EURGBP

My limit is set, waiting for price to trigger my limit

My limit is set

Pls delete your limit for this trade, price didn’t come back to trigger our limit

This trade actually came back to entry but i already removed my limits.

what is logic behind the trade? I cant understand why you chose to sell from that point

I trade the SLK strategy. SLK means structure, liquidity and keylevels. There is a thought process i follow before executing my trades. This particular trade, i had a breakout on the daily timeframe which signifies that we are bearish. After every breakout, you wait for a single candle formation that serves as liquidity. The moment the liquidity is swept on daily, you go down to 4hrs to look for candle rejection and candle closure. Note: The daily candle doesn't have to close before going to 4hr

This is the 4hr timeframe, the moment the liquidity candle on daily was swept, 4hrs rejected and closed at a particular disrespected A shaped key level.

Next is to go to a lower timeframe, 1hr or 30min timeframe. You are looking for a breakout to the downside on this timeframe. This is called alignment of timeframes. A breakout to the downside will show that we are ready to sell.

After a breakout to the downside, you wait for a single candle formation liquidity and set your entry at the nearest key level to the liquidity candle.

You can further ask for more explanation if needed, thank you.

I entered this sell today.

Trade execution

I have closed my trade at 14pips profit

Can you show the trade on a 5 minute chart? It will be clearer that way.

This is the 5min chart.

This would have been the outcome of the trade if i had held my position. Well, its still a win for me cos i closed in profit.

EURGBP is still bearish on the daily timeframe, the best option is to keep looking for sell entries.