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MTF Engulf / Engulf fail

  • #6,221
  • Jan 12, 2025 6:49pm Jan 12, 2025 6:49pm
Quoting Inthebox
eurjpy h4 eg buy {image}
Hi ITB,

For EJ, wouldn't you want to see 161.777 broken first before buying to confirm HH?
  • #6,222
  • Jan 12, 2025 6:54pm Jan 12, 2025 6:54pm
Quoting ChinoCop
{quote} Hi ITB, For EJ, wouldn't you want to see 161.777 broken first before buying to confirm HH?

i only show w/d/h4 direction set up. i do not show the smaller time frames.
it is up to individual trader to get ready and wait how they want to trade their own TC and CE set up.
that will be my second entry by the way.
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,223
  • Jan 12, 2025 7:01pm Jan 12, 2025 7:01pm
UJ

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Success = Practice + Patience + Persistence
  • #6,224
  • Jan 12, 2025 7:03pm Jan 12, 2025 7:03pm
Quoting fxpider
UJ {image}
your direction is to sell?
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,225
  • Jan 12, 2025 7:12pm Jan 12, 2025 7:12pm
Quoting Inthebox
{quote} your direction is to sell?
yes
Success = Practice + Patience + Persistence
  • #6,226
  • Jan 12, 2025 7:27pm Jan 12, 2025 7:27pm
I turned up late and missed the best seat for UJ and Gold. Hopefully, the new H4 candle will give me another opportunity. I don't want to sell in a red candle.
Success = Practice + Patience + Persistence
  • #6,227
  • Edited 8:09pm Jan 12, 2025 7:57pm | Edited 8:09pm
Long EJ. Let's see if the plunge was a stop hunt and we get a reversal.
  • #6,228
  • Jan 12, 2025 8:05pm Jan 12, 2025 8:05pm
GOLD 4H candle failed to create an EG. So, do bulls have the edge now? My view is still bearish though.
Success = Practice + Patience + Persistence
  • #6,229
  • Jan 12, 2025 8:26pm Jan 12, 2025 8:26pm
Quoting Inthebox
gold direction for the week 13 Jan. h4 ef buy continuation. {image}
gold buy result.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #6,230
  • Jan 12, 2025 9:44pm Jan 12, 2025 9:44pm
Quoting ChinoCop
Long EJ. Let's see if the plunge was a stop hunt and we get a reversal.
Got out at breakeven+.
  • #6,231
  • Jan 12, 2025 10:08pm Jan 12, 2025 10:08pm
Quoting ChinoCop
{quote} Got out at breakeven+.
check the higher time frame.
there is support there.
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,232
  • Edited 10:26pm Jan 12, 2025 10:14pm | Edited 10:26pm
Quoting Inthebox
{quote} check the higher time frame. there is support there.
I agree. I'm looking between 160.543 and 160.389 for the next buy as there's tc and lots of fibonacci confluence in the area. If that doesn't hold then 160.050
  • #6,233
  • Jan 12, 2025 10:20pm Jan 12, 2025 10:20pm
Quoting Inthebox
{quote} check the higher time frame. there is support there.
I'm kicking myself because I was short from the top at 161.653. My stop loss was too tight and I took myself out. I'm still not a fan of entering right after the confirmation entry. I understand that price can take off without you, that is why you enter. Honestly, I would prefer to set a limit order to reduce my risk. It's a fine balance I understand.
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  • #6,234
  • Jan 12, 2025 10:26pm Jan 12, 2025 10:26pm
Asia session

GOLD and UJ: no trade,

AJ trade: D1 SNR, h4 EF, 30m TC, M5 CE

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Will be back in the London session.
Success = Practice + Patience + Persistence
  • #6,235
  • Jan 12, 2025 10:52pm Jan 12, 2025 10:52pm
Quoting FocusWinReal
{image}
please mention the time frame and pair traded in future, in case some traders would want to learn from it.
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,236
  • Jan 13, 2025 12:43am Jan 13, 2025 12:43am
Quoting Inthebox
{quote} gold buy result. {image} {image}
gold buy continuation.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #6,237
  • Jan 13, 2025 12:56am Jan 13, 2025 12:56am
Gold: Against the trend setup. My view is still bearish. I can't help seeing only the resistance.

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Success = Practice + Patience + Persistence
  • #6,238
  • Jan 13, 2025 3:48am Jan 13, 2025 3:48am
Got lucky and shorted EJ at the 5 minute roadblock which happens to be around the 50% fib. I noticed that price tends to stop around the middle of the roadblock when it moves in line with trend. So, if you're aggressive, you can jump in early hoping to catch the continuation of the trend.
Anyway, one good trade almost makes up for all of my 5 horrible fuckups. If I keep the mistakes to a minimum, I can do this if the stress doesn't kill me.
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  • #6,239
  • Jan 13, 2025 3:49am Jan 13, 2025 3:49am
Quoting fxpider
Asia session GOLD and UJ: no trade, AJ trade: D1 SNR, h4 EF, 30m TC, M5 CE {image} Will be back in the London session.
Europe session

Another trade on AJ, with the above logic.

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Success = Practice + Patience + Persistence
  • #6,240
  • Jan 13, 2025 4:29am Jan 13, 2025 4:29am
The whole day, I was preaching my bearish view on GOLD and yet I went against the plan and got a BIG SLAP on my face for the trigger-happy moment. Luckily it was a tiny position.

Lesson revisited: Always stick to your plan.

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Success = Practice + Patience + Persistence
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