So they say Monday is not the ideal day to trade due to its volatility.
If yes, only trade after Monday. But, on what basis should we open any trade after Monday? My idea is all transactions after Monday (i.e., Tuesday) can simply be possibly opened because we utilize preceding Monