No Indicators Trading Strategy - 2013-01-13 538x218

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

A focus on EURUSD this week, first the 15 Minute chart then the 1 Hour & Daily.

Those holding the Long position from the previous Friday afternoon will still be Long after doing very little (except for moving their Stop a few times). Current stop is 180+ PIPs in the money.

No Indicators Trading Strategy - 2013-01-13 - EURUSD 15 Minute Chart

I have been waiting a while now for this to occur and it is the reason I focused on EURUSD this week.  On the 1 Hour chart you can see how on occasion, when trading the same instrument on different timeframes, the same trading results can occur.

Generally though you would expect tighter Initial and Trailing Stops on the lower timeframe and because of this you would expect to be in and out of more trades.

No Indicators Trading Strategy - 2013-01-13 - EURUSD 1 Hour Chart

Last but not least, EURUSD on the Daily chart as Fridays Price action means that the Current Stop for the Long trade opened in September last year is now “in the money”.

No Indicators Trading Strategy - 2013-01-13 - EURUSD Daily 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.