MTF Engulf / Engulf fail

your d1 engulf is not correct.
while you have 2 opposite engulf fighting over the zone.
that is why you see all the consolidations happening now.

There's no point in making predictions. See how the price behaves and trade accordingly. Let's wait for NYO and if this isn't enough the minutes of FOMC and if that's not enough... see you tomorrow

strange graph h4

AU: 1H (BUEG) + 5m (BUEG + BEEF) combo. TP @ 1R. Today's PA sucks big time.

pullback to asia premium range done.
now wait for new york open to match the drop.
traders got slaughtered during today's european session consolidation.

it is in h4 candles differ from brokers to brokers because they have different servers starting time.
other time frames more or less appear the same.

OMG!!
Pep Guardiola's drawing board.

behind his drawing board.

GOLD: The GPS signal has been lost for the last 6 hours. PA is extremely choppy. One should decide between gambling and staying aside.

Yellow boxes are EF.

Are you sure that you are marking them properly? The yellow boxes look EG to me.

dol touch down.
entering a d1 and h4 fvg.

liquidity sweep of dol.

Sorry I am working and in hurry I forgot to mention TF. It is M15 time frame and EF. Break of these levels being price more down.

Funny gap there to confuse closing/open of new H4 candle

guys, i had marked the support and resistant early in the asia session.
just choose the best level to trade, do not trade all over the shop, but just one trade.
https://www.forexfactory.com/thread/...9#post14875179
when you sit down at the PC, where is the market price?
where is the nearest h4 engulf?
did price pullback to h4 engulf?
switch to lower time frame to construct engulf (m30 or h1).
do the same thing. did price pullback to m30 engulf?
switch to entry time frame to construct engulf (m5 or m15).

you have to do it step by step through the time frames.
not from h4 straight away down to m15 for entry.
if you are not following the rules, then look at london session, most traders will lose out.

yes. you waited the whole day when price pullback to h4 which was 6am new york time and wait again for the new york open.
that is trading, and waiting for set up is the name of the game, its purpose is for a less risk trade.

if you are not sure when to TP, then TP for 25 -30 pips each time because you are still learning.
the goal is to be consistent in getting 25-30 pips.
when you are consistent enough, only then you consider getting 40-60 pips.

you do not know what to make out of the d1 chart in the beginning.
only at the end of it all, you see the downward move to dol to take liquidity.

so now we know why it consolidated for so long during european session.
some traders suffering now for over trading.

An there we gooooo

Breakout of EF M15 zone to another. Trade hit profit. This trade not only gave good profit but also recovered loss from last trade.

look at this.
how would you do the mtf engulf?
would you be going for consistency trade?