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"Bullish Engulfing Bar" and "Bearish Engulfing Bar" trade 88 replies

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Engulfing

  • #81
  • Jun 4, 2019 7:54pm Jun 4, 2019 7:54pm
Quoting edwardhck
and this? {image}
Hi Edward
I already short since Monday. EURNZD. Too good to miss. Now 40 pips up. Hope to stay that way.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDDaily.png Size: 73 KB
  • #82
  • Jun 4, 2019 7:55pm Jun 4, 2019 7:55pm
Quoting josephkee
{quote} Hi Sheppy Good evening to you. Support and resistance are very often a subjective matter. What you see as a resistance I may not see it. I have a indicator which I took from the website on demand and supply curve. Very often when it is red (verified resistance ) and a yellow semaphore printed at that red supply zone, I pull my trigger either when I see a key reversal bar or engulfing bar. My profit would depends on how far away is the demand zone (usually green). If not if I trade on the daily chart, then I see when the next congested zone...

Thanks for the feedback and info))
  • #83
  • Jun 4, 2019 8:04pm Jun 4, 2019 8:04pm
USD SGD daily short. Now 20 pips to TP. Entered since Monday. Counting my chicken before it is hatched.
Attached Image (click to enlarge)
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  • #84
  • Jun 4, 2019 8:11pm Jun 4, 2019 8:11pm
Quoting josephkee
{quote} Hi Edward I already short since Monday. EURNZD. Too good to miss. Now 40 pips up. Hope to stay that way. {image}
I just don't see it, anyone else see it?

Perhaps I don't understand your definition of Engulfing, or as I asked about before, your brokers data feed may be different levels

It is now Wednesday 5 June, I marked the Monday candle

Attached Image (click to enlarge)
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It takes a lot for me to IGNORE you, but you can try.
  • #85
  • Jun 4, 2019 8:25pm Jun 4, 2019 8:25pm
Quoting Erebus
{quote} I just don't see it, anyone else see it? Perhaps I don't understand your definition of Engulfing, or as I asked about before, your brokers data feed may be different levels It is now Wednesday 5 June, I marked the Monday candle {image}
Hi Erebus

sorry for all this frustration looking for EB when it really is not there. Perhaps I should change my first post.
When I don't see EB reversal and it is really not often, I look for key reversal bar. Some times, the EB formed part of the key reversal bar and some times it does not (no EB). This is best explained in the link.
https://www.tradingsetupsreview.com/...n-day-trading/

Lets discuss on this further. Sorry again, for all this confusion. It is not my purpose. If you see my GBPUSD trade, it really is based more on key reversal than EB. But again you can also say I did clarify earlier that 2 or 3 bars can combine to form a EB. It qualifies both as key reversal and 2 to 3 bars to form EB. Please let me know if I can explain further.
Thank you.
Attached Image (click to enlarge)
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  • #86
  • Jun 4, 2019 8:33pm Jun 4, 2019 8:33pm
Quoting Erebus
{quote} I just don't see it, anyone else see it? Perhaps I don't understand your definition of Engulfing, or as I asked about before, your brokers data feed may be different levels It is now Wednesday 5 June, I marked the Monday candle {image}
Erebus, its not your fault not seeing EB. Alton Hill call this as key reversal bar. Enter when the next bar breaks the low of the bar that closed below the two previous bars low. Perhaps this chart can explain. Let me know
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDDaily.png Size: 77 KB
  • #87
  • Edited 8:51pm Jun 4, 2019 8:41pm | Edited 8:51pm
Quoting Erebus
{quote} I just don't see it, anyone else see it? Perhaps I don't understand your definition of Engulfing, or as I asked about before, your brokers data feed may be different levels It is now Wednesday 5 June, I marked the Monday candle {image}
Just to show you my trades. If I make losses I will announce, if I win, I shout. I make small time profit and trade in small lots. Someone once told me in business go for volume (no of trades) even if you sell per item at $10. If its good, customers keep coming back. Let your strategy be good. You will keep profiting in small lots and amount. Let it accumulate. Thank you
Attached Image (click to enlarge)
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  • #88
  • Jun 5, 2019 2:03am Jun 5, 2019 2:03am
Manually closed USDSGD yesterday. Not in the trade anymore. On hindsight should have let it run. Same as NZDusd. Should have let it run to TP.Closed too early.
Attached Image (click to enlarge)
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  • #89
  • Jun 5, 2019 2:16am Jun 5, 2019 2:16am
If we use the key reversal bar methods, once the next candle break the high of the signal candle (with arrow) you risk only 29 pips (the low of that candle) and let the profit runs at least 50 to 60 pips and even more as I do not see congested until much further up.

