Two Reversal Bar Entry System

You're right.
I wish you a nice afternoon, Wandler.

Signal EURUSD: Long.
EURGBP up
GBPUSD up

USDCAD: Short.

Jiva, if you would give mechanical rules for this system what would it be ?

On your previous thread I said that the backtests were not too bad with the basic rules, I would like to improve this.

Think it would be a good idea to choose one or two pairs and stick with it.

Does anyone even look at the first page?

I did look at the first page I'm asking for more ideas

Thank you for your interest in helping us develop this strategy. If you can follow along with us as we experiment with it and also share some of your own experiences, actual experiences, feel free to post some charts with notes about how you have tried to take the trades, etc. then we can try to work to together.
I am posting in as much detail as time and my limited energies will allow and try to remain open to ideas from others.
So if you want to you can also post some details of your own efforts and we can try to work together. As long as we stay focused on the main strategy (first page). Sometimes someone has some new angle of vision, see Wandler's posts, he has lots of good different angles but is staying with the main idea.

as far as mechanical rules, there some rough guidelines for mechanical. These are already on the first page and throughout the thread.
I really don't want to rehash.
The way it works in the forum is traders follow a thread for some time, get the feel for that particular effort and share what they are doing to test the system.
So feel free to join us as we move along together.
Let us know how your efforts are going.
Try some trades on demo. It is helpful if we can see what you are actually doing.

The free flow of ideas on the forum is what stimulates more ideas.
It is give and take.
So we are also interested in what you may have to give.
We are all in this together.
None of us are millionaires, yet..

I like to focus on EURUSD myself. It is plenty active enough to find entries. One entry a day is enough really. Can be worth over 100 pips. 3 positions. Wandler likes to hop in and out with 10 or 20 pips of whatever pair meets his other criteria along with the 2 bar reversal.

We look forward to finding out more about what you are doing...
Thank you again for your interest.

Friday Asia's quiet...

day chart.
testing the 200 ema
strong resistance
using volume is new to me
but if I am getting it right as long as volume is increasing with the move then the move is strong.
So a break through is likely.
I wouldn't think it would be today, Friday, no US or EUR data to fuel the fire and EUR data is very light all next week.
Could be a failed break through temporarily.
Range bound..
So I don't know If I will trade any of the signals should they come.
Maybe just 1 position and look for 10 or 15 pips instead of using the 3 positions and looking for a big move.

So using that line of reasoning:
If
EURGBP up
GBPJPY up

if signal long EURJPY, trade?

Sssh......you woke up the Euro

cheers

out of 15 pairs only 1 signal GBPJPY and was good for maybe 10 to 15 pips...Asia slow after all the commotion last couple of days...
Taking target 10 or 15 pips may be best choice if there are signals.
Hmm.. We like to look for consolidation and then the breakout for the 3 position strategy.
Many of the pairs are not consolidating around the pivot they are either high or low which means to me that there is some stalling or possible retracing. So then that would make sense to look for a smaller profit target if there should be some trades taken.

Jiva I'm an automated trader I don't trade manually that is why I'm always open for new ideas.

Some strategies cannot work because defining SR areas and chart patterns are more important than the actual entry and exit signals.

I apologsie if I have frustrated you in any way

From my findings this system cannot function mechanically, human intuition is a neccesity. Also as you have showed us areas of interesest are very important.

Will see what I can do

I see.
Can you program?
I believe it would be possible to automate according to trading times with some measure of success.

Signal in the favorite EURUSD
So we will set for 10 pips.

since we are holding the cards close as they say took 7.5 pips
it did reach the 10 pip target..

AUDUSD will set for 10 pips
with Frankfurt about to open..

jittery
light volume
probably will go higher,
but hopped out...
not enough to cover spread.
Better that than sorrrryyyyy..
Was looking for a little boost from Frankfurt..
very little boost...
It's Friday.............

The AUDUSD trade was good... at least for the 10 pips.

London in 15 minutes. let's see what if any...

rule of thumb

Heading away from the pivot and out of consolidation
3 position strategy

heading back towards the pivot after a significant move, 1 position 10 pip tgt.