Engulfing + Pinbar Candlestick Trading Strategy ...

GBPUSD Shaping Up for Good Sell (But not quite yet)

GBPUSD Shaping Up for Good Sell (But not quite yet)
We have reached a deep point in the retrace of the GBPUSD move, and hit an area that tends to be somewhere people lose money.

We are now trading at the 50% fib, and forming some short term reversal looking patterns here. It might reverse, but it's more likely it will stall at the 50%, make a false sell off and then spike out these early sellers and then reverse from the 61.8%.

Imgur https://imgur.com/a/rKgqjnf

I explained this 50% - 61.8% spike out trap in this post https://www.reddit.com/Forex/comments/cko0d1/shorting_noobs_tweaks_improvements_and_parabolic/ (and others in that series in more detail)

A forecast of this specific GBPUSD move to this point was made in this post, as well as explaining in a lot more detail how we can see this is a likely scenario before it happens based on commonalities in moves that have formed like this after a trending move. https://www.reddit.com/Forex/comments/ctifde/forecasting_the_end_of_major_corrections_and/

Forecast pic


This is a good time for us to do two things.

1 - Set small pending orders on the level, just in case it pings it and then crashes quickly.

2 - Set alerts on this level so we are told when price meets there. Then we can use price action confirmation strategies to enter into moves with less chance of being whipsawed (because, remember, this level usually spikes us out if we are arbitrary in it's use. No easy meals in the market. It'll shake you out if it can.

We are looking for classic things. Double tops. Pin bars. Engulfing candles. 1 tick trap spike outs. All of these sorts of things on 15 min and 5 min charts on this level give us a 10 pips stop (20 if you want space) and we have at least 30 pips to the low (target one). If we are to continue trending we should see the next fall dropping at least 50 pips from the entry. Good trade. 1.1986 is the area we have the first big risk of a retracement, this seems like a good target area.

From there, if we bounce a little, we can scalp for a slightly lower low around 1.1820. Then we stop selling. This is a strong risk of a bounce against us area. This is probably where I look for buys on the GBPUSD.

Remember the price action should look strongly bullish as it meets the 61.8 and possibly spikes it out a little bit. It is a horrible place to buy. Prepare, and do not panic. That's the only real secret to profiting in the market, IMO.
submitted by whatthefx to Forex [link] [comments]

Price Action Series of Threads #0 - Topic Suggestions

Okay guys. According to the poll we did here there's demand for a series of threads about various PA topics. In these threads we can share how our thoughts, ask each other questions, show trade examples, share must-read threads/articles, etc. I'm thinking we could cover one topic each Sunday.
So this is where I turn to you, /Forex. What are some topics we should cover?
I'll add to this list as you guys suggest and upvote topics:
submitted by jugglingguitars to Forex [link] [comments]

engulfing and pinbar setup in forex FOREX TRADING: ENGULFING CANDLE STRATEGY - YouTube How to trade? High Probability Forex Engulfing Candle ... Download this free Pin-bar Finder and Alert indicator ... Best Engulfing Bar Settings For Trend / Counter Trend Forex Traders Svíčkové formace pro začínající obchodníky. Pin bar a ... Basic Candle Stick Structure and Patterns - Pin Bar, Harami, Tsutsumi, Engulfing Mastering Pin Bar, Doji, and Engulfing candlestick ... FOREX TRADING STRATEGIES - The engulfing bar price action setup guide. Trading the Forex Engulfing Bar - Forex Price Action

MT4 / MT5 Pin Bar and Engulfing Bar price action indicators can lead to far quicker trade detection times and help you make sure you don't miss any trades. Skip to content. Toggle navigation. Price Action Trading Guide; Trading Strategy Guides ; MT4 & MT5 Indicators; Reviews; Free Forex Trading Signals; Free Pinbar & Engulfing Bar Indicator for MT4 / MT5. There are a wide variety of indicators ... Download Engulfing Bar indicator for MT4. Engulfing Pattern Definition, Engulfing-Candlestick Pattern meaning. What Is “Engulfing Candlestick Pattern” in Forex? The engulfing candlestick patterns, bullish or bearish are one of the easiest of candlestick reversal patterns to identify. Because these candlestick patterns are two-candlestick patterns, they are more valid and are often looked ... Many traders will know the pin bar, which means that you’re looking at a candlestick with a very long wick. But we can combine those two candlesticks to generate a more powerful and more robust trading approach. So, we are looking for pinbar-engulfing bars. And you can see here in this example we have a pin bar here, we have a pin bar here ... Buy or sell trading signals in Engulfing Candle MT4 this forex indicator are very easy to understand Just follow simple step. ... We word that right after the bullish engulfing candlestick sample, it become accompanied with the aid of a strong pin bar and ultimately prices commenced to push higher. Within the identical chart, hanging man candlestick we can also be aware how the down trend ... PinBar Engulfing Bar Alert Trading System: Looking for the pinbar/engulfing bar below/above 200 MA(period 200, shift; 0, simple, close) and price trendlines for entry. Set the pinbar and engulfing bar indicator's alert to false. Settings pinbar indicator: custommaxnosebody: 0.8 customnosebody: 0. The outside bar and engulfing bar are the same formation, just same traders use different names. When played from the right areas and with the knowledge of how to be used correctly the engulfing bar is extremely useful price action tool to have in the trader’s armory. The acronyms for bearish and bullish engulfing bar are BEEB and BUEB. And the engulfing pin bar often when it happens at such a level is also giving you the signal of a bad trap or boiled trap and just in general squeezed signals. You can see the market moves into the area, takes out the stops, shoots into the other side and really closes with a very weak close. And this is the daily chart and you could also use this for multi time frame approach. Once I’ve ...

[index] [16994] [19970] [26099] [12600] [13098] [9365] [13571] [2393] [28799] [18296]

engulfing and pinbar setup in forex

Engulfing bar strategy/Forex trading. For more information about learning how to trade the Forex markets with price action head over to http://www.dontletthe... Svíčkové formace Pin bar a Engulfing strategie pro začínající obchodníky. Základy tradingu a obchodování na burze. Spread Webinář: https://www.tradesmart.c... #forex #forexlifestyle #forextrader Want to join the A1 Trading Team? See trades taken by our top trading analysts, join our live trading chatroom, and acces... engulfing and pinbar setup in forex Fatih Wafie. Loading... Unsubscribe from Fatih Wafie? ... Pin Bar Trading Strategy with HUGE returns. Tutorial. Live Trade (2017) - Duration: 6:24. Price Action ... How to trade? High Probability Forex Engulfing Candle Trading Strategy For a bearish example of an engulfing candle pattern: The A bar is a bullish bar (bar ... Basic Candle Stick Structure and Patterns - Pin Bar, Harami, Tsutsumi, Engulfing Japanese Forex Trader Kei. Loading... Unsubscribe from Japanese Forex Trader Kei? Cancel Unsubscribe. Working ... Trading the Forex Engulfing Bar - Forex Price Action Forex School Online. Loading... Unsubscribe from Forex School Online? Cancel Unsubscribe. Working... Subscribe Subscribed Unsubscribe 5.2K ... After 2nd Live / Over 1000 Subscribers! Come and join the Thank-You livestream! : https://youtu.be/nfwZjACWFKw Join my Ichimoku Community and master Ichimo... Find the best trend trade and counter trend forex signals with fully customisable pin bar, engulfing and marubozu settings. Inside bar and Doji signals will show regardless of trend as these are ... This is one of the most popular immediate download Free Forex trading tools. Nial Fuller turned Pin bar trading into an art and this MT4 Indicator will help ...