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RE: Do you use engulfing candle patterns on intraday trades

in #trading2 months ago

I’ve actually had decent success using the engulfing candle on the 15-minute chart, especially around session opens. But I never take them alone — always wait for price to react at a key level or pivot, then see if the engulfing confirms that zone. For example, in EUR/USD, if London opens near yesterday’s low and then forms a strong engulfing candle, I’ll enter with a small SL under the wick. But it’s risky — volume confirmation helps a ton, and I always look for trend alignment on the higher timeframe (like 1H). Otherwise, it’s easy to get faked out by random spikes.

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That’s really helpful. I’ll start watching for it around session opens and combine with levels. I’ve been missing the higher timeframe confluence — that tip alone is gold. Thanks!