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Two Reversal Bar Entry System

  • #121
  • Jan 18, 2011 1:49am Jan 18, 2011 1:49am
I am using the indicator on page 1 set it to 240 (4hr i presume) when the first arrow appears on the chart do i place a order 5 pips abpove or below the signal candle when it closes or 5 pips as soon as arrow appears above or below current candle

Quoting jiva34
that was it, I closed out
I saw the spike on the 15 min and thought either we are going to go through another pullback or we are turning around.
I was probably wrong about both since r2 is so close above.
I will try to keep the discipline better next time. but for today nice gains +162.
Maybe another signal at US open.
Break time...
http://t3.gstatic.com/images?q=tbn:A...xgF7USt2TBzxzg
  • #122
  • Jan 18, 2011 2:33am Jan 18, 2011 2:33am
Quoting censura
I am using the indicator on page 1 set it to 240 (4hr i presume) when the first arrow appears on the chart do i place a order 5 pips above or below the signal candle when it closes or 5 pips as soon as arrow appears above or below current candle
the order is placed as soon as the 4hr (240) arrow appears. The arrow itself is designed to appear 5 pips above the open of the 2nd 4hr candle in the reversal pattern for a long signal.
There are other things to consider before placing a trade.
Market time being the most significant.
proximity to the wood pivot/s/r and the 200 ema.
Macd is helpful too.
Good luck.
Keep us posted.
  • #123
  • Jan 18, 2011 2:38am Jan 18, 2011 2:38am
the exit appears to have been timely.
German data was very very good.
But it may have been a case of buy the rumor sell the news.
I do not have any doubts that there are leaks before data is released to the masses.
Which means we could get a trade signal around US open.
I should be recuperated by then.
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  • #124
  • Jan 18, 2011 3:13am Jan 18, 2011 3:13am
Hi Jiva.. could you share your template with us? Looks interesting

Thanks
Lets make some green pips
  • #125
  • Jan 18, 2011 3:22am Jan 18, 2011 3:22am
Quoting 4rx
Hi Jiva.. could you share your template with us? Looks interesting

Thanks
It's in the zip on the first page...
You'll need the indis to go with it...
It should all be in the zip...
  • #126
  • Edited 3:43am Jan 18, 2011 3:31am | Edited 3:43am
If I didn't close the 3rd position the stop would now be moved up under the current swing low and the trade would still be open with 52 pips locked in and a shot a move higher.
it was closed for 82 pips.
It's possible we will get one of those dark blue arrow 1hr entry signals about an hour before US open. I won't be at the trading desk if we get the signal. Back in 1/2 hour..
Whether to trade it or not will be the question.
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  • #127
  • Jan 18, 2011 3:31am Jan 18, 2011 3:31am
Would you consider adding a sound alert?
  • #128
  • Jan 18, 2011 3:34am Jan 18, 2011 3:34am
Quoting saintmo
Would you consider adding a sound alert?
Definitely. Know anyone who can do the popup and sound alert? I tried but well, I had to reload mt4 after my attempt....
It should have the true/false (use or not) option and tell which pair and which time frame.
  • #129
  • Jan 18, 2011 3:41am Jan 18, 2011 3:41am
Quoting jiva34
It's in the zip on the first page...
You'll need the indis to go with it...
It should all be in the zip...
Thanks Jiva...

Happy pipping..
Lets make some green pips
  • #130
  • Jan 18, 2011 4:03am Jan 18, 2011 4:03am
hey noobs can i tell ya a secret,ur are all gonna loose money!ehheheh

trading is not easy,its a mind game one against the other

ill give ya a tip,try reading threats on why the prices move,and who moves it for what reason,and mtm
  • #131
  • Jan 18, 2011 4:55am Jan 18, 2011 4:55am
Quoting dragan53
hey noobs can i tell ya a secret,ur are all gonna loose money!ehheheh

