Thread moved to “A Simple 2 Bar II”, based on the numerous revisions to the system rules.
Update on first trade:
I added a second short position at 87.68. Stops are now at breakeven. Positions are currently +35 and +29pips.
I will be uploading an Excel Calculator to work out stop and limit, later today.
Closed for +32.6 and 26.6pips as type 3 long has developed.
GBPJPY Type 3 long setup this morning. 4am closed below 12am but next bar failed to close below 12am, hence price should buy up to the last blue bar before 12am.
Additionally Friday had a buy setup at the low of the blue bar (170.28) highlighted in the attached chart, as 4am closed above 12am.
Hi Bank, interesting system, i will take some time to digest the rules.
Thanks swallow!
Question: is this mostly an intraday strategy?
Yes swallow. I almost mentioned that in my last post. It should give you one trade per day on each pair.
Stop now at breakeven as price has reached the blue bar high.
closed +40pips.
Hi BankDaPips
Thanks for this, I will surely try this out after I have studied the rules. Looks Great !
You’re welcome and thanks Geduld!
The short trade here triggered to the pip. I didn’t take it though. Will check for setups after close of the current H4 bar.
AUDJPY Potential type 2 long setup, if current bar (4am) fails to close below the previous(12am).
If there is a close below the previous bar, then we have a type 3 long setup which should target the area marked as resistance.
