2b pattern | Page 3 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Price pattern scanner where I choose the pattern 4 replies

automatic chart pattern drawers for MT4? 36 replies

Price action pattern, and random thoughts 6 replies

Momentum price pattern indicator 0 replies

Pattern programs 1 reply

Attachments: 2b pattern
Exit Attachments

2b pattern

  • #41
  • Oct 20, 2010 7:51pm Oct 20, 2010 7:51pm
Hi DeltaTrade,

The methodology looks very good. One thing that is not always clear to me on your charts is what 2 price points you are looking at to determine the divergence. Can you show a few more charts and point out in detail which double tops or bottoms you are actually considering when looking for divergence. I think this would be very helpful to those of us who don't typically trade divergence.
  • #42
  • Oct 21, 2010 3:19am Oct 21, 2010 3:19am
it's quite simple. you're connecting the the 2 tops/bottoms on the chart and also the 2 points on the macd points which correspond with the 2 tops. if you like the pattern i recomend that you backtest on every instrument that you can find so that you know what to expect in the real market. that's what i did. i came up with the ideas about entries and exits while i was backtesting. maybe some of you can find better exits.
Attached Image (click to enlarge)
Click to Enlarge Name: 991.GIF Size: 22 KB
  • #43
  • Oct 21, 2010 7:50am Oct 21, 2010 7:50am
It's indeed one of the most effective methodology and well-work trading sysytem that apply on the market at all time. I have almost tried all types of systems but found that trading is a Dynamical Art that everyone should learn and acquire.

I have been trading using this way with adding chart support & resistance levels and candlsticks pattern.

Good luck everyone.

BK
  • #44
  • Oct 21, 2010 8:00am Oct 21, 2010 8:00am
I have been using 2B reversals on every timeframe as part of my tradng strategy for years. They work well with divergence.

I absolutely love them.
Attached Image (click to enlarge)
Click to Enlarge Name: eu20th.gif Size: 28 KB
  • #45
  • Oct 21, 2010 8:31am Oct 21, 2010 8:31am
jag1966 and bkoori. thanks for you're comments. i did not know that other people use this pattern because this is the first thread about this. i'm glad you are successful. it's good to be around people who made it. i started this thread because i wanted to give back something to this forum especially to james16.

delta
  • #46
  • Oct 21, 2010 9:15am Oct 21, 2010 9:15am
Thank you for a new but a simple concept. Wil be watching with interest.
  • #47
  • Oct 21, 2010 9:36am Oct 21, 2010 9:36am
thanks cprao.
  • #48
  • Edited 11:42am Oct 21, 2010 11:32am | Edited 11:42am
Quoting deltatrade
jag1966 and bkoori. thanks for you're comments. i did not know that other people use this pattern because this is the first thread about this. i'm glad you are successful. it's good to be around people who made it. i started this thread because i wanted to give back something to this forum especially to james16.

delta

Yep

I have only one filter on my chart which is Stochastic 14,3,3 to define the tops & bottoms
Attached Image (click to enlarge)
Click to Enlarge Name: ec.gif Size: 35 KB
  • #49
  • Oct 21, 2010 11:41am Oct 21, 2010 11:41am
Sorry guys I am really bad in extracting images

Here is another example:
Attached Image (click to enlarge)
Click to Enlarge Name: ec-1.gif Size: 30 KB
  • #50
  • Oct 21, 2010 11:43am Oct 21, 2010 11:43am
Quoting bkoori
Yep

I have only one filter on my chart which is Stochastic 14,3,3 to define the tops & bottoms

Sorry thats 2 tops, my bad
  • #51
  • Oct 21, 2010 11:48am Oct 21, 2010 11:48am
Quoting bkoori
Sorry guys I am really bad in extracting images

Here is another example:
in my view that is not a valid 2 b because you don't have a bottom or a top but if you are succesfull in predicting those kind of moves how do you do it? where would you enter and why?
  • #52
  • Oct 21, 2010 11:51am Oct 21, 2010 11:51am
I want it to mention some very important things that you need to confirm before jumping into a trade:


1- Wait for a confirmation of candlestic patterns.
2- Confirmation of your filter, either you use a Stochastic, RSI, Macd, CCI, etc...
3- Wait for the breakout of the candlestick pattern.
4- Place your stop at the bottom of the candlestick pattern.

Good luck

BK
  • #53
  • Oct 21, 2010 11:53am Oct 21, 2010 11:53am
Quoting deltatrade
in my view that is not a valid 2 b because you don't have a bottom or a top but if you are succesfull in predicting those kind of moves how do you do it? where would you enter and why?

For the first image there are 2T with a stochastic signaling the short entry.

BK
  • #54
  • Oct 21, 2010 3:20pm Oct 21, 2010 3:20pm
chart
Attached Image (click to enlarge)
Click to Enlarge Name: nzd jpy.gif Size: 20 KB
  • #55
  • Oct 21, 2010 4:13pm Oct 21, 2010 4:13pm
Quoting bkoori
I want it to mention some very important things that you need to confirm before jumping into a trade:


1- Wait for a confirmation of candlestic patterns.
2- Confirmation of your filter, either you use a Stochastic, RSI, Macd, CCI, etc...
3- Wait for the breakout of the candlestick pattern.
4- Place your stop at the bottom of the candlestick pattern.

Good luck

BK
I do the same
  • #56
  • Oct 21, 2010 4:19pm Oct 21, 2010 4:19pm
I like to think of 2b's as market makers games.

Hunting stops / buy or sell orders, that is why they reverse so quickly when the correct levels are hit.

To avoid getting in too early ask yourself where the stops and orders might be.

Targets are the same, if there is no reason for the price to stop at a certain SR level, hold the trade for longer.
  • #57
  • Oct 21, 2010 6:20pm Oct 21, 2010 6:20pm
Quoting bkoori
I want it to mention some very important things that you need to confirm before jumping into a trade:


1- Wait for a confirmation of candlestic patterns.
2- Confirmation of your filter, either you use a Stochastic, RSI, Macd, CCI, etc...
3- Wait for the breakout of the candlestick pattern.
4- Place your stop at the bottom of the candlestick pattern.

Good luck

BK
Got 1,2 and 4. Can you please explain a little more about 3 ? How do you determine the breakout ? An detailed chart example would work..
  • #58
  • Oct 21, 2010 7:34pm Oct 21, 2010 7:34pm
Nice thread, guys.
  • #59
  • Oct 21, 2010 8:35pm Oct 21, 2010 8:35pm
isnīt it??
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 11 KB
  • #60
  • Oct 22, 2010 2:39am Oct 22, 2010 2:39am
I love the fact we get 2b reversals within 2b reversals. M5s within M15s within H1s etc etc.

My 2nd target was hit during the night. I got back into the long trade this morning as well.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: swissy212b.gif Size: 35 KB
Click to Enlarge Name: swissy15.gif Size: 37 KB
0 traders viewing now