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  • #861
  • Nov 29, 2011 10:25pm Nov 29, 2011 10:25pm
price would never rally from any demand without a BULLISH ENGULFING, and
would never drop from any supply without a BEARISH ENGULFING.

by redsword11

an engulfing example by Ifmyante

http://www.forexfactory.com/attachment.php?attachmentid=832923&d=1321453710
I love PIE and RTP
  • #862
  • Nov 29, 2011 10:50pm Nov 29, 2011 10:50pm
Quoting gristar
Okay. now i see there are 2 ways here.
1. enter when u see engulfing. but u risk more because stop loss is further away.
2. enter as early as red with less confirmation, you risk less cause you are nearer to stop loss.

So for me I am not half of reds skill yet, better to wait for confirmation like momentum switch.

Is bearish engulfing = showing the momentum switch from bullish to bearish?
come on man stop looking to be RED.

YOU need to KNOW PRICE AND YOURSELF> DONE.

know yourself, know price, u got nothing to fear. everythingelse in between is either help or not help. YOU CANNOT TRADE when you dont know WHO YOU ARE.
Have I got something on my face, SOLDIER?
  • #863
  • Nov 29, 2011 10:55pm Nov 29, 2011 10:55pm
Quoting bumapatria
come on man stop looking to be RED.

YOU need to KNOW PRICE AND YOURSELF> DONE.

know yourself, know price, u got nothing to fear. everythingelse in between is either help or not help. YOU CANNOT TRADE when you dont know WHO YOU ARE.
agree, every method or style that other people have is to direct our mind, but the best way is develop it by ourself. I also learn a lot of thing from the expert masters, but I can't be them. those all about our style.
buma's statement also save me to trade by my own style.

thank's buma
I love PIE and RTP
  • #864
  • Nov 30, 2011 3:25am Nov 30, 2011 3:25am
Quoting bumapatria
one thing though the big hunters know we look for those sorts of things so dont be surprised to find fake pinbars and fake patterns, because those do occur at the minor weak suplly/demand levels and trap impattient retailers thinking of a reversal.

just be careful with those fakes
Totally agree with that.

PB, engulfing... are just lagging indicator imho
I hear and I forget. I see and I remember. I do and I understand.
  • #865
  • Nov 30, 2011 3:47am Nov 30, 2011 3:47am
emene my friend
its a double edge sword

Cheers
aligater
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born to speculate
  • #866
  • Nov 30, 2011 3:55am Nov 30, 2011 3:55am
I agree with pinbars, i dont like them, although they are indicating something.

But i deeply disagree with engulfings. I see what you mean, but take it this way :

Spot an engulfing north, for example, draw an horizontal line at the top of it, and another one at the base of it. Wait for the price to live its life for a while, and watch what happens a few hours or a few days later, when touching one of those lines. Then engulfings become a LEADING indicator.

Attached is a valuable tool that does all this for you, although killing your MT4 memory resources.

Cheers,

Emene

Quoting boubafx
engulfing... are just lagging indicator imho
Attached File(s)
File Type: mq4 CANDLESTICK_test_with_alert_chart_email.mq4   22 KB | 347 downloads
Hello.
  • #867
  • Nov 30, 2011 4:11am Nov 30, 2011 4:11am
Quoting aligater
emene my friend
its a double edge sword

Cheers
aligater
my friend
see this
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born to speculate
  • #868
  • Nov 30, 2011 4:18am Nov 30, 2011 4:18am
Quoting emene
I agree with pinbars, i dont like them, although they are indicating something.

But i deeply disagree with engulfings. I see what you mean, but take it this way :

Spot an engulfing north, for example, draw an horizontal line at the top of it, and another one at the base of it. Wait for the price to live its life for a while, and watch what happens a few hours or a few days later, when touching one of those lines. Then engulfings become a LEADING indicator.

Attached is a valuable tool that does all this for you, although killing your MT4 memory...

hey emene yes it sort of becomes a s/d delta zone like what hidden gap suggests.
Have I got something on my face, SOLDIER?
  • #869
  • Nov 30, 2011 4:23am Nov 30, 2011 4:23am
Quoting gristar
Okay. now i see there are 2 ways here.
1. enter when u see engulfing. but u risk more because stop loss is further away.
2. enter as early as red with less confirmation, you risk less cause you are nearer to stop loss.

So for me I am not half of reds skill yet, better to wait for confirmation like momentum switch.

Is bearish engulfing = showing the momentum switch from bullish to bearish?
1- risk more? reduce position size and risk the same. don't bother trying to pick market tuning points with a 5 pip stop.

