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Power of Two System

  • #521
  • Jul 17, 2023 2:27am Jul 17, 2023 2:27am
Hey guys, I have never been much involved with forex factory community. Today I was just going thorugh the TDI thread( the one with the most replies on "Trading Systems") when I came across this one.
Just recently I got the course of Evolution Market which explains the "Power of Two" strategy. I have the link if someone wants I can share it(payment being 1% share on Tesla, LOL).
I'm not too sure about the rules and reguations here and more so if I am allowed to share it or not. So if it is allowed I can share it.
  • #522
  • Jul 17, 2023 2:27am Jul 17, 2023 2:27am
Quoting HazHazHaz
{quote} The GU on the broker I'm using is FT. Just entered a pro-trend FT trade (but the Buy is right at the Fibo 50 level lol). {image} {image}
Yours sbould look similair to mine mate.

That little fractal low is internal, so the range from the previous week is still in play.
  • #523
  • Jul 17, 2023 3:00am Jul 17, 2023 3:00am
Quoting Paulscaff1
{quote} Yours sbould look similair to mine mate. That little fractal low is internal, so the range from the previous week is still in play.
My fractal low comes before my fractal high. While yours is the other way round from the chart you ss.
Different brokers are different, I guess.. hmm.
  • #524
  • Jul 17, 2023 3:13am Jul 17, 2023 3:13am
Quoting HazHazHaz
{quote} My fractal low comes before my fractal high. While yours is the other way round from the chart you ss. Different brokers are different, I guess.. hmm.
Yeah but theres been no fractal high thats been interacted with yet mate, its just a range extension from last week.

So would look like this on TV
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  • #525
  • Jul 17, 2023 3:51am Jul 17, 2023 3:51am
Quoting Paulscaff1
{quote} Yeah but theres been no fractal high thats been interacted with yet mate, its just a range extension from last week. So would look like this on TV {image}
Sorry I don't understand, Paul. Why isn't the low of the range Candle 2 (see attached), when we have a high at Candle 1?
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  • #526
  • Jul 17, 2023 5:42am Jul 17, 2023 5:42am
Quoting Emperor007
Hey guys, I have never been much involved with forex factory community. Today I was just going thorugh the TDI thread( the one with the most replies on "Trading Systems") when I came across this one. Just recently I got the course of Evolution Market which explains the "Power of Two" strategy. I have the link if someone wants I can share it(payment being 1% share on Tesla, LOL). I'm not too sure about the rules and reguations here and more so if I am allowed to share it or not. So if it is allowed I can share it.
please do share it (if it's allowed) it will really help a community yo grow
  • #527
  • Jul 17, 2023 6:15am Jul 17, 2023 6:15am
Am I doing this right? there is a NFT in 4h looking for sells in 15m tf and waiting to sweep the recent fractal.apologies in bad grammar
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  • #528
  • Jul 17, 2023 6:33am Jul 17, 2023 6:33am
Quoting PHtrader
Am I doing this right? there is a NFT in 4h looking for sells in 15m tf and waiting to sweep the recent fractal.apologies in bad grammar {image} {image}
Yes I am waiting for the sweep too. NY KZ ends in another hour though. And you have to make sure the 3:1 setup fits in the H4 range.
  • #529
  • Jul 17, 2023 6:36am Jul 17, 2023 6:36am
Hello,

I have a GBPUSD running, and took a USDCHF loss.

EDIT: GBPUSD is a loss.

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eegaridng the current GBPUSD situation we had a similar situation in the past and the creator Scott has verified that the range would be like this.

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since the fractal low was able to create a high pricing it is considered the swing fractal.

just like EURUSD

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  • #530
  • Jul 17, 2023 6:38am Jul 17, 2023 6:38am
Updated GBPUSD 4H

