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MTF Engulf / Engulf fail

  • #5,201
  • Nov 18, 2024 1:38am Nov 18, 2024 1:38am
Quoting fxpider
{quote} I did not take the trade, so messy for me. Did you?
no. focus now is on gold and us indices.
ITB - Seeing Orderliness amongst 'Randomness'
  • #5,202
  • Nov 18, 2024 2:04am Nov 18, 2024 2:04am
Quoting Inthebox
gold {image}
gold europe session done.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,203
  • Nov 18, 2024 4:30am Nov 18, 2024 4:30am
Quoting witowito
{quote} "Bigger picture view... plenty of scalps opportunities here and there along the way, of course." {image}
Before&after
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Completed
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  • #5,204
  • Nov 18, 2024 5:20am Nov 18, 2024 5:20am
Quoting Inthebox
{quote} gold europe session done. {image}
gold further long trades.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,205
  • Nov 18, 2024 5:36am Nov 18, 2024 5:36am
snp sell
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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,206
  • Edited 8:30am Nov 18, 2024 7:30am | Edited 8:30am
snp.
update.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,207
  • Nov 18, 2024 7:40pm Nov 18, 2024 7:40pm
GOLD: SnR


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Success = Practice + Patience + Persistence
  • #5,208
  • Edited 8:27pm Nov 18, 2024 8:16pm | Edited 8:27pm
It is about time to get reminded of this method.
Here is a review and summary of the MTF Engulf / Engulf Fail method of this thread.
Everything begins in HTF EG/ EF. Or else the LTF EG/EF must be supported by HTF EG/EF.
Many retail traders like to stay in lower time frames. Do not forget to check whether support comes from higher time frames.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,209
  • Nov 18, 2024 8:36pm Nov 18, 2024 8:36pm
i am not interested in selling.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,210
  • Nov 18, 2024 9:03pm Nov 18, 2024 9:03pm
Quoting Inthebox
i am not interested in selling. {image}
There have been four consecutive upside pushes without any news. A correction (or DUMP!) might be coming.

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Success = Practice + Patience + Persistence
  • #5,211
  • Edited 9:41pm Nov 18, 2024 9:28pm | Edited 9:41pm
Quoting fxpider
{quote} There have been four consecutive upside pushes without any news. A correction (or DUMP!) might be coming. {image}
correction starts from ltf. we will know from the m15/m5 eg ef sell set up.
how far will it drop?
the main support comes from the consolidated zone at the bottom.
if the m15 eg ef buy is able to reject the drop before reaching the support, then it would be a weak correction.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,212
  • Nov 18, 2024 10:53pm Nov 18, 2024 10:53pm
Just remind that USD Daily closed like pullback coming so favor other currency and gold maybe.
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PA Return Today: na
  • #5,213
  • Nov 18, 2024 11:07pm Nov 18, 2024 11:07pm
HTF view (4me...)

D1 level I think price is targeting.
In the case that price get there, there are many confluences to look for reversal (end of bulls pullback and continuation of the drop in HTF view)
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H4 , there is also a big invalance (big red candle to cover from 11th Nov)

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So for me any pullback is a buy until that area, then once price is there, I will switch BIAS
  • #5,214
  • Nov 18, 2024 11:13pm Nov 18, 2024 11:13pm
missed dow sell. maybe retest.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #5,215
  • Nov 18, 2024 11:49pm Nov 18, 2024 11:49pm
Quoting witowito
HTF view (4me...) D1 level I think price is targeting. In the case that price get there, there are many confluences to look for reversal (end of bulls pullback and continuation of the drop in HTF view) {image} H4 , there is also a big invalance (big red candle to cover from 11th Nov) {image} So for me any pullback is a buy until that area, then once price is there, I will switch BIAS
2 zones 4me to look at and see how price action react there to jump in with longs

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  • #5,216
  • Nov 18, 2024 11:59pm Nov 18, 2024 11:59pm
going out. back around 10am ny time.
ITB - Seeing Orderliness amongst 'Randomness'
  • #5,217
  • Nov 19, 2024 12:26am Nov 19, 2024 12:26am
GJ: It was a perfectly executed trade for 1:3R @ London open. I wish every day were like this. You only need to work 15 minutes.

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Success = Practice + Patience + Persistence
  • #5,218
  • Nov 19, 2024 1:13am Nov 19, 2024 1:13am
Quoting Inthebox
{quote} correction starts from ltf. we will know from the m15/m5 eg ef sell set up. how far will it drop? the main support comes from the consolidated zone at the bottom. if the m15 eg ef buy is able to reject the drop before reaching the support, then it would be a weak correction. {image}
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m15 ef/eg support held. Thx for all your detailed explanations!
  • #5,219
  • Nov 19, 2024 1:32am Nov 19, 2024 1:32am
the market is in risk aversion mode. Be aware of shorting GOLD, JPY, and USD.
Success = Practice + Patience + Persistence
  • #5,220
  • Nov 19, 2024 6:43am Nov 19, 2024 6:43am
Quoting Inthebox
missed dow sell. maybe retest. {image} {image}
just came back.
dow sell
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ITB - Seeing Orderliness amongst 'Randomness'
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