Two Reversal Bar Entry System

Hi Jiva,

here for example only H4 and H1.
You can see, it is not indicator ... simple bars from another TF.

Yes I see.
Can you post the mq4?
Maybe we want to try this...

It is on the first page...
If you read that and do not understand send me a pm..

Maybe sideways mkt for a while now until US data, 2 hours...

Someone asked why I used the 200ema and liked it so much. I said I didn't know why it was so amazing but it was.

Just look at the perfect pirouette.....

This is exactly what we would look for.
I am focused on EURUSD but if I can become a little more familiar with other pairs like USDJPY then I can take some trades there too.

Flying out of consolidation.....

Same with GBPJPY

This short may have a little more to go but I would not take the trade.
We want to find the trades where the train is leaving the station..
The move down has been underway for quite some time.
prices are below s2 headed for s3.
So there may be some more to it. By too much risk there of stalling out and reversing..

There's the signal to go short and the leaving of the consolidation area that we want to catch.

Most likely this is the low for the day now.

prices are resting on s3.
If they go much lower they usually return to s3 before US markets close.
Sometimes then can just keep going, but very rarely...
It doesn't mean they are going to fly back up, they can just sit there for a very long time and then drift lower tomorrow.

Good news for CAD and USD ... easy pips .

Sure ... here.

Jiva,
do you use MD analysis?

for example last trade:
EURUSD down
EURJPY up
--------------------
USDJPY is therefore very interesting.
see whether a signal is present ... yes, long ... OK, long USDJPY.

an example of more (look now):
EURUSD down
EURGBP up
--------------------
GBPUSD is therefore very interesting.
see whether a signal is present ... yes, short ... OK, short GBPUSD.

Such signal I rename all good signals.

You asked me for TP ... with such signals is my min TP 20 pips (but usually I close the trade manually).

I see the logic. And have seen some posts and even some indicators that measure the strength of the pairs.
Makes good sense.

Traders who use baskets of currencies like to analyze like this.

I will be considering like this.
Thankyou..

A day like today is very exciting. But it can be extremely dangerous too.
So we want to take good trades on days like this. But must be very careful also., Whipsaws can and do happen in an instance.
We will see how get in on some of these big moves but only if we are safe.
They happen so quickly and so many things can go wrong.
The broker can not keep up with the orders and there are requotes and missed orders.
The mt4 can jam up leaving us helpless to manage the trade.
The whipsaws, 50 pips in a heartbeat in the wrong direction.
A person could become rich in a matter of minutes. Or they could find themselves living in the street.
Pending orders with defined stops and limits may be one way to go.
If there is a signal and news about to break have the pending order in place.
Many traders simply do not even try to trade the news.

i am one of them! On the sidelines today on my live account, trying to keep up on demo!

Im just going to concentrate on EU for now until i am more confident with the entries

Takes your breath away, doesn't !!!
It can take your life saving's away too.....
We want in on the action but we want to do it in such a way as to still have funds to trade tomorrow!!!

I'm done for today.

Next stop Asian open..
Maybe I will check in 2 hours earlier than Tokyo, since the moves out of Asia have been gigantic last few days and they have started early....

I have lots I can research and practice even if not actually trading...

I think everyone should do what he thinks is best

But the fact is the news and economic situation make the price.

For example:
Now we get a signal for ... But the news tell us what else ... I do not think anyone still uses this signal.

I hope my English is understandable.
Tell me if not, so that no misunderstandings arise.

Yes signals are like "closing the barn door after the horses are out"...
And running down the hillside.

Oh we got this signal...



So trading the news is a whole different way to trade.
Have to understand the impact of the news on investors and traders.
It's not even what the data itself means, it's what the financial community thinks the data means.....

So it is out of the range of the focus of this thread.
It a different topic for a whole different thread.

How to stay focused. thank you for your help...

Ja, das ist dein Englisch ziemlich schlecht. Aber es ist viel besser als mein Deutsch. Irgendwie ist der Sinn kommt durch.