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MTF Engulf / Engulf fail

  • #2,541
  • Mar 27, 2024 10:30am Mar 27, 2024 10:30am
Quoting Dulof
Confluence H1 and m15. Do you think this is a good short order, or wait for the price to enter the engulf m15 zone? thánks {image}
px already dropping from m15 beef.
only thing is that market may be slowing down.
best time is during new york open and nyse open.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,542
  • Mar 28, 2024 12:35am Mar 28, 2024 12:35am
now we analyze gbpusd and wait for frankfurt london open to short if the opportunity present itself.
w1 below resistant
d1 below previous day high
h1 could be a liquidity sweep at the high
if it is so, just let it be because my time to trade is yet to come.
when the time comes, it may save you from shorting in a hurry.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,543
  • Mar 28, 2024 12:59am Mar 28, 2024 12:59am
now i see things lining up and itchy hand but there's gbp news during frankfurt open.
short with half or one third (or what ever) of the full intended lot size.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,544
  • Mar 28, 2024 1:37am Mar 28, 2024 1:37am
Quoting Inthebox
now i see things lining up and itchy hand but there's gbp news during frankfurt open. short with half or one third (or what ever) of the full intended lot size. {image}
Save your bullets and energy for the US session. There will be lots of fireworks, RED news events, and the end of the week/month/quarter. As, most of the pairs are ranging till now, a BO is awaiting.
Success = Practice + Patience + Persistence
  • #2,545
  • Mar 28, 2024 1:43am Mar 28, 2024 1:43am
Quoting Inthebox
now i see things lining up and itchy hand but there's gbp news during frankfurt open. short with half or one third (or what ever) of the full intended lot size. {image}
gbpusd TP at 50% asia down move for low hanging fruit.
you may want to take partial profit and put to BE.
to each his own.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,546
  • Mar 28, 2024 2:16am Mar 28, 2024 2:16am
so gbpusd out the news.
looking for asia low and previous day low.
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,547
  • Mar 28, 2024 2:35am Mar 28, 2024 2:35am
eu similarly,a nice entry but i missed it
Wait for another chance
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  • #2,548
  • Mar 28, 2024 2:41am Mar 28, 2024 2:41am
Quoting Dulof
eu similarly,a nice entry but i missed it Wait for another chance {image}
eu news
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,549
  • Mar 28, 2024 3:15am Mar 28, 2024 3:15am
Quoting Inthebox
so gbpusd out the news. looking for asia low and previous day low.
Quoting Inthebox
now we analyze gbpusd and wait for frankfurt london open to short if the opportunity present itself. w1 below resistant d1 below previous day high h1 could be a liquidity sweep at the high if it is so, just let it be because my time to trade is yet to come. when the time comes, it may save you from shorting in a hurry. {image} {image}
when news align with the direction bias, what's there to stop you?
it is more straight forward interpretation for european news.
US news i will be very careful as sometimes usd can go along with stock indices, and sometimes the opposite direction.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,550
  • Mar 28, 2024 4:02am Mar 28, 2024 4:02am
there is no one interpretation of single candle engulfing.
each trader has his own preferred ones.
if you are trading intra day, do not miss the d1 engulfing.
my favorite as per chart.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,551
  • Mar 28, 2024 5:39am Mar 28, 2024 5:39am
a reminder to myself.
https://www.forexfactory.com/thread/...4#post14759444
https://www.forexfactory.com/thread/...1#post14811271
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,552
  • Mar 28, 2024 6:42am Mar 28, 2024 6:42am
gold
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,553
  • Mar 28, 2024 6:57am Mar 28, 2024 6:57am
Quoting Inthebox
gold {image}
Technically, I would wait until the candle closes. However, it will be too late as the red news is due in 30 mins.

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Now the dilemma is, will they use the news to dump the UJ, in that case, GOLD is likely to go higher. What is your thought on that?
Success = Practice + Patience + Persistence
  • #2,554
  • Mar 28, 2024 7:02am Mar 28, 2024 7:02am
Quoting fxpider
{quote} Technically, I would wait until the candle closes. However, it will be too late as the red news is due in 30 mins. {image} Now the dilemma is, will they use the news to dump the UJ, in that case, GOLD is likely to go higher. What is your thought on that?
just focus on gold.
react on news only if in line with direction.
there may be another liquidity sweep, i rather not hurry.
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,555
  • Mar 28, 2024 7:31am Mar 28, 2024 7:31am
gold. it's a short.
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,556
  • Mar 28, 2024 7:54am Mar 28, 2024 7:54am
Almost no reaction to the news. let's see, the next series of news in an hour.
Success = Practice + Patience + Persistence
  • #2,557
  • Mar 28, 2024 8:01am Mar 28, 2024 8:01am
Quoting Inthebox
gold. it's a short.
gold loss exit candle closed above eg.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,558
  • Mar 28, 2024 8:06am Mar 28, 2024 8:06am
gold another short
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,559
  • Mar 28, 2024 8:21am Mar 28, 2024 8:21am
Quoting Inthebox
{quote} all secrets to success are out printed in this thread already. most need at least half a year of study and application in order to understand. no short cut available. each according to his own hard work, which most traders put in half heartedly and expect miracle to happen.
true that brother. havent seen a more detailed yet to the point explanation of the engulfing concept. everything is in here. i only meant avoiding distractions. tg is so full of them. ppl always ready to throw every new concept available in the market at us and some of us hopping strategies looking for a grail that doesnt exist. i started trading EG a few months back and there is nothing that has given a better perspective of an intraday market compared to this. thank you for your contribution.
  • #2,560
  • Mar 28, 2024 8:35am Mar 28, 2024 8:35am
Quoting Inthebox
gold another short {image}
gold all exit
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ITB - Seeing Orderliness amongst 'Randomness'
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