Simple, Non-subjective, Consistent, Effective

Not seeing any signals this morning

what about you guys? Are you in any long/short trades

from the past few days?

Chrz

my EUR/JPY died at BE yesterday, was trying a m15 entry on that one.

haven't found any 4H engulfing today for this pair.

GBP/USD and gold also don't give me anything for the moment.

Yeah, today is quite chill for me, as well

nothing of specific interest to me so far

BTW, I am just seeing a pattern that tries to form.

We've got 15 mins until it proves itself to be a valid one-

Have a look, it is CAD/JPY 1H.

Chrz

Hi everyone

As my nick-name implies I am not the brightest spark in the firmament but I choose to make this thread my first ever entry since I like the logic and simplicity behind the strategy. It is similar in many ways to Peter Crowns inside bar strategy but has the advantage of momentum behind the entries.

Since the whole strategy revolves around outside bars I am a little confused as to what actually qualifies as an outside bar. The general consensus, and the description by Ap3 is 'one that opens and closes, engulfing the previous bars open and close' This is very straightforward yet I have seen numerous trades initiated from 'outside bars' that do not engulf the whole of the previous bar. Rather, many appear to engulf just the body and upper wick of the previous candle in the case of a long trade and vice versa for a short. It could therefore be argued that these are just continuation candles and as such muddies the water significantly

If Ap3 is still around, or if anyone else feels qualified to advise, I would appreciate a clarification.

Many thanks to anyone who can help.

Ap3's engulfing bar is one where the open and close of the bar engulfs the previous bars open and close,so not all outside bars are engulfing bars according to his definition.It's a pity that Ap3 has disappeared as I think his method has some potential,there are a few other threads that promote this style of trading.It is interesting to see that the most recent posts have ignored the original rules and have dropped down in time frames to force more trades.The original rules called for taking direction from the previous daily bar and trading a 4hr chart,now the recent posters are trading 1hr charts...evolution perhaps.

http://charts.mql5.com/3/945/cadjpy-...i-uk-ltd-2.pnghttp://charts.mql5.com/3/945/cadjpy-...ari-uk-ltd.png

hey forex_idiot,

you are far from that word in your nick i am sure. good trade by the way.

as the other poster already mentioned, i felt sorry posting my own strategy in Ap3's thread even though they are very similar. nevertheless, i apologize if i have confused anyone here.

Hi Forex_idiot,
I believe nobody is trying to change the system. I you have read all the posts
you would have figured it out, that it is nobody's desire to change Ap3's system,
but myself have been using a very similar system with some minor differences.
I do not want to change the way people understand this system, I have been
just discussing some entries here. Otherwise, Ap3's system is very easy and
straightforward, so don't be confused with other people's comments. Otherwise,
for the engulfing pattern, we are looking only for open/close values and not so much
into high/low. But if low/high has been engulfed- even better. It is all about the psychology
of the market that stands behind that. Hope this clears your mind a bit
Chrz

GBP/USD is still holding above the daily support line 1.6643 which happens also to be a swing point. still looking for a prominent 4h entry to long.

Good point ZX,
that's exactly what I am looking for by the way

let's figure it out ...

What a day- no signals again did you guys take some trades?

nope, no trade for me

Good morning fellas,

Today looks brighter than yesterday for sure

GBP/NZD for example is showing a nice BULF formation.

Take a look

Chrz

GBPUSD, yesterday still closed above 1.6643, GBP is really tough nut. LOL, not sure if a 4H bullish engulfing will form in 2 hours time. i will take this trade if it happened once the high of the current 4H bar is broken.

EURJPY, not very keen taking a long position reason being it's near to my 141.23 weekly range resistance, although yesterday tested daily support and bounced high leaving a long tail. it could explode and take out both the daily resistance and weekly resistance. who knows

Hi Zx,

I believe GBP is a better place to concentrate efforts today, but as you said- who knows. I just think that

the news coming in an hour from UK could move GU nicely upwards and close a 4H bullish engulfing candle...

I am still looking for a shorter frame entry on the GU

What a day... no trades again... a third in a row

what about u guys? Any optimism

GBPUSD 4h does close up. what do you think?

1.6690 entry with a 90 pips stop loss

Yeah, I was thinking about the same, but 90 pips is a bit too much