BTCUSD
New WK and D1 bull engulfs created. Wait for retests and new entries on H4/H1 before taking longs
New WK and D1 bull engulfs created. Wait for retests and new entries on H4/H1 before taking longs
interesting, maybe first try to put it in my own words.
Basefinding: a bar following an upbar that can't close above the high of the previous upbar but respects the low of the previous upbar is the basebar.
The next thing a bar in te future will close higher than the upbar before the basebar (Engulf). Now the basebar is confirmed.
Wait for the retest of the basebars price 2 timeframes lower that constructs a W shape and takes out the basebars price to go long, Stop below most likely the rigth part of the W shape (first a false break of the left part of W to fake out longs).
Is there a scanner for this?Nick can you confirm this
I Made a screenshot hindyhindside of course of monthly - daily hourly 
I think fibonacci extension could come in handy here. Not sure why the pictures don't show but the do show.
Basefinding: a bar following an upbar that can't close above the high of the previous upbar but respects the low of the previous upbar is the basebar.
The next thing a bar in te future will close higher than the upbar before the basebar (Engulf). Now the basebar is confirmed.
Wait for the retest of the basebars price 2 timeframes lower that constructs a W shape and takes out the basebars price to go long, Stop below most likely the rigth part of the W shape (first a false break of the left part of W to fake out longs).
Is there a scanner for this?Nick can you confirm this
I Made a screenshot hindyhindside of course of monthly - daily hourly
Nick, is it a problem if the basing candle's low (in this scenario) is broken? If is not, this might be a possible D1 / H1 setup{image}
Hi Nick, Is this a correct buy setup on EURAUD ? thanks {image}
AUDNZD W1 / H4 Trade:
I like to share my trade I took on the W1 / H4 last week. The trade was closed with a loss, what of course is part of trading.
For what I can say the setup up was a valid one, but may be I overlooked something in the setup. After the trade was closed I found out there was high impact news on the NZD what could explain the impulsive bullish move against my trade.
These are the charts:
AUDNZD W1:
AUDNZD H4:
I like to share my trade I took on the W1 / H4 last week. The trade was closed with a loss, what of course is part of trading.
For what I can say the setup up was a valid one, but may be I overlooked something in the setup. After the trade was closed I found out there was high impact news on the NZD what could explain the impulsive bullish move against my trade.
These are the charts:
AUDNZD W1:
AUDNZD H4:
AUDNZD W1 / H4 Trade: I like to share my trade I took on the W1 / H4 last week. The trade was closed with a loss, what of course is part of trading. For what I can say the setup up was a valid one, but may be I overlooked something in the setup. After the trade was closed I found out there was high impact news on the NZD what could explain the impulsive bullish move against my trade. These are the charts: AUDNZD W1: {image} AUDNZD H4: {image}
