The Monday Accelerator

[Mysticforex 13]

A few weeks ago we did a thread on trading to the weekly pivot on GBP/CHF. The trade will usually open and close on Monday, thus the new name "The Monday Accelerator"

There is one trade a week. Of the 4 weeks we had three trades open and win, and one trade that did not open.

It has been suggested that we try it with pairs other than GBP/CHF, something I have never tried. Thus the name change to the thread.

So starting tonight when the Weekly Pivot prints we are going to try it on 2 or 3 pairs.

One will always be the GBP/CHF for use as a base line. Tonight I thought we would try the AUD/JPY as well. If you have pair you would like to see let me know. Just bear in mind that pairs known for their explosive volatility work best.

 

You can refer to the original thread for some backround information.http://www.traderslaboratory.com/forums/forex-trading-laboratory/17399-gbp-chf-weekly-pivot.html

[Mysticforex 13]

The Weekly Pivot has just printed on GBP/CHF at 14475. Price is currently at 14434...

less than 50 pips away. There is no GAP. So far the weekly low is 14418. I would like to see price make a lower low so I can place an entry order at 14425 with a TP of 40 pips ( a 10 pip buffer before the Weekly Pivot ). I hope price does not go right to the WP ( this is what we will call the Weekly Pivot from now on ).

 

 

AUD/JPY : The WP on AUD/JPY is at 9404. Price is currently at 9347 so we have 50 pips to enter a buy toward the WP. We have a GAP which happens to be 9328, also the daily pivot. I will set the entry order AFTER price has filled the GAP and hit the daily pivot.

 

( BTW you can have MT4 send an email to your cell with price alerts ).

[Mysticforex 13]

As I feared, GBP/CHF ran away from us and went straight to the WP.

In the past there have been times when it was thought I was a bit too conservative by my peers. But I made a vow years ago never to chase a trade. There's more where that came from.

 

 

Meanwhile back at AUDJPY headquarters, It's not doing anything that makes me feel warm and cozy. It is moving toward the WP, just not as directly as the GBP/CHF. I'll have to give this one more time to get to know it. We will hold it over for next week. I would also like to add EUR/AUD and my old friend GBP/JPY for a total of 4 pairs ( we always include GBP/CHF ).

[Mysticforex 13]

AUD/JPY is now at 9349 . The WP ia at 9413 . We can now place an entry order at 4363 trading toward the WP. The WP is 50 pips away from our enter, but we will be using a 10 pip buffer to take in account any variations in different acct platforms.

[Mysticforex 13]

Still waiting for our entry to be picked up....

I don't usually follow this pair, it's like watching paint dry.

[Mysticforex 13]

Weds beginning and still no entry. We will keep the entry in place thru EOB EST thur at least. For next week I think AJ will be dropped from our repertorire. For next week we will add the eur/aud and the gbp/jpy. The eur/aud is a pair I love to hate so thought I would throw that in to prevent from becoming too one sided.

 

BUT WAIT ! THERE'S MORE !!!

 

Since we are adding G/J to the mix I am going to tell about a gimmick we can do if/when G/J ever reaches R3 or S3. If I tell you now you won't have to read this thread anymore because you will have become The Master of Life, The Universe . . . Everything !

[Mysticforex 13]

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Well our entry has finally triggered. I can't say I am completely confidant with this position opening on a Weds, it is called the MONDAY accelerator for a reason. But, a plan is a plan. We will see.

[Mysticforex 13]

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Stopped out at 9306 -55 Pips.

[Mysticforex 13]

So for this coming week we will be doing GBP/CHF, GBP/JPY, and EUR/AUD.

When I set up the trades on Sunday Evening I will explain what we can do on G/C and G/J usinf R3 and S# if a runnaway condition occurs.

[Mysticforex 13]

Good Day ! Everyone ready for a new work week? I hope everyone had a great weekend !

 

 

This week we are covering our baseline pair GBP/CHF, and adding GBP/JPY and EUR/AUD to the mix.

 

GBP/CHF: WP is at 14494, price is currently at 14527. I am placing an entry order at 14544 with a TP 10 pips before the WP at 14504

 

 

GBP/JPY: The WP is at 15739, price is at 15717. we are too close to the WP to place an order. I will be watching this and if we move far enough from the WP I will place an entry order.

