You know I’m a scalper, not of Red Indian type ofcourse. I like short, fast, or slow trades of few pips. 5% of my balance traded.
One of the most basic rules that any trader will tell you is to trade with the trend. I watch traders putting BUY positions on a currency that has been bearish for 3 days. Although they may win a short trade if it is in the upward part of a wedge, the chances are a long stay in the pair will result in stopping out and losses. Much better to wait and trade with the trend. So if you are in a downward wedge with a 4 hour/1 day chart that has been bearish all day then better to put the trade on a sell.
The Trend is your friend.