Two Reversal Bar Entry System

thank you, we will find this most helpful....

we will look for weakness in the pound and a signal short.GBPJPY
dollar strength... short GBPUSD

1 hour before Frankfurt open.
long EURCHF
However with my usual inattentiveness I somehow overlooked that the slow rsx had not crossed.
Whether EURCHF has any legs long in the short term or not is now questionable.
r1 is just above and most likely we will reach that. and then perhaps a retest of the recent high..
If we can reach 20 pips no sweating...

note: actually they have crossed. I had forgotten the indi is not coded for 3 rsx, I concocted the indi by superimposing 3 rsx settings on the one window. the zero lines are not matched. If I calculate the difference in the zero lines there has been a cross. So we should be okay for the targets.

Any coders out there hovering? Need an indi with settings for 3 rsx's in line form....

would look for short signal silver

looks like strong EUR and strong dollar. weak pound...
look for long EURGBP..

First time trying this. trading what I see.
Entered short before prices turn.

note: I can see where in some cases entering early would be good, but as a general rule. Safer to wait for a confirmed break out even if it means letting some pips get away.

same with EURGBP entering long before prices turn based on what I am seeing...

Japan ratings cut from aa to aa- sending markets into a tizzy.
Spikes everywhere.
My analysis although very likely correct, the positions are getting challenged by the spikes on the news.
Stops are in place. I widened some of them because of the whip saws.

Added 3 more long positions to EURCHF.

btw. I am only trading demo... I am in no way ready to trade my hard earned money yet....

the template sure is pretty. But am going back to something more plain. Too much going on, loses focus.
tutti fruity....

Jiva,

Are you still trading this strategy?

Best regards,
BC2

No..
am over here...http://www.forexfactory.com/showthre...=1#post4657777

Revisiting this strategy after 7 months..
The indi repaints but it's good more times than not, so if the signal is bad, the stop will be hit. But that's what trading is.
this is the trading history for today.
very impressive..
amazingly the preset stops and limits coincide very nicely with pivots and support and resistance.
the pair should be trending, if the pair is consolidating, wait. Don't trade.

If this keeps up I might have to trade a mini account instead of the micro.

Hi Jiva,

What a nice and promising thread u r having here.

Just wanna suggest some input for those still questioning the RR etc. Some might say that this system is doomed to fail in the long run; and so do all other systems in FF

BUT, perhaps some of us would want to consider giving it a try and trade it at D1. At least, I am seriously considering my option at D1. 1st bull candle at D1, I load my buy on the next D1, (vice versa for bear candle), and will let it run for as long as it could. SL should be slightly lower than the low of the 1st candle (Low 96.96), risking 2% of course,and will have to manually calculate that 2% risks based how many pip to that low and depending on my trading capital, to come out with the lot size. I strongly believe that the more trades we take, the more and higher the risks we r taking. This is where we r doomed in the long run.

Thus, by taking only 1-2 trades weekly once the criteria (as per this thread) r met, much much less risks r involved (i.e. only 2% to 4% weekly). In the end, all that matters are whether my account is been blown out again or NOT.

I am using EMA20 Low as a filter. As per the chart attached, USDJPY seems to have passed the criteria and here we go...

I've learned the hard way that we MUST never play around too much with risks.

Thanks