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  • #841
  • Jan 14, 2014 9:43pm Jan 14, 2014 9:43pm
Hi 60minuteman,

Sorry to ask a very beginner question ,but i am not able to understand your concept of engulfs? Is it a simple Outside bar or do you define it differently. From the charts you have posted , the engulfs you define are different from the standard definition of a engulf.

How do you define a engulf/2bar engulf?
  • #842
  • Jan 15, 2014 3:06am Jan 15, 2014 3:06am
Quoting zamfir
Hi 60minuteman, Sorry to ask a very beginner question ,but i am not able to understand your concept of engulfs? Is it a simple Outside bar or do you define it differently. From the charts you have posted , the engulfs you define are different from the standard definition of a engulf. How do you define a engulf/2bar engulf?
Hi Zamfir, first a bit of logic...

We know that the best location to enter a market is when it changes direction, we need a reliable way to define that. Whenever markets change direction they have to print an engulf on the chart, sometimes it may take more than 1 bar.

There is no magic in the engulf, it is just a reliable and early indicator of a POSSIBLE trend starting.

The definition is easiest to understand with a chart of just price opens and closes, the engulf is designed when price changes direction and closes under or over the previous directions open.

So in effect were looking for the bodies to change direction and close

Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2014-01-15 at 09.01.10.png Size: 69 KB
tradewith60
  • #843
  • Jan 15, 2014 3:07am Jan 15, 2014 3:07am
Quoting zamfir
Hi 60minuteman, Sorry to ask a very beginner question ,but i am not able to understand your concept of engulfs? Is it a simple Outside bar or do you define it differently. From the charts you have posted , the engulfs you define are different from the standard definition of a engulf. How do you define a engulf/2bar engulf?

Bearish engulfing pattern starts with a bullish bar, followed by one (or two, in case of 2-bar engulfs) bearish bar(s) that close below the open of the initial bullish bar. Vice versa for the bullish engulf. The pattern is similar to the outside bars, but focuses on open/close relationships instead of high/low. Technically you may have an engulfing pattern, where the engulfing bar is an inside bar. Personally I would stay away from it though, I want nice and clean patterns that indicate a clear reversal.
  • #844
  • Jan 15, 2014 3:33am Jan 15, 2014 3:33am
Quoting 60minuteman
{quote} Hi Zamfir, first a bit of logic... We know that the best location to enter a market is when it changes direction, we need a reliable way to define that. Whenever markets change direction they have to print an engulf on the chart, sometimes it may take more than 1 bar. There is no magic in the engulf, it is just a reliable and early indicator of a POSSIBLE trend starting. The definition is easiest to understand with a chart of just price opens and closes, the engulf is designed when price changes direction and closes under or over the previous...
Thanks. Got it now...
  • #845
  • Jan 15, 2014 7:26am Jan 15, 2014 7:26am
Hi 60,
Could you make a video on GBP/CAD and the actual Price Action


The monthly - Weekly context is up
Daily made a bullish engulf

H4 just taken a bang on the head

Thanks
  • #846
  • Jan 15, 2014 7:34am Jan 15, 2014 7:34am
20 THINGS THAT MENTALLY STRONG PEOPLE DON'T DO

http://elitedaily.com/life/motivatio...ref_map=%5B%5D
tradewith60
  • #847
  • Jan 15, 2014 7:59am Jan 15, 2014 7:59am
Thanks for that 60!
  • #848
  • Jan 15, 2014 8:43am Jan 15, 2014 8:43am
Quoting biker883
Hi 60, Could you make a video on GBP/CAD and the actual Price Action The monthly - Weekly context is up Daily made a bullish engulf H4 just taken a bang on the head Thanks
Inserted Video
tradewith60
  • #849
  • Jan 15, 2014 9:23am Jan 15, 2014 9:23am
Trade Example

Inserted Video
tradewith60
  • #850
  • Jan 15, 2014 10:27am Jan 15, 2014 10:27am
Hi 60,

Thank you for the recordings,
it is really eyes opener, and getting slowly into the concept.

I have a couple of questions if you don't mind.

- when you consider an entry in line with the HTF trend, do you always enter on a support or do you also consider entering on the breakout of the resistance which could have been the case at 1.8030 on GBP/CAD,

and I just realised while writing that the small engulfing candle in the circle which I took for a long signal was in fact a failure and therefore I was incorrect incorrect.
Would have it closed above the resistance, probably was the sign of more bullishness.



