can you post an example of what you mean by levels getting engulfed.
the best way ive found is to simple wait for a failed low and a higher high to form and just enter on the pullback, when the failed low fails to hold, i look to get out.
that way or I just look at the depth of market.
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adaseb wrote:can you post an example of what you mean by levels getting engulfed.
the best way ive found is to simple wait for a failed low and a higher high to form and just enter on the pullback, when the failed low fails to hold, i look to get out.
that way or I just look at the depth of market.
When levels get engulfed and opposing levels get respected simultaneously, HLs or LHs are made.
ajaymein wrote:adaseb wrote:can you post an example of what you mean by levels getting engulfed.
the best way ive found is to simple wait for a failed low and a higher high to form and just enter on the pullback, when the failed low fails to hold, i look to get out.
that way or I just look at the depth of market.
When levels get engulfed and opposing levels get respected simultaneously, HLs or LHs are made.
yes but when a level gets engulfed price has already moved away from that area and you'd have to use a larger stop loss to take the trade.
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And of course, minor retest of previous supply and price taking off from it.
Now that hourly and 15M have closed, I can transition trade to higher time frame and set stop at BE knowing that if price gets back to my entry, it would have made a lower low off previous 15m bar and could change direction.
Now that hourly and 15M have closed, I can transition trade to higher time frame and set stop at BE knowing that if price gets back to my entry, it would have made a lower low off previous 15m bar and could change direction.
adaseb wrote:ajaymein wrote:adaseb wrote:can you post an example of what you mean by levels getting engulfed.
the best way ive found is to simple wait for a failed low and a higher high to form and just enter on the pullback, when the failed low fails to hold, i look to get out.
that way or I just look at the depth of market.
When levels get engulfed and opposing levels get respected simultaneously, HLs or LHs are made.
yes but when a level gets engulfed price has already moved away from that area and you'd have to use a larger stop loss to take the trade.
Yes, but in most cases you can within a couple of minutes find a spot to tighten and tuck your stop under. Many times, a safe BE is only a few minutes away...but some people don't move to BE so I guess it depends on your trading style.
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