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QB's Reversal Method

  • #21
  • Mar 21, 2020 9:48pm Mar 21, 2020 9:48pm
Quoting peterhenders
{quote} just for correction, it looks as though that fast moving average could be around 10ema.
I don't know what you mean by correction!!
Yes it's 10ema.
Nobody ever made a dime by panicking. Jim C
  • #22
  • Mar 21, 2020 11:21pm Mar 21, 2020 11:21pm
Quoting FxQB15
Based on my analysis regards to current stage (Pandemic duration) of each major currencies strength and weakness as follows; The Weakest · AUD… Weak across the board. · GBP… Weak against USD, EUR, JPY, CHF, not on AUD & NZD. · NZD… Weak across the board but slightly not against GBP & AUD. The Strongest · UDS… Strong across the board. · CHF… Strong across the board with exception of USD and neutral on JPY · JPY… Strong across the board with exception of UDS and neutral on CHF & EUR Neutral Currencies: · EUR… Strong against GBP,AUS, NZD.. Weak against...
You're spot on.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDm#M30.png Size: 49 KB
  • #23
  • Mar 22, 2020 12:15am Mar 22, 2020 12:15am
Quoting paulcarissim
{quote} You're spot on. {image}
Right on then, lol
Nobody ever made a dime by panicking. Jim C
  • #24
  • Mar 22, 2020 3:19am Mar 22, 2020 3:19am
Sorry to ask such a trivial question - but how EXACTLY do you define engulfing candle?
Is your reference
high and low
or
open and close?
Does the 2nd candle always have to totally engulf the first one or is equal on one side admissable?
  • #25
  • Mar 22, 2020 11:56am Mar 22, 2020 11:56am
Quoting josi
Sorry to ask such a trivial question - but how EXACTLY do you define engulfing candle? Is your reference high and low or open and close? Does the 2nd candle always have to totally engulf the first one or is equal on one side admissable?
Hi Jo,
Listen bud, it seems to me you are not familiar with candle formations. I suggest you do some due diligence and learn it on your own bcz its important to know about all candle formation to understand the engulf benefits. This method of trading is advance and I don't want you to get hurt with limited knowledge about it.
The second part of your no its not close or open but rather the High (Cliff) and Low (Valley) of the whole Price Action. Refer to post 17 for more clarity.
Nobody ever made a dime by panicking. Jim C
  • #26
  • Mar 22, 2020 12:25pm Mar 22, 2020 12:25pm
Quoting FxQB15
{quote} Hi Jo, Listen bud, it seems to me you are not familiar with candle formations. I suggest you do some due diligence and learn it on your own bcz its important to know about all candle formation to understand the engulf benefits. This method of trading is advance and I don't want you to get hurt with limited knowledge about it. The second part of your no its not close or open but rather the High (Cliff) and Low (Valley) of the whole Price Action. Refer to post 17 for more clarity.
Sure, smart aleck,
and once you have learned how to define an engulfing pattern before putting it in your rules you post me again.
Till then keep on playing in your valleys and hills.
  • #27
  • Mar 22, 2020 12:54pm Mar 22, 2020 12:54pm
Quoting josi
{quote} Sure, smart aleck, and once you have learned how to define an engulfing pattern before putting it in your rules you post me again. Till then keep on playing in your valleys and hills.
It seems like you took my reply in a wrong way. That's fine have a good one.

Trade well.
Nobody ever made a dime by panicking. Jim C
  • #28
  • Mar 22, 2020 1:15pm Mar 22, 2020 1:15pm
oh oh
  • #29
  • Edited 1:28pm Mar 22, 2020 1:17pm | Edited 1:28pm
I just placed bunch of engulfing images to the 1st post.
My apologies for not doing that from the beginning.
I hope it's clearer now.

Trade well.
Nobody ever made a dime by panicking. Jim C
  • #30
  • Mar 22, 2020 2:53pm Mar 22, 2020 2:53pm
Quoting FxQB15
I just placed bunch of engulfing images to the 1st post. My apologies for not doing that from the beginning. I hope it's clearer now. Trade well.
I see you are a new member,if you had done some research you would have seen that there are numerous threads devoted to "engulfing" pattern trading.Trading these patterns doesn't work,just look at the J16 thread, he was a so called trading guru who promoted engulfing patterns...where is he now? GONE.
  • #31
  • Edited 5:22pm Mar 22, 2020 5:04pm | Edited 5:22pm
Quoting edge540
{quote} I see you are a new member,if you had done some research you would have seen that there are numerous threads devoted to "engulfing" pattern trading.Trading these patterns doesn't work,just look at the J16 thread, he was a so called trading guru who promoted engulfing patterns...where is he now? GONE.
Thanks for your reply.
I am fully aware of that.. and J16 was based on pin bar mostly, he was not transparent either.
My thread is more of a reversal style with engulf on top of the list.. nothing especial.. the focus also will be on trade management, risk management etc, to maximize profitability on a given move or trend.
I will change the title of the thread when I come to think of it bcz I am a reversal trader.

