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MTF Engulf / Engulf fail

  • #2,401
  • Mar 14, 2024 11:29am Mar 14, 2024 11:29am
Quoting Inthebox
{quote} . {image}
can you explain what exactly do you mean by "applying the m1 ef eg combo - no trigger"?

do you mean I need the combo with the touch in the m30, or something else ?
profiting on actionable patterns
  • #2,402
  • Mar 14, 2024 11:45am Mar 14, 2024 11:45am
Quoting poap
{quote} can you explain what exactly do you mean by "applying the m1 ef eg combo - no trigger"? do you mean I need the combo with the touch in the m30, or something else ?
you made a big jump from h4 to m1 limit trigger buy.
what i am showing is that i use manual with m1 first px break up the ef and pullback to eg and never closed above eg.
with m1 so small a time frame it is risky to use only eg alone, or ef alone.
minimum should combine ef, then a eg.
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,403
  • Mar 14, 2024 12:03pm Mar 14, 2024 12:03pm
Quoting Inthebox
{quote} you made a big jump from h4 to m1 limit trigger buy. what i am showing is that i use manual with m1 first px break up the ef and pullback to eg and never closed above eg. with m1 so small a time frame it is risky to use only eg alone, or ef alone. minimum should combine ef, then a eg.
I'm abit confused,
because price did closed above the EF and formed FVG with EG

am i missing something?
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profiting on actionable patterns
  • #2,404
  • Mar 14, 2024 1:04pm Mar 14, 2024 1:04pm
Quoting poap
{quote} I'm abit confused, because price did closed above the EF and formed FVG with EG am i missing something? {image}
your interpretation is px left both ef and eg at the same time.
px has to leave ef first, then pullback to eg.

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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,405
  • Mar 14, 2024 1:59pm Mar 14, 2024 1:59pm
Quoting Inthebox
{quote} your interpretation is px left both ef and eg at the same time. px has to leave ef first, then pullback to eg. {image}
So that setup have to have also another eg on 1m if I'm using such ltf?
Because usually a retest of the eg in 30m zone would be sufficient for the trade to be valid on 5m timeframe
profiting on actionable patterns
  • #2,406
  • Edited 3:20pm Mar 14, 2024 2:44pm | Edited 3:20pm
Quoting poap
{quote} So that setup have to have also another eg on 1m if I'm using such ltf? Because usually a retest of the eg in 30m zone would be sufficient for the trade to be valid on 5m timeframe
i would say that it is the same logic as using htf directon as filters.
you cannot depend on only one time frame. the more the merrier.

so is engulfing. the more the merrier. especially so in very ltf.
sometimes i even use 3 engulfings.
again no hard and fixed rule that it is only apply to m1.
think flexibility like how water flows, sometimes straight, sometimes bend.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,407
  • Mar 14, 2024 3:51pm Mar 14, 2024 3:51pm
Quoting Inthebox
{quote} i would say that it is the same logic as using htf directon as filters. you cannot depend on only one time frame. the more the merrier. so is engulfing. the more the merrier. especially so in very ltf. sometimes i even use 3 engulfings. again no hard and fixed rule that it is only apply to m1. think flexibility like how water flows, sometimes straight, sometimes bend. {image}
1. 22 engulfs
2. 7 buef + beeg - some work better, but mostly filtered

probably doing every engulf my account would be whipsawed by the EOD
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profiting on actionable patterns
  • #2,408
  • Mar 14, 2024 4:21pm Mar 14, 2024 4:21pm
Quoting poap
{quote} 1. 22 engulfs 2. 7 buef + beeg - some work better, but mostly filtered probably doing every engulf my account would be whipsawed by the EOD {image} {image}
and what happen if you used the ef break, pullback to eg combo?
you get either small profit or BE.
the bad trades mostly filtered out.
now you see what i am trying to put across to you?
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,409
  • Mar 14, 2024 9:56pm Mar 14, 2024 9:56pm
expecting usd index strength
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,410
  • Edited 1:44am Mar 15, 2024 12:17am | Edited 1:44am
Wow! very nice healthy discussion by ITB and Poap.

