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MTF Engulf / Engulf fail

  • #601
  • Oct 20, 2023 6:51am Oct 20, 2023 6:51am
Quoting Inthebox
{quote} SL as mentioned in post 1 to be beyond any engulfs that suits my 30-40 pips range. in this instant, it is nearer to the lower engulf. and i do not use a hard stop. furthermore gj is known as the beast. so no small sl.
Interesting that you do not use a hard stop. Do you base all your entries on your max sl (between 30 - 40 pips) to work out your lotsize/% risk?
  • #602
  • Oct 20, 2023 6:58am Oct 20, 2023 6:58am
Quoting Villafan911
{quote} Interesting that you do not use a hard stop. Do you base all your entries on your max sl (between 30 - 40 pips) to work out your lotsize/% risk?
sometimes when price across SL line, i wait to see a candle close. maybe m30 or even h1.
i prefer to wait because many times i see candle ends up as pin bar.
my position size is fixed. can't be bothered to calculate every time there is a trade.
just for example 10k account use 1 lot.
you can then divide it by 2 or 3 or 5 whatever.
so the smaller the lot, you can do multiple layering of entries by averaging them out.
ITB - Seeing Orderliness amongst 'Randomness'
  • #603
  • Oct 20, 2023 7:51am Oct 20, 2023 7:51am
gold sell
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ITB - Seeing Orderliness amongst 'Randomness'
  • #604
  • Oct 20, 2023 8:23am Oct 20, 2023 8:23am
so now we wait on retest on gold for further sell
  • #605
  • Oct 20, 2023 8:25am Oct 20, 2023 8:25am
Quoting Inthebox
{quote} do you understand this? https://www.forexfactory.com/thread/...6#post14624586 you only need to draw one or two htf engulf and within that engulf, switch to lower time frame to find one or two ltf engulf. for example htf engulf h4, switch to h1, m30, say m15 you found one, stop. do not go down to m5 anymore.

Hi

Thanks for your time to respond.

On the image below - why werent these engulfs taken into consideration (or perhaps they were and then removed?)

Sorry for the pestering questions - its just the "key" engulfs in real time i am trying to identify
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  • #606
  • Oct 20, 2023 8:47am Oct 20, 2023 8:47am
dax buy
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ITB - Seeing Orderliness amongst 'Randomness'
  • #607
  • Oct 20, 2023 8:49am Oct 20, 2023 8:49am
Quoting Pervaz
{quote} Hi Thanks for your time to respond. On the image below - why werent these engulfs taken into consideration (or perhaps they were and then removed?) Sorry for the pestering questions - its just the "key" engulfs in real time i am trying to identify {image}
look at the freshest one.
when price dropped with 2 red candles, which nearest opposite engulf it is going to meet?
ITB - Seeing Orderliness amongst 'Randomness'
  • #608
  • Oct 20, 2023 9:56am Oct 20, 2023 9:56am
nasdaq sell
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ITB - Seeing Orderliness amongst 'Randomness'
  • #609
  • Oct 20, 2023 11:40am Oct 20, 2023 11:40am
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  • #610
  • Oct 20, 2023 12:02pm Oct 20, 2023 12:02pm
Inserted Video
ITB - Seeing Orderliness amongst 'Randomness'
  • #611
  • Oct 20, 2023 12:14pm Oct 20, 2023 12:14pm
Quoting Heini
{image}
know whether trading trend or counter trend
and take appropriate TP range.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #612
  • Oct 20, 2023 12:32pm Oct 20, 2023 12:32pm
Quoting Inthebox
{quote} know whether trading trend or counter trend and take appropriate TP range. {image} {image}
I don't know if I understood it, TP first against Engulf in the time frame where Entry was?
  • #613
  • Oct 20, 2023 12:48pm Oct 20, 2023 12:48pm
Quoting Heini
{quote} I don't know if I understood it, TP first against Engulf in the time frame where Entry was?
daily trend is down.
buying would be counter trend.
so the TP will be lesser.
in m5 there is a road block engulf with fib 50-62 area.
if price drop from there, probably will go down to 14430 area.
however could be too far away for today.
maybe will take out today low the 14558 area.
but then again i could be dead wrong.
ITB - Seeing Orderliness amongst 'Randomness'
  • #614
  • Oct 20, 2023 1:09pm Oct 20, 2023 1:09pm
I see, no entry against the trend! I wanted to go from Engulf to Engulf - ok is too greedy
  • #615
  • Oct 20, 2023 1:30pm Oct 20, 2023 1:30pm
Quoting Heini
I see, no entry against the trend! I wanted to go from Engulf to Engulf - ok is too greedy
sometimes counter trend can be 100 pips.
you can counter trend but note where are the road blocks.
engulf to engulf is correct.
but not from m5 engulf reaching for m30 engulf.
should be m30 engulf to m30 engulf.
m15 engulf to m15 engulf and so on.
ITB - Seeing Orderliness amongst 'Randomness'
  • #616
  • Oct 20, 2023 1:48pm Oct 20, 2023 1:48pm
GU M15
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  • #617
  • Oct 20, 2023 1:52pm Oct 20, 2023 1:52pm
Quoting Inthebox
{quote} sometimes counter trend can be 100 pips. you can counter trend but note where are the road blocks. engulf to engulf is correct. but not from m5 engulf reaching for m30 engulf. should be m30 engulf to m30 engulf. m15 engulf to m15 engulf and so on.
yes, I can see it now in the chart what they mean, I still have a lot to learn - thank you very much
  • #618
  • Oct 20, 2023 1:59pm Oct 20, 2023 1:59pm
Quoting OTT
GU M15 {image}
engulfs all coming together in one location.
next time find target with more distance apart for engulf to engulf.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #619
  • Oct 20, 2023 2:09pm Oct 20, 2023 2:09pm
Quoting Inthebox
{quote} know whether trading trend or counter trend and take appropriate TP range. {image} {image}
take half profit, half to run and protected.
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #620
  • Oct 20, 2023 2:16pm Oct 20, 2023 2:16pm
Quoting Inthebox
{quote} engulfs all coming together in one location. next time find target with more distance apart for engulf to engulf. {image}
Okay.

My questions:
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