GBPAUD - Wedgie
Hi guys, most of the GBP pairs are forming sideways wedges. Sideways wedges are harder to predict vs descending/ascending wedges. However, we can still use the outside of the wedge as a signal to buy or sell.
I wait for a confirmation candle formation to occur before I enter (i.e a pullback with an engulfing supporting candle or a supporting flag). In addition, I am always ready to reverse my position if it looks like I got sucked into a head fake. Gotta love the head fakes...
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
I wait for a confirmation candle formation to occur before I enter (i.e a pullback with an engulfing supporting candle or a supporting flag). In addition, I am always ready to reverse my position if it looks like I got sucked into a head fake. Gotta love the head fakes...
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
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