Two Reversal Bar Entry System

lol

I wouldn't trade on this short signal.
#1. time , it's just after US close, volume is very light and spreads can be wide.
#2. the trend is strongly up...
It might catch 20 pips but it's not worth the risk

it would have made the 20 pips but just barely..
the wood pivot is very strong s/r..

would have waited for the long signal which came around US open. But the trade didn't move very nicely and it was approaching Lunch time NY so jumped out with 16 pips (3 positions).
Am practicing with 3 positions but when it is micro time I will open 2.

another signal short but I would not trade it
#1. right after NY close, spreads are wide and trading is thin
#2. uptrend seems still intact.
#3. prices sitting on strong support wood pivot

that's twice I would have avoided taking a trade and it was good for at least 20 pips.
Maybe I can keep an eye open for the action during the pre and early Asia..
Maybe trades can be taken then. Just open 1 position and catch the 20 pips.

Practice practice practice....
$$$$ $$$$ $$$$

little puzzling why there is no signal long?

the first 2 positions would be closed +20 and +50
the stop for the 3rd position is moved up under the clearly defined swing low..
and we are in London session...

macd cross, and 3rd position would be closed.
+20, +50, +50 = +120

now the big question would be should I take a short here?
perhaps open 1 position short...

it would have been good. +20

it would have been good for 3 positions.
+20, +50 and stop for 3rd position moved to just above swinghigh.
Heading into US open

long signal appeared, close 3rd position
+61
total for trade would have been +20, +50 +62 = +132
I chose to open only 1 position.
Considering market time (London open) 3 positions was a better choice.
Macd crossed high from 0 line also.

6 out 6 signals were good...

Awesome job Jiva...

I'll start demoing this system next monday

I was wondering if anyone was following the developments.
Great.
Let us know how it goes.
I've tried a lot of stuff, but this is the best yet.
Of course live market is a lot different from forward simulated trading. But it sure looks good..

Hi Jiva

thanks for sharing the system.

my question is hows the results on a ranging market?


thanks

can i suggest bill williams indis,i love his methods,one of the reasons i downloaded mt4 in the first place,i read his books,bill is oen of those guys that actually make money out of their trading systems then give it out ,not like most,hes old now,but very successful,i read in his book he created an ea on his alligator system,works great

http://forex-indicators.net/bill-wil...tor-oscillator

i reckon it would be bloody good to get the bill williams ao indicator(macd color one) and create it to an ea ,buy at green sell at red