MTF Engulf / Engulf fail | Page 339 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Engulf Bar Trading Journal 19 replies

MPE - Momentum, Pullback, Engulf 33 replies

Trade management - moving stops to BE+ after opposing engulf 2 replies

Engulf Alert Indicator 1 reply

MTF Stochastics into MTF Stoch Histogram 8 replies

Attachments: MTF Engulf / Engulf fail
Exit Attachments

MTF Engulf / Engulf fail

  • #6,761
  • Feb 19, 2025 4:43am Feb 19, 2025 4:43am
Quoting Inthebox
gold just hit ath. no more red news today. thread carefully with reduced lot size. space out accumulation if need be.
3am fomc
PA Return Today: 16.8%
  • #6,762
  • Feb 19, 2025 5:06am Feb 19, 2025 5:06am
gold fast move up
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 17 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,763
  • Feb 19, 2025 5:18am Feb 19, 2025 5:18am
gold quick trades
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 6 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,764
  • Feb 19, 2025 6:53am Feb 19, 2025 6:53am
gold london swept
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 14 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,765
  • Feb 19, 2025 7:09am Feb 19, 2025 7:09am
Quoting Inthebox
gold london swept {image}
London market will close in 1h22m.
You fix London low with NY open ?
I might be wrong , I have been wrong before
  • #6,766
  • Feb 19, 2025 7:43am Feb 19, 2025 7:43am
Quoting Mandariin
{quote} London market will close in 1h22m. You fix London low with NY open ?
i don't understand what is 'fix london low with ny open'.
after we had an all time high, market is consolidating into a converging triangle
to decide whether to go up to london high or go down to asia low.
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,767
  • Feb 19, 2025 7:53am Feb 19, 2025 7:53am
Quoting Inthebox
{quote} i don't understand what is 'fix london low with ny open'. after we had an all time high, market is consolidating into a converging triangle to decide whether to go up to london high or go down to asia low.
You marked London low on chart. But London market was still open and real London session low is lower.
Real London session low is the wick in to box you marked below.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 2 KB
I might be wrong , I have been wrong before
  • #6,768
  • Edited 8:29am Feb 19, 2025 8:16am | Edited 8:29am
Quoting Mandariin
{quote} You marked London low on chart. But London market was still open and real London session low is lower. Real London session low is the wick in to box you marked below. {image}
there is a period where london and new york are mixed. what would one call that period? london afternoon cum new york morning?
for me to have simplicity and clarity, as per FF main page at bottom right corner stated sessions time.
new york opens at 8am est from here on is new york session.
before 8am est is london session.
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,769
  • Feb 19, 2025 8:39am Feb 19, 2025 8:39am
Quoting Inthebox
{quote} there is a period where london and new york are mixed. what would one call that period? london afternoon cum new york morning? for me to have simplicity and clarity, as per FF main page at bottom right corner stated sessions time. new york opens at 8am est from here on is new york session. before 8am est is london session.
So overlaps Asia with London too. That's why I was confused when we have different London lows.
I use "official" Asian and London levels.
I might be wrong , I have been wrong before
  • #6,770
  • Feb 19, 2025 9:01am Feb 19, 2025 9:01am
gold asia low swept
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 14 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,771
  • Feb 19, 2025 4:24pm Feb 19, 2025 4:24pm
Quoting Inthebox
gold on review during frankfurt session. there was a ltf confirmation entry until a day high resistant. i will still wait for gold to go below the ssl for a safest buy. this will take a couple of hours. who knows. {image}
if you were to wait for this one trade for the whole day, would you do it?
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 26 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,772
  • Feb 19, 2025 5:00pm Feb 19, 2025 5:00pm
gold what happened yesterday
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,773
  • Feb 19, 2025 5:34pm Feb 19, 2025 5:34pm
gold sudden drop
good thing that i trail my stops
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 9 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,774
  • Edited 6:41pm Feb 19, 2025 6:25pm | Edited 6:41pm
my reflection these 2 weeks and my conclusion.
gold trading is merciless when it goes against you.
it can be anything from 200 - 600 pips going the opposite way.
the number one concern is capital preservation because without capital there won't be any trading.

what will kill your account is
1. big lot size
2. trade frequency

how i am going to handle them.
1. for every $1000 account, the maximum lot size will be 1/9 = 0.11 for the whole trading period.
divide into 3 groups 0.11/3 = 0.03 for each group.
i seldom go for one shot one kill. so to have 3 shots 0.03/3 = 0.01 for each trade.
2. i have my 1st grouping of 3 shots.
if somehow it goes against me and i did not put on stop loss, and i deduce that i can afford to average out the cost (or my strategy is cost averaging)
the 2nd grouping of 3 shots will be 120 -150 pips away from the 1st grouping.
3. try not to use the 3rd grouping of 3 shots. if you intend to risk further then it will have to be 120 - 150 pips away from the 2nd grouping.
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,775
  • Feb 19, 2025 7:01pm Feb 19, 2025 7:01pm
the application
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 13 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,776
  • Feb 19, 2025 7:10pm Feb 19, 2025 7:10pm
gold i decided to close all because i got 1.6% equity return for asia session.
what happen later does not matter to me anymore.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 8 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,777
  • Feb 19, 2025 7:26pm Feb 19, 2025 7:26pm
do not know whether gold is going for the top or not.
but if gold is pulling back, i will be waiting either at the asia range discount or the wider range discount market.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 21 KB
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,778
  • Feb 19, 2025 7:46pm Feb 19, 2025 7:46pm
oh no.
https://www.theguardian.com/world/20...th-about-trump
ITB - Seeing Orderliness amongst 'Randomness'
  • #6,779
  • Feb 19, 2025 7:51pm Feb 19, 2025 7:51pm
Continue buying gold
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_2025-02-20_10-38-08.png Size: 63 KB
  • #6,780
  • Feb 19, 2025 7:59pm Feb 19, 2025 7:59pm
Quoting nguyenvu0123
Continue buying gold {image}
some weakness beginning to show
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 29 KB
ITB - Seeing Orderliness amongst 'Randomness'
4 traders viewing now