Simple Monday-Tuesday System (attached calculator) | Page 119 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Simple Monthly System (see attached calculator) 48 replies

Excel simple risk calculator needed 10 replies

what if every free system is attached to a trading explorer? 28 replies

If it's such a great system, why isn't there a Trade Explorer attached? 261 replies

Simple Fx Calculator 1 reply

Attachments: Simple Monday-Tuesday System (attached calculator)
Exit Attachments

Simple Monday-Tuesday System (attached calculator)

  • #2,361
  • Mar 6, 2021 7:50pm Mar 6, 2021 7:50pm
Prior to this week's open (March 1 - 5) can we determine a bias for the week from the weekly chart?

Will the main Uptrend continue or should we put more faith in the single, key reversal candle of last week?

What price action will tell us what is happening and what levels should we be looking for?

You don't have to answer the questions; I'm just thinking this through by posting and sharing.

Attached Image (click to enlarge)
Click to Enlarge Name: 2021-03-07_11-44-16.jpg Size: 141 KB
It takes a lot for me to IGNORE you, but you can try.
  • #2,362
  • Mar 6, 2021 8:03pm Mar 6, 2021 8:03pm
I think and I certainly hope that everyone knows about the theory to sell (or buy) at a retracement level of an engulfing candle.

Usually, that means around 50% which is not a Fibonacci number, more of a Gann number I believe.

Anyway, let's check that out on the daily chart, remember where the ideal place to sell (or buy) is? Yes, the WICK of the Weekly candle.

Oh, and if you didn't read any of the previous posts, or watch the recommended videos, it will help you greatly if you do.

Attached Image (click to enlarge)
Click to Enlarge Name: 2021-03-07_11-56-22.jpg Size: 285 KB
It takes a lot for me to IGNORE you, but you can try.
  • #2,363
  • Mar 6, 2021 8:32pm Mar 6, 2021 8:32pm
As I said, I'm just thinking, analyzing, sharing ideas, and observations here; not pushing any trading system.

Hopefully, it can stimulate your thinking and possibly benefit your trading skills.

Attached Image (click to enlarge)
Click to Enlarge Name: 2021-03-07_12-08-18.jpg Size: 468 KB
It takes a lot for me to IGNORE you, but you can try.
  • #2,364
  • Mar 6, 2021 8:41pm Mar 6, 2021 8:41pm
Here is a question to ask yourself, say you have not been able to enter any trade on Mon, Tue or Wed

You missed all the levels already mentioned, but you can see them now; you know about the Ideal Sell Zone

Now it's Thursday, as price trades below the Weekly Open, the master candle on the right turns RED

It has been almost 100 pips higher and was GREEN while above the Weekly Open

Q. Would, could, and should I start selling now?



Attached Image (click to enlarge)
Click to Enlarge Name: 2021-03-07_12-34-20.jpg Size: 419 KB
It takes a lot for me to IGNORE you, but you can try.
  • #2,365
  • Mar 6, 2021 9:25pm Mar 6, 2021 9:25pm
Of course, it doesn't always present like the example above, sticking with the CAD, which we now know was STRONG

By the time we get to Thursday, the Weekly Master Candle is huge RED already

And conveniently, the price is breaking the previous weekly low, the Mon Tue low

Not to forget a very nice Inside Day on Wednesday, fractal levels, the round number at 1.52

What more do we need? Put some MA's on there did you say?



Attached Image (click to enlarge)
Click to Enlarge Name: 2021-03-07_13-16-36.jpg Size: 337 KB
It takes a lot for me to IGNORE you, but you can try.
  • #2,366
  • Mar 6, 2021 11:49pm Mar 6, 2021 11:49pm
Quoting Erebus
Of course, it doesn't always present like the example above, sticking with the CAD, which we now know was STRONG By the time we get to Thursday, the Weekly Master Candle is huge RED already And conveniently, the price is breaking the previous weekly low, the Mon Tue low Not to forget a very nice Inside Day on Wednesday, fractal levels, the round number at 1.52 What more do we need? Put some MA's on there did you say? {image}
I like your idea. How do you find your TP?
  • #2,367
  • Mar 7, 2021 12:41am Mar 7, 2021 12:41am
Quoting 9money
{quote} I like your idea. How do you find your TP?
When I place a trade, TP usually set at 2 or 3 times the Stop Loss

There are many entry levels presented in those charts; each trader has to decide what his own risk management will be.

