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MTF Engulf / Engulf fail

  • #2,361
  • Mar 12, 2024 4:48am Mar 12, 2024 4:48am
Update on EU I've posted earlier:
1. price reached 4h BUEG
2. within 4h spotted 30m BUEG
3. on touch of 30m BUEG waited for 5m BUEG with limit orders

summary of this trade: TP of 1%, risking 0.4% for a short period of time.

in the screenshots before entry and after entry.
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  • #2,362
  • Mar 12, 2024 6:03am Mar 12, 2024 6:03am
Gu possible pullback area ?
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PA Return Today: na
  • #2,363
  • Mar 12, 2024 6:28am Mar 12, 2024 6:28am
Quoting LeongPuiy
Gu possible pullback area ? {image}
can take the south train if it is going to go down.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,364
  • Mar 12, 2024 7:18am Mar 12, 2024 7:18am
Quoting fxpider
GOLD: break of TL, break of support and BEEG. {image}
Trade update: closed all the trade before the red news. No gambling.

Gold: 40+ pips
AU and EU: stopped out with BE.

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Success = Practice + Patience + Persistence
  • #2,365
  • Mar 12, 2024 7:33am Mar 12, 2024 7:33am
Quoting Inthebox
{quote} can take the south train if it is going to go down. {image} {image}
thanks bro.
was waiting higher , if i wait it may miss the chance.
but i took it from your 1h there.
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PA Return Today: na
  • #2,366
  • Mar 12, 2024 7:37am Mar 12, 2024 7:37am
This is why we need to close all trades before major news, or atloeast not trade the instruments that directly affected by them
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  • #2,367
  • Mar 12, 2024 7:40am Mar 12, 2024 7:40am
GJ not directly affected by the news, and I've set my platform to trade always the opposite side of the bid and ask, so those spread changes won't stop me out
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profiting on actionable patterns
  • #2,368
  • Mar 12, 2024 7:48am Mar 12, 2024 7:48am
Quoting Inthebox
{quote} uj update {image}
uj buy result
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,369
  • Mar 12, 2024 7:52am Mar 12, 2024 7:52am
Quoting poap
GJ not directly affected by the news, and I've set my platform to trade always the opposite side of the bid and ask, so those spread changes won't stop me out {image}
Mate, you are doing gr8

Do not forget to jot down your thought process, and every single step in detail with a screenshot, don't even miss a needle. These will be your savior for the rainy days.

Nice work.
Success = Practice + Patience + Persistence
  • #2,370
  • Mar 12, 2024 8:01am Mar 12, 2024 8:01am
Quoting Inthebox
{quote} uj buy result {image}
Ahem ahem!! that many open positions before the news, you must have a heart of steel.

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Success = Practice + Patience + Persistence
  • #2,371
  • Mar 12, 2024 8:06am Mar 12, 2024 8:06am
Quoting fxpider
{quote} Ahem ahem!! that many open positions before the news, you must have a heart of steel. {image}
i have to abide by "not going down there" before i take my profit
https://www.forexfactory.com/thread/...4#post14790624
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,372
  • Mar 12, 2024 9:26am Mar 12, 2024 9:26am
Quoting fxpider
{quote} Mate, you are doing gr8 Do not forget to jot down your thought process, and every single step in detail with a screenshot, don't even miss a needle. These will be your savior for the rainy days. Nice work.
Thanks, I'm doing my best to survive in this market

so I have this situation:
30m bueg within 4h bueg,
I see my 5m formed an engulf.
will that be a valid entry or should I also wait for 30m bueg before going to the 5m chart - and just a reminder we are currently touching 30m bueg

this one abit puzzles me
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  • #2,373
  • Mar 12, 2024 11:00am Mar 12, 2024 11:00am
in accordance to my last reply - same in SPX,
all explanations on the chart from left to right.
this time I've found BUEF on the 30m which I took 5m aligned BEEG without 30m BEEG confirmation
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  • #2,374
  • Mar 12, 2024 11:19am Mar 12, 2024 11:19am
Quoting poap
{quote} Thanks, I'm doing my best to survive in this market so I have this situation: 30m bueg within 4h bueg, I see my 5m formed an engulf. will that be a valid entry or should I also wait for 30m bueg before going to the 5m chart - and just a reminder we are currently touching 30m bueg this one abit puzzles me {image}
you can do both as the confirmation is based on m5 current market price within m30.
price now is ranging as new york lunch time approaching.
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,375
  • Mar 12, 2024 11:27am Mar 12, 2024 11:27am
This thread is really great.
Since the beginning of the year I have found the EG/EF method and I really like it but it's hard to find any information. Most of the courses I have found that use this method are all Malaysian making it very hard to understand.
Then last week I was very surprised to come across this thread. I am on page 45, reading every page to absorb as much as possible.
Keep up the great work in this thread
The only thing better than a crawfish dinner...is 2 crawfish dinners
  • #2,376
  • Edited 12:04pm Mar 12, 2024 11:53am | Edited 12:04pm
Quoting Inthebox
{quote} you can do both as the confirmation is based on m5 current market price within m30. price now is ranging as new york lunch time approaching.
thanks for that, seems logic anyway as I still use 4h as my direction

regrading newyork lunch, we have some major news in like 10 minutes they'll have to finish their break quick

EDIT:
I have no idea why FF state "10-y Bond Auction" to be major,
maybe because of potential movement
profiting on actionable patterns
  • #2,377
  • Mar 12, 2024 9:14pm Mar 12, 2024 9:14pm
Quoting poap
{quote} Thanks, I'm doing my best to survive in this market so I have this situation: 30m bueg within 4h bueg, I see my 5m formed an engulf. will that be a valid entry or should I also wait for 30m bueg before going to the 5m chart - and just a reminder we are currently touching 30m bueg this one abit puzzles me {image}
Hindsight to foresight:

Although the zone was valid, the 5m entry would have been against the move without any confirmation from 30m. I find it safer, to wait for the middle TF to react (turn) in the zone first and then refine the entry using LTF. At least two of the 3 TFs should be moving away from the zone.

Surely, there are times when the price just touches the zone and goes without me, but I still prefer to be the 2nd mouse.
Success = Practice + Patience + Persistence
  • #2,378
  • Mar 13, 2024 1:58am Mar 13, 2024 1:58am
Quoting Inthebox
waiting for your confirmation entry in lower time frames. {image}
uj buy result
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,379
  • Mar 13, 2024 2:21am Mar 13, 2024 2:21am
Quoting fxpider
{quote} Hindsight to foresight: Although the zone was valid, the 5m entry would have been against the move without any confirmation from 30m. I find it safer, to wait for the middle TF to react (turn) in the zone first and then refine the entry using LTF. At least two of the 3 TFs should be moving away from the zone. Surely, there are times when the price just touches the zone and goes without me, but I still prefer to be the 2nd mouse.
Yeah, I've figured that the answer is probably comes down to how aggressive you are in your entries.
I Just wanted the "MTF Engulf Council" here for approaches as I'm developing through other experience and my own experience
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  • #2,380
  • Edited 4:38am Mar 13, 2024 4:03am | Edited 4:38am
GJ doesn't give entries, although clean distance between levels

EDIT: and right when I took the screen shot I see 4h BUEG formed so I don't see anything on GJ now
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