Simple's Green Room

[pennies2007]

Yep, it can work out nicely Jav.

It actually is very similar to the inside-candle trading method. Knowing that a breakout has to occur one way or another when the pairs consolidate, you can place two orders...one above the candle and one below. One of the two will get hit when the pair breaks and runs.

Of course, the strategy has it's risks. I've seen several instances where a breakout would trigger an order and then go the opposite direction. That happens, for example, during a final Wave 5 after a Wave 4 sideways consolidation pattern. You get a nice pop to finish out the wave count and then it pulls back in the opposite direction.