Dear Daily Price Action Setup Traders

The trade from yesterday has been stopped out due to the NZD Rate Decision. The trade from Monday has already progressed quite well pushed by the move in CAD and GBP. From a daily price action setup point of view, both setups were GBP-related currency pairs, but only one of them worked out. This is not a typical outcome, since GBP is the
Today, I am looking at another GBP pair- GBP/USD. The formation I am seeing behind price action is again a non-conventional
one, but I have discovered non-typical patterns to be the best performing ones. On the daily chart, we have three consecutive bullish candles, which are covering the bearish candle from the previous session. Although, this is a contrarian trade, since we are in a major downtrend, I believe we might see some bullish correction here. The price is overextended and it’s been a while since we last saw a correction. That is another reason why I believe that we would see at least a minor correction.
An entry for today would be the level of 1.5685 with a stop-loss just below 1.5610. My primary target is the level of 1.5800 and then 1.5900.
Depending on how price reacts to these levels, I will decide whether to let the position run or reverse it.
Happy Trading,
Colibri Trader