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MTF Engulf / Engulf fail

  • #3,061
  • May 28, 2024 10:26pm May 28, 2024 10:26pm
Quoting fxpider
{quote} yes & no. yes: when PA works out perfectly No: when PA creates doubt and chucks into confusion.
present your htf for discussion.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,062
  • May 28, 2024 11:01pm May 28, 2024 11:01pm
Quoting Inthebox
{quote} present your htf for discussion.
Lets discuss the CMP of gold for this week

W1 BUEG ---> bullish based on the most recent EG

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d1 : The closest EF from the last week is just above the CMP
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4H: cmp@ BEEG from last week, however, yesterday the PA gave us a BUEG off the W1 BUEG and previous 4H BUEG.

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NOW, what should be the BIAS for today? As, the cmp sitting @ a 4h BEEG from last week and the price just came off the w1 BUEG zone creating a 4H BUEG.

Success = Practice + Patience + Persistence
  • #3,063
  • May 28, 2024 11:13pm May 28, 2024 11:13pm
Quoting fxpider
{quote} As, the cmp sitting @ a 4h BEEG from last week and the price just came off the w1 BUEG zone creating a 4H BUEG.
we are are now at h4 roadblock, but bouncing up from h4/h1.
up bias because expectation move is from d1 eg to eg.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,064
  • May 28, 2024 11:17pm May 28, 2024 11:17pm
Quoting Inthebox
{quote} present your htf for discussion.
anyone else want to send in other pairs htf discussion?
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,065
  • May 28, 2024 11:52pm May 28, 2024 11:52pm
Quoting Inthebox
{quote} anyone else want to send in other pairs htf discussion?
I will try GU.
Weekly
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Daily
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4hr
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Just by itself, winrate is 50%, but with multitimeframe winrate is 90%
  • #3,066
  • May 28, 2024 11:52pm May 28, 2024 11:52pm
looking for the 4H fvg /1 fvg if it can reach at FF and LO session.
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PA Return This Week: 37.9%
  • #3,067
  • May 29, 2024 12:18am May 29, 2024 12:18am
Quoting melord
{quote} I will try GU. Weekly {image} Daily {image} 4hr {image}
d1 eg conflict.
i see bouncing between the two h4 eg.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,068
  • May 29, 2024 12:35am May 29, 2024 12:35am
those trading US indices, i think they are falling.
you can post for htf discussion.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,069
  • May 29, 2024 12:41am May 29, 2024 12:41am
Quoting Inthebox
those trading US indices, i think they are falling. you can post for htf discussion.

its a correction at the moment due to the geopolitical situation ... can be volatile intraday.

market sentiments still bullish in the mid-term until near the elections.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,070
  • May 29, 2024 12:47am May 29, 2024 12:47am
Quoting emmanuel7788
{quote} its a correction at the moment due to the geopolitical situation ... can be volatile intraday. market sentiments still bullish in the mid-term until near the elections.
over 300 pips for the picking.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,071
  • May 29, 2024 1:15am May 29, 2024 1:15am
@ITB

AU: please walk me through your thought process for the BIAS decision.

W1: BUEG

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D1: can't find any EG/EF close to cmp

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H4: The most recent BEEG

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Success = Practice + Patience + Persistence
  • #3,072
  • May 29, 2024 1:52am May 29, 2024 1:52am
Quoting fxpider
@ITB AU: please walk me through your thought process for the BIAS decision. W1: BUEG {image} D1: can't find any EG/EF close to cmp {image} H4: The most recent BEEG {image}
There is EG on AU daily close to the market price, an EG sell
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  • #3,073
  • May 29, 2024 2:03am May 29, 2024 2:03am
Quoting fxpider
@ITB AU: please walk me through your thought process for the BIAS decision. W1: BUEG {image} D1: can't find any EG/EF close to cmp {image} H4: The most recent BEEG {image}
my view as if waiting for things to happen.
w1 qml
d1 triangle
h4 eg to eg ranging.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,074
  • May 29, 2024 2:21am May 29, 2024 2:21am
Quoting Judecharly
{quote} There is EG on AU daily close to the market price, an EG sell {image}
Thank you, but technically, that's not an engulf. If you look carefully, there is a gap between the green candle's CLOSE and the following red candle's OPEN. However, it is acceptable in this instance as I am already SHORT on AU.
Success = Practice + Patience + Persistence
  • #3,075
  • May 29, 2024 2:25am May 29, 2024 2:25am
Quoting Inthebox
{quote} my view as if waiting for things to happen. w1 qml d1 triangle h4 eg to eg ranging. {image} {image}
Thank you for reminding the QML. I guess, I am going to load more SHORT.
Success = Practice + Patience + Persistence
  • #3,076
  • May 29, 2024 2:54am May 29, 2024 2:54am
Is anyone looking to long GOLD at this levels? it seems turning point at this stop run...

Waiting for m15 close to see how it looks
  • #3,077
  • May 29, 2024 3:08am May 29, 2024 3:08am
Quoting witowito
Is anyone looking to long GOLD at this levels? it seems turning point at this stop run... Waiting for m15 close to see how it looks
no. i am waiting for a m5 or m15 eg break and then waiting for a m1 ef break.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,078
  • May 29, 2024 3:09am May 29, 2024 3:09am
Quoting witowito
Is anyone looking to long GOLD at this levels? it seems turning point at this stop run... Waiting for m15 close to see how it looks
even though, CMP is at h4 BUEG, the LTF price action is still very bearish. I will wait to see some signs of strength.
Success = Practice + Patience + Persistence
  • #3,079
  • Edited 3:27am May 29, 2024 3:14am | Edited 3:27am
Quoting Inthebox
{quote} no. i am waiting for a m5 or m15 eg break and then waiting for a m1 ef break.
Okay that's the more safeties way to entry from your observation when price is in key points?

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somehow something like this( if happens in this levels and not in the next one 2345 zone after 12:30 server time)

then going down to m1 and wait for something similar aswell??
  • #3,080
  • May 29, 2024 3:24am May 29, 2024 3:24am
Quoting fxpider
{quote} even though, CMP is at h4 BUEG, the LTF price action is still very bearish. I will wait to see some signs of strength.


Yes you are totally right, The way I was trying to long it is somehow trying to catch the bottom of the pullback for a long leg up, so its much better to proceed as you saying, wait for turning indications then jump in at LTF in a retest/pullback of some engulf candle.
This is a bad routine from my old approach at trading.
Always need to remember my self, its better to catch 20% of the move 80% of the time than catching 80% of the move 20% of the time... for mind health
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