MTF Engulf / Engulf fail | Page 110 | 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

  • #2,181
  • Feb 26, 2024 2:02am Feb 26, 2024 2:02am
Quoting Inthebox
gold direction for the week is up. which one can your eyes see better. 1. eg ef 2. fvg ifvg 3. snr {image}
3. snr

1. and 2. zone is too wide for me to use.

What do you recommend to use ?
I might be wrong , I have been wrong before
  • #2,182
  • Feb 26, 2024 2:04am Feb 26, 2024 2:04am
Quoting Inthebox
gold direction for the week is up. which one can your eyes see better. 1. eg ef 2. fvg ifvg 3. snr {image}
i prefer option 1
  • #2,183
  • Feb 26, 2024 2:24am Feb 26, 2024 2:24am
long in that candle
Attached Image (click to enlarge)
Click to Enlarge Name: gold trade 260224.png Size: 25 KB
  • #2,184
  • Feb 26, 2024 2:27am Feb 26, 2024 2:27am
gold long set up during frankfurt and london open
i use ifvg for this case.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 7 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,185
  • Feb 26, 2024 2:30am Feb 26, 2024 2:30am
Quoting Mandariin
{quote} 3. snr 1. and 2. zone is too wide for me to use. What do you recommend to use ?
it does not matter which one.
when you are waiting for TOA of frankfurt and london open, what do you see?
it is not about what i see. i can see all three.
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,186
  • Feb 26, 2024 3:45am Feb 26, 2024 3:45am
Hi In the Box I have a similar strategy for gold yet its even more simple. Check it out:

Price moves up/down and you wait..... until you get engulfing on 15min or 30min (depends how fast the price moves). Then you set buy and sell stop 20 cents above/below that engulfing.
Have a close trail.
If when in a trade you see another engulfing you either close the trade and set the sell/buy stop again or ignore it and hold it....its up to you.

The idea of this strategy is that if the price finds a meaningful level the price will reverse and if not then it has just rested enough to continue with the current trend.

What do you think?
  • #2,187
  • Feb 26, 2024 4:37am Feb 26, 2024 4:37am
Quoting Inthebox
{quote} it does not matter which one. when you are waiting for TOA of frankfurt and london open, what do you see? it is not about what i see. i can see all three.
Hey Itb
when u use ifvg do u enter when the candle closes above the gap(making it ifvg)
or wait for retracement back into ifvg?
thnx in adv!
Craig
  • #2,188
  • Feb 26, 2024 4:53am Feb 26, 2024 4:53am
Quoting craigl76
{quote} Hey Itb when u use ifvg do u enter when the candle closes above the gap(making it ifvg) or wait for retracement back into ifvg? thnx in adv! Craig
hey, you can split into 2 units and do both.
whereas the 1st one is more likely for fast moving news trading.
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,189
  • Feb 27, 2024 2:46am Feb 27, 2024 2:46am
Quoting Inthebox
gold direction for the week is up. which one can your eyes see better. 1. eg ef 2. fvg ifvg 3. snr {image}
if you believe that this week direction for gold is up
so what you were off in entries.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 35 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,190
  • Feb 27, 2024 3:38am Feb 27, 2024 3:38am
@ITB

if a long-legged doji gets engulfed by a following candle, should I consider it an EG zone?
Success = Practice + Patience + Persistence
  • #2,191
  • Feb 27, 2024 4:13am Feb 27, 2024 4:13am
Quoting fxpider
@ITB if a long-legged doji gets engulfed by a following candle, should I consider it an EG zone?
yes. move time frame upward and downward to get clearer picture.
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,192
  • Feb 27, 2024 4:27am Feb 27, 2024 4:27am
is this good to buy?
of course 15min later you will know.
but now what about now?
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 2 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,193
  • Feb 27, 2024 4:33am Feb 27, 2024 4:33am
Quoting Inthebox
is this good to buy? of course 15min later you will know. but now what about now? {image}
In my opinion, yes earlier three candles were all attempting to sell past the EG, the most recent candle seems like a stop hunt for the buys to me, before finally going up
  • #2,194
  • Feb 27, 2024 4:36am Feb 27, 2024 4:36am
Quoting lolxhaha
{quote} In my opinion, yes earlier three candles were all attempting to sell past the EG, the most recent candle seems like a stop hunt for the buys to me, before finally going up
for now i shall just say if buying wait for new york session.
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,195
  • Feb 27, 2024 4:41am Feb 27, 2024 4:41am
Quoting Inthebox
{quote} for now i shall just say if buying wait for new york session.
agreed, we are well into the dead zone of London's session
  • #2,196
  • Feb 27, 2024 4:51am Feb 27, 2024 4:51am
becomes ranging. which side will break?
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 6 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,197
  • Feb 27, 2024 4:59am Feb 27, 2024 4:59am
Quoting Inthebox
becomes ranging. which side will break? {image}
Come back maybe one hour before NY open? If we don't have an answer by the open then i prefer to sit out until i have confirmation on either side
  • #2,198
  • Feb 27, 2024 5:08am Feb 27, 2024 5:08am
Quoting lolxhaha
{quote} Come back maybe one hour before NY open? If we don't have an answer by the open then i prefer to sit out until i have confirmation on either side
note news events
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: < 1 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,199
  • Feb 27, 2024 5:12am Feb 27, 2024 5:12am
Quoting Inthebox
becomes ranging. which side will break? {image}
What a mess !!

I have no clue how to pick a side.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 39 KB
Success = Practice + Patience + Persistence
  • #2,200
  • Feb 27, 2024 5:35am Feb 27, 2024 5:35am
reasoning
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 13 KB
ITB - Seeing Orderliness amongst 'Randomness'
15 traders viewing now