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MTF Engulf / Engulf fail

  • #1,961
  • Feb 6, 2024 8:13am Feb 6, 2024 8:13am
Road block lets see what the temperamental bitch does
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  • #1,962
  • Feb 6, 2024 8:32am Feb 6, 2024 8:32am
Quoting Inthebox
{quote} {quote} wow! you even know what he is going to have for dinner tonight. the trader that lost 3% but later made back 4.5% yesterday, he already left after making 2% today. {image} {image}
Sir this double maribozu or kink I think Melfx marks this as "dominant break". Are we supposed to mark this zone as well if we see it. I know this is a lower time frame roadblock/engulfing but how significant are they in turning the price? I have seen them turn price without reaching the opposite engulf target that is why I am asking
Just by itself, winrate is 50%, but with multitimeframe winrate is 90%
  • #1,963
  • Feb 6, 2024 8:43am Feb 6, 2024 8:43am
Quoting melord
{quote} Sir this double maribozu or kink I think Melfx marks this as "dominant break". Are we supposed to mark this zone as well if we see it. I know this is a lower time frame roadblock/engulfing but how significant are they in turning the price? I have seen them turn price without reaching the opposite engulf target that is why I am asking
no double marubozu is not from melfx. i learned from elsewhere.
as to how significant they are, you got to do your own backtest.
as with other things, if happen in higher the time frame the better.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,964
  • Feb 6, 2024 9:00am Feb 6, 2024 9:00am
the image of a truly tested trader day in day out.
.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #1,965
  • Edited 7:35pm Feb 6, 2024 9:30am | Edited 7:35pm
Another cracker, done for the week after TP hit, sorry for swing trade charts.
Update TP hit
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  • #1,966
  • Feb 6, 2024 4:03pm Feb 6, 2024 4:03pm
UJ: Post NFP trade. Had to hold for 3 days.

Thesis: A PUMP is always followed by a DUMP.
1st position: based on assumption (A stupid way to trade!)
The Rest: based on the PA confirmation.

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Success = Practice + Patience + Persistence
  • #1,967
  • Edited 6:32pm Feb 6, 2024 6:08pm | Edited 6:32pm
we are now on page 50 so i won't be around for long.
https://www.forexfactory.com/thread/...1#post14732581
let's do some practicing for those who want to participate.
nzd had been bullish after the news.
draw 1 engulfing above 1 below nearest to the current market price
for w1 d1 and h4 for NZDUSD. 6 in total.
do not draw extras. we are only interested in the direction.
PS. do not use this practice for live trades.

drop your shyness, drop your pride.
your skin got to be as thick as elephant's in order to learn.
no need to save face.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,968
  • Feb 6, 2024 6:32pm Feb 6, 2024 6:32pm
Quoting Inthebox
we are now on page 50 so i won't be around for long. https://www.forexfactory.com/thread/...1#post14732581 let's do some practicing for those who want to participate. nzd had been bullish after the news. draw 1 engulfing above 1 below nearest to the current market price for w1 d1 and h4 for NZDUSD. 6 in total. do not draw extras. we are only interested in the direction. PS. do not use this practice for live trades. drop your shyness, drop your pride. your skin got to be as thick as elephant's in order to learn.
Only eg or ef as well?
Success = Practice + Patience + Persistence
  • #1,969
  • Feb 6, 2024 6:38pm Feb 6, 2024 6:38pm
Quoting fxpider
{quote} Only eg or ef as well?
both engulfings
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,970
  • Feb 6, 2024 6:54pm Feb 6, 2024 6:54pm
Even though, I use only two TF for mapping. Just trying it out, as instructed by the BOSS.

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Success = Practice + Patience + Persistence
  • #1,971
  • Feb 6, 2024 7:11pm Feb 6, 2024 7:11pm
UJ: The bulls and the bears are fighting hard to reclaim the zone.

