MTF Engulf / Engulf fail | Page 23 | 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

  • #441
  • Oct 15, 2023 7:32am Oct 15, 2023 7:32am
ITB, D engulf bounce, 30min failed engulf, enter new engulf.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: IMG_0211.png Size: 76 KB
Click to Enlarge Name: IMG_0212.png Size: 103 KB
  • #442
  • Oct 15, 2023 7:18pm Oct 15, 2023 7:18pm
acting as support or resistant?
one thing for sure, price will range between the lines.
flip through all time frames to determine yourself.
some will decide now and some during europe open.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 11 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #443
  • Oct 15, 2023 7:28pm Oct 15, 2023 7:28pm
Hi sir, have you tried using the open as the base and then whether price moves x pips above or bellow it for bias?
Trading is gambling. So gamble responsibly.
  • #444
  • Oct 15, 2023 7:37pm Oct 15, 2023 7:37pm
some trade only m1 with 4 entries. this is mechanical, no greed, no fear.
some would want to make m1 entries but hold them till previous day high low or section high low or some fractal high low.
so there is no necessity to commend on how others are trading because we do not know their trading styles.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 20 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #445
  • Oct 15, 2023 7:47pm Oct 15, 2023 7:47pm
Quoting Sovy
Hi sir, have you tried using the open as the base and then whether price moves x pips above or bellow it for bias?
you can use week or day or section open as reference points.
why wait for price to move x pips or not, we do not know whether it's an intended false move or not.
why not use how may engulfs or engulf fails had been broken for direction?
what we know is that price will move during europe london new york sessions.
when the time comes, wait and see what price is doing at a specific key level.
will those times provide more successful trades than outside of those times?
or else just scalp during other times.
ITB - Seeing Orderliness amongst 'Randomness'
  • #446
  • Oct 15, 2023 9:42pm Oct 15, 2023 9:42pm
Quoting Inthebox
{quote} you can use week or day or section open as reference points. why wait for price to move x pips or not, we do not know whether it's an intended false move or not. why not use how may engulfs or engulf fails had been broken for direction? what we know is that price will move during europe london new york sessions. when the time comes, wait and see what price is doing at a specific key level. will those times provide more successful trades than outside of those times? or else just scalp during other times.

Haha sorry, this question was supposedly for the adr range thingy. so weird how it ended up here. But yes, you are correct.
Trading is gambling. So gamble responsibly.
  • #447
  • Oct 15, 2023 10:48pm Oct 15, 2023 10:48pm
Quoting Inthebox
acting as support or resistant? one thing for sure, price will range between the lines. flip through all time frames to determine yourself. some will decide now and some during europe open. {image}
there are so many levels.
our job as trader is to find the right key level for our trade entry.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 17 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #448
  • Oct 16, 2023 1:35am Oct 16, 2023 1:35am
matching london open with trade set up zone
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 8 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #449
  • Oct 16, 2023 3:09am Oct 16, 2023 3:09am
Quoting Inthebox
matching london open with trade set up zone {image}
how you see GU so far?
PA Return Today: na
  • #450
  • Oct 16, 2023 3:21am Oct 16, 2023 3:21am
Quoting LeongPuiy
{quote} how you see GU so far?
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 11 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #451
  • Oct 16, 2023 4:17am Oct 16, 2023 4:17am
Quoting Inthebox
{quote} there are so many levels. our job as trader is to find the right key level for our trade entry. {image}
And how do you decide wichone is going to work or not?

