The best indicator is price.
Spot gold EA from OG gold system 8 replies
Gold Miner - Gold future support and resistance level trade 7 replies
DislikedRejection at resistance on H1 chartNice bearish engulfing pattern candle with the recently closed candle. Looking for a break of the low of this bearish candle to go short.Will see what happens as the bulls have fought back in the first 5 minutes of this new candleI prefer to see more continuation of the bearish strength from the previous candle {image}Ignored
Disliked{quote}Ok, Gumrai, you show me now which candle Engulfs which, cause I got my ars kicked for that!Ignored
Disliked{quote} Candle 2 engulfs candle 1Not only is it a japanese engulfing candle it is also a western engulfing bar {image}Ignored
Disliked{quote}That is exactly what I was showing on my thread when you and RJ were kicking my arse,hollering out loud that:"The Candle is not an Engulfing Candle, because it Engulfs nothing!Stop misleading people!" and a few other invectives. And, as far as I know, it need not Engulf the Wicks.Ignored
Disliked{quote} I assume that you are referring to my post in your thread athttp://www.forexfactory.com/showthread.php?p=6534432#post6534432When I pointed out that you referred to an engulfing candle on this chart {image} Surely you can see that it is not exactly the same?The candle that you point at does not engulf anything.An engulfing candle only has to engulf the body of the candle. An engulfing bar, or the western pattern has to engulf the wicksIgnored
Disliked{quote}So, out of hundreds you pick one that does not exactly fit the definition and you trash the whole idea? Pretty interesting way to go. OK, enough.Maybe I did overdo it on this one, nevertheless the Price Action at it basics meaningis exactly the same. It is not the patterns that make Price Action, but the Price Action which makes the patterns. You can not tell the Price to obey any rules because there is a pattern. The meaning of such a Break Out is the same. Thus, I show you my trades of today.The last two were scalped on these basis on M5.On...Ignored
Disliked...I think that a little bit of leeway is OK. After all, Japanese candlestick charting was originally developed for daily charts. where there were a limited amount of trading hours per day. With 24 hour trading, there is very little difference (if any) between the close of 1 candle and the open of the next. I can't imagine why you are bringing this up again. If you believe that the candle identified in my earlier post is not an engulfing candle, then please explain why.Ignored