Trend Reversal Algorithmic System for Maximum Risk Reward Ratio (by TJdonovan) Quick Stats
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Trend Reversal Algorithmic System for Maximum Risk Reward Ratio Discussion
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Member Since Aug 19, 2015  77 posts Tom J. Donovan (TJdonovan) Oct 15 2015 at 07:25
Good morning Jose. I have messaged you on myFXbook.

Both statements are from the same source, but the numbers are different. I don't know why; honestly must be a glitch. They are results of my EAs, but I offer a managed service too.

Please email me. It's the best way to reach me.
    Skype ID is: tjdonovantrading


Member Since Aug 19, 2015  77 posts Tom J. Donovan (TJdonovan) Oct 21 2015 at 15:31
Hi Everyone.

Just a little data/news I find is worth noting for all those who trade Gold, the metal commodities, and us Forex traders.

Gold prices fell Wednesday, as a stronger dollar pushed investors to take profits on recent gains in the precious metal.

Gold for December delivery, the most actively traded contract, was recently down 1% at $1,166 a troy ounce on the Comex division of the New York Mercantile Exchange.

Prices for the precious metal have risen more than 5% from their October lows, as investors discount the possibility that the Federal Reserve will raise interest rates in coming months. Lower rates for longer support prices for gold, which pays no dividend and struggles to compete with yield-bearing investments when borrowing costs rise.

'There is very little news and the dollar is rising, and some investors are using the opportunity to take some money off the table,' said Bob Haberkorn, a broker with RJO Futures.


Member Since Aug 19, 2015  77 posts Tom J. Donovan (TJdonovan) Oct 23 2015 at 01:43
CHINA PRESS: The government will likely cut on-grid power prices again to reduce costs in the economy, the Economic Information Daily reports quoting sources. The State Council has decided to cut the price by around CNY0.03 per kWh on
average nationwide. The cut may come as early as November, the report says. It last cut power prices by CNY0.02 per kWh in April. ~ (Economic Information Daily)


Member Since Aug 19, 2015  77 posts Tom J. Donovan (TJdonovan) Oct 23 2015 at 15:33
Was the euro's recent strength a mere blip? Many analysts think so, with ANZ's Richard Yetsenda saying that the combination of further European Central Bank easing and an eventual rate hike from the Federal Reserve represents a 'perfect storm' for the benchmark pair. 'If the Fed can hike and the ECB's also doing some easing then [...] we could potentially see a break from this 1.05-1.15 range we've been in for quite a while,' adds Yetsenda. The theme of policy divergence was one that received a great deal of attention in early- to mid-2015, but the recent spate of safe-haven euro buying sidelined it in the wake of the Fed's failure to hike rates in September. EURUSD is presently trading at 1.1100.


Member Since Aug 19, 2015  77 posts Tom J. Donovan (TJdonovan) Oct 25 2015 at 22:27
EURO-DOLLAR: The pair starts the new week at $1.1009 toward the lower side of the $1.0994 to $1.1139 range witnessed on Friday, the beleaguered Euro still reeling from Draghi's dovish statement on Thursday.

Ahead of key economic data,the Asian session should see sideways consolidation, German IFO data is set for release at 0900 GMT.

Traders have cited large option expiry's at $1.1000 ($1.1billion) that may prove supportive on the day. Key support lies at $1.0938,which marks the 61.8% fib on the $1.0458 to $1.1714 rise, while hourly resistance is located at $1.1056. Euro-dollar currently trades at $1.0995, the range thus far has been $1.0989 to $1.1013.

US: DOLLAR INDEX TECHS: Focus Shifts To Aug Highs

*RES 4: 98.046 - Weekly Bollinger band top
*RES 3: 97.593 - High Aug 11
*RES 2: 97.500 - Falling weekly channel top

*RES 1: 97.201 - High Oct 23
*PRICE: 97.127 @ 2200GMT

*SUP 1: 96.537 - Alternating daily support/resistance
*SUP 2: 96.009 - 200-DMA
*SUP 3: 95.942 - 100-DMA
*SUP 4: 95.690 - 55-DMA


With a bullish bias having been identified following Wednesday's close above the 95.000 level gains continued above key DMAs Friday. Bulls now shift their focus to the 98.334 Aug monthly high. Bears now need a close below 96.537 to ease bullish pressure and to bring key DMAs 95.454-96.009 back into the picture. The Bollinger band top (97.033) is the key concern for bulls with potential to limit follow through.


Member Since Aug 19, 2015  77 posts Tom J. Donovan (TJdonovan) Oct 26 2015 at 00:36
The probability of the Fed keeping the rate unchanged in October is 93.1 percent according to the CME Group FedWatch.

Although some Fed members have said that an October rate hike was a possible, the market sees a Federal Open Market Committee meeting that is followed by a press conference, like the one in December, as having a higher chance of delivering a rate hike announcement.

The Fed will publish its rate statement on Wednesday, October 28 at 2:00 pm EDT.


Member Since Aug 19, 2015  77 posts Tom J. Donovan (TJdonovan) Oct 28 2015 at 00:17
EURUSD traders and investors are hoping for a definite sense of direction from the FOMC when it meets this week.

The pair has seen mild correction in recent sessions, but a much needed clear signal from the committee will perhaps cause an over-reaction in Forex markets.


Member Since Aug 19, 2015  77 posts Tom J. Donovan (TJdonovan) Oct 28 2015 at 20:23
FOMC: December Fed hike here we come.

This FOMC statement is a clear potential setup for a December rate move judging from two key changes to the September statement.

First is the removal of the phrase from the September statement of the sentence discussing worries from global developments.

Second was the alteration of the language discussing the first rate hike -> moving to a 'whether it is appropriate' to move 'at the next meeting'. This is a major hawkish upgrade to the language by FOMC standards and all we need now is cooperative incoming data for the October and November US data cycles and we'll finally have our first rate hike in almost a decade in the bag.

This should be very USD supportive with further acceleration higher if next Friday's US employment report is a strong one.


Member Since Sep 21, 2015  2 posts johnhamm Oct 29 2015 at 10:56
thanks for these news/data updates Tom. I really appreciate it, it keeps me in the 'know'.
The FOMC today was pretty brutal though. I hope we get a good volatile session when unemployment data comes out in a few hours.


Member Since Aug 19, 2015  77 posts Tom J. Donovan (TJdonovan) Nov 03 2015 at 18:38
EURO-DOLLAR: $1.0970, before Draghi is due to speak in Frankfurt. Market is nervous, taking Euro back up to middle of the range, after spending several hours at or near the lows.

There is some small resistance at $1.0980 followed by $1.1020-30 Intraday highs Asia, and Europe respectively. $1.0936 is the
overnight low, but the important support is at $1.0890/96 Oct 28 low(FOMC react).

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EURUSD 1.19516 GBPUSD 1.33534
USDJPY 104.286 USDCAD 1.29806







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