MTF Engulf / Engulf fail (MTF Engulf / Engulf fail) - MT4/MT5 resources
- I use engulfing 2 candles as shown in picture 1 at the bottom.
- Engulfing does not only apply to 2 candles, it can be a variation of multiple candles, as shown in picture 2 at the bottom.
For example. The same 2 candles engulfed in d1 appear as multiple candles in h4.
- Engulfment becomes engulfment failure like a structural break as shown in Figure 3 at the bottom.
Some videos may no longer be available due to copyright issues.
It’s been a few years and I don’t remember what those videos were.
The videos I found most helpful were from egsolutionsfx and king zulfan.
Search these 2 names from youtube or internet.
Get the general concept of these two videos .
The formula is this :
1. Market opening
2. Key level (the convergence of HTF direction and trade control)
3. Enter mode ef/eg and retest
rule
Set 3 timeframe alignments in the same direction
(1) HTF direction setting (W1, D1, H4 swallow/fail to swallow)
Concept: Devour/devour failure flows to next devour/devour failure
https://www.forexfactory.com/thread/...7#post14608247
https://www.forexfactory.com/thread/...9#post14608979
https://www.forexfactory.com/thread/...3#post14610713
(2) Trade control (H1, M30, M15 engulfment/engulfment failure)
also act as roadblocks
When price pulls back/returns to the htf h4 engulfing zone (lowest directional time frame) .
Scroll down to h1 or m30 or m15 and find the trade control engulf/engulf failure setting at current market prices or historically behind (riskier).
Or
Take trade control engulf/trade entry setup when engulf fails at the current market price as long as you are happy with your stop loss.
Enter the retest engulf/engulf failed trade entry zone.
Stop Loss - The closing price of the candle is outside the trade entry eg/ef area.
Take Profit - One or two opposite engulfs or support/resistance.
(3) Confirm to enter the current market price at (M15, M5 to M1 engulfment/engulfment failure )
When prices withdraw/restore trade controls engulf/engulf failure zone
Scroll down to m15, m5 to m1 and find the Engulf/Engulf Fail Trade Entry set up in CMP.
Enter the retest engulf/engulf failure settings area.
Stop Loss - The closing price of the candle is outside the trade entry eg/ef area.
Take Profit - One (htf) or two (ltf) relative engulfs or support/resistance.
The ideal trade entry setup would be a combination that engulfs the failure first and then pulls back to the engulfing.
A lot depends on whether the trader himself has the discipline and patience to wait.
(4) The importance of market opening
Trade at the right price level and at the right time.
https://www.forexfactory.com/thread/...5#post14930745
“We are what we repeatedly do. Excellence, then, is not an act but a habit.” —Aristotle
“Success is nothing more than practicing a few simple rules every day.” — Jim Rohn
- Engulfing does not only apply to 2 candles, it can be a variation of multiple candles, as shown in picture 2 at the bottom.
For example. The same 2 candles engulfed in d1 appear as multiple candles in h4.
- Engulfment becomes engulfment failure like a structural break as shown in Figure 3 at the bottom.
Some videos may no longer be available due to copyright issues.
It’s been a few years and I don’t remember what those videos were.
The videos I found most helpful were from egsolutionsfx and king zulfan.
Search these 2 names from youtube or internet.
Get the general concept of these two videos .
Insert video
Insert video
The formula is this :
1. Market opening
2. Key level (the convergence of HTF direction and trade control)
3. Enter mode ef/eg and retest
rule
Set 3 timeframe alignments in the same direction
(1) HTF direction setting (W1, D1, H4 swallow/fail to swallow)
Insert video
Concept: Devour/devour failure flows to next devour/devour failure
https://www.forexfactory.com/thread/...7#post14608247
https://www.forexfactory.com/thread/...9#post14608979
https://www.forexfactory.com/thread/...3#post14610713
(2) Trade control (H1, M30, M15 engulfment/engulfment failure)
also act as roadblocks
When price pulls back/returns to the htf h4 engulfing zone (lowest directional time frame) .
Scroll down to h1 or m30 or m15 and find the trade control engulf/engulf failure setting at current market prices or historically behind (riskier).
Or
Take trade control engulf/trade entry setup when engulf fails at the current market price as long as you are happy with your stop loss.
Enter the retest engulf/engulf failed trade entry zone.
Stop Loss - The closing price of the candle is outside the trade entry eg/ef area.
Take Profit - One or two opposite engulfs or support/resistance.
(3) Confirm to enter the current market price at (M15, M5 to M1 engulfment/engulfment failure )
When prices withdraw/restore trade controls engulf/engulf failure zone
Scroll down to m15, m5 to m1 and find the Engulf/Engulf Fail Trade Entry set up in CMP.
Enter the retest engulf/engulf failure settings area.
Stop Loss - The closing price of the candle is outside the trade entry eg/ef area.
Take Profit - One (htf) or two (ltf) relative engulfs or support/resistance.
The ideal trade entry setup would be a combination that engulfs the failure first and then pulls back to the engulfing.
A lot depends on whether the trader himself has the discipline and patience to wait.
(4) The importance of market opening
Trade at the right price level and at the right time.
https://www.forexfactory.com/thread/...5#post14930745
Insert video
“We are what we repeatedly do. Excellence, then, is not an act but a habit.” —Aristotle
“Success is nothing more than practicing a few simple rules every day.” — Jim Rohn
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