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  • #301
  • May 23, 2013 12:10am May 23, 2013 12:10am
Looks like a double bottom trying to set up on the daily chart.
The best indicator is price.
  • #302
  • May 23, 2013 4:17am May 23, 2013 4:17am
Quoting scfx
Looks like a double bottom trying to set up on the daily chart.
Yes, but today's D1 is in formation and not closed, so we don't know.
Long in the morning, yes, but H4 suggests Bears later on.
200 plus Pip Potential up, but still this only looks like a retrace on Bears.

I would place my bet on a Range at ca. 200 Pips up & down.
Trade the facts, not opinions.
  • #303
  • May 23, 2013 8:08am May 23, 2013 8:08am
Rejection at resistance on H1 chart
Nice 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 candle
I prefer to see more continuation of the bearish strength from the previous candle
Attached Image (click to enlarge)
Click to Enlarge Name: gold 23 may h1.gif Size: 20 KB
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  • #304
  • May 23, 2013 8:14am May 23, 2013 8:14am
Quoting Gumrai
Rejection 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}
Ok, Gumrai, you show me now which candle Engulfs which, cause I got my ars kicked for that!
Trade the facts, not opinions.
  • #305
  • May 23, 2013 9:00am May 23, 2013 9:00am
Quoting Dadas
{quote}Ok, Gumrai, you show me now which candle Engulfs which, cause I got my ars kicked for that!
Candle 2 engulfs candle 1
Not only is it a japanese engulfing candle it is also a western engulfing bar
Attached Image (click to enlarge)
Click to Enlarge Name: gold 23 may h1 2.gif Size: 21 KB
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  • #306
  • May 23, 2013 9:04am May 23, 2013 9:04am
Quoting Gumrai
{quote} Candle 2 engulfs candle 1Not only is it a japanese engulfing candle it is also a western engulfing bar {image}
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.
Trade the facts, not opinions.
  • #307
  • May 23, 2013 9:24am May 23, 2013 9:24am
Quoting Dadas
{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.
I assume that you are referring to my post in your thread at
http://www.forexfactory.com/showthread.php?p=6534432#post6534432
When I pointed out that you referred to an engulfing candle on this chart

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m5-fxsalt-ltd-3.png Size: 21 KB


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 wicks
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  • #308
  • May 23, 2013 9:40am May 23, 2013 9:40am
Quoting Gumrai
{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 wicks
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 meaning
is 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 the basis of the Engulfing Candle meaning Break Out from some mini Range.
Thus +48 Pips and +18 Pips on quick Entry and conscious Close at Profit.

All together 4 Trades today, 2 morning, two afternoon.
+121.6 Pips
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdm5.png Size: 65 KB
Trade the facts, not opinions.
  • #309
  • May 23, 2013 4:13pm May 23, 2013 4:13pm
Quoting Dadas
{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...
I did not pick one out of hundreds. That was early in your thread and possibly the very first chart that you labelled a candle as engulfing.
You may well have posted hundreds of examples after that time, but as they did not exist when I made the post, I was unable to pick and choose from them. I cannot see into the future.
It was not a case of " pick one that does not exactly fit the definition " Your example candle met none of the criteria to be considered an engulfing candle/bar.
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.
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  • #310
  • May 24, 2013 12:48pm May 24, 2013 12:48pm
Quoting Gumrai
...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.
It was partly to you, partly in the hope RJ would read it.
I am not PMing RJ, because he strongly abused me!
Not only on my thread, so you may not have read!


What RJ so strongly critisised was no different than what you are showing.


I know what an Engulfing Candle looks like by both definitions.
I am not critisising your example!

Let's end this issue, here!
Trade the facts, not opinions.
  • #311
  • May 28, 2013 8:41am May 28, 2013 8:41am
Gold M15
What I am seeing is a period of ranging, there was a break-out below the range earlier that proved to be a fakey.
Now we have had a break-out of the top of the range with a strong bullish candle followed by a weak bullish candle with a long upper shadow. This could be a double fakey and can lead to a strong move down.
Little but dodgy and will move stop to BE if it goes into profit a reasonable amount.
I feel it is worth it because R:R is quite good
Attached Image (click to enlarge)
Click to Enlarge Name: gold m15.gif Size: 16 KB
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  • #312
  • Last Post: May 28, 2013 9:05am May 28, 2013 9:05am
I've been watching the GOLD to EURUSD relation.
It seems like the EU is at some important H4 Resistance which it must break in order to go Bulls.
GOLD is following.
EU can't break this Resistance, and GOLD is stuck on Support.
EU Bulls made this attempt and bounced of the ceiling of the H4 Resistance Zone.
Generally, EU is in ca. 40 Pip Range.
And GOLD is mimicking EU.
Trade the facts, not opinions.
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