GBPUSD in an upward move
After a brief Brexit hiatus, GBPUSD is back on the way up.
However, for an initial low risk but good reward ratio, an ascending wedge pattern is under formation in 4Hr chart.
Also a kangaroo tail is under formation on the Daily. Likely move upward on overall trend.
The risk : reward ratio is a good 1 : 1.61
However, for an initial low risk but good reward ratio, an ascending wedge pattern is under formation in 4Hr chart.
Also a kangaroo tail is under formation on the Daily. Likely move upward on overall trend.
The risk : reward ratio is a good 1 : 1.61
Kommentar:
Got stopped out in the first dip. But placed another buy order at the lower end of the wedge and ended the trade at a sweet 41 Pips profit!
Had the opportunity to put another buy order at lower end of the wedge.
Expecting a slight move upward until the ascending wedge resistance.