Ok buddy you don't have to follow this thread.

Trade well.
Nobody ever made a dime by panicking. Jim C
  • #32
  • Mar 22, 2020 5:27pm Mar 22, 2020 5:27pm
Quoting edge540
{quote} I see you are a new member,if you had done some research you would have seen that there are numerous threads devoted to "engulfing" pattern trading.Trading these patterns doesn't work,just look at the J16 thread, he was a so called trading guru who promoted engulfing patterns...where is he now? GONE.
In reference to the engulfing patterns, it much depends on the location they are formed, do some research and don't trade just any engulfing pattern. Most people will follow a thread if they see some light or interest in the thread and from my past 15 years of trading there are huge rewards if you trade the engulfing pattern correctly. Stay on board and you me see some interesting methods pop up, or leave the thread on your own accord....
  • #33
  • Edited 6:04pm Mar 22, 2020 5:51pm | Edited 6:04pm
I am glad to see the Market open with no huge gap today. Could be a slight sign for a normality.. will see.
Nobody ever made a dime by panicking. Jim C
  • #34
  • Mar 22, 2020 7:13pm Mar 22, 2020 7:13pm
I like to pose a question.
In the chart below, inside the blue box, would you consider that a Bullish engulf candle or not? and if Yes.. would you trade it?
Thx
Attached Image (click to enlarge)
Click to Enlarge Name: 1111.png Size: 27 KB
Nobody ever made a dime by panicking. Jim C
  • #35
  • Mar 22, 2020 7:51pm Mar 22, 2020 7:51pm
Quoting FxQB15
I like to pose a question. In the chart below, inside the blue box, would you consider that a Bullish engulf candle or not? and if Yes.. would you trade it? Thx {image}
the close price of the bear candle is lower than the open price of the bull candle from what I can see and it does NOT appear to be and engulfing pattern. My View only, but if the high of the bull candle is broken then the trade is there.
  • #36
  • Mar 22, 2020 7:59pm Mar 22, 2020 7:59pm
Quoting FxQB15
I like to pose a question. In the chart below, inside the blue box, would you consider that a Bullish engulf candle or not? and if Yes.. would you trade it? Thx {image}
Also QB, look up from the square box, the 11th candle high 0.66845 low approx. 0.63154 that is called a bearish engulfing out side bar. Note how many previous candle it engulfed and how strong the move was- don't always look at the real body only.
  • #37
  • Edited 10:50pm Mar 22, 2020 10:17pm | Edited 10:50pm
The reason I posed this question is, from the look of it, it counts as a engulf to me since body to body it does cover and breaks the top, however with those wicks I would not trade it in a million year... so the point is, not every engulf even at the best spot (Valley or Cliff or possessing any other confluences) is wise to trade when the candle is so weak looking.. in this case it is a total spinner.
Nobody ever made a dime by panicking. Jim C
  • #38
  • Mar 22, 2020 10:22pm Mar 22, 2020 10:22pm
Quoting peterhenders
{quote} Also QB, look up from the square box, the 11th candle high 0.66845 low approx. 0.63154 that is called a bearish engulfing out side bar. Note how many previous candle it engulfed and how strong the move was- don't always look at the real body only.
I agree with you.. and I almost decided to eat the 350pips loss to get out of my stupid long trade as I was pretty sure the drop was imminent.
Great observation brother.
Nobody ever made a dime by panicking. Jim C
  • #39
  • Mar 22, 2020 11:38pm Mar 22, 2020 11:38pm
Quoting FxQB15
I like to pose a question. In the chart below, inside the blue box, would you consider that a Bullish engulf candle or not? and if Yes.. would you trade it? Thx {image}
1. Yes, I would consider it a bullish engulf.
2. No, I would not take a position either way, too much wick
Ecclesiastes 1:9
  • #40
  • Mar 22, 2020 11:40pm Mar 22, 2020 11:40pm
Quoting newbegger
{quote} 1. Yes, I would consider it a bullish engulf. 2. No, I would not take a position either way, too much wick
Absolutely brother.

Trade well.
Nobody ever made a dime by panicking. Jim C
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