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ranilo.vince Jan 17, 2019 7:10am | Post# 2001

{quote} There are many examples of 100% consistent patterns but the problem is, it's not often enough or good enough in terms of risk reward.
See.. You said it yourself...

"It's not often enough or good enough in terms of risk reward."

So, if you're saying those many examples of 100% consistent patterns exist, then trading should have been for everybody already, but it's NOT.

Ivanyo Jan 17, 2019 7:17am | Post# 2002

{quote} No, here it is not an outsidebar. Look at the highest of the candle that does not exceed there previous {image}
I'm just following OP's rules, it ain't hard...

Rules
1. Add EMA 30 to chart
2. Follow the trend
3. Long at next open bar when Bullish Engulfbar is formed above EMA30, and short at next open bar when Bearish Enguld bar is formed below EMA 30.
4. Use Finbonacci to determine SL and TP

snail69 Jan 17, 2019 7:19am | Post# 2003

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Simple Tip: Add Stoc with 8,3,3 settings, then wait for the new bar, because usually a retracement will happen after the engulfing bar is closed. Plot your fibo just like the instructions, and wait for the retracement around 61.8 or 50, then you can say that its a valid engulfing bar. Then trade it. Also refer to the support and resistance it might give you an idea where the trend will end.
This is a very good observation. Place a pending around 50% retrace and can get better RR, like shown in pic. 25x65 pips
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ranilo.vince Jan 17, 2019 7:29am | Post# 2004

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XAUUSD seems to have a valid buy setup. Will use small lot size though. Stay Green
It seems to be valid buy, but it's not coz Gold has been ranging for a while now... Wait until it breaks the range, but I could be wrong though...

Just giving you additional insights.. That is why you're good with using small lot size..
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MzansiObi Jan 17, 2019 7:39am | Post# 2005

{quote} It seems to be valid buy, but it's not coz Gold has been ranging for a while now... Wait until it breaks the range, but I could be wrong though... Just giving you additional insights.. That is why you're good with using small lot size.. {image}
Vince.

Thats exactly why the smaller lot sizes.
Have been selling high and buying low all week on Gold due to the ranging nature of the pair, just been using tight SL and trailing as soon as i move into profits on it.
The Pending Buy order is at 1295.2
am currently short on it from 1294 looking to retest 1289 handle again.
Trade safe and keep taking the pips the market gives...they all add up at the end of the day.


Tah

jpctop Jan 17, 2019 7:43am | Post# 2006

{quote} I'm just following OP's rules, it ain't hard... Rules 1. Add EMA 30 to chart 2. Follow the trend 3. Long at next open bar when Bullish Engulfbar is formed above EMA30, and short at next open bar when Bearish Enguld bar is formed below EMA 30. 4. Use Finbonacci to determine SL and TP
Thank you .
Read his post N 47
My English is not my native language. But It indicates high and low no only body

jpctop Jan 17, 2019 7:44am | Post# 2007

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ranilo.vince Jan 17, 2019 7:53am | Post# 2008

{quote} Vince. Thats exactly why the smaller lot sizes. Have been selling high and buying low all week on Gold due to the ranging nature of the pair, just been using tight SL and trailing as soon as i move into profits on it. The Pending Buy order is at 1295.2 am currently short on it from 1294 looking to retest 1289 handle again. Trade safe and keep taking the pips the market gives...they all add up at the end of the day. Tah
Correct! A profit is a profit.. Don't be shy to take them.. hehe

jpctop Jan 17, 2019 9:51am | Post# 2009

{image}
TP hit

Aleanc7 Jan 17, 2019 10:47am | Post# 2010

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This is a engulfing?
I checked the trend and it is downward, I would like to understand if I'm reasoning well. I noticed that it is not perfectly a engulfing.
but I would like an opinion from some expert, I'm in profit but I would like to understand if I'm reasoning well. Thanks

Cirakacima Jan 17, 2019 1:40pm | Post# 2011

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{quote} I'm just following OP's rules, it ain't hard... Rules 1. Add EMA 30 to chart 2. Follow the trend 3. Long at next open bar when Bullish Engulfbar is formed above EMA30, and short at next open bar when Bearish Enguld bar is formed below EMA 30. 4. Use Finbonacci to determine SL and TP
Hello! Why did you knock the EURCHF breakeven if the price did not reach Fibo 150?
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Ivanyo Jan 17, 2019 3:19pm | Post# 2012

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{quote} Hello! Why did you knock the EURCHF breakeven if the price did not reach Fibo 150? {image} {image}
Which trade you talking about? Both hit 1.5 fib levels my friend...
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Separately, another TP
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Cirakacima Jan 17, 2019 3:38pm | Post# 2013

{quote} Which trade you talking about? Both hit 1.5 fib levels my friend... {image} {image} Separately, another TP {image}
I compare yours and my transactions, I get a bad result, I spin around zero

Ivanyo Jan 17, 2019 5:09pm | Post# 2014

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{quote} I compare yours and my transactions, I get a bad result, I spin around zero
Not quite sure what you mean - your trade did hit 150 fib level. See below from your screenshot.
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dothieugia Jan 17, 2019 10:01pm | Post# 2015

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Is this a valid trade? AUDNZD
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Ivanyo Jan 17, 2019 11:23pm | Post# 2016

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Is this a valid trade? AUDNZD {image}
technically yes, but i don't like how it's at the top of the range and not a swing low

it means that i think it probably is going to retrace before going up again
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jpctop Jan 18, 2019 1:19am | Post# 2017

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I have another winner

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And two in progress
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Ivanyo Jan 18, 2019 1:34am | Post# 2018

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I have another winner {image} And two in progress {image} {image}
weird...i don't have those engulfings

might be your broker (or mine...)
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dothieugia Jan 18, 2019 1:40am | Post# 2019

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{quote} weird...i don't have those engulfings might be your broker (or mine...) {image} {image}
Same with me. My chart did not show Engulfing
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jpctop Jan 18, 2019 2:12am | Post# 2020

{quote} weird...i don't have those engulfings might be your broker (or mine...) {image} {image}
This is the problem with candles H4, D1 ... which will be different, from one time zone to another.

You are using a utc +11 timezone (are you from Australia?)
I am UTC 0 (London)

The formation of the candle H4 will be different.
I think a closing H4 difference of 2 hours between us.


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