FX-Diaries: EURGBP 4H long

I'm watching EURGBP for a while now but no interesting candle patterns yet.

Untill now...

If the current candle close is bullish engulfing as it is now, I'm all the way in bullish.

Candle close is 19:00 hours Amsterdam time.

Will explain later why

Note

no entry yet bullish candle was too large to enter, waiting for another entry signal

Note

Still sneaking on this trade but no entry yet!

Also 4H timeframe is invalid watching it now on the 12H / Daily.

On the 12H nice 4 small candles so one good engulfing candle would mean an entry for me :)

NFP week is a funny week, they drag you till end of the week with nothing to trade.
Then a trader is tempted to make mistakes and take a low quality setup.

I will watch this from the sidelines let's see if the market is generous enough to give us a nice setup!

Note

Trade left the station at the candle close 7:00 hours without me taking the trade unfortunately.

This was unexpected as the london market is still closed and I was sleeping lol.

So the gameplan is updated (again).

I want to see the price retrace back to the origin of the strong move the demand zone let's say.

There I will place a buy limit order.

Often you see when strong moves like this happen in the asia session or early moring.
Price is pushed back one more time to pickup liquidity and then the real move happens.

Also no other trades taken, it's important when you "miss" a trade although I wouldn't say this is a missed trade. Don't search for other setups that are low quality. That's how you loose money.

Order cancelled

trade of the table

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