I have some code that is running in the python console reading out text lines. 
Is it possible to feed the output of the python console to my Unity3D game script so that it can trigger some actions in my game?
in other words:
python console running in the background outputs commands that need to feed to my Unity game.
An efficient solution would be to use TCP sockets in both the Python script and the Unity-side script. Since the Python-side is serving the data, then designate it as the server socket and make the socket on the Unity-side the client. This solution will be much faster than writing and reading to a shared file.
Feed Python output to Unity3D