To FXCaribbean :
Oh no!
You have got it completely wrong!!
This is a result of having read thro my thread
too quickly.
You will have to read it again more slowly and more carefully.
The 5 minute chart you have posted is a beautiful chart.
And the Bollinger bands, Keltner bands and MACD are all exactly correct.
Your interpretation of the vectors of "level" and "down" is correct.
But thats where it ends.
The engulfing pattern, like all the other patterns are found, seen and read on the
main chart.
They are
not found on the 5 minute chart.
The 5 minute chart is only an
aid to
getting a better entry on the
main chart.
The main chart can be from 20 minutes to 1 hour timeframes.
Only the Bollinger bands exist on the main charts.
I trade the 4 majors and 2 other pairs.
To cover all the timeframes (20,25,30,35........1 hour), I have 48 charts on my platform.
The 5 minute KC charts are further extras.
When you have found a
pattern on the main chart, and you are ready to enter, then you switch to a 5 minute KC chart to get the best entry.
In doing so, you take those 2 vectors that you drew on your chart and find the
resultant.
This resultant will point to one of the Keltner bands where you can expect to find the best entry.
When all that is completed, you can then toggle back to the main chart.
At this point it is most important that you stop trading.
Read my thread again from the beginning.
Do not rush it or you will go completely wrong.
Study carefully the entry method and note carefully when we are dealing with a
main chart and when we are dealing with a
5 minute chart.
This is something that you must grasp correctly because we also toggle to a 5 minute chart with
starc bands on it to find retraces.
You will also have to do a lot of work loading charts on your GFT platform.
Re-study the thread first, then post back and ask further questions as the need arises.
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