No Indicators Trading Strategy - 2014-03-02 538x218

No Indicators Trading Strategy (NITS) Weekly Report – 2-Mar-14

No change this week – GBPUSD (still Long), EURUSD (still Long) & EURJPY (still Short) on the 4 hour chart, where, using NITS, I am “always in”.

Still in the same 3 trades from last week, perhaps we are about to see those trends return so we can move into profit on the 4 hour timeframe (across the 3 pairs) this year. By being “always in” at least we know we will catch those trends when they do come.

On GBPUSD, we remain Long with a move up to a new high still required to enable us to move our Initial Stop.

Those not yet in this trade would have to wait to a pullback to 1.6675.

No Indicators Trading Strategy - 2014-03-02 - GBPUSD 4 Hour Chart

On EURUSD, we remain Long and after making a new high we have been able to move our Initial Stop to the point where we have reduced our risk by at least 60% on this trade.

Those not yet in this trade would have to wait to a pullback to 1.3745, you could then employ an Initial Stop below the most recent HL (shown).

No Indicators Trading Strategy - 2014-03-02 - EURUSD 4 Hour Chart

Our first EURJPY trade of the new year (Short) is still in play.  Our Stop has now been trailed to reduce risk to almost break-even.  We have seen a substantial pullback now and almost got taken into a new Long trade this week (as we almost did last week too) – However, for now, we remain Short.

No Indicators Trading Strategy - 2014-03-02 - EURJPY 4 Hour 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.