You should go by US charts. Closing time in US right now.

EURUSD only

With minutes to go, we have a D1 chart Hanging man on EURUSD, EURAUD, EURCAD, GBPUSD and AUDUSD. Tomorrow and for a few days after, the Greenback may be bouncing. Cad may also go higher on a BOC interest rate cut.

EURUSD only

I think you called it just about right. IF we get the hanging man, the correct way to enter would be with a Sell stop around 1.2249.

EURUSD only

The Daily chart is painting a Hanging Man candle. If it closes around here, we may finally get the drop tomorrow. Probably back to test support at 1.2075 or so.

EURUSD only

Longer look back only on arrow. Not on MBFX which is based on Fast Stochastic and does not need a longer look back than 10. I agree that the results are impressive for the original rules so far this month. Time will tell the story. You need 6 months ...

Simple Daily Trend Reversal Trading System

I continue to see many great opportunities lost because of the short arrow look back. In the attached charts I marked with yellow ovals several entries that were never issued by the system because of the 10 bar look back. I am running the system ...

Simple Daily Trend Reversal Trading System

The Visualization tab still does not work. I turn off the S/R levels in W1 and MN but they still show up... Thanks.

Simple Daily Trend Reversal Trading System

Thanks ebeckers. This is the very best S/R indi I have tried. I use it on H4 and D1 charts with the Medium/Low setting. It would be perfect if I could turn it off on W1 and MN charts, but for some reason the Visualization tab (where you choose the ...

Simple Daily Trend Reversal Trading System

If you get 2 baskets to close with 10% profit during the month and nothing else, that equals more than 1100% profit per year compounded. A few years of that and you can live happily forever after... In Forex, sometimes less is more...

Simple Daily Trend Reversal Trading System

10% profit at some point is very achievable with an open basket. After the basket closes, the EA can stop trading for the day. That eliminates the "problem" of the trades reopening, at least till the next day.

Simple Daily Trend Reversal Trading System

Here is a possible improvement for the EA: If the total profit of open trades reaches x%, then close everything. Basket trading is an interesting concept that has proven to be profitable for me over the years. This addition to the EA locks in profit ...

Simple Daily Trend Reversal Trading System

Thanks ebeckers. Excellent indicator. Just one question: Could you please clarify the differences in colors and thicknesses? I thought it may have to do with the importance or age of the S/R levels, but I see lines with the same age label but with ...

Simple Daily Trend Reversal Trading System

Congratulations. Very solid results in what is, as you say, a tough week to trade. Happy Holidays.

Simple Daily Trend Reversal Trading System

It is almost impossible to predict when volatility will pick up and the markets will start trending. Studying fundamentals allows you to suspect more or less when it will happen but you cannot be sure. For example, my studies tell me there is a very ...

Simple Daily Trend Reversal Trading System

Here is a good example of why I changed the ZigZag look back to 50 instead of 10. Because the pair took its time retesting after the first MA 15 break, You may have been stopped out on two occasions, if your stop was tight, as price retraced, thus ...

Simple Daily Trend Reversal Trading System

Thanks ebeckers, you are amazing... Question: Does the 200MA trend filter follow the same rules as the MATrend Arrow indi that I included (Close Above/Below the D1 200 Simple MA)? Thanks for your great work.

Simple Daily Trend Reversal Trading System

I understand what you are saying, but please understand that the Forex market in general has been mostly ranging in the past year. Volatility has been near record lows during that time. Trend Reversal systems do very well with ranging markets. After ...

Simple Daily Trend Reversal Trading System

That is what I thought too with my Extreme TMA trend reversal system... I said: "A trend filter will not work because I will miss out on too many counter trend trades" I was wrong. In trading, the key to success is avoiding losses. For example, here ...

Simple Daily Trend Reversal Trading System

Over the years I have struggled to define what is the major trend. I have tried dozens of methods and none of them are perfect. In the end I settled for a clean and simple solution that works very well in most cases. The conditions are: Green Arrow: ...

Simple Daily Trend Reversal Trading System

These are my settings. It is especially important to change the Trend Time Frame to 1 Day instead of H4.

Simple Daily Trend Reversal Trading System