Buying on Pullbacks GBPAUDNow, I am making a reversal. I forgot where I written that, but now I see the worth in it. That's all coming from overthinking, and even a broken clock is correct twice a day.
As seen on the GBPAUD chart, if I were to buy and sell at those pullbacks at 50% or 100%, I will mostly be profitable, and it would be an easy trade. At least I think so. But here's the thing, one has to wait for the setup to present itself.
And with the pullback occurring, I think it is more obvious if price is not working in out and we can plan for our breakeven exit through DCA.
So, Pullbacks are useful, even if you are dollar cost averaging, entering on a pullback is worth its weight.
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