• when the market is consolidating (price is unable to break out of a defined range since neither buyers or sellers can move price beyond a certain price)
• consistent highs and lows
• price will tend to exit the consolidation in the same direction that it entered
• channel-like formation
• pattern can last for a long time (no real rule for the maximum length of this pattern)
• a.k.a. Sideways Market

ICE Brent has continued to trade sideways this week as the market awaits a decision from the OPEC+ meeting this weekend (4 June).

investopedia.com/sidewaysmarket
cmegroup.com/trend-and-continuation-patterns