Update at 10pm – the 4H candles have 1hour to close – the D chart has 1-2 hours to close – normally not a lot of movement occurs at this time of the day – thus I can enter on a trade on a partially completed candles:
GBPJPY retraced further – no bullish price action on D chart – no trade as yet
Same for EURJPY and CHPJPY – each currency lost some ground against Yen in the last few hours.
AUDJPY also lost a bit of ground – not looking bullish on either 4H or D chart
AUDUSD – could have turned into a corn-trade on 4H chart but does not look good now
GBPUSD – still looks ok, although the bullish pin bar could have a bit of a smaller body, but did have a low tail down to 5955. Place stop 10 pips below the low of the pin bar @ 5940. Place buy order at 5990 (10-12 pips below current price). Target 6110. Consider selling only half the position at target level if price gets there quickly. £750 risk
EURGBP – still looks good – is a S2S setup – strength/strength – but also involves playing the supply/demand zone – nice bearish price action for the last two days. Short Entry 8425 (7-8 pips above current price), target 8355 above previous low, place stop at 8455, above today’s high. Target 70 pips versus 30 pip stop. Move SL to BE if price gets to 8395. £750 risk
NZDUSD – no bullish price action as yet
In the afternoon – review the currency pairs that I am considering for setups.