"Bullish Engulfing Bar" and "Bearish Engulfing Bar" trade
My name is Yuya.
I'm Japanese and I'm not confident in English sentences, but I'm happy if you read them.
I trade only when Engulfing Bar appears.
Engulfing Bar means the following candlestick.
The images refer to the following sites.
Write a simple trading strategy.
★ For long
If "Bullish Engulfing Bar" appears near the support line, go long.
Loss cut is done by updating the low price of "Bullish Engulfing Bar".
Take profits near the resistance line.
For shorts, do the opposite.
In order to know the sign quickly, I made a simple indicator.
If "Bullish Engulfing Bar" and "Bearish Engulfing Bar" appears, it is an indicator that sounds an alarm.
And another person made it, but there is an indicator that skips the notification to "the discord" when an alarm occurs.
It's very convenient because it notifies you in real time.
Finally, the hourly bars where I see this sign are the 1-hour and 4-hour bars.
I usually work, so I don't like short bars such as 15-minute bars.
I will write about the trading of currency pairs that I was notified when I have time, so I will write it in this thread, so please take a look at it.
Thank you for posting Yuya,
Wish you great success in this
"Bullish Engulfing Bar" and "Bearish Engulfing Bar" trade strategy :-) I have subscribed and will follow.
Be very cautious trading these patterns. True engulfing candlestick patterns are almost unknown in forex as there is usually no major difference between one candle's close and the other's open, so overlap is rare and not meaningful. Also Thomas Bulkowski suggests these are better continuation indicators, suggesting a trend will accelerate, rather than trend reversal indicators. Finally, all studies of candlestick patterns have been on daily charts, so be cautious applying the same rules to intra-day time-frames.
More information including performance statistics in different time-frames would be a help.
Finally a legit trader with a legit broker and real money account. Thanks for showing us the system. Will subscribe to your thread.
This thread will be much useful than 999+ other trading systems thread since this is the only one who showed real money gained in a substantial amount.
Thank you for writing.
Due to various verifications I may have a different position than the rules mentioned above.
Although everyone said, we do not recommend trading only by looking at this candlestick pattern.
I think it is important to have a proper position by looking at the trend, support line and resistance line of the daily bar and the hourly bar you are watching.
The time of day when this candlestick pattern appears is also important.
It is hoped that this candlestick pattern will appear during the times when trading in the Asian, European and NY markets is active.
There seems to be no currency pair that can be entered with "Bullish Engulfing Bar" and "Bearish Engulfing Bar" today.
Even if the alarm comes, I can not enter it because the time zone is not good or the sign does not appear in the price range that is ideal for me.
It is GBPJPY, JP225Cash, EURJPY, GBPAUD, USDJPY, AUDUSD that has been set so that an alarm will come.
There is no particular reason. .. ..
You doing good as you should, you probably started to overthink - move to the same way you did at start and keep going, you are doing good so keep doing what you did without constantly trying to add something
Traditional engulfing set ups are usually traps for those who think they will make money by copying some patterns off a book that every Joe and their mother can get
Don't believe me? Watch what's about to happen to this powerful "bearish engulfing" candle (and to those who went short after seeing it)
What is your filter to taking which bullish and bearish engulfing bar?
I think most realize that not all engulfing setups work. So there must be a way for you to filter out which one is good or bad.
Hi there great thread, well done.
Do you only trade from 1 H charts?
Hi Yuya, I will follow this thread.
The filter I think of is a good volume.
Forex results in tick volume, which is not an accurate turnover, but I think it represents people's impatience and excitement.
Here is an example diagram.
This is 1H of JP225 Cash. Look at the tick volume of the bar from "Bullish Engulfing Bar". It is considerably larger than the surroundings.
I draw a big shadow line of a big tick volume with the candle one before that, but a tick volume and "Bullish Engulfing Bar" appearing to cancel it.
I think that such places where the tick volume becomes large are often seen in trend changes and breakouts.
So I am aware of the tick volume where the "Bullish Engulfing Bar" and "Bearish Engulfing Bar" appear.
Even if "Bullish Engulfing Bar" and "Bearish Engulfing Bar" appear when there are few trading people and participants, the effect is small.
I see 1H and 4H, but ideally I want to trade at 4H.
I usually work, so I don't have time to monitor charts.
Therefore, for me, 1H may not be able to trade calmly.
nice to meet you! !
As I have said many times, this trading method is not the Holy Grail.
However, if the loss cut and profit-taking rules are improved from time to time, the total amount of funds will increase.
I'm a very bad man to take profit.
There are so many loss cuts, I carry out trades while holding my head every day and reflect on them.
My current goal is to properly wait for a chance.
4 hour or daily bar.
Not 100% perfect but a lot better than follwing indies.
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