I just bought the bullish engulfing
Sorry mate but thatâs not an engulfing candle it must completely engulf the previous candle, wicks and all.
The real black body is engulfing by white body in support zone
The black wick on your chart is longer than the White one. The white candle must be bigger than the black lower low and higher high if that makes sense. Your white candle has a lower low but a lower high not higher high. Hope that helps mate.
I got stop out of this trade, also. The issue is very important news of the Swiss National Bank withdrew its policy regarding the 1.20 EURCHF price floor. it mades czary move on all CHF pairs, some over 2000 pips. but luckly, i got 1 counter trend trade on CH F pair on the right side with +1500 pips.
Hi Sirkay,
This is not BUEF for the candle doesnot engulfe the whole previous candle. the bullish pressure is not strong enough to pass previous high. but the signal is still valid,just not the A+ one, looks like â3â bars reveral.
Congratulations on 1500 pips Yumei! Excellent work. Glad you were on the right side of the drop.
Hello Sirkay. The others are right. Not quite an engulfing candle by this threads rules, but if i blend those bars together, we have a big bullish PB, so trade may well go north. Also, we use pending orders a few pips above bar to enter, not at market so that we are hopefully entered with some momentum. The rules are on page 1. Have a read, youâll love it.
All the best. G
Iâve got a sell on with aus nzd. Pin bar from week close and pb start of today so thought two pins must be good lol.
Sorry and on the 4hr chart. Two pins next to each other.
Looks bearish Scotty, but i donât know if those pin bars are screaming out to me âtrade meâ!? Big BEEB nearby though which contributes confluence. Iâm also concerned you look to be trading into a fair bit of traffic including a weekly and monthly support zone and lows? I assume youâre trade has triggered. May well work out. All the best. G
Nice thread
I got stopped out on my aus/nzd. Oh well.
That will happen from to time to time, is part of trading Scottyspips you will do fine.
Bad luck Scotty. Your trade made some sense to me and i could see your reasons for taking it. Iâm trying to understand why it went north instead. If i look at the recent momentum/trend on the 4H it is up, even though the long term trend has been down. I also wonder if the recent highs made by those 2 huge bars a few candles back on 4H meant that price wanted to go back to that level at least? Any thoughts?
Thereâs always another trade. G
I will wait for a retrace and if PA is good, go long.
There are many problems with that pin bar at first sight
- it is actually an inside bar for the big bearish bar a few candles before, actually all bars are
- donât forget to look at the left of your chart before trading, a lot of traffic ideally you would want to trade into space
in conclusion, even if everything checks, you could always be stopped out.
Took this BEEB on 1H yesterday - Demo (Wouldâve preferred 4H beeb as more reliable time frame). This brokers oil/CFDâs are closed at the moment for some reason, so my trade has frozen midway! i.e. price has fallen lower than below chart shows. Anyway, oil price as i write is 47.54 so nice profit so far. Target 46.60. canât do much with the trade as oil is offline for this broker for now. G
gforce1 one of the golden rules of FSO is that the PA should be STICKING out, I am not saying this wonât work I am just telling you that, if you want to follow FSO rules, this is not a trade that fits
Cheers
Thanks Eternal. I appreciate your input. Yep, there are plenty of pairs to choose from and better PA to be had, so i need to wait for them. G
Letâs see some folks posting charts. There seems to be a lot of talk, but no trading or discussion of potential set ups.
It would be great to see some people posting live trades and discussing them, demo or otherwise. If there are no set ups, there are always potential ones around the corner. e.g. Price is hovering around KHL on a few pairs right now.
Letâs see some live trades.
Good trading, G.
I am hoping to post more G!, just getting used to this methodology and am getting all the pairs that Mr Fox follows set up with their appropriate S&R levelsâŚI have to trade around a day job and am also starting to change my routine at home so I can investigate the daily close and the close of the 2am 4hr candle at 6am (I dont have NY close charts set up yet and still using my FXCM charts)âŚso to get my charts checked, and maintain my day job does make posting on here a little toughâŚbut I want to and will aim too (and very much appreciate all those forum members that do post)
Cheers, James