- What would be for you the right steps for the novice traders of your approach the get the grip on it - Do you recommend at start to follow a couple of pairs?
- How do you choose which pair you are going to monitor?

I have to say that amongst the vast amount of information around you have the simplest approach ever.

NO if, NO maybe, NO bullshit, just 1 setup

How long did it took you to master it?

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD.png Size: 113 KB


Wish you had a kind of mentor/support service or dedicated group on skype

Cheers
  • #851
  • Jan 15, 2014 11:03am Jan 15, 2014 11:03am
Quoting biker883
Hi 60, Thank you for the recordings, it is really eyes opener, and getting slowly into the concept. I have a couple of questions if you don't mind. - when you consider an entry in line with the HTF trend, do you always enter on a support or do you also consider entering on the breakout of the resistance which could have been the case at 1.8030 on GBP/CAD, and I just realised while writing that the small engulfing candle in the circle which I took for a long signal was in fact a failure and therefore I was incorrect incorrect. Would have it closed...
sent you a p.m mate
tradewith60
  • #852
  • Jan 15, 2014 12:47pm Jan 15, 2014 12:47pm
Quoting 60minuteman
{quote} sent you a p.m mate
I'm very interested too
  • #853
  • Jan 15, 2014 1:00pm Jan 15, 2014 1:00pm
Quoting biker883
Do you recommend at start to follow a couple of pairs? - How do you choose which pair you are going to monitor?
I was going to ask exactely the same question.

You said you are trading just 3 pairs (GBPJPY S&P500 and GOLD).
Since this method works on all pairs, Why you trade just 3?
Don't you watch also the others?
  • #854
  • Jan 15, 2014 1:22pm Jan 15, 2014 1:22pm
Quoting lucariga
{quote} I was going to ask exactely the same question. You said you are trading just 3 pairs (GBPJPY S&P500 and GOLD). Since this method works on all pairs, Why you trade just 3? Don't you watch also the others?
think of it this way,

If you average 100 pips a week and can maintain it over a long period of time... (remember I say 'average') Do you think there is any real advantage of winning 200 pips a week on average?....

So adding pairs just adds time at the charts....
tradewith60
  • #855
  • Jan 15, 2014 2:01pm Jan 15, 2014 2:01pm
Quoting 60minuteman
{quote} think of it this way, If you average 100 pips a week and can maintain it over a long period of time... (remember I say 'average') Do you think there is any real advantage of winning 200 pips a week on average?.... So adding pairs just adds time at the charts....
Ok, but how did you choose those 3?

And yes, you are right, if you can average 200 pips/week you don't need anymore....
  • #856
  • Jan 15, 2014 2:13pm Jan 15, 2014 2:13pm
Quoting lucariga
{quote} Ok, but how did you choose those 3? And yes, you are right, if you can average 200 pips/week you don't need anymore....
I picked 3 that should trend well based on the last few years... just check the weekly and monthly timeframes..
tradewith60
  • #857
  • Jan 15, 2014 3:28pm Jan 15, 2014 3:28pm
Quoting 60minuteman
Trade Example http://youtu.be/aE3EAPT-igY
TRADE UPDATE
Inserted Video
tradewith60
  • #858
  • Jan 16, 2014 1:50am Jan 16, 2014 1:50am
Thank you to share your system. I am new and I would like if some peoples have a Template for. what is the value for the MA and how to put the littles dot on the high and low af each candles.


have a nice day at all
  • #859
  • Jan 16, 2014 3:29am Jan 16, 2014 3:29am
Quoting liberty55
Thank you to share your system. I am new and I would like if some peoples have a Template for. what is the value for the MA and how to put the littles dot on the high and low af each candles. have a nice day at all
No MA's needed, No template needed, just a clean basic chart and a read that starts on page 1
(It's worth is )
Don’t ever let someone tell you that you can’t do something.
  • #860
  • Jan 16, 2014 6:49am Jan 16, 2014 6:49am
Hey 60, can you help me with this pair? Cause I think I'm missing something.
GBPUSD

Last week engulfed UP, so this week UP until AT LEAST the 1st Monthly SR

Attached Image (click to enlarge)
Click to Enlarge Name: GUM.png Size: 32 KB


Attached Image (click to enlarge)
Click to Enlarge Name: GUW.png Size: 34 KB


Let's go down to the 4H to wait for an engulfing UP to enter

Attached Image (click to enlarge)
Click to Enlarge Name: GU4.png Size: 46 KB


3 entries, 3 loss. What am I doing wrong?
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