Do you use engulfing candle patterns on intraday trades
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?
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.
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!