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Success = Practice + Patience + Persistence
  • #1,972
  • Feb 6, 2024 7:31pm Feb 6, 2024 7:31pm
Quoting Inthebox
we are now on page 50 so i won't be around for long. https://www.forexfactory.com/thread/...1#post14732581 let's do some practicing for those who want to participate. nzd had been bullish after the news. draw 1 engulfing above 1 below nearest to the current market price for w1 d1 and h4 for NZDUSD. 6 in total. do not draw extras. we are only interested in the direction. PS. do not use this practice for live trades. drop your shyness, drop your pride. your skin got to be as thick as elephant's in order to learn. no need to save...
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  • #1,973
  • Feb 6, 2024 7:36pm Feb 6, 2024 7:36pm
Quoting Inthebox
we are now on page 50 so i won't be around for long. https://www.forexfactory.com/thread/...1#post14732581 let's do some practicing for those who want to participate. nzd had been bullish after the news. draw 1 engulfing above 1 below nearest to the current market price for w1 d1 and h4 for NZDUSD. 6 in total. do not draw extras. we are only interested in the direction. PS. do not use this practice for live trades. drop your shyness, drop your pride. your skin got to be as thick as elephant's in order to learn. no need to save...
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Just by itself, winrate is 50%, but with multitimeframe winrate is 90%
  • #1,974
  • Feb 6, 2024 8:19pm Feb 6, 2024 8:19pm
Quoting Inthebox
we are now on page 50 so i won't be around for long. https://www.forexfactory.com/thread/...1#post14732581 let's do some practicing for those who want to participate. nzd had been bullish after the news. draw 1 engulfing above 1 below nearest to the current market price for w1 d1 and h4 for NZDUSD. 6 in total. do not draw extras. we are only interested in the direction. PS. do not use this practice for live trades. drop your shyness, drop your pride. your skin got to be as thick as elephant's in order to learn. no need to save...
No wayyyyy dont leave us Professor Itb. It's too soon. We must have made you soo mad sometimes with our stupidity and naivety due to our inexperience. Thanks for your patience. Thanks for you knowledge. I hope you will stay for 10 more years here
Just by itself, winrate is 50%, but with multitimeframe winrate is 90%
  • #1,975
  • Feb 6, 2024 8:19pm Feb 6, 2024 8:19pm
i am waiting for 2 more participants.
the 3 who had participated can proceed to do your entries if any.
remember that you only can switch 1 or 2 time frames at a time, no jumping straight to m5.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,976
  • Feb 6, 2024 8:29pm Feb 6, 2024 8:29pm
Quoting Inthebox
i am waiting for 2 more participants. the 3 who had participated can proceed to do your entries if any. remember that you only can switch 1 or 2 time frames at a time, no jumping straight to m5.
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  • #1,977
  • Feb 6, 2024 8:34pm Feb 6, 2024 8:34pm
Quoting melord
{quote} No wayyyyy dont leave us Professor Itb. It's too soon. We must have made you soo mad sometimes with our stupidity and naivety due to our inexperience. Thanks for your patience. Thanks for you knowledge. I hope you will stay for 10 more years here
we have our priorities in life.
i had spent so much time here that i have neglected some others.
later on i talk more about that.
as mentioned in post 1 this thread is already a course to take by itself.
whether an individual will refer to it from time to time to refresh his memory and carry on to take action in the application of it is not within my control.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,978
  • Edited 8:56pm Feb 6, 2024 8:39pm | Edited 8:56pm
Quoting JohanMarais
{quote} {image}
that long bullish candle was at news time.
also we are not scalping here. even then we have to wait for pullback entry.
so this is not realistic enough for an entry there.
otherwise the entry will be at the m30 candle close.
ITB - Seeing Orderliness amongst 'Randomness'
  • #1,979
  • Feb 6, 2024 9:48pm Feb 6, 2024 9:48pm
heavy short zones on h4
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trading is like dancing, don't think and just listen to the music!
  • #1,980
  • Feb 6, 2024 9:53pm Feb 6, 2024 9:53pm
Quoting Inthebox
we are now on page 50 so i won't be around for long. https://www.forexfactory.com/thread/...1#post14732581 let's do some practicing for those who want to participate. nzd had been bullish after the news. draw 1 engulfing above 1 below nearest to the current market price for w1 d1 and h4 for NZDUSD. 6 in total. do not draw extras. we are only interested in the direction. PS. do not use this practice for live trades. drop your shyness, drop your pride. your skin got to be as thick as elephant's in order to learn. no need to...
great sentence, good and mature attitude.

i'm having discussions with my family about it right now, because they can't deal with my directness, but it would help them.

i remember krishnamurti as a great teacher in these mental things.
trading is like dancing, don't think and just listen to the music!
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