trading is not easy,its a mind game one against the other

ill give ya a tip,try reading threats on why the prices move,and who moves it for what reason,and mtm
Most people simply lose their money trading. Sometimes ALL their money.
Demo and micro.... Until you actually know what you are doing for sure....
  • #132
  • Jan 18, 2011 5:03am Jan 18, 2011 5:03am
There it is the dark blue arrows for 1 hour signal.
I hesitate seriously to enter long here.
macd is very far above the zero line as well as being quite a distance above the 200ema.
the chart is a 15 min with mcandles set to 60.
r2 is hanging just above but still....
US market opening.
US data in 1/2 hour.
I don't know.
Maybe I'll just wait to see how this plays out.
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  • #133
  • Jan 18, 2011 5:44am Jan 18, 2011 5:44am
would look for a short signal 4hr in 15 mins or so...
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  • #134
  • Jan 18, 2011 6:05am Jan 18, 2011 6:05am
Quoting jiva34
Most people simply lose their money trading. Sometimes ALL their money.
Demo and micro.... Until you actually know what you are doing for sure....
ye we are saying that from experience,but in reality for us small time traders,experience is the only thing that makes us money,becuase we got slapped in the face so many times,that we memorized all the candlestick formation repeats,hehe lol
abit sad,but its the only way
  • #135
  • Jan 18, 2011 6:08am Jan 18, 2011 6:08am
short signal
1 short in micro
full strategy in demo 3 short...
US session always seems more difficult to trade to me than London or even Tokyo...
Can't rely on indis like macd. Macd can cross and recross until your head spins.
Divergences galore and still not reverse direction until it's good and ready, sometimes 100's of pips and a margin call away...
maybe I got this wrong, a four hour signal appeared macd crossed and US session full swing,
entered short, but maybe it's just a pullback and risk trade is on and Eur goes higher.
r2 hanging over head saying come over here I have lots of orders waiting.
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  • #136
  • Jan 18, 2011 6:12am Jan 18, 2011 6:12am
Quoting Wandler
Hi Jiva,

I think it more likely to expect a sell from 16 clock.
nice train set there,i want to short as well ,but what looks like down,is actully stopping volume,as we see narrow spread bars,that means that the big guns are exchaning hands with the weak players,so no more demand from big shakers in ny,but i wouldnt complately say that supply has been remove,look at 15m,,now and short when it goes lower a bit,

what we saw today/yesterday was a shakeout from big guns trading to fool us,so they can hit uor stop losses and profit,in return more liquidity for them so they can dump their crap on someone else
what im talking about is the down move,when clearly we didnt see any narrow bars which means they are exchanging hands,now we are seeing narrow bars and upthrusts,but the bolume isnt particularly big,
now im looking at 15,and its rising,from the fall,shows thath theres still supply present and they aint getting out,,when the supply starts beating demand,then we are ready for a turn
  • #137
  • Jan 18, 2011 6:17am Jan 18, 2011 6:17am
CAD
BOC Rate Statement

unchanged rates moving the usdcad,unchanged rates means weaker cad

wald just dont trade us data,marketmakers dont like it,and turn off the liquidity,aud cad nzd is profitable to trade on news,esp interest rates,and tey aint hard to forecast either
  • #138
  • Jan 18, 2011 6:26am Jan 18, 2011 6:26am
Now that I'm in the trade, yecht..
sometimes I try to determine if there is alot of trading to support the move by looking at obv.
maybe there's a chance of surviving this.
obv is not supporting the push higher...
strategy calls for stop above the high of the previous 4hr candle...
It's that r2. Never underestimate the power of support and resistance.
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  • #139
  • Jan 18, 2011 6:40am Jan 18, 2011 6:40am
r2
http://t2.gstatic.com/images?q=tbn:A...l3sGIouOnXvYmg
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  • #140
  • Jan 18, 2011 6:42am Jan 18, 2011 6:42am
I may just avoid US market altogether.
Just trade Tokyo and London.
Us seems always weird to me.
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