The title is merely a reference for a connection to the previous post.
As it turns out, if I want to be precise and come up with a mathematical formula for what really a consolidation is, I cannot call the following thing a consolidation:
That thing is burning time, which sounds like a consolidation, but if I define a consolidation by quick zig zag moves, that change the level of consolidation by at 5 percent in every 3 bars and reach a high charge towards the end, that flat thingy just does not qualify. What should it be called then? Pause? Partial recharge? Temporary exhaustion? It is basically a cobra lifting its head up a little for a second strike.
Life is funnier still. The thing on the left that I initially called an aborted consolidation, did in fact consolidate the price when it broke the high of the range it printed. So, our cobra bumped its lifting head into this golden bar, and price cracked it before the pause took place. Maybe one should not use time frames below 1h for consolidation values.
On the monthly, we re-tested and got rejected from the consolidation level with the giant arrows. It would make sense to come down for a re-test of the previous base, or at least build another base. Did I say 1.1750? Make that 1.18 for now. The 4h Lema is at 1.2065.