GBPUSD-Weekly Market Analysis-Aug19,Wk2

3 Agu 2019

The last opportunity for a bullish shark pattern forms up as a counter-trend trading opportunity.

I fully understand the pain of the real knowledgable shark trader but this is what it is, it has up to 3 potential buying opportunities and being a shark trader, you should look at all 3 if the previous failed. Psychologically wise, it can be a challenge.

It is because of the reward and the actual hit rate that got me interested in this setup.

Conservative trader can wait until the market moves upwards, break above and close above the cyan box(PRZ) then engaged the trade. That will increase the accuracy rate but it affects profitability.

Like the industry best speak for itself, each decision in trading is a trade-off, there is no perfect scenario, choose the 1 that fits your personalilty best.