I also hold trades over the weekend (always)
Like to have them working off the bat come market opening the following week!
Hi dudest
This is a thank you note. Cos of our heads up, I was able to catch hold of this GU setup. Though itās on a demo account, it still feels great to make a profit after a series of lossesThank You!
To return you the favour, I noticed there is a sort of evening star setup in USD/CAD. May not be appropriate in this thread as it is not advocated in FSO. If you are interested, you may wish to take a look. Just note that I am a true newbie here on a demo a/c and can be very wrong as evidenced by my declining account.
Youāre most welcome my friend 
That GBPUSD went on really well, surpassed the initial target. I hope you were still in it by close of trading, would have had some good pips in your pocket
@USDCAD: Thanks mate Yap, that does look like an Evening Star. However, iām passing it up for a USDCHF trade [ Daily, bullish 2BR @50% Fib after pullback ] (will be posting it soon) that i think is a bigger cherry
Cheers!
Hi Dudest
For the GU, managed to close half position at RR 1:1 and the remaining half moved stop to break even.
It would be interesting to see how your USDCHF unfolds as I am still quite new to 2 bar reversal. Will be watching and learning from this closely. Thanks pal!
Hey for all who were asking for info on 2 bar reversals in here the other day I have just made an article an had it published at Dailyforex.com. You can find it at this link here: 2 Bar Reversals Info
I hope this helps you. If anyone has questions after this please ask me in here and I will answer them when I can.
Safe trading,
Johnathon
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Thanks Johnathon, good stuff!
Heads up:
(1) 2BR for -vely correlated pairs EURUSD & USDCHF:
(2) AUDCHF pullback to key zone, pinbar on H4
(3) CADJPY H4 2BR:
=====
=> I think the USDCHF may be the pick of the crop, followed by the CADJPY
=> Your thoughts and comments most welcome!
Dudest
Already long on Usd/Chf. I realize that it wasnāt the best looking pinbar but Iām still fighting my demons. Iām trying to curb the urge to always be in a trade and the impatience in taking trades that are not A+. Who would have thought that of all the people I try and get to listen to me, the one person that listens the least is ME.
Hey dudest
Gbpusd looks a lot nicer to me as FSA is much further away then it is for eurusd. Just my opinion though
Really enjoying your posts as well bud
Dipak
Seriously,i cant see the different between 2 bar reversals and engulfing bar.2 bar reversals just look like engulfing the previous barā¦
Hi Dudest
I went thru all your charts. Personally I find that the setup for AUDCHF is promising too. Though the pin bar is formed at H4, the resistance level that it is formed on is quite well respected on the daily time frame. It seem to have a good risk reward ratio too.
I did not take this trade though as the limit order for USD/CAD on my demo account got triggered.
Heya,
only problem with this one is the 4hr candle was the last candle formed last week. This represents people leaving the market and covering their trades. The last candle of the week is generally very thin and not as liquid as we would like and can produce fake signals. Is this people covering trades or rejecting an area like we would like?
Now looking like breaking lower so good luck,
Johnathon
hello all,
i just entry for GU because theres 2BR on dailyā¦and until now im already lock in +1ā¦and wait for hitting my TP or my SLā¦
Gud Luck allā¦
Hello Bird,
can you throw up a chart to show what you mean? Did you just enter? or you are already at 1/1 RR?
I already set in 1:1 RRā¦i am not just entering,i see theres 2BR at daily and it with trend too in 4H while in daily its still rangingā¦
this my chart :
please review me if i wrong to take position sirā¦
thanks,
Ok sorry I am lost.
So you sold on of the daily chart today?
And you are aiming for 1/1?
Im also lost with birdcat trade.
yes misterā¦im trading with daily in GU and aiming for 1:1 ā¦can you review for me if i am right?
There is no right or wrong in forex. That you will learn over time.
I am sorry though I am very confused over your trade idea. Maybe someone else watching this can shed some light and help a littleā¦
Hi Johnathon
Thank for highlighting this important point. Though I have read in Babypips that trades tend to be thin on NY Fri afternoon where people either close existing positions or do not commit to new trades, I have overlooked to check this on the 4hr pin.
Many thanks again!
Look at it this way: in the same way that a square can be a rectangle (by definition), but a rectangle is not a square: an engulfing bar can be part of a 2-bar reversal pattern. But an engulfing bar is also a distinct setup on its own.
With 2BR, the important thing is: is the 2nd bar negating (cancelling) the action of the 1st bar?, and are the two bars similar in form?
With EB, the engulfing bar just needs to completely cover the first bar (body, wicks and all)
If an EB is formed (i.e whole candle engulfs previous candle) and the candle being engulfed appears similar in form to the engulfing candle, this is still a 2BR.
Makes sense?
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