Good luck for the coming week
It takes a lot for me to IGNORE you, but you can try.
  • #2,368
  • Mar 12, 2021 11:06am Mar 12, 2021 11:06am
Hi Simple Monday Tuesday community,

I have just read the first post of this thread and not sure if what this first post says is what 4ecstasy wanted to say.

It says that:
Quote
The highs and lows of Monday and Tuesday often form the low or the high of the week

And based on what I read in the lines below that text, the system relies on entries triggered by price surpassing those levels. Am I right?

So that "often" word combined with entry points outside no-common levels (so to speak) makes sense? It sounds like trying to trade counter commonly maximum and minimum prices of the week.

What chances of beating those levels we have if those levels are commonly maximum and minimum of the week?

What am I losing here?


Thanks
Always ready to help
  • #2,369
  • Mar 15, 2021 10:45pm Mar 15, 2021 10:45pm
Im thinking of applying mean reversion to this strat. M or T HH and LL often form the HH or LL of the week if my understanding is correct.
Pecuniae obediunt omnia
  • #2,370
  • Mar 15, 2021 10:57pm Mar 15, 2021 10:57pm
Quoting PaulMF
Hi Simple Monday Tuesday community, I have just read the first post of this thread and not sure if what this first post says is what 4ecstasy wanted to say. It says that: {quote} And based on what I read in the lines below that text, the system relies on entries triggered by price surpassing those levels. Am I right? So that "often" word combined with entry points outside no-common levels (so to speak) makes sense? It sounds like trying to trade counter commonly maximum and minimum prices of the week. What chances of beating those levels we have...
I don't see it like that especially after viewing the Inner Circle Trader videos where he says to be alert for highs (or lows) on Mon, Tue or Wed even

They form the Wick of the Weekly candle, so why wouldn't they often be the high or low of the week?

The first chart I looked at has 2 examples; high is made, reverses, a breakout of the Mon Tue low

Can you see it?

Attached Image (click to enlarge)
Click to Enlarge Name: 2021-03-16_13-49-46.jpg Size: 427 KB
It takes a lot for me to IGNORE you, but you can try.
  • #2,371
  • Mar 16, 2021 4:22am Mar 16, 2021 4:22am
Quoting Erebus
{quote} I don't see it like that especially after viewing the Inner Circle Trader videos where he says to be alert for highs (or lows) on Mon, Tue or Wed even They form the Wick of the Weekly candle, so why wouldn't they often be the high or low of the week? The first chart I looked at has 2 examples; high is made, reverses, a breakout of the Mon Tue low Can you see it? {image}
And that is what I'm after. If Monday, Tuesday or even Wednesday have most of the times the low of the week (not sure whether that's true), then trying to make a profit for a short trade below that level does not make too much sense. Because as you states there, the low most often will be done from Monday to Tuesday and not after, and is after when you were trying to make money. Meaning, most of the times you won't have a new low (because most of the times has been already made) and so, won't get a profitable trade.
Always ready to help
  • #2,372
  • Mar 16, 2021 5:54pm Mar 16, 2021 5:54pm
Quoting PaulMF
{quote} And that is what I'm after. If Monday, Tuesday or even Wednesday have most of the times the low of the week (not sure whether that's true), then trying to make a profit for a short trade below that level does not make too much sense. Because as you states there, the low most often will be done from Monday to Tuesday and not after, and is after when you were trying to make money. Meaning, most of the times you won't have a new low (because most of the times has been already made) and so, won't get a profitable trade.
What part are you missing?

The trade isn't in the same direction as the high or low - it's a breakout in the other direction, therefore the "most of the time high or low" is still in place.

If you still don't see it, I suggest you study weekly candles, how are those wicks made anyway?

Have you watched the videos I posted earlier?

I have posted lots of charts, maybe you are overthinking the situation.

