It can be helpful to zoom out and look at the general bias or "slant" of a consolidation phase (a period immediately following a large/steep spike or selloff. Such dramatic movements are typically followed by the market's attempt to establish the "new normal". This is often charted with the 50% retracement to find that zone of consolidation. But here I just wanted to study such periods result in new movements.
From what I'm seeing, flat (neutral) sideways consolidations, or positive (upwards slope) bias results in another rally (even if short-lived). While any negative bias is a strong sign of an impending selloff.
This is particularly relevant in the current pattern, which is being constrained tightly above and below into a straight sideways motion. Based on this analysis, such flat motion is inherently bullish.
From what I'm seeing, flat (neutral) sideways consolidations, or positive (upwards slope) bias results in another rally (even if short-lived). While any negative bias is a strong sign of an impending selloff.
This is particularly relevant in the current pattern, which is being constrained tightly above and below into a straight sideways motion. Based on this analysis, such flat motion is inherently bullish.
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