2- red is not taking touch trades all the time, most of the time he is trading after he has seen the markets reaction to a s+d zone.
  • #870
  • Nov 30, 2011 4:34am Nov 30, 2011 4:34am
Sorry, I don't get your point.

Quoting aligater
my friend
see this
Hello.
  • #871
  • Nov 30, 2011 4:43am Nov 30, 2011 4:43am
Quoting bumapatria
one thing though the big hunters know we look for those sorts of things so dont be surprised to find fake pinbars and fake patterns, because those do occur at the minor weak suplly/demand levels and trap impattient retailers thinking of a reversal. careful with those, there are lots of fakes out there, its good to trade them when u can gauge momentum. in time u will learn not to use candle patterns or bar patterns but for now, try use them and share ur results with all of us.

about h2's pullback comments, yes tht is one of the safest ways of...
you can get fake signals from any trading method, nothing is 100% fool proof, and you will not know this until after the event.

Also in my comments above I suggested to trade only key supply and demand levels after PA conformation.
  • #872
  • Nov 30, 2011 4:52am Nov 30, 2011 4:52am
Quoting emene
I agree with pinbars, i dont like them, although they are indicating something.

But i deeply disagree with engulfings. I see what you mean, but take it this way :

Spot an engulfing north, for example, draw an horizontal line at the top of it, and another one at the base of it. Wait for the price to live its life for a while, and watch what happens a few hours or a few days later, when touching one of those lines. Then engulfings become a LEADING indicator.


Cheers,

Emene
Very interesting Emene
I hear and I forget. I see and I remember. I do and I understand.
  • #873
  • Nov 30, 2011 5:23am Nov 30, 2011 5:23am
Quoting emene
Sorry, I don't get your point.
what do you mean?
it aint so hard


aligater
born to speculate
  • #874
  • Edited 7:05am Dec 1, 2011 6:54am | Edited 7:05am
Bonjour,
don't know if i can post this here. Aimed to answer newcomers questions at PIE. Feel free to remove it if not suited to the thread.
Thanks.
PS: Implemented in real time no hindsight.
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Rien ne sert de courir il faut partir à point.
  • #875
  • Dec 1, 2011 8:00am Dec 1, 2011 8:00am
Quoting flytox
Bonjour,
don't know if i can post this here. Aimed to answer newcomers questions at PIE. Feel free to remove it if not suited to the thread.
Thanks.
PS: Implemented in real time no hindsight.
What criteria you look at when you short at 1, flytox?
Do you look at other time frame?
Do you look at currency correlation?
  • #876
  • Dec 1, 2011 8:11am Dec 1, 2011 8:11am
hi flytox!

if u dont mind will u explain briefly the concept of locking a position.
im not sure i clearly understand it and would appreciate if anyone can just give me a short explanation.
hope im not asking for a lot.

thank you very much.
  • #877
  • Dec 1, 2011 8:45am Dec 1, 2011 8:45am
Quoting elliotrader
hi flytox!

if u dont mind will u explain briefly the concept of locking a position.
im not sure i clearly understand it and would appreciate if anyone can just give me a short explanation.
hope im not asking for a lot.

thank you very much.
Moving your stops to break even (BE) or break even + some profit. I usually do BE+1 that way the entire trade isn't a complete wash. At that point, your trade is now risk free (you are simply risking profit you have yet to take).
  • #878
  • Dec 1, 2011 8:55am Dec 1, 2011 8:55am
Quoting elliotrader
hi flytox!

if u dont mind will u explain briefly the concept of locking a position.
im not sure i clearly understand it and would appreciate if anyone can just give me a short explanation.
hope im not asking for a lot.

thank you very much.
or u can buy the instrument and ure in profit u can sell it to lock ur profit. vice versa with a sell
Have I got something on my face, SOLDIER?
  • #879
  • Dec 1, 2011 9:01am Dec 1, 2011 9:01am
ok ,great guys.
i do some locking myself i guess i just didn't know thats the way to call it.

thank you very much.
  • #880
  • Dec 1, 2011 10:06am Dec 1, 2011 10:06am
Quoting highlander2
First of all don't try to be red, learn from him but don't try to be him, sometimes he sells at levels with very little PA but remember he is a master at this.

I suggest that you wait for a pattern to occur that will confirm that your s/d zone is valid, simply stalling at a zone is not a reason to trade, not for a beginner or for someone who is still not good at this. I would be looking to trade engulfing bars, outside bars and pin bars at KEY supply and demand levels.
thats what im talking about!
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