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MTF Engulf / Engulf fail

  • #1,901
  • Feb 5, 2024 2:19am Feb 5, 2024 2:19am
Quoting Inthebox
{quote} ef eg buy {image}
the 15 pips trader had left after making 1%. worked less than 2 hours.
now only the 20 pips 2% trader still around making coffee.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,902
  • Edited 4:14am Feb 5, 2024 3:52am | Edited 4:14am
Quoting Inthebox
{quote} the 15 pips trader had left after making 1%. worked less than 2 hours. now only the 20 pips 2% trader still around making coffee. {image}
now the market is against the trader.
he can either exit with loss when there is a test of ef sell or
exit when there is a candle closing below the m30 eg buy.
which will also be around 20 pips.
he chose the latter.
edit: just clear up. it is m30 eg buy, so will be a m30 candle close.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,903
  • Feb 5, 2024 4:26am Feb 5, 2024 4:26am
My trade of today:

This is all u need to be a pro trader, nothing else needed.( on a daily basis)


Greed will say... hey u left lot of pips on the table, fear could say... ur stop loss too tight. Greed again, u took profit on a fix place, u could wait for engulf, or rejection or or or bla bla, the thing is for me this is enough for daily target based on % porcentage % . Period.

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Reasson behind the trade.
H1
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m15
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m5
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m1
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This engulf approach has helped me a lot to filter trades and finetune my view.

Cheers ITB.

  • #1,904
  • Feb 5, 2024 4:36am Feb 5, 2024 4:36am
Quoting Inthebox
{quote} now the market is against the trader. he can either exit with loss when there is a test of ef sell or exit when there is a candle closing below the m30 eg buy. which will also be around 20 pips. he chose the latter. edit: just clear up. it is m30 eg buy, so will be a m30 candle close. {image}
so today the last trader made a loss.
however he was nonchalant about the whole thing. why?
the most important thing is that he traded according to the rules.
he has the conviction that it is just a temporary set back but will ultimately be successful in the longer medium term.
i believe so as every one can see the success rate from asia to europe sessions today.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,905
  • Feb 5, 2024 4:47am Feb 5, 2024 4:47am
i hope that traders can already form some views about this method.
of course it is very dependent on the "right" pair that has been "picked"
as gbpusd had already been ranging for the longest time.
looks like it could break to the downside.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,906
  • Feb 5, 2024 4:52am Feb 5, 2024 4:52am
fxpider
you are not posting.
are you trying to slow things down. LOL.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,907
  • Feb 5, 2024 5:29am Feb 5, 2024 5:29am
i have already made my pips with the downmove in GU, but now i would only looking for longs because of the big daily eg and a few other things;-)
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trading is like dancing, don't think and just listen to the music!
  • #1,908
  • Feb 5, 2024 5:53am Feb 5, 2024 5:53am
HI,
EURUSD
in case we will get retracement from here would you look at this EF (first arrow from the top) or in this case this EF doesnt matter?
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  • #1,909
  • Feb 5, 2024 6:18am Feb 5, 2024 6:18am
Quoting Ziemowit
HI, EURUSD in case we will get retracement from here would you look at this EF (first arrow from the top) or in this case this EF doesnt matter? {image}
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,910
  • Feb 5, 2024 6:26am Feb 5, 2024 6:26am
Quoting Inthebox
{quote} {image}
update completion.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,911
  • Feb 5, 2024 6:30am Feb 5, 2024 6:30am
enough posting for today
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,912
  • Feb 5, 2024 7:22am Feb 5, 2024 7:22am
Quoting Inthebox
fxpider you are not posting. are you trying to slow things down. LOL. {image}
Just lurking..

and trying to get the boxes in order....
Success = Practice + Patience + Persistence
  • #1,913
  • Feb 5, 2024 7:58am Feb 5, 2024 7:58am
GJ: Post NFP trade, bullish rejection @ HTF EG.

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Success = Practice + Patience + Persistence
  • #1,914
  • Feb 5, 2024 8:48am Feb 5, 2024 8:48am
take a look at gold
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,915
  • Feb 5, 2024 8:59am Feb 5, 2024 8:59am
Quoting Inthebox
take a look at gold {image}


Add DXY to your Gold chart. Scratching my head trying to figure out what is going on!
  • #1,916
  • Feb 5, 2024 9:21am Feb 5, 2024 9:21am
Quoting Inthebox
take a look at gold {image}
No 5 min confirmation to take long yet
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Just by itself, winrate is 50%, but with multitimeframe winrate is 90%
  • #1,917
  • Feb 5, 2024 9:52am Feb 5, 2024 9:52am
Quoting Inthebox
many traders differ on the requirements for engulfing. mine is as follows for the indicator. {image}
Hi Inthebox,

Nice to see you keep going and with success using this system.

After the explanation about engukfing I take it as you dont look for multiple candles to engulf like you previously did, correct?

Thanks
Kind Regards
  • #1,918
  • Feb 5, 2024 10:01am Feb 5, 2024 10:01am
Quoting melord
{quote} No 5 min confirmation to take long yet{image}
5min engulf might have happened. Lets go up
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Just by itself, winrate is 50%, but with multitimeframe winrate is 90%
  • #1,919
  • Feb 5, 2024 10:06am Feb 5, 2024 10:06am
Quoting Inthebox
take a look at gold {image}
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,920
  • Feb 5, 2024 10:14am Feb 5, 2024 10:14am
Quoting Frag8383
{quote} Hi Inthebox, Nice to see you keep going and with success using this system. After the explanation about engukfing I take it as you dont look for multiple candles to engulf like you previously did, correct? Thanks Kind Regards
that was simplified for the indicator.
post 1 rule still stands.
you have 2 candles engulf.
you also have multiple ones.

example why it is so.
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ITB - Seeing Orderliness amongst 'Randomness'
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