The m30 Gartley hit late in the Asian session, so I couldn't enter immediately due to time of day rules, but felt no fear of missing out which is real progress. Waiting for the FTSE to open gave further confirmation in the form or an m5 IQM, trend line break/retest, and m5 bullish bat (1.5660) see below.
The level was hit 25 minutes after the FTSE open, which was ideal. I was reluctant to enter for fear of immediately giving back profits from the previous EURCAD short, but putting my emotions to one side, consulted the nine reasons for the trade (and one against), and executed.
Position size was conservative as my stops were placed further through X than necessary (60 pips), meaning I did not take as much from the trade as I perhaps should. This has been a common shortcoming with my trades. It's good to give them room to breathe, but I could afford to tighten the stops a fraction and get on a slightly bigger position, particularly in this case.
Profits were taken rather arbitrarily, the first at 40 pips which is my normal T1, then on momentum moves through swing highs etc at +77, +92 and +120 pips. I did not leave a runner on, which may come back to haunt me as I am bullish on this pair, but with a recent EURGBP runner giving me a lot of anxiety for little return, I'm unconvinced of the merits of such a strategy. This move on GU was so strong and fast, I was quite content to book it and run.
Proud of this one.