That is the problem with order blocks engulfing and any kind of supply demand that you have so many areas

Thanks
Kind regards
  • #452
  • Oct 16, 2023 4:46am Oct 16, 2023 4:46am
Quoting Inthebox
{quote} {image}
ok. I see unfinish ssl down there.
15m displacement.
PA Return Today: na
  • #453
  • Oct 16, 2023 4:56am Oct 16, 2023 4:56am
Quoting Frag8383
{quote} And how do you decide wichone is going to work or not? That is the problem with order blocks engulfing and any kind of supply demand that you have so many areas Thanks Kind regards
i purposely use m1 because traders are so eager to trade that they can't wait.
so do not use m1 as a level to watch.
so let's say only do 1 trade per session. we have 2 trades per day.
surely we can wait for london and new york session to match a htf engulf right?
just like this one. https://www.forexfactory.com/thread/...4#post14618374
ITB - Seeing Orderliness amongst 'Randomness'
  • #454
  • Oct 16, 2023 5:06am Oct 16, 2023 5:06am
Quoting Inthebox
{quote} i purposely use m1 because traders are so eager to trade that they can't wait. so do not use m1 as a level to watch. so let's say only do 1 trade per session. we have 2 trades per day. surely we can wait for london and new york session to match a htf engulf right? just like this one. https://www.forexfactory.com/thread/...4#post14618374
Ok that looks very clean,

But what should at look into to have confidence that it will hold.

Wicks rejections, small candles hitting the zone for example or what will make me confident that will hold?

Edit I do not look at the 1 min chart, I do look at the 5 min
  • #455
  • Oct 16, 2023 5:10am Oct 16, 2023 5:10am
Quoting LeongPuiy
{quote} ok. I see unfinish ssl down there. 15m displacement.
actually my purpose is to buy because price bounced up from h4 bullish engulf.
and for last 2 weeks from bottom to top we are now at discount.
in the m30 we are also at discount.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 11 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #456
  • Oct 16, 2023 5:21am Oct 16, 2023 5:21am
Quoting Frag8383
{quote} Ok that looks very clean, But what should at look into to have confidence that it will hold. Wicks rejections, small candles hitting the zone for example or what will make me confident that will hold? Edit I do not look at the 1 min chart, I do look at the 5 min
if the method gives you 70% win rate would that give you the confidence to hold?
it all depend on the individual as there is no such thing as 100%.
some individual has 80-90% win rate.
so just put the SL expecting it to be hit 30% of the time.

it gives me confidence because:
1. london session volume
2. matching htf engulf during london session
3. ltf engulf matching htf engulf.

solely about the simplicity of mtf engulfing and breakout.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 11 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #457
  • Oct 16, 2023 5:23am Oct 16, 2023 5:23am
Quoting Inthebox
{quote} actually my purpose is to buy because price bounced up from h4 bullish engulf. and for last 2 weeks from bottom to top we are now at discount. in the m30 we are also at discount. {image}
ok. But currently the order flow favour bearish.
maybe we see any reverse at NY, but for now i still thinking 2104.7 as a ssl first.
From last 2 week, this 2104.7 as 79% discount.
PA Return Today: na
  • #458
  • Oct 16, 2023 5:40am Oct 16, 2023 5:40am
Quoting LeongPuiy
{quote} ok. But currently the order flow favour bearish. maybe we see any reverse at NY, but for now i still thinking 2104.7 as a ssl first. From last 2 week, this 2104.7 as 79% discount.
ok. just be aware of the weekly imbalance.
price can only target 2 places.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 9 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #459
  • Oct 16, 2023 6:01am Oct 16, 2023 6:01am
Quoting Inthebox
{quote} if the method gives you 70% win rate would that give you the confidence to hold? it all depend on the individual as there is no such thing as 100%. some individual has 80-90% win rate. so just put the SL expecting it to be hit 30% of the time. it gives me confidence because: 1. london session volume 2. matching htf engulf during london session 3. ltf engulf matching htf engulf. solely about the simplicity of mtf engulfing and breakout. {image}
Perfectly explained thanks a lotĦĦĦĦĦĦ
  • #460
  • Oct 16, 2023 6:27am Oct 16, 2023 6:27am
Quoting Inthebox
{quote} ok. just be aware of the weekly imbalance. price can only target 2 places. {image}
after taken out asia relative equal low ssl,
now it seem reversing
closed short for small pips.
PA Return Today: na
0 traders viewing now