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MTF Engulf / Engulf fail

  • #2,421
  • Edited 4:16pm Mar 15, 2024 8:55am | Edited 4:16pm
we all grow as traders and I love it that we can help each other.


I have a question regrading SL approach with far EG+EF,
I've attach a chart of situation where both beef and bueg are very close, and the obvious location for the SL would be below the bueg pattern.

How should I approach this situation where I want to go long after breaking the BEEF, should I set SL below the BEEF or far below BUEG that broke the BEEF

EDIT: in diagram posted, correcting mistake: px reaches only entry 1
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profiting on actionable patterns
  • #2,422
  • Mar 15, 2024 11:26am Mar 15, 2024 11:26am
Quoting poap
we all grow as traders and I love it that we can help each other. I have a question regrading SL approach with far EG+EF, I've attach a chart of situation where both beef and bueg are very close, and the obvious location for the SL would be below the bueg pattern. How should I approach this situation where I want to go long after breaking the BEEF, should I set SL below the BEEF or far below BUEG that broke the BEEF {image} {image}
SL would depend on how risk averse are you.
if i do not mind taking higher risk i can put far away.
for normal SL would be placed away from the fractal outside the boxes that creates the set up.
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,423
  • Mar 15, 2024 11:38pm Mar 15, 2024 11:38pm
Quoting Inthebox
expecting usd index strength {image}
usd index had a positive day and still has room to move up.
those in line with it.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,424
  • Mar 16, 2024 4:35pm Mar 16, 2024 4:35pm
Quoting Inthebox
{quote} usd index had a positive day and still has room to move up. those in line with it. {image} {image}
I Think i have same idea about it too
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  • #2,425
  • Mar 16, 2024 7:45pm Mar 16, 2024 7:45pm
Quoting poap
we all grow as traders and I love it that we can help each other. I have a question regrading SL approach with far EG+EF, I've attach a chart of situation where both beef and bueg are very close, and the obvious location for the SL would be below the bueg pattern. How should I approach this situation where I want to go long after breaking the BEEF, should I set SL below the BEEF or far below BUEG that broke the BEEF EDIT: in diagram posted, correcting mistake: px reaches only entry 1 {image} {image}
SL is a good tool if only if u really know how to use , or else u will definitely deal with endless losing streak
  • #2,426
  • Mar 18, 2024 2:28am Mar 18, 2024 2:28am
good morning and good week everyone
found this when opened XAUUSD chart EG+EF and pullback on 30m within 4h BUEG
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profiting on actionable patterns
  • #2,427
  • Mar 18, 2024 4:34am Mar 18, 2024 4:34am
took an L on US500 today, appreciate any insights to this trade
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  • #2,428
  • Mar 18, 2024 6:31am Mar 18, 2024 6:31am
Quoting direction
took an L on US500 today, appreciate any insights to this trade {image} {image} {image}
Please provide more details what you saw on 4h, 1h and 15m
so we could have insights on your thought process
profiting on actionable patterns
  • #2,429
  • Mar 18, 2024 6:51am Mar 18, 2024 6:51am
Quoting poap
{quote} Please provide more details what you saw on 4h, 1h and 15m so we could have insights on your thought process
London session, saw it come to H4 EF and then it created H1 EG, looked for confirmation on M15 to take the sell
  • #2,430
  • Mar 18, 2024 8:16am Mar 18, 2024 8:16am
Quoting Inthebox
{quote} usd index had a positive day and still has room to move up. those in line with it. {image} {image}
for most of today usd index is negative.
will see what happens during new york session.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,431
  • Mar 18, 2024 8:22am Mar 18, 2024 8:22am
Quoting direction
{quote} London session, saw it come to H4 EF and then it created H1 EG, looked for confirmation on M15 to take the sell
the d1 chart is already showing which direction to take.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,432
  • Mar 18, 2024 9:05am Mar 18, 2024 9:05am
Quoting Inthebox
{quote} the d1 chart is already showing which direction to take. {image} {image}
how about gold bro?
PA Return Today: 4.3%
  • #2,433
  • Mar 18, 2024 9:35am Mar 18, 2024 9:35am
Quoting LeongPuiy
{quote} how about gold bro?
My view on gold, I won't trade though. My session is over for today.

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Success = Practice + Patience + Persistence
  • #2,434
  • Mar 18, 2024 9:58am Mar 18, 2024 9:58am
Quoting LeongPuiy
{quote} how about gold bro?
dxy up gold down
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,435
  • Mar 18, 2024 10:00am Mar 18, 2024 10:00am
Does anyone know when the BOJ rate decision will be out? Will it be in the current US session or the following ASIA session?
Success = Practice + Patience + Persistence
  • #2,436
  • Mar 18, 2024 10:21am Mar 18, 2024 10:21am
Quoting fxpider
Does anyone know when the BOJ rate decision will be out? Will it be in the current US session or the following ASIA session?
During the Asia session @ 3:00 am UK
https://www.fxstreet.com/economic-ca...5-acaf0dc44ce0

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It never gets easier, you just get better
  • #2,437
  • Mar 18, 2024 4:14pm Mar 18, 2024 4:14pm
so here is the situation for 4h/30m traders on SPX
on the right screen I see large engulfing area which I assume tradable, just too large
on the left screen is the next engulfing area found from CMP.
is there a solution for this large candles that creates a very large zone on the smallest direction timeframe?
beside not trading such zones,
how can i mechanically cut through this zone
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profiting on actionable patterns
  • #2,438
  • Mar 18, 2024 7:12pm Mar 18, 2024 7:12pm
Quoting Shabs19
{quote} During the Asia session @ 3:00 am UK https://www.fxstreet.com/economic-ca...5-acaf0dc44ce0 {image}

Thank you.
Success = Practice + Patience + Persistence
  • #2,439
  • Mar 18, 2024 11:40pm Mar 18, 2024 11:40pm
Quoting poap
so here is the situation for 4h/30m traders on SPX on the right screen I see large engulfing area which I assume tradable, just too large on the left screen is the next engulfing area found from CMP. is there a solution for this large candles that creates a very large zone on the smallest direction timeframe? beside not trading such zones, how can i mechanically cut through this zone {image}
the only mechanical way is not to force trade and having the discipline to follow the rules.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,440
  • Mar 19, 2024 1:00am Mar 19, 2024 1:00am
Quoting Inthebox
{quote} for most of today usd index is negative. will see what happens during new york session. {image}
the usd index turned positive during new york session and it is now approaching the w1 bearish engulf.
however yesterday gold the us indices went positive, while the currencies were in line.
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ITB - Seeing Orderliness amongst 'Randomness'
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