GBPUSD GBPJPY 12 Dec 2016

The 3 bar reversal indicator - see http://www.forexfactory.com/showthread.php?t=108544 for details - is based on price action and the close of a candle in relation to the two previous candle closes with a filter above/below stoch 50 level.

This morning after Franfurt open (yellow line) GU has a double bottom and GJ is on higher lows and the buy signals are about as good as you can get. After the London open (green line) both GU and GJ have lower highs and again sell signals about as good as one can expect to get.

The arrows refer to the prior closed candle.

Blast from the past - Frankies half hour reversal

There's nothing new in trading .............................................on Frankies half hour reversal e.g.

http://vantagefx.blogspot.co.za/2010/05/some-gbpusd-thoughts.html goes back to May 2010 and
http://vantagefx.blogspot.co.za/2010/08/trade-example.html

DAX 7 Dec 2016

I don't follow the same Frankie half hour reversal for DAX as I do with GU/GJ.

At the open Dax signaled buys just above 10850, after LO rejected 10900 and had a losing sell signal, then another winning buy signal 10890.

 

GBPUSD GBPJPY 7 Dec 2016

If I recall correctly it was Islander over at Forexfactory that put me onto the Frankie half hour reversal (half hour between Frankfurt and London open the yellow green lines) years ago. Thats the main start time that I look to get interested in GU/GJ.

3 bar reversal signals - Both pairs signaled buys 20 mins after Frankfurt open i.e. before the half hour. After that both tested the lows of their immediate range GU just below 1.2650 and GJ just above 144.50 and the 3 bar rev signaled sells GU off a multiple top and GJ a lower high.