I use this setup for full margin once in a week. Great thread
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Disliked{quote} Please correct me, if I got it wrong. 1. We are using engulfs across 3 TFs. 2. The Higher TF engulf is for the Directional flow. 3. The Mid TF engulf is for the Setup. 4. The Lower TF engulf is for the Entry. 5. TP will be the most recent opposite engulf in the SETUP TF (MID TF). Also, what are the criteria to choose the TFs?Ignored
DislikedThis is an old trading concept. The pattern is called engulfing whipsaw. I think it was Redsword who introduced it first. https://www.forexfactory.com/thread/...-is-everythingIgnored
Dislikedmaybe something will happen. but it's a big range. note that there is a gbp pmi announcement. {image}Ignored
Disliked{quote} now price is inside h4 engulf. and almost at the set up. if one wants to, still can further drill down to m15, m5 or m1 like stevepatt. {image}Ignored
Disliked{quote} buy already triggered by m30 engulf set up. h4 support flow. 2 opposite engulf tp. {image}Ignored
Disliked{quote} may there is a mixed up of terms used. set up tf can also be trigger tf. if you use 2 charts, ultimately wait for retest of the smaller tf engulf.Ignored
Please provide feedback.
Disliked{quote} So, basically.... Pick an HTF, at least H4 Spot the most recent engulf ( that's our direction) Now pick an LTF, preferably m30. Spot engulf in LFT in line with the HTF engulf Wait for the retest in LTF TP is the most recent opposite engulf in LTF. Only trade the LTF engulf retest that is in line with the HTF engulf. Please provide feedback.Ignored
Disliked{quote} yes. now if you find m30 engulf is 50 pips SL. you don't like right? either use your maximum SL or you have another choice when price retrace back to m30 engulf (because you don't like the SL), switch to ltf m15 or m5 and spot engulf. wait for retest of engulf. surely the SL here is smaller than m30 SL right? when switching to m15 or m5, the whole process is repeatable as in m30 engulf.Ignored
Disliked{quote} Got it. Now, I will put it into practice from Monday onwards. Thank you. Also, What do you consider to become a failed engulf, a wick or close?Ignored