Friday, June 19, 2009

06/19 Bearish Engulfing bonanza

Today was a lot better for me! I stayed out of several trades that would crush me like a bug in the windshield like Wally says. I took a trade that looked good but didn't work, and took one that worked fine.

I missed by a few minutes the set-up of two great bearish engulfing patterns that the team observed in the trading room, see the video bellow:


After those two trades we still observed several engulfing candle patterns, the team had already taken 2 winning trades when I entered the room but there were several more. The ones I observed were more aggressive than the earlier ones, but they all worked.


  1. hey Gustavo,

    what do you mean by 1:1 target?

  2. Hi there, basically it means, if you set your stop at the candle's high/low the 1:1 target is the point where you make the same ammount of profits as you risked with the stop.

    Say you have a 10 pip bullish engulfing candle, you enter at the close and place your stop at the candle's low. The 1:1 ratio would be met when you make 10 pips profit.