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MTF Engulf / Engulf fail

  • #3,441
  • Jun 25, 2024 8:04pm Jun 25, 2024 8:04pm
Quoting Inthebox
gold. will the rest of the day be going up??? {image} {image}
I'd wait how price react on that 1 hour Volume Imbalance (red box) if it become resistance to go lower or support to go higher
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  • #3,442
  • Jun 25, 2024 9:20pm Jun 25, 2024 9:20pm
2 zones to observe.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,443
  • Jun 25, 2024 10:14pm Jun 25, 2024 10:14pm
Quoting Inthebox
2 zones to observe. {image}
Hi ITB - have you marked the upper blue box/zone because it corresponds to the H4 QM (it also coincides with a m15 QM area)?
  • #3,444
  • Jun 25, 2024 10:26pm Jun 25, 2024 10:26pm
Quoting Inthebox
2 zones to observe. {image}
watching LTF.
Success = Practice + Patience + Persistence
  • #3,445
  • Jun 25, 2024 10:41pm Jun 25, 2024 10:41pm
Quoting Huber
{quote} Hi ITB - have you marked the upper blue box/zone because it corresponds to the H4 QM (it also coincides with a m15 QM area)?
it may or may not be the level, there was no retest.
but we are already in blue directional zone and frankfurt opening soon.
just observe the lower time frames which also indicate a eg or ef buy with retest.
https://www.forexfactory.com/thread/...8#post14911998
ITB - Seeing Orderliness amongst 'Randomness'
  • #3,446
  • Jun 25, 2024 10:41pm Jun 25, 2024 10:41pm
Quoting bambank
{quote} I'd wait how price react on that 1 hour Volume Imbalance (red box) if it become resistance to go lower or support to go higher {image}
you can see the precision, when you use Gold Futures chart but you need to pay for monthly sub to get live feed data
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  • #3,447
  • Jun 25, 2024 10:51pm Jun 25, 2024 10:51pm
Quoting bambank
{quote} you can see the precision, when you use Gold Futures chart but you need to pay for monthly sub to get live feed data {image}
that was a m15 qm fail sell set up, just like we have engulf fail set up but more risky to counter trend.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,448
  • Jun 25, 2024 11:11pm Jun 25, 2024 11:11pm
Quoting Inthebox
{quote} that was a m15 qm fail sell set up, just like we have engulf fail set up but more risky to counter trend. {image}
I was referring to how precision the Futures chart is, compare to chart by brokers
  • #3,449
  • Jun 25, 2024 11:23pm Jun 25, 2024 11:23pm
Quoting bambank
{quote} I was referring to how precision the Futures chart is, compare to chart by brokers
yes i know.
just showing the sell set up which frequently can happen to take out buy stops before frankfurt open.
it was all done with a purpose.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,450
  • Jun 25, 2024 11:44pm Jun 25, 2024 11:44pm
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,451
  • Jun 26, 2024 2:34am Jun 26, 2024 2:34am
GBPAUD ->
D1 EG ->
H1 EG within D1 ->
after 5m EF took 2 position, 1 on the candle break, another position on the formed 5m EG and set a limit down near the origin of the move

note: (I took a small loss doing the same on higher EF, just closed manually(no need to wait for SL to hit once support has been broken)
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profiting on actionable patterns
  • #3,452
  • Jun 26, 2024 3:57am Jun 26, 2024 3:57am
SP500 H4 EG map

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  • #3,453
  • Jun 26, 2024 4:14am Jun 26, 2024 4:14am
EURCAD:
I've took aggressive buy on D1 EG using 5m EF,
but an hour later a deeper pullback with formed H1 EG arrived and hit TP
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profiting on actionable patterns
  • #3,454
  • Jun 26, 2024 4:24am Jun 26, 2024 4:24am
Quoting fonline
SP500 H4 EG map {image}
.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,455
  • Jun 26, 2024 4:29am Jun 26, 2024 4:29am
Quoting aahmad29
{quote} Now price is in daily bearish EG zone and now I will wait for M30 to create bearish EG for short position with target of 2305. Please do not follow because I added position and using cost averaging method. {image}
Target achieved. I will wait for breakout of green zone and retesting of green area for another short position.
Daily chart looks very beautiful.
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Love for all; Hatred for none.
  • #3,456
  • Jun 26, 2024 4:46am Jun 26, 2024 4:46am
Quoting Inthebox
{image}
gold. w1 support at work again pre new york open.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,457
  • Jun 26, 2024 5:08am Jun 26, 2024 5:08am
today gold price action was mostly between day low and week low.
if the day low resistant is broken, will price find the next day low resistant???
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,458
  • Jun 26, 2024 6:27am Jun 26, 2024 6:27am
waiting for new york stock exchange open to see whether go up.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #3,459
  • Jun 26, 2024 6:39am Jun 26, 2024 6:39am
XAUUSD. I Like to use EG H4, trying to not go down more than H1, if not you start to see many contradictory information that could freeze your trading desicions.. Make sense to the people here?
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  • #3,460
  • Jun 26, 2024 6:52am Jun 26, 2024 6:52am
Quoting Inthebox
{quote} gold. w1 support at work again pre new york open. {image}
Thanks you very much for this MTF Engulfing concept. You are absolutely right that this method needs patience especially if we are taking trades based on daily TF. For conservative trade I just used weekly and daily TF for trend direction.
Love for all; Hatred for none.
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