GBPUSD GBPJPY 30 Jan 2017

GBPJPY moving up was not agreeing with GBPUSD at London open (green line). GBPJPY flipped over and gave a lower high on the 5 min chart 10.35 candle close, 3 bar reversal alerted. The 1 min GBPJPY shows where the 5 min chart closed with the 10.39 candle highlighted.

Everything we look for in a trade. GJ and GU agreeing on 5 min with several GU lower highs signalling. GJ 1 min shows the test of 144.05 area and the small retrace up and lower high signals at 10.39 candle close. Entry candle has little/no lower wick.

DAX 25 Jan 2017

One of those instances where the 5 min 3 bar reversal did not alert and I wasn't watching and missed this move after London open.

GBPUSD GBPJPY 25 Jan 2017

GBPJPY gets a 3 bar reversal higher low buy signal at the close of the 10.25 candle. GBPUSD agreeing with move up after the double bottom at the London open.

The GBPJPY 1 minute chart highlights the close of the 5 min charts 10.25 candle at 10.29. Picture perfect entry. Clean initial A-B move up small retrace lower with a clean higher low, little/no upper wick candle.

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.