Complete Trading Strategy With The Engulfing Pattern | Learn To Trade Price Action
In this video, I show you a complete trading strategy I have been using to trade price action – more specifically the Engulfing candlestick pattern.
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Disclaimer: This video expresses my personal opinion only. Make sure you are ready to trade. Even this will not guarantee you positive results. I am not responsible for any losses incurred due to your trading or anything else. I do not recommend any specific trade.
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You should add some other support/resistance lines as time goes by. You
missed many engulfing signals at new critical levels after the ones you
identified.
Thanks for watching! I noticed I missed a few but I only trade the major S/Rs (2+ touches). Appreciate the feedback though.
I agree there were two good traits that were missed that I saw because you didn’t add support and resistance lines as you went along
nice video
Good video 👍
Ade Abasanji Thank you! Really appreciate the feedback!
Very good, however please speak slower and more clearly.
Thanks for watching, Mark! That was one of my early videos. Hope I improved since then 🙂 even though that’s still my #1 challenge. Appreciate your feedback!
Etienne good video mate but why is the candlestick at 8:04 a perfect bearish engulfing candle? It has a huge wick the body is a lot smaller than the previous 5 candles. Or is it that the range of the candle has to be bigger than the previous 5 candles??
Hi Charles, I’m usually looking at the range of the candlestick. It’s about the same as the biggest of the past 5 candlesticks. That’s alright.
Having a wick above the candlestick (for a bearish candle) is actually a good sign. It means the buyers pushed but were brought down by the sellers.
Hope that helps!
Always great to see other strategies, great video!
Thanks Ben! Much appreciated!
Excellent Sir. Perfect candlestick pattern. Sir how many years u took to perfect forex mkt.?
I’ll answer that in a following video, Miraj! Thanks!
Thanks Etienne
My pleasure!
Thank You!
My pleasure!
Many thanks Etienne, please – what do you do if you are in a trade and a signal in the opposite direction is given (engulfing after BB touch)? do you exit or do you stay until SL / TP?
I usually don’t modify my existing trade as it depends on the Support and Resistance areas.
exactly this is what I meant – an opposite signal on a S/R level, before price reached the SL / TP level?
No but I’ve been testing that recently.
good work, thank you for the explanation
It’s my pleasure!
I like the one at 12600 best
Thanks for the comment 🙂
What timeframe chart do you recommend? Can I use this for futures?
I’m currently trading the 4hr and 1hr charts. I’ve not tested futures but I encourage you to do so 🙂
The trade taken at 8:11 should have been exited with minor profits/breakeven when the market was going sideways for long. Also it was showing clear signs of breakout, so why let the SL get hit?
Your videos have been extremely helpful. Thank you! Two noob questions: Did you identify support/resistance lines from the existing time frame (rather than higher time frames) just to simplify the example? 2) At ~4:12, is the “gap” you refer to the distance from the resistance line and the engulfing bar? Is that why it was not an ideal setup?
1) I always look for zones on a higher timeframe than the one I trade.
2) The gap is because price opened lower than it previously closed.
Some brokers will show that gap as a candlestick but in my view it’s different.
@Etienne Crete – Desire To TRADE Thank you so much for your reply. I can only imagine how busy you are! Cheers and thanks for the great content.
This remind to Oliver Vélez thing hahaha I also do like this the checklist is nice detail and S/R is vital more in forex.