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  • #21
  • Oct 4, 2020 6:30pm Oct 4, 2020 6:30pm
EURUSD is having a setup resumed from Friday,one of the major pairs.I trade Asian session when there is only value.

If the pattern works only in certain markets,just trade it then,so what. SayWhat??????,you are stating points and answering them yourself,didn't realise that?

The system is low DD - read the rules...o boyyyyy the market just opened and here come negativity already .Please try trading it if you spend much time studying the market,as you say then post where its so difficult to make pips,700 trades,a good test......

KB ,keep posting sir.
  • #22
  • Oct 4, 2020 6:44pm Oct 4, 2020 6:44pm
Quoting stevepatt
{quote} The only way for this to work is for the CS2 Bar to Close and then wait for the Pullback. I think, hope this is what KepalaBesi means, it's certainly what I presumed.
Yes, we will wait for a pullback.
Do not repeat my mistake, before this I will do an instant order, right away when the CS2 closed by doing that im exposing myself to greater risk like using a bigger SL, and very bad Risk to Reward.
Especially when you're trading a candle with very big body.

But sometimes we cant avoid from using instant order, for example
If you trade on a smaller timeframe a small move ups or down wouldnt allow you to place a limit order or when you trade using a candle with smaller body, there is a high chance that you will miss the entry because you have no space to place your limit order.

im not really sure about this, this probably just a broker thing.

And another one i hate the most floating! Just hit my SL please
  • #23
  • Oct 4, 2020 7:58pm Oct 4, 2020 7:58pm
is this BTS ?
Beginners Luck
  • #24
  • Oct 4, 2020 8:24pm Oct 4, 2020 8:24pm
I believe an indicator already exists for this set up.
Check out this thread, there are three similar indicators to what you are attempting to show here. Non-repainting to. https://www.forexfactory.com/thread/...humble-request
Trade what "Is", not what "If".
  • #25
  • Oct 4, 2020 8:26pm Oct 4, 2020 8:26pm
Example :
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFiDaily-4-30-2019.png Size: 167 KB
Trade what "Is", not what "If".
  • #26
  • Oct 4, 2020 8:53pm Oct 4, 2020 8:53pm
Quoting FXSayWhat
hi KepalaBesi A few things I would like to point out. This pattern only works on a trending market and breakouts. You will get caught on the fakeouts during an opening or news event. You will get caught in a choppy section. You picked on the trendy currency pairs (like Gold) to set your examples. What about the non-trendy pairs? This entry will result in a large stop-loss assuming it will be placed near the 1st candle's high/low. It means the s/l is a much as your first candle. Any stop-loss hit loss will result in a "deep" cut to your capital....
• This pattern only works on a trending market and breakouts.
• Yes, it works best in trending market

• You will get caught on the fakeouts during an opening or news event.
• i dont know how to answer this right now

• You will get caught in a choppy section.
• This is something that ive been struggling before, and this is one of the few flaws i found in this strategy.
my only advice is to trade either during london or us session, during this session market have the most volatility.

• You picked on the trendy currency pairs (like Gold) to set your examples. What about the non-trendy pairs?
• it works on any currency, i used to trade on all major pairs,
as an intraday trader i do not hold position for more than 8 hours, i will usually close all my position in the midst of US session
most of my trade are actually closed less than 8 hours, either TP or manually Closed
so picked currency that has more volatility, that is why im focusing on this four pair only.
it just my personal preference i just want a quick ins and outs

• This entry will result in a large stop-loss assuming it will be placed near the 1st candle's high/low. It means the s/l is a much as your first candle. Any stop-loss hit loss will result in a "deep" cut to your capital.

• yes this is another flaws of this trading strategy sometimes you get a setup with very minimal stoploss
and most of the time you get a setup with 30~50pips of SL, and on a trending market you get a mother of candles that cost you 100pips.
i suggest to any traders that want to try this strategy, please pick your trades.

there are few entry strategy to minimise the losses, but i just dont like to share it because often time you either missed the trade or get stopped out early,
this is why stick to this marked low high as entry point.

yes this indeed a work in progress, a 2 month old strategy actualy.

haha someone actually saw this, yes this trading strategy is aggressive as fork, pick your trade i cant promise you green pips but at least you can minimise your losses
if you pick your trades

i do not trade using this strategy alone
90% of this strategy as my entry point and signal to either go long or short
5% of Chart patterns to validate my entry, is it going this way or this way?
5% of Support and Resistant, will this zone hold or will it break, i mostly use this when using the type two entry
because it is the riskiest entry, would you catch a falling knives?
another use of S and R, is for the another entry strategy besides type 1 and 2 that i said earlier

sorry if missed a few things i will clear that out once i get a solid answer
  • #27
  • Oct 4, 2020 9:21pm Oct 4, 2020 9:21pm
Quoting 4xu2
Example : {image}
yes it does from this one example
only different that i see the entry point
  • #28
  • Oct 4, 2020 9:22pm Oct 4, 2020 9:22pm
Quoting Toppi
{quote} Its look like a new engulfing version
haha ya it is another version of engulfing
  • #29
  • Oct 5, 2020 1:37am Oct 5, 2020 1:37am
such a big coincidence because i just "thought" about the same strategy last week. Entry points and setups are the exact same. The only difference is i wait for candle 3 to enter instead of putting a pending order during candle 2.

I believe you put pending order even when candle 2 has not closed right?

