Simple, Non-subjective, Consistent, Effective

A little update on the EUR/CAD 1H trade from yesterday-

There was another engulfing pattern overnight, which I

have missed, but in general a nice movement is forming...

here is the chart

I am looking at the Cable right now. We MIGHT

get a bullish engulfing pattern, after which I would

be looking for a long entry point from a lower time

scale, but let's see whether it's going to be a Bullish

Engulfing first. Here is the chart of what I am seeing.

Chrz

I just downloaded a new MT4 and it took me a while to figure out the new directory structure too, there was much bad language for a while.

We live and learn,

Andy.

Good morning all,

anybody trading crude? I have just noticed this 4H and 1H Bull Engulf,

which is in the direction of the main trend... have a look

Btw, are you guys trading commodities or just FX? Obviously it is a FX

forum, but I wanted to check about that.

Chrz

hi nasko,

major problem i have is my broker, it doesn't offer very good spread for a lot of currency pairs, so i only look at AUD/USD, USD/JPY, EUR/USD, EUR/JPY and GBP/USD most of the time, occasionally EUR/NZD, my broker offers inverse version of it NZD/EUR, with relatively cheaper spread, otherwise it's ridiculous about 15pips spread. i think those are good enough for many opportunities.

I do monitor US crude oil (WTI), Gold and some indices like S&P500, DOW 30, Japan, UK and Australia. now comes the perk of my broker that offers SGD (home currency) denominated contracts of the above markets. no currency conversion is needed, which is quite cool, just some of the markets require high margins.

on my chart i saw US crude oil is approaching a monthly range upper boundary.

Hi zxdtrader,

nice remark I know what you mean by higher spread- my broker is

offering a 5 points spread on crude and to me it feels like it's enormous, so that is

why I am not trading it that often, but considering opening another account

for just trading crude. This strategy sounds great for crude

Hiya,

Anybody finding good set-ups this morning?

I am looking at the NZD/JPY 1h's engulfing and

it looks like a pretty valid signal

what do u guys think?

Wow..cool
I'm sure this strategy works
Simple yet effective, no doubt about it

very likely next week GBP/USD and gold will surge higher. i am guessing.

Totally agreed! I don't know whether it is going to be next week, but they will rise for sure in the mid-long term

I guess this might be a great opportunity for a millipede builder

Just a follow-up from yesterday on NZD/JPY-

The stop is still untouched and there is another

bullish engulfing around the same level as yesterday,

which confirms the same price action is taking place

around the same price level

every time i trade 1h, i got screwed, LOL. maybe because my time zone is in Asia, who knows.

NZD/JPY daily is still up, price is trapped in the daily range, no close below 84.42. weekly shows it briefly tapped the weekly upper boundary. but i think very likely the upward movement will continue if today close above last week's high. that's my analysis on this pair, personally i don't trade it since my broker charges 5-7 pips for this pair.

Hi zxdtrader,

try fine-tuning with another time scale. There might be a few

misleading signals along the way . Otherwise, I agree with u

about the NZD/JPY and as you have the conviction that the

next move is up... but let's see

Thanks nasko!

ya i trade 4H. the green dashed line is drawn on the daily bullish engulfing candle. subsequent days are separated by grey dashed lines, 6x 4H candles in between 2 lines. 4H bullish engulfing for entry.

Niceee! I have attached an example of another timescale,

which could be used, as well. In general, the higher the time frame

the better, but I have found that 15M could be quite reliable

I hope the strict followers of Ap3's system do not crucifix me,

but I am not trying to change the original rules, I am just showing

a bit of my way of trading...

just my 0.02

Hi zxdtrader,

indeed you can PM me, if you want me to share how I am doing my fine-tuning. I just

don't want to flood this thread with other ideas. Want to stick to its original rules-

I don't even want to give a hint of another system- something which I have already

done, but I think I shouldn't have to. Let's stick to its original. By the way, where is Ap3- have

you guys heard of him?

Chrz

ya. i think it's my bad to post my tweaks. let's stick to Ap3's rules here.

Good morning fellas

I have noticed that there is a bullish engulfing on the EC pair.

The last one was preceded by another engulfing during the Asian

session, which gives further clarity on which side the price action

stands. Have a look at the chart attached

As a matter of fact, the stop of the EC is still holding, but I am spotting

another engulfing on the AU pair. Have a look guys. There is basically

the same pattern on the NZD/USD, as well Any thoughts?

Chrz

well i wish we can keep trying this syst its really cool when you follow the rules i took this u/j trade yestarday it took hours before hitting my TP i took 1:2 but could have gone to 1:3

am now in the e/j trade we shall see how it goes