 

 

EUR/AUD: The WP is at 14345. Price is at 14252... plenty of room her to place an order at 14295 with a TP 10 pips before the WP at 14335 for 40 pips.

To be honest I have always been a bit shy with this pair having taken a beating with it early in my trading career. Let's see what happens.

 

Keep you posted as things develop .

[Mysticforex 13]

GBP/CHF has opened. Currently down 22 pips.

[Mysticforex 13]

I had to go out for most of the day... was not able to update earlier.

 

GBP/CHF is still open and up 10 pips as I type. Since this is the "Monday" Accelerator I am inclined to close it and take the 10 pip profit.

 

EUR/AUD has not yet triggered.We are still 85+ pips away so we will keep it open and see what develops tomorrow .

 

GBP/JPY went right to the WP. Too bad we didn't have room to place a trade, but, rules are rules.

[Mysticforex 13]

Good thing we bailed when we did on GBP/CHF...Iturned around and went in the wrong direction away from the WP. I am going to set up another entry on this pair. The usual 50 pips from the WP, after all, it has still not hit the WP and we have plenty of room.

 

EUR/AUD : Almost in exactly the same place as yesterday. We will leave this open anorther day and see what happens.

[Mysticforex 13]

Not much change since yesterday. We have 2 pending entries. If we have no action by the end of NY today we will shut it down and look foward to next week.

 

I am thinking of try it Gold vs USD next week.

[Mysticforex 13]

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The rules dictate ( yes, there are rules to this gimmick ) that any unopened trades be shut down by Friday. So that's a wrap for this week people.

 

Next week we will be doing GBP/CHF, and GOLD. If anyone has a pair they would like to try let me know.

[Mysticforex 13]

GBP/CHF:

 

The WP is at 14699. Current price is at 14767, more than 50 pips away. So we will place an order at 14750 with a TP at 14710 ( 10 pip buffer from the WP).

 

Gold: The WP is at 1297.77 We have placed a buy entry at 1297.11 with a TP 40 cents above . I have never traded Gold before, we will see what happens.

[Mysticforex 13]

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GBP/CHF opened at 02:51 EST. currently up 6 pips.

[Mysticforex 13]

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GBP/CHF: TP is hit, +40 pips.

 

GOLD: From my point of view, nothing to speak of.

[Mysticforex 13]

GBP/CHF: Continues to break down. Wouldn't be at all surprised to see it hit last weeks WP at 14497.

[Mysticforex 13]

Our GBP/CHF trade this week was just the way I like them, fast and sweet.

Our Gold position is going nowhere so we will close it.

 

 

Next week we will have of course the GBP/CHF. Since their have been no requests I was thing maybe EUR/USD.

[Mysticforex 13]

Hi everyone,

 

GBP/CHF We have placed a pending short at 14745. The WP is at 14695 so our TP will be at 14705 ... . . just got in by the skin of our teeth.

 

 

EUR/USD: the other pair we picked for this week. Now I remember why we havn't traded the Monday Accelerator with it in the past, not enough range or volatility . The WP is at 13449 , price is at 13482. Too close to get a trade in. Nevertheless, we will watch it and if we get enough room we will stick a toe in the water.

[Mysticforex 13]

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GBP/CHF order has filled. Currently down 5 pips.

[Mysticforex 13]

GBP/CHF: TP hit at 14705 40 pips profit.

[Mysticforex 13]

Another good week for the Monday Accelerator.

I will continue posting it thru the month of November. So far it has proved to be a nice little trick. We have missed getting in a couple of times, but those we got in, produced.

Again, only with the GBP/CHF. It just does'nt prove fruitful with other pairs. As usual if there are any requests for other pairs let me know and we will give them a shot.

 

For December we are trying to get together a contest. I will be using the MA on the contest.

 

If anyone would like to try a hand at running the "Accelerator" thread let me know. This way you can be sure you are setting it up accurately for your own testing or live trading.

 

PS: The remainder of November will be weird with the major US holiday. I normally take this week off from trading. We will see what happens.

[Mysticforex 13]

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Looks like we are closed out this week. Price has already been within 10 pips of the WP.

So no setup currently. Really don't see much happening as we move thru the week, with a Major holiday in the US probably extending into a long weekend for most. We will of course keep an eye open.