So they say Monday is not the best day to trade due to its volatility.
If so, only trade after Monday. But, on what basis should we open any trade after Monday? My thought is all trades after Monday (i.e., Tuesday) can only be possibly opened because we use previous Monday's price action, which is rather low in its price movement.
if we compare Mondays PA with Tuesdays', Wednesdays' and Thursdays', those middle days of a week show higher volatility. A generalized conclusion is there is always a breakout after Monday. Call it a fact for the sake of simplicity.
That takes me to an idea to buy at the breakout of the previous Mondays highest and to sell at the breakout of the previous Mondays lowest.
Mondays aren't always useless, are they?
I dont know if there is already a system doing exactly the same thing. Let me know if there really is. In the meantime, let me just pretend mine is the first to make use of Mondays highest/lowest as a breakout criteria.
Anyway, I open this thread to share the idea with you all. Its ours now. Please, share your thoughts.
If so, only trade after Monday. But, on what basis should we open any trade after Monday? My thought is all trades after Monday (i.e., Tuesday) can only be possibly opened because we use previous Monday's price action, which is rather low in its price movement.
if we compare Mondays PA with Tuesdays', Wednesdays' and Thursdays', those middle days of a week show higher volatility. A generalized conclusion is there is always a breakout after Monday. Call it a fact for the sake of simplicity.
That takes me to an idea to buy at the breakout of the previous Mondays highest and to sell at the breakout of the previous Mondays lowest.
Mondays aren't always useless, are they?
I dont know if there is already a system doing exactly the same thing. Let me know if there really is. In the meantime, let me just pretend mine is the first to make use of Mondays highest/lowest as a breakout criteria.
Anyway, I open this thread to share the idea with you all. Its ours now. Please, share your thoughts.