Also how do you put your stoploss? Just at the CS1 high/low?
  • #30
  • Oct 5, 2020 2:32am Oct 5, 2020 2:32am
Quoting CrocodileRex
such a big coincidence because i just "thought" about the same strategy last week. Entry points and setups are the exact same. The only difference is i wait for candle 3 to enter instead of putting a pending order during candle 2. I believe you put pending order even when candle 2 has not closed right? Also how do you put your stoploss? Just at the CS1 high/low?
no i will wait candle 2 to close, but today not a good example of that because i was little late to use pending order and use an instant order instead
you can see my SL there

only took two trade today GOLD and G/J, i leave the other two because of my account could not hold more than 2 position
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDmicroH4.png Size: 39 KB
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDmicroM30.png Size: 47 KB
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYmicroH1.png Size: 51 KB
Attached Image (click to enlarge)
Click to Enlarge Name: GOLDmicroH1x.png Size: 57 KB
  • #31
  • Oct 5, 2020 2:42am Oct 5, 2020 2:42am
what do you think about this trade? I just took it earlier and got stopped out. Is it valid in your opinion?
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDH1.png Size: 29 KB
  • #32
  • Oct 5, 2020 3:14am Oct 5, 2020 3:14am
Quoting CrocodileRex
what do you think about this trade? I just took it earlier and got stopped out. Is it valid in your opinion? {image}
the one that you marked ? the first 3 candles it is valid but the reward isnt that great

this is what the guy mention before in this thread how to avoid the choppy section and fakeout, i have no answer for that yet

whoopsie i just got stopped out on my trade, i missed the TP by few pips.
  • #33
  • Oct 5, 2020 4:00am Oct 5, 2020 4:00am
Quoting KepalaBesi
{quote} Yes you are absolutely right, it is Open and Close of a candle.
No it's not Open and Close either, it is just Open. You're talking about the very old engulfing pattern. Millions of words and thousands of threads have been written about this pattern.

It cannot be used as a strategy on its own, you can use it as a trigger inside a more complex strategy. As a starting point, since it works better in trending periods you have to define the current trend, but also about this topic has already been told everything.

Just one last advice, if you cannot open more than 2 trades it means your lot size is far too high.
  • #34
  • Oct 5, 2020 5:45am Oct 5, 2020 5:45am
Quoting L.m
{quote} No it's not Open and Close either, it is just Open. You're talking about the very old engulfing pattern. Millions of words and thousands of threads have been written about this pattern. It cannot be used as a strategy on its own, you can use it as a trigger inside a more complex strategy. As a starting point, since it works better in trending periods you have to define the current trend, but also about this topic has already been told everything. Just one last advice, if you cannot open more than 2 trades it means your lot size is far too...
im acting like a little kids with his new toys
im just too excited to share, because i have a winning rate that i never had before
i recovered my losses, i made a profit on top of my recovery using just this strategy.

thanks for the enlightenment
i learn new things every day
  • #35
  • Edited 7:51am Oct 5, 2020 6:24am | Edited 7:51am
i found a Video: "Bullish Engulfing Pattern Tested 100 TIMES"

The winrate is not bad for an RR loss1:win1.5

Inserted Video
  • #36
  • Oct 5, 2020 6:32am Oct 5, 2020 6:32am
Quoting scsstnt
EURUSD is having a setup resumed from Friday,one of the major pairs.I trade Asian session when there is only value. If the pattern works only in certain markets,just trade it then,so what. SayWhat??????,you are stating points and answering them yourself,didn't realise that? The system is low DD - read the rules...o boyyyyy the market just opened and here come negativity already .Please try trading it if you spend much time studying the market,as you say then post where its so difficult to make pips,700 trades,a good test...... KB ,keep posting sir....
Took this off the H1 47 pips,I leave the trade running and went to sleep,I had many more positions opened but I closed them earlier
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 395 KB
  • #37
  • Oct 5, 2020 7:56am Oct 5, 2020 7:56am
Another buying opportunity on EURUSD - H1 of course,touch down,the plane has landed.Like a guided missile on its way to destroy the target.

KB..... Say hello to your family on my behalf and keep safe my friend......we are destroying the market here in the caribbean,as always.....I'm also buying GOLD(1910.50 target),GN (target YH) & GU (daily R1) Insha Allah all stops in place,zero risk

I like when I lose trades,makes me feel human and where I went wrong,otherwise break-even SAVES LIVES!!!!!! REMEMBER THAT!
  • #38
  • Oct 5, 2020 8:12am Oct 5, 2020 8:12am
Beautiful EURUSD,observe the levels that are breaking through and retesting all the way up.
Euro spikes after strong Eurozone retail sales data
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 74 KB
  • #39
  • Oct 6, 2020 5:07am Oct 6, 2020 5:07am
Quoting scsstnt
Beautiful EURUSD,observe the levels that are breaking through and retesting all the way up. Euro spikes after strong Eurozone retail sales data {image}
nice 1,2,3 pattern there, touch and go.

very busy tuesday for me, no time to look at the charts
  • #40
  • Oct 6, 2020 6:45am Oct 6, 2020 6:45am
maybe that will help someone

Attached File(s)
File Type: ex4 Engulfing Bar Alert v1.2.ex4   15 KB | 571 downloads
Attached File(s)
File Type: mq4 Engulfing Bar Alert v1.2.mq4   4 KB | 673 downloads
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