I’ve been testing a few candlestick setups for intraday trades, and I’m not sure if engulfing candles work well in lower timeframes like M15 or M5. Sometimes they seem promising, but often there’s a lot of noise. Do you guys use the engulfing candle pattern for quick entries, or is it better suited for longer-term setups?
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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!
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