MTFM EURUSD Trade - Long

The 4 hour bar that closed at 11am London time engulfed the previous bar (in open and close terms).
The high of that 4 hour bar has already been broken.

MTFM now drops down to the 15 minute time frame and looks for long entries off engulfing or inside bars, until the low of the day is broken.

Although the day's range is very small so far (less than 50 pips), there may not be much action until the US data and Bernanke begin at 3pm London time.