I meant that the last candle - which is technically your signal candle - must have a body that is greater than the body of the previous 2 candles. And you trade at the open of the next day candle after the completion of that signal candle. I hope I ...

A simple strategy with no indicators

Yes you trade at the open of the next day

A simple strategy with no indicators

Here is another example to make it clearer

A simple strategy with no indicators

Similar to profit taking, you place the stop loss at the psychological levels 00 & 50. So for example if you entered a long trade @ 1.2734, you could place the stop loss @ 1.2700 and place the target @ 1.2800. This is all subjective

A simple strategy with no indicators

live

A simple strategy with no indicators

A pair is traded only once per day at the maximum. I have just posted an example of this strategy

A simple strategy with no indicators

Thanks...I started very recently using this strategy (less than a couple of weeks ago). So I need to wait for maybe a couple of months before I could say whether it is profitable or not

The Steps System

And here is another failed bearish trade:

The Steps System

Another successful bearish trade:

The Steps System

Here is another one but this one has failed:

The Steps System

Here is a bearish trade:

The Steps System

My pleasure

The Steps System

Here are two examples: The first one does not fulfill the criteria - even though the trade is successful - because the body of the right candle < half of the total candle length

The Steps System

Here is an example: Trade the candle following the Right Candle:

The Steps System

Thanks alot. I should have stated the stop loss rule as well. It is basically 5 pips above the high of the middle point when going bearish, or 5 pips below the low of the middle point when going bullish. I prefer to test it on longer terms: daily or ...

Need backtesting results for this system

In short, I think you are mixing between Nial's concept of "Pin Bar Reversal" and "The Fakey Setup"

Daily Charts

Here is the "fakey setup" as illustrated by Nial: video

Daily Charts

As I told you in my private message, the "fakey setup" is a mother candle followed by an inside bar THEN a pin bar that either breaks the high of the inside bar but fails to close above it - and that triggers a bearish trade, OR breaks the low of ...

Daily Charts