MTF Engulf / Engulf fail | Page 11 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Engulf Bar Trading Journal 19 replies

MPE - Momentum, Pullback, Engulf 33 replies

Trade management - moving stops to BE+ after opposing engulf 2 replies

Engulf Alert Indicator 1 reply

MTF Stochastics into MTF Stoch Histogram 8 replies

Attachments: MTF Engulf / Engulf fail
Exit Attachments

MTF Engulf / Engulf fail

  • #201
  • Oct 3, 2023 5:58am Oct 3, 2023 5:58am
london open
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 11 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #202
  • Oct 3, 2023 7:27am Oct 3, 2023 7:27am
Quoting Inthebox
london open {image}
Didn't this engulfing candle make you concerned?
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 11 KB
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #203
  • Oct 3, 2023 8:17am Oct 3, 2023 8:17am
Quoting heispark
{quote} Didn't this engulfing candle make you concerned? {image}
no. d1 bullish, h4 bullish.
clear h4 resistant, never closed below and bounced up.
ITB - Seeing Orderliness amongst 'Randomness'
  • #204
  • Oct 3, 2023 8:20am Oct 3, 2023 8:20am
Quoting heispark
{quote} Didn't this engulfing candle make you concerned? {image}
This line from #1 post may answer your question:
"As it is of a much smaller time frame, it is better that the engulf fail to be followed up with an engulf set up."

Your highlighted engulf will work if it removed the setup engulf that inthebox entered. But even if it happens, we will not enter short because of the HTF bias.
  • #205
  • Oct 3, 2023 8:26am Oct 3, 2023 8:26am
london open for ga
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 13 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #206
  • Oct 3, 2023 8:27am Oct 3, 2023 8:27am
Quoting Inthebox
{quote} no. d1 bullish, h4 bullish. clear h4 resistant, never closed below and bounced up.
Ok, I see. Although D1 and H4 are bullish, is it possible some pull-back on 4H chart?
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.aH4.png Size: 23 KB
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #207
  • Oct 3, 2023 8:31am Oct 3, 2023 8:31am
Quoting heispark
{quote} Ok, I see. Although D1 and H4 are bullish, is it possible some pull-back on 4H chart? {image}
if price is coming down, first it has to break ltf bullish engulf.
ITB - Seeing Orderliness amongst 'Randomness'
  • #208
  • Edited 9:02am Oct 3, 2023 8:42am | Edited 9:02am
Quoting Inthebox
{quote} if price is coming down, first it has to break ltf bullish engulf.
Ok, so you put your SL under the followign candle, right?
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 11 KB

Edit: I mean the 4H candle didn't close above the yellow line in your chart before you entered your long trade. Therefore it looked somewhat risky IMHO....
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #209
  • Oct 3, 2023 8:48am Oct 3, 2023 8:48am
Quoting imifx
GJ up or down? I will take an entry once spread get little lower (NFA) {image}
Now you know what I know.

Well played.

@Inthebox
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 6 KB
If you believe in yourself anything is possible !!
  • #210
  • Oct 3, 2023 9:27am Oct 3, 2023 9:27am
Quoting heispark
{quote} Ok, so you put your SL under the followign candle, right? {image} Edit: I mean the 4H candle didn't close above the yellow line in your chart before you entered your long trade. Therefore it looked somewhat risky IMHO....
yes. 30-40 pips.
ITB - Seeing Orderliness amongst 'Randomness'
  • #211
  • Oct 3, 2023 10:10am Oct 3, 2023 10:10am
Quoting imifx
{quote} Out before market bites me {image}

It helps if you can include the time frame you are looking at just saves a lot of faffing....
  • #212
  • Oct 3, 2023 11:00am Oct 3, 2023 11:00am
Quoting imifx
Who captured this genius zone Bro Inthebox {image}
As far as I know, according to OP's strategy, huge bull candle on the right nullified your sell setup (red marking in the pic).
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #213
  • Oct 3, 2023 11:02am Oct 3, 2023 11:02am
Quoting stevepatt
{quote} It helps if you can include the time frame you are looking at just saves a lot of faffing....
sorry it was M15
If you believe in yourself anything is possible !!
  • #214
  • Oct 3, 2023 11:04am Oct 3, 2023 11:04am
Quoting heispark
{quote} As far as I know, according to OP's strategy, huge bull candle on the right nullified your sell setup (red marking in the pic).
trend is down, sometime such huge candles prints long wick on higher TF. May be I am lucky today.
If you believe in yourself anything is possible !!
  • #215
  • Oct 3, 2023 11:09am Oct 3, 2023 11:09am
I deleted my post, don't want other to get confused with mix method. Please follow what thread owner is teaching. Trades can be taken on multiple factors however one needs to master one before.
If you believe in yourself anything is possible !!
  • #216
  • Oct 3, 2023 11:17am Oct 3, 2023 11:17am
Quoting imifx
{quote} trend is down, sometime such huge candles prints long wick on higher TF. May be I am lucky today.
Doesn't look very good sell-setup, especially when I look at daily chart.....
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #217
  • Oct 3, 2023 11:20am Oct 3, 2023 11:20am
Quoting heispark
{quote} Doesn't look very good sell-setup, especially when I look at daily chart.....
Thanks, can you please show? May be I will be more curious going forward.
If you believe in yourself anything is possible !!
  • #218
  • Oct 3, 2023 11:31am Oct 3, 2023 11:31am
Quoting imifx
{quote} Thanks, can you please show? May be I will be more curious going forward.
Gold daily chart.... See where you are currently.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_2023-10-03_22-53-46.png Size: 30 KB
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #219
  • Oct 3, 2023 11:51am Oct 3, 2023 11:51am
Quoting heispark
{quote} Gold daily chart.... See where you are currently. {image}
Ahh, I got you. I believe you won't hesitate taking a scalp trade with a tight SL. I am really thankful to you heispark for your advise, I love to get feedback and new learning opportunity.

I took one more trade on M5 and its going good. For this trade my SL is just 30 pips,
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 4 KB
If you believe in yourself anything is possible !!
  • #220
  • Oct 3, 2023 12:02pm Oct 3, 2023 12:02pm
It's all probability game, no one knows where market will go next. When have enough trading experience, trader can find opportunity everywhere.

What is important to take a trade?

Trend direction? NO
Signals by indicators? NO

A good or not so good setup with minimal equity loss (tight SL). I saw opportunity here too and decided to hold the pullback.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 9 KB
If you believe in yourself anything is possible !!
2 traders viewing now