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MTF Engulf / Engulf fail

  • #4,021
  • Jul 26, 2024 4:25am Jul 26, 2024 4:25am
Quoting fxpider
Either up or down, at least move, please.
so far did not close below support.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #4,022
  • Jul 26, 2024 4:55am Jul 26, 2024 4:55am
[quote=witowito;14944223....... Can anyone share where they set their stop losses and the losses they took? I'm curious about how you manage to cut losses. Trade Additions: At what point do you stop adding to your trades and cut them? Would love to hear your strategies on scaling in and out. Drawdown: What's the max drawdown you've experienced during these trades?.........[/quote]

My risk is capped at 1.5 % and most of the time I split it into multiple positions for cost averaging. My loss management is as follows

  1. SL gets hit
  2. FOLD: if the PA is not convincing OR a CLOSE beyond the HTF ZONE
  3. FOLD and SWITCH: Must be backed up by the HTF ZONE and LTF PA. IT can bite you back very hard if not executed properly.

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Success = Practice + Patience + Persistence
  • #4,023
  • Jul 26, 2024 5:18am Jul 26, 2024 5:18am
Fair enough... Thank you, everyone.
What I wanted to highlight is that losing is a natural part of trading , and managing losses effectively is crucial. Posting pictures with arrows and lines indicating where entries were made and where losses were cut would be very helpful. In fact, such examples might be even more valuable than showcasing winners.

Thank you again, I really appreciate it.
  • #4,024
  • Edited 5:53am Jul 26, 2024 5:40am | Edited 5:53am
Here is my analysis:
Weekly Outlook:
We are heading towards the 2188-2146 block, or potentially the area around 2080-2030.
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Daily Perspective:
The daily chart is clearly showing a major fake-out, likely designed to run the highs and catch longs, setting the stage for a significant drop. Notice how, during this 4-month range period, the price has been grinding upwards before these massive drops occur.
Daily Map:
This is my map for the daily chart today and the coming days.

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H4 Analysis:
On the H4 chart, there are very suspiciously clean lows that look likely to provide hints about where the price is heading, indicating an overload of stops resting below.
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  • #4,025
  • Jul 26, 2024 5:42am Jul 26, 2024 5:42am
hope there is a break out before the news. and not like that.
Inserted Video
ITB - Seeing Orderliness amongst 'Randomness'
  • #4,026
  • Jul 26, 2024 5:55am Jul 26, 2024 5:55am
Quoting Inthebox
hope there is a break out before the news. and not like that. https://www.youtube.com/shorts/zpJ3f-MMpbA
Was it Mr. Biden in the parachute?
Success = Practice + Patience + Persistence
  • #4,027
  • Jul 26, 2024 6:01am Jul 26, 2024 6:01am
tp some, balance on BE in case the news shoot them up.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #4,028
  • Jul 26, 2024 6:04am Jul 26, 2024 6:04am
Quoting fxpider
{quote} Was it Mr. Biden in the parachute?
hope he can remember the location on where he dropped off.
ITB - Seeing Orderliness amongst 'Randomness'
  • #4,029
  • Jul 26, 2024 6:12am Jul 26, 2024 6:12am
Quoting Inthebox
{quote} hope he can remember the location on where he dropped off.
Lol, poor HIM!

However, the mockery bit me back. I had to use the parachute in this instance. The PA was not convincing to me and decided to keep a clean slate before the NY Session. Disappointing end to the LONDON build-up.

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Success = Practice + Patience + Persistence
  • #4,030
  • Jul 26, 2024 6:50am Jul 26, 2024 6:50am
so far, the h1 candle bodies are moving up above the fvg.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #4,031
  • Jul 26, 2024 7:11am Jul 26, 2024 7:11am
Quoting fxpider
{quote} Lol, poor HIM! However, the mockery bit me back. I had to use the parachute in this instance. The PA was not convincing to me and decided to keep a clean slate before the NY Session. Disappointing end to the LONDON build-up. {image}
Ur exit almost my entry

Now took out 1/3 to cover SL and wait for news to see if wants to finish the H4 journey around 2388
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  • #4,032
  • Jul 26, 2024 7:49am Jul 26, 2024 7:49am
after news, there is 1m and 5m BB.
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PA Return This Week: na
  • #4,033
  • Jul 26, 2024 8:20am Jul 26, 2024 8:20am
Quoting Inthebox
tp some, balance on BE in case the news shoot them up. {image}
gold long continuation.
asia high hit. balance one more trade BE.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #4,034
  • Jul 26, 2024 8:46am Jul 26, 2024 8:46am
Quoting LeongPuiy
after news, there is 1m and 5m BB. {image}
done.
no more trade.
hit ytd midnight high.
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PA Return This Week: na
  • #4,035
  • Jul 26, 2024 9:13am Jul 26, 2024 9:13am
Quoting Inthebox
{quote} gold long continuation. asia high hit. balance one more trade BE. {image}
gold. i have enough of today.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #4,036
  • Jul 26, 2024 1:06pm Jul 26, 2024 1:06pm
GOLD H4
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  • #4,037
  • Jul 26, 2024 1:13pm Jul 26, 2024 1:13pm
1HR INSIDE 4hr (BB +FVG) IS EG TO EG in an eg fail.

IFG, thanks for all you do for us, i relate the eg/eg fail with bb+fvg (unicorn model). i see a bit of orderliness in randomness. Still learning though.
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  • #4,038
  • Jul 26, 2024 5:22pm Jul 26, 2024 5:22pm
conquer them: impatience, impulsive, fear and greed.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #4,039
  • Jul 27, 2024 10:17pm Jul 27, 2024 10:17pm
All the unicorn from this past week in my preferred pair GU, preferred 30 min timeframe and my preferred NYSE open time. If I can further filter these setups using higher timeframe then maybe my win rate can go up.
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Just by itself, winrate is 50%, but with multitimeframe winrate is 90%
  • #4,040
  • Jul 27, 2024 11:58pm Jul 27, 2024 11:58pm
now on a short holiday to neighouring country in the north.
ITB - Seeing Orderliness amongst 'Randomness'
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