TRADE: GBPUSD: BUY@1.5380 Completed Shark

Posting this trade as a nice pattern trade. A Shark pattern was completed just now and with the GBPUSD being very much oversold as well as me being VERY BULLISH on it from more than a month ago, it is a good time to buy it. It;s very low risk should it not reverse and go up but continue down (see Related Ideas: "QUICK ANALYSIS: GBPUSD: Two Scenarios It Could Follow"). A good place to place a stop loss would be 1.5300 as a violation of that level could trigger a sell off. But the potential profit for this trade could be very nice.

Also, in my previous post, I mentioned that prices could indeed break below the lower trend line of the larger consolidation pattern and then rise back up leaving behind a false break. This is exactly what I see happening or at least what I am hoping will happen!

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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