do you deal with it without proper indicators in place ?
not all consolidation pattern in trend are continuations, they are precursors of trend reversals too showing distribution.
why no indicator needed, when indicators help to read market well ?
anyone trying to read market without indicator will feel like trying to fly submarine in the sky.

Look on the chart, I hope you understand it better that way. I could post many more from M5, M30 or Weekly. It needs a to get a feeling for S/R. What do you think where the price will go next? You don't read the market with indicators, you read an interpretation of the market. If the interpretation is already bad, you can't get something useful from it. I don't say indicators are all bad, but you must know for what you are using them and what they tell you. They tell something different than the price, of course. Only then indicators can help you. The rest of your text I don't understand. What is a consolidation pattern?


You would be also a bad engineer. Submarines and airplanes have the same shape: a tube. A submarine has no wings and no wheels, but that can mounted quickly.

PS: While writing, price went up to the upper S/R (important S/R on M30) and looks good of going further. As said, you get a feeling for that.