Lets use this as a example to see how this trade go. I may be wrong or right, I am not in this trade but lets use this as a case study. Notice the power of the yellow semaphore combine with a verified green demand zone.
Attached Image (click to enlarge)
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  • #90
  • Jun 5, 2019 2:41am Jun 5, 2019 2:41am
Hi all
if you want we can standby for this daily NZDCHF candle to complete today. If it closed higher than the two previous bullish bar high today, we enter at the breaks of the high of today's bar. If not we skip this trade. Anyone coming along? Please let me know who is in. No pressure and entirely at your own risk. Note it will be tight stop loss but will depend on how big the candle is going to end up today.

Noticed yellow semaphore combine with green demand zone (verified demand, meaning it has touched at least once before). If I condensed the chart, it looks like this just like a support zone. See chart
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: NZDCHFDaily 1.png Size: 142 KB
  • #91
  • Jun 5, 2019 3:02am Jun 5, 2019 3:02am
Hi all
I am still using EB bar. Look at this chart. It has EB and also a key reversal bar combined as it closed below the two previous low (alton Hill method).
It touched the supply zone and has a yellow semaphore. We do not want to use lagging indicator to guide our decision. We let the price printed be our guide. Price cannot lie and does not lag. Cherry picking? Do your own back test. If you are convinced, come on board and lets have a lively discussion as there are too few contributors. Thank you
Attached Image (click to enlarge)
Click to Enlarge Name: NZDCHFDaily2.png Size: 88 KB
  • #92
  • Jun 5, 2019 6:22am Jun 5, 2019 6:22am
Hi Joseph,
Interesting work. I use this type of system with reasonable success and I am quiet happy to use a second bar to complete the engulf as you suggest.
Brian.
  • #93
  • Jun 5, 2019 9:28am Jun 5, 2019 9:28am
NZDCHF is also recommended by Oanda but already established a bearish engulfing candle in H4
  • #94
  • Jun 5, 2019 10:52am Jun 5, 2019 10:52am
Quoting josephkee
Hi all I am still using EB bar. Look at this chart. It has EB and also a key reversal bar combined as it closed below the two previous low (alton Hill method). It touched the supply zone and has a yellow semaphore. We do not want to use lagging indicator to guide our decision. We let the price printed be our guide. Price cannot lie and does not lag. Cherry picking? Do your own back test. If you are convinced, come on board and lets have a lively discussion as there are too few contributors. Thank you {image}
Please what is the meaning of EB ?
  • #95
  • Jun 5, 2019 4:29pm Jun 5, 2019 4:29pm
Find attached a sample Indicator and EA I created for the Engulfing and RSI strategy.


You can set:
1. RSI Overbought level
2. RSI Oversold level
3. Time frame
4. Minimum length of engulfing bar
5. TP level
6. SL level
7. Lot size
Attached File(s)
File Type: ex4 Engulf&RSI EA.ex4   17 KB | 477 downloads
File Type: ex4 EngulfRSIAlert.ex4   15 KB | 560 downloads
  • #96
  • Jun 5, 2019 4:31pm Jun 5, 2019 4:31pm
Below is the screen shot for the EA.
I will update the EA and indicator based on updates from guys here.
Attached Image
  • #97
  • Jun 5, 2019 4:35pm Jun 5, 2019 4:35pm
The Indicator shows sound alert and arrows on the chart
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 20 KB
  • #98
  • Edited 7:07pm Jun 5, 2019 5:44pm | Edited 7:07pm
AUNZD took profit 50 plus pips last night. EURNZD closed manually at profit 90 pips.
Attached Image (click to enlarge)
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  • #99
  • Jun 5, 2019 5:45pm Jun 5, 2019 5:45pm
Quoting dkarev
{quote} Please what is the meaning of EB ?
Hi
it means engulfing bar. thanks
  • #100
  • Jun 5, 2019 5:46pm Jun 5, 2019 5:46pm
[quote=dmjoguns;12313379]Find attached a sample Indicator and EA I created for the Engulfing and RSI strategy. You can set: 1. RSI Overbought level 2. RSI Oversold level 3. Time frame 4. Minimum length of engulfing bar 5. TP level 6. SL level 7. Lot size {file} {file}[/quote
Thanks need to study it first. Off to work
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