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- Icebot53 replied Apr 24, 2019
Am i correct in Saying that there is a possible sell coming up on CADCHF M5? Price retraced between the two EMA's, with it possible breaking the trendline again in the next 5 minutes. MFI is pink and RSI is red. And daily candle is red. If it breaks ...
- Icebot53 replied Dec 9, 2018
Another rules would Need to be that on the engulfing candle, the body must be larger than the wicks.. The reason for this is that most of the move might already be finished. Here is an example of an invalidate engulfing candle.
- Icebot53 replied Dec 9, 2018
Here is an example of a buy trade. Engulfing candle followed by a confirmation candle that breaks the high of the engulfing candle. SL and TP levels are indicated by the Fibonacci. This is for the simple EA.
- Icebot53 replied Dec 8, 2018
Okay... It is based on engulfing candles, confirmation candles and Fibonacci... I attach an example here. If an engulfing candle forms which engulfs the body of the previous candle and it is a different direction candle, eg bearish engulfing ...
- Icebot53 replied Nov 21, 2018
Caught a nice trade on EURJPY this morning. Currently deep in profit. The bullish candle is highlighted in orange. It was not a complete bullish engulfing but I was satisfied. Also, price was trading below both EMA 30 AND 40 but creating higher ...
- Icebot53 replied Nov 20, 2018
I also take that same trade
- Icebot53 replied Nov 20, 2018
The reason why I added the EMA 40 is this: I visually backtested on the USDCAD chart H4. it almost formed an engulfing candle with a lot of momentum to the downside. However, GREEN EMA (30) is still above BLUE EMA (40) and hence I would not sell on ...
- Icebot53 replied Nov 20, 2018
Item 5 is just allowing for additional entries. I am quite an aggressive trader so I would open multiple positions on 1 engulfing candle depending on the retracement. Another thing I would mention is the condition of the confirmation candle. Look at ...
- Icebot53 replied Nov 20, 2018
Hello Guys, So just my two cents on this I have backtested visually a few charts and it seems that this strategy is really good. I have made the following modifications to the strategy however. I have added a 40 EMA. I only trade a BUY if the 30 ...
- Icebot53 replied Nov 1, 2018
I imagine that we should see a good sell off today. In normal conditions, I would say it should sell off to about 111.70 which is my D1 white BB on the H4 tf.
- Icebot53 replied Aug 17, 2018
Two trades this morning with this strategy! Quite happy with the results so far! Thanks JayBag!
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