No Indicators Trading Strategy - 2013-02-03 538x218

No Indicators Trading Strategy (NITS) Weekly Report – 03-Feb-13

This week I have been requested to focus on GBPJPY, a currency I usually don’t trade – High spread and rather volatile at times.

I will comment on the 15 Minute and 4 Hour chart which, as can be seen, has just confirmed its uptrend again this week (by breaking the previous Higher High). Those trading the 1 hour chart will be in this same trade.

No Indicators Trading Strategy - 2013-02-03 - GBPJPY 4 Hour Chart

After a small losing trade on the 15 Minute chart those trading GBPJPY on this time-frame will have been Long since Tuesday or Wednesday.

The Current Trailing Stop is “in the money” for some and slightly in the Red for others, depending on entry.

Most NITS traders will have taken at least profits after seeing the acceleration last Thursday into early Friday morning.

No Indicators Trading Strategy - 2013-02-03 - GBPJPY 15 Minute Chart

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This report is based on my analysis on my charting package. It may differ to yours as it can be affected by time, market movements, charting packages and broker prices. I accept no liability for loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on any information in this report or analysis.