Good Luck
It takes a lot for me to IGNORE you, but you can try.
  • #2,373
  • Mar 16, 2021 6:12pm Mar 16, 2021 6:12pm
Quoting Erebus
{quote} What part are you missing? The trade isn't in the same direction as the high or low - it's a breakout in the other direction, therefore the "most of the time high or low" is still in place. If you still don't see it, I suggest you study weekly candles, how are those wicks made anyway? Have you watched the videos I posted earlier? I have posted lots of charts, maybe you are overthinking the situation. Good Luck
You trade short if after Tuesday the price surpass the Low of the week. You trade long, if after Tuesday, the price surpass the high of the week. Am I right?
Always ready to help
  • #2,374
  • Mar 16, 2021 6:34pm Mar 16, 2021 6:34pm
Quoting PaulMF
{quote} You trade short if after Tuesday the price surpass the Low of the week. You trade long, if after Tuesday, the price surpass the high of the week. Am I right?
Study this chart for as long as it takes, until the statement about "most of the time the high or low of the week is made on Mon or Tue"

Breakouts are everywhere you look; each trader has to decide which one to take.

There are only a few ways to enter the market, on a breakout level, on a retracement level, or at the market on a psychic message.

Good Luck and Happy St Patrick's Day

Go the Green Pips

Attached Image (click to enlarge)
Click to Enlarge Name: 2021-03-17_9-21-05.jpg Size: 404 KB
It takes a lot for me to IGNORE you, but you can try.
  • #2,375
  • Mar 16, 2021 6:40pm Mar 16, 2021 6:40pm
Quoting Erebus
{quote} Study this chart for as long as it takes, until the statement about "most of the time the high or low of the week is made on Mon or Tue" Breakouts are everywhere you look; each trader has to decide which one to take. There are only a few ways to enter the market, on a breakout level, on a retracement level, or at the market on a psychic message. Good Luck and Happy St Patrick's Day Go the Green Pips {image}
Understood. I will make my research over this trading system and come back. Thanks.
Always ready to help
  • #2,376
  • Mar 16, 2021 6:51pm Mar 16, 2021 6:51pm
Quoting PaulMF
{quote} Understood. I will make my research over this trading system and come back. Thanks.
And if you have watched the videos, he does say just buy below the weekly open (dashed line)

I forget the number of pips he said, but it is based on having a direction based on the previous week, which is obviously UP.

So that would be an entry based on retracement without having an actual level apart from a random number.

Of course, it doesn't work every week on every pair; when you find that let me know.

It's just about trading what we see, and if what we see fits the theory, then good to go.

Let's come back Friday for review.

And how about the low of that previous week? When was it made?

Definitely the low was made early in the week, Monday is the blue day, then Wednesday, the green day, was Inside Day, and a great breakout opportunity!

It takes a lot for me to IGNORE you, but you can try.
  • #2,377
  • Mar 16, 2021 10:16pm Mar 16, 2021 10:16pm
Prev weekly candle looks bullish. Entered long. To early for M/T breakout, yes.
Attached Image (click to enlarge)
Click to Enlarge Name: 3C116F74-F39A-4875-9E37-D17AD5FFE582.png Size: 239 KB
Pecuniae obediunt omnia
  • #2,378
  • Mar 17, 2021 12:33am Mar 17, 2021 12:33am
Closed my long. Its to early for entry.
Pecuniae obediunt omnia
  • #2,379
  • Mar 17, 2021 2:27am Mar 17, 2021 2:27am
you can sue 3ADR concept also on midweek reversal or Motu strategy,plese check this post.post 90.

https://www.forexfactory.com/thread/...7#post13124447
  • #2,380
  • Mar 17, 2021 2:40am Mar 17, 2021 2:40am
Quoting T4Trade
you can sue 3ADR concept also on midweek reversal or Motu strategy,plese check this post.post 90. https://www.forexfactory.com/thread/...7#post13124447
the concept is to to trade the reversal if price goes above 3xadr. Like a mean reversion something with the 3 tps being 1sd,2sd,3sd away from the peak or bottom
Pecuniae obediunt omnia
1 trader viewing now