Considering going long on this one. What are your thoughts? I’d want to wait for the bar to close first.
That doesn’t look like an engulfing bar to me sorry mate.
Hi Danger,
I’m actually short that pair from the BEEB that it fired off last week. Be careful; the candle your referring to (today’s) for a long signal would have to fall all the way below it’s low and shoot back up to where it is now to be a valid engulfing bar. It doesn’t fully engulf yesterdays candle (Specifically the low) as it is right now. Good luck!
First take profit on gbp/usd hit. Now moved to break even and let the profit go down for second position.
Same here. Good luck all who are in this one.
Hey traders! it’s been a long while since I posted in here. I hope the markets have been easy on everyone :18:
I’m keenly waiting to see what kind of PA forms on the EURNZD chart.
Good morning guys. I would simply like to stop by and say that I am a price action trader which simply uses MA lines to identify breakouts, but enters prior to the breakouts using engulfing patters.
Please look at the attachement and identify the red candle which is pointing downward.
That candle was my trigger to look for a sell. Typically i ENTER a very small lot size once I have a trigger.
You then see on the next candle, although it closed as a bull, I entered a short… Why was that? Well because that candle while it was open attempted to ENGULF the trigger candle (the trigger candle is the red candle with the arrow pointing downward). You can then see that the engulf to the upside never occurred even after 30 mins of faking to the upside.
I took about 14% profit on that trade (using a lot of leverage of course) yet if you look back to your chart on thatday, you will see that my entry was picture perfect for a drop which would of been for 30+ pips.
How about focusing on accuracy, while using engulf methods.
Hallo Cholipop!
If you took the time to read the rules of the Price Action system we trade here you would have picked out on the fact that one of the rules we use to trade this system is that we don’t use any indicators whatsoever. Please make time to read the rules before posting.
I did notice that, but based on the information which i have presented, I TAKE my entries are based on engulfs or attempted engulfs.
Here is the same formation which I showed yesterday from AUD/USD but taken on EU after the lows rebound. You can see the low of the candle which i entered in was never engulfed, and the price ran all the way to where it is now which is a daily pivot.
How’s it going cholipop. Your charts are very hard to look at sorry mate. Also I don’t know where you entered your trade and why you did it for. And you seem to be on the 5min time frame which is a bit crazy too but if it works for you than sweet as. Here’s one of my last charts so you can see what I mean by your charts are hard to read.
Good luck Matko. Wait for confirmation. 
EUR/USD H4 PB off resistance with trend. Also large reversal bar on D1 off S/R level as confirmation. Moved stop to lock in some profit. These sorts of trades with the trend and big obvious signals are the ones worth waiting for. Trend, Level, Signal. TP 1.000.
Hey Gforce,
You need to watch out for these inverted pins forming at the wrong swing because they will be detrimental to your account. Remember, pin bars should never be played as continuation signals and ONLY when they have formed at the correct swing with space or at the high/low of a defined range.
Best,
Joey
It’s moving in your favour, where’s your take profit?
Take profit at 2.08300
Above I have attached my only AUD/JPY trade which resulted in 4% account profit.
Using the same engulfing patterns which I spoke about before, I was able to wait out the choppy movement during the 5m candle, and enter when the trade really matters, and that is once the 5m candle has closed.
Although we have many ways to focus on price action trading, the reality is that price action trading should be the product of accurate entries. Within 5 mins of trading in the 5min candle you should know if your position was a good one or not.
Just curious, how did you get to that number? I’m pretty new.