Edit: Just finished going through the posts. The bottom line is
Although the engulf FAIL sounds very negative, it acts as a very strong confluence for the positive outcome of a trade.
Success = Practice + Patience + Persistence
  • #2,411
  • Mar 15, 2024 1:55am Mar 15, 2024 1:55am
Quoting Inthebox
expecting usd index strength {image}
How do you utilize the currency indexes in your trading?
because from what I see, some usd pairs are in line with the index, but some are still in the opposite position.
(in the picture attached I marked in red those that inline with usdx, and green those that still doesn't inline with usdx)
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profiting on actionable patterns
  • #2,412
  • Mar 15, 2024 2:04am Mar 15, 2024 2:04am
Gold: same same

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Success = Practice + Patience + Persistence
  • #2,413
  • Mar 15, 2024 2:08am Mar 15, 2024 2:08am
Quoting poap
{quote} How do you utilize the currency indexes in your trading? because from what I see, some usd pairs are in line with the index, but some are still in the opposite position. (in the picture attached I marked in red those that inline with usdx, and green those that still doesn't inline with usdx) {image}
it's a general guide. a basket of currencies.
one has to note what is happening.
usd used to move opposite as us stock indices but sometimes moving the same direction.
this is because we do not know the complexities of interpreting news events.
when there is a news in favor of gbp we know usd moves down.
but jpy could still be weak, so you don't see usdjpy going down.
generally pick those in line with the index and monitor when market open.
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,414
  • Mar 15, 2024 2:14am Mar 15, 2024 2:14am
Quoting poap
{quote} How do you utilize the currency indexes in your trading? because from what I see, some usd pairs are in line with the index, but some are still in the opposite position. (in the picture attached I marked in red those that inline with usdx, and green those that still doesn't inline with usdx) {image}
TIPS:

  1. As an overall market trend for USD-related pairs.
  2. You can trade the divergence.

Note: GJ is not directly related to USDx.

Success = Practice + Patience + Persistence
  • #2,415
  • Mar 15, 2024 2:21am Mar 15, 2024 2:21am
Quoting Inthebox
expecting usd index strength {image}
europe open, so expect usd index to go up right?
but usdjpy already moving up. weak jpy.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,416
  • Mar 15, 2024 3:39am Mar 15, 2024 3:39am
Quoting Inthebox
{quote} europe open, so expect usd index to go up right? but usdjpy already moving up. weak jpy. {image} {image} {image}
90 min after europe open, the following are in line with usd index
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,417
  • Mar 15, 2024 5:29am Mar 15, 2024 5:29am
Quoting Inthebox
{quote} and what happen if you used the ef break, pullback to eg combo? you get either small profit or BE. the bad trades mostly filtered out. now you see what i am trying to put across to you? {image}
Hi ITB
Just trying to make sense of earlier discussion with Poap, when you have time, could you possibly explain in further detail, I am trying to make sense of the discussion.

Below I have done my own price obsevation to try and understand what you was trying to convey, and I don't think all my brain cells are firing at the moment.

Thanks
Peter.
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“A setback is a setup for a comeback.”
  • #2,418
  • Edited 6:09am Mar 15, 2024 5:53am | Edited 6:09am
Quoting marshy
{quote} Hi ITB Just trying to make sense of earlier discussion with Poap, when you have time, could you possibly explain in further detail, I am trying to make sense of the discussion. Below I have done my own price obsevation to try and understand what you was trying to convey, and I don't think all my brain cells are firing at the moment. Thanks Peter. {image}

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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,419
  • Mar 15, 2024 8:37am Mar 15, 2024 8:37am
Quoting Inthebox
{quote} {image} {image}
Thanks for the reply, appreciated.

Cheers
Peter.
“A setback is a setup for a comeback.”
  • #2,420
  • Edited 8:53am Mar 15, 2024 8:38am | Edited 8:53am
new york seesion, gold and us indices dropped.
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ITB - Seeing Orderliness amongst 'Randomness'
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