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MTF Engulf / Engulf fail

  • #3,401
  • Jun 20, 2024 9:54am Jun 20, 2024 9:54am
Quoting Inthebox
{quote} you did not follow post 1 rule 2. price did not test the engulf fail and close outside it. {image} {image}
is this correct? price creates H4 EG sell, wait for it to pull back into H4 EG sell, create M30 EG sell, wait for it to pullback to create M15 EG sell and enter on the M15 EG sell?
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  • #3,402
  • Jun 20, 2024 10:10am Jun 20, 2024 10:10am
Quoting direction
{quote} is this correct? price creates H4 EG sell, wait for it to pull back into H4 EG sell, create M30 EG sell, wait for it to pullback to create M15 EG sell and enter on the M15 EG sell? {image}
yes when m15 eg sell is tested. this is conservative.
when price closed below m15 eg sell but no retest, this is aggressive.
aggressive is for fast moving price like during news where frequently there is no retest.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,403
  • Jun 20, 2024 10:35am Jun 20, 2024 10:35am
Quoting witowito
{quote} I was busy at hme lately so no much time for FF. Do u remember last run TP of H4 ? kind of similar this time the H4 there, 2333 - 2335 level for bulls to rech https://www.forexfactory.com/thread/...0#post14897170 {image} Playing & drawing & forecasting {image}
Before
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And after
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My time here is over , wish u all good luck and success

  • #3,404
  • Jun 20, 2024 10:53am Jun 20, 2024 10:53am
Quoting Inthebox
{quote} yes when m15 eg sell is tested. this is conservative. when price closed below m15 eg sell but no retest, this is aggressive. aggressive is for fast moving price like during news where frequently there is no retest. {image}
thanks i understand now.

i got stopped out of EU earlier
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  • #3,405
  • Jun 20, 2024 11:39am Jun 20, 2024 11:39am
Quoting direction
{quote} thanks i understand now. i got stopped out of EU earlier {image} {image} {image}
we look at the whole context.
d1 is on retracement to premium of the impluse wave down. maybe going for the 14june low.
there is another level of h4 eg buy nearby lower, which may be the intention.
hitting a m30 roadblock.
refining to m5 could get some profit.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,406
  • Jun 20, 2024 1:02pm Jun 20, 2024 1:02pm
Quoting poap
seems like we all onto this directional buy {image}
I'm out of gold,
not going to keep push it up as we are in D1 level, gonna wait for price to show me the way there.. no need to second guess that
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profiting on actionable patterns
  • #3,407
  • Jun 20, 2024 6:12pm Jun 20, 2024 6:12pm
Quoting Inthebox
gold. probably a h4 eg to eg move. {image} {image}
Hi ITB
would you ignore the H4 EF roadblock marked below, or consider a short opportunity off it if the LTF formed/retested EG sell?
https://www.tradingview.com/x/pCTHFpfw/

Thanks
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  • #3,408
  • Jun 20, 2024 6:46pm Jun 20, 2024 6:46pm
Quoting Huber
{quote} Hi ITB would you ignore the H4 EF roadblock marked below, or consider a short opportunity off it if the LTF formed/retested EG sell? https://www.tradingview.com/x/pCTHFpfw/ Thanks {image}
from what i see from the h4 eg to eg move, if my target is the upper h4 eg sell, then ef roadblock is to be monitored for m30 sell retest.
then the down move will be until the h4 eg buy.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,409
  • Jun 20, 2024 7:04pm Jun 20, 2024 7:04pm
going out now. Be back around new york session.
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,410
  • Jun 20, 2024 8:23pm Jun 20, 2024 8:23pm
Quoting direction
{quote} is this correct? price creates H4 EG sell, wait for it to pull back into H4 EG sell, create M30 EG sell, wait for it to pullback to create M15 EG sell and enter on the M15 EG sell? {image}
According to the trade rules, I believe it is also possible to simply enter upon retest of the m30 EG sell and not worry about a subsequent m15 EG to form/retest if we are happy with the size of the SL.
  • #3,411
  • Jun 21, 2024 10:05pm Jun 21, 2024 10:05pm
gold yesterday was a drop from d1 eg to eg, also a qml.
a 520 pips range drop. either you laugh or cry your way to the bank.
next probably gravitating to 17 18 june low.
however after such a big drop, will expect retracement coming early week.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,412
  • Jun 22, 2024 12:08am Jun 22, 2024 12:08am
anyone read this? Looks interesting.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,413
  • Jun 22, 2024 2:23am Jun 22, 2024 2:23am
Quoting Inthebox
anyone read this? Looks interesting. {image}
Yes, nice book, main Price Action from A to Z, many good strategies and patern to deal with, history of growing accounts, best part is "what to say to your family"
People don't plan to lose. They lose because they don't plan.
  • #3,414
  • Jun 22, 2024 2:49am Jun 22, 2024 2:49am
Quoting Inthebox
anyone read this? Looks interesting. {image}
why your stop loss got hit.

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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,415
  • Jun 23, 2024 9:03am Jun 23, 2024 9:03am
Quoting Inthebox
anyone read this? Looks interesting. {image}
One of the entry techniques that's been discussed in the book --> EG

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Success = Practice + Patience + Persistence
  • #3,416
  • Jun 23, 2024 9:36am Jun 23, 2024 9:36am
how confident are you to enter a buy just by solely looking at m5?
it was a snrc support and resistant continuation model. or resistant turned support flip from the chart.
will you be more confident if there was a m15 engulfing?
what about with the h1 engulfing?
so do not ever miss out checking the higher time frames.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,417
  • Jun 23, 2024 11:03am Jun 23, 2024 11:03am
Quoting Inthebox
{quote} why your stop loss got hit. {image}
time frames
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,418
  • Jun 23, 2024 1:49pm Jun 23, 2024 1:49pm
Quoting Inthebox
{quote} time frames {image}
even when you trade d1/4h charts and going broad market(15 pairs+) can feel like trading 5m charts as you need to flicker between those

I questioning myself alot regarding any strategy I used
1. Should I use 5-6 pairs max using 1% risk and obviously have less trades
2. Go broad 15+ pairs using 0.3% risk to allow more pairs and to find setup quicker
profiting on actionable patterns
  • #3,419
  • Jun 23, 2024 2:40pm Jun 23, 2024 2:40pm
Quoting Inthebox
how confident are you to enter a buy just by solely looking at m5? it was a snrc support and resistant continuation model. or resistant turned support flip from the chart. will you be more confident if there was a m15 engulfing? what about with the h1 engulfing? so do not ever miss out checking the higher time frames. {image} {image} {image}
I did think Eg or Ef just work in gold
  • #3,420
  • Jun 23, 2024 7:16pm Jun 23, 2024 7:16pm
Quoting majidmas
{quote} I did think Eg or Ef just work in gold
work in any instrument.
ITB - Seeing Orderliness amongst 'Randomness'
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