The Engulfing Trader Pdf 17: A Review of Timon Weller's Forex Strategy

The Engulfing Trader Pdf 17: A Review of Timon Weller's Forex Strategy

If you are looking for a simple and effective way to trade the Forex market using price action, you may have heard of The Engulfing Trader Pdf 17. This is a book and video series by Timon Weller, a professional trader and blogger who shares his core strategy of trading with engulfing candles at key levels of structure.

In this review, we will take a closer look at what The Engulfing Trader Pdf 17 is, how it works, and what are the pros and cons of using this strategy.

The Engulfing Trader Pdf 17

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What is The Engulfing Trader Pdf 17?

The Engulfing Trader Pdf 17 is a digital product that consists of a PDF book and a series of videos that teach you how to trade the Forex market using engulfing candles. Engulfing candles are a type of candlestick pattern that indicate a reversal or continuation of the trend, depending on where they occur on the chart.

The PDF book covers the basics of drawing structure on the charts, identifying the candle signal at structure, taking the trade and managing your money. The videos go into more detail and show you examples of how to apply the strategy in different time frames and market conditions.

The strategy is based on the principle that the market moves in waves and respects certain levels of support and resistance. By trading with engulfing candles at these levels, you can capture high probability trades with a good risk-reward ratio.

How does The Engulfing Trader Pdf 17 work?

The Engulfing Trader Pdf 17 works by following these steps:

• Draw structure on the daily chart, using horizontal lines to mark the major and minor levels of support and resistance.

• Switch to a lower time frame, such as the 4-hour or 1-hour chart, and look for engulfing candles that form at or near the structure levels.

• Enter the trade in the direction of the engulfing candle, placing your stop loss below or above the candle (depending on whether it is bullish or bearish).

• Set your target at the next level of structure or use a trailing stop to lock in profits.

• Manage your risk by using a fixed percentage of your account per trade or a position sizing calculator.

The strategy can be used on any currency pair, but Timon Weller recommends focusing on the major pairs for better liquidity and lower spreads. He also advises trading during the London and New York sessions, when the market is more active and volatile.

What are the pros and cons of The Engulfing Trader Pdf 17?

Some of the pros of The Engulfing Trader Pdf 17 are:

• It is a simple and easy to follow strategy that does not require any indicators or complex analysis.

• It is based on price action, which reflects the psychology and sentiment of the market participants.

• It has been tested and proven to work in various markets and conditions over ten years.

• It offers a good balance between accuracy and frequency of trades.

• It comes with a 60-day money back guarantee if you are not satisfied with the product.

Some of the cons of The Engulfing Trader Pdf 17 are:

• It requires patience and discipline to wait for the right setups and follow the rules.

• It may not work well in very choppy or ranging markets, where engulfing candles can be false signals.

• It may not suit traders who prefer more dynamic or aggressive styles of trading.

• It may not be compatible with some trading platforms or devices that do not support PDF or video formats.

Conclusion

The Engulfing Trader Pdf 17 is a solid Forex strategy that teaches you how to trade with engulfing candles at key levels of structure. It is suitable for traders who like to keep things simple and trade with price action. It has been shown to work well in most markets and conditions, but it may not suit everyone's preferences or goals. If you are interested in learning more about 0efd9a6b88

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