Forex Weekly Bias: Bullish Mean Rejection
Another simple forex trading signal that exploits the weekly mean reversion property of Euro.
The strength of this system is in its simplicity.
For those who have read the classic Taylor Trading Technique (from George Douglass Taylor), this setup in combination with the Bearish Mean Reversion setup is very much a mechanical proof that the method still works today. It is difficult to learn from these classic trading text because many readers nowadays lack the understanding of the struggle happening at the transaction level. Using price reactions at important STOPD levels is one way to quantify these classic trading techniques.
Following chart shows the performance of the trading setup in pips. As usual, 1 pip taken per trade (2 pip round turn) to account for slippage.
This model skips Monday.
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