#OnMyRadar: GBPAUD | Wedge Breakout Trade
PLAN A: Sell the rejection or price action slowdown into the upper trend line resistance / upper wedge (2.1480), then add to my position if price action breaks the lower wedge, finds support and potentially retest the bottom of the lower trend line ( 2.1320/40).
PLAN B: If price action impulsively break through the upper wedge into resistance (double top / supply zone) near 2.1570 area, I will but the pullback as price action finds support above the upper wedge trend line / swing high 2.1420/60
Stop loss for both trade will be 35-40 pips from the highest or the lowest recent swing point created at the time of entry.
PLAN B: If price action impulsively break through the upper wedge into resistance (double top / supply zone) near 2.1570 area, I will but the pullback as price action finds support above the upper wedge trend line / swing high 2.1420/60
Stop loss for both trade will be 35-40 pips from the highest or the lowest recent swing point created at the time of entry.