Attached Image (click to enlarge)
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  • #531
  • Jul 17, 2023 6:48am Jul 17, 2023 6:48am
Quoting Outcast918
Hello, I have a GBPUSD running, and took a USDCHF loss. EDIT: GBPUSD is a loss. {image} eegaridng the current GBPUSD situation we had a similar situation in the past and the creator Scott has verified that the range would be like this. {image} since the fractal low was able to create a high pricing it is considered the swing fractal. just like EURUSD {image}
Hi,
Question is are we trading a new buy again now if the price goes over the sweep candle? (On GU)
The reason I’m asking is that we had news not so long a go?
I’m on demo so for me it doesn’t matter but good to know if we trade the news or not?
  • #532
  • Jul 17, 2023 7:27am Jul 17, 2023 7:27am
Quoting Outcast918
Hello, I have a GBPUSD running, and took a USDCHF loss. EDIT: GBPUSD is a loss. {image} eegaridng the current GBPUSD situation we had a similar situation in the past and the creator Scott has verified that the range would be like this. {image} since the fractal low was able to create a high pricing it is considered the swing fractal. just like EURUSD {image}
Did you enter GU again? There was a subsequent sweep of the setup candle that you took your trade.
  • #533
  • Jul 17, 2023 9:50am Jul 17, 2023 9:50am
Quoting nitethinker
{quote} Did you enter GU again? There was a subsequent sweep of the setup candle that you took your trade.
No mate just took the loss and moved on to be honest
  • #534
  • Jul 17, 2023 9:51am Jul 17, 2023 9:51am
Quoting El1000
{quote} Hi, Question is are we trading a new buy again now if the price goes over the sweep candle? (On GU) The reason I’m asking is that we had news not so long a go? I’m on demo so for me it doesn’t matter but good to know if we trade the news or not?

I only take 1 trade per pair a day to limit my losses for the day
  • #535
  • Jul 17, 2023 4:34pm Jul 17, 2023 4:34pm
Needed some help as I am new to this strategy
am I looking at the correct range in EU of 4H tf with the latest fractals, and I am looking for buys only as it has NFT?
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  • #536
  • Edited 5:26pm Jul 17, 2023 5:16pm | Edited 5:26pm
Hi outcast918,

This makes sense to me as the low at candle 3 was able to break the fractal high at candle 1. The candle at 3 then becomes the swing low because it was the fractal low that caused the previous fractal high to be broken (candle 2). Candle at 4 then breaks the low creating a new range as per your markup.
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If we apply the same logic to GBPUSD. The fractal high is created at candle 1, so my understanding is that the original range (from last week) holds until this fractal high is broken as per EURUSD above. Or are we saying that any fractal low that results in a higher high means that we move our range low up?
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  • #537
  • Jul 17, 2023 5:20pm Jul 17, 2023 5:20pm
I started backtesting the strategy from 2018 today. The August 2018 the strategy gave me 13 consecutive losses on EURUSD. Ended the month with -5% profit. can anyone backtest this month to confirm this?
  • #538
  • Jul 17, 2023 9:33pm Jul 17, 2023 9:33pm
Quoting HazHazHaz
{quote} I see now... so we just utilise the previous setup on H4 we have until the price interacts with the new high/ low. Got it. I thought we should only entertain the really fresh ranges once a new fractal (that creates a new range) appears. Thanks!
Yeah, as PaulScaff1 stated, you should continue taking trades within an established 4hr range as long as that range remains. So if the range is particularly large, and the price is just chopping around (i.e. not trending), you might find yourself taking trades based on a range you established weeks ago. It's only when price touches either of the 4hr range levels that you pause, go back to the 4hr TF, and reevaluate (i.e. establish new range levels, and new direction bias).
  • #539
  • Jul 17, 2023 9:58pm Jul 17, 2023 9:58pm
Quoting Bazenga
{quote} Yeah, as PaulScaff1 stated, you should continue taking trades within an established 4hr range as long as that range remains. So if the range is particularly large, and the price is just chopping around (i.e. not trending), you might find yourself taking trades based on a range you established weeks ago. It's only when price touches either of the 4hr range levels that you pause, go back to the 4hr TF, and reevaluate (i.e. establish new range levels, and new direction bias).
Yeah that is what I thought, but outcast918 is part of Evolution Markets and that's not what has been described in his last post.
  • #540
  • Jul 17, 2023 11:30pm Jul 17, 2023 11:30pm
Quoting Bazenga
{quote} It's only when price touches either of the 4hr range levels that you pause.
Hi Bazenga, what does it mean by "when price touches either of the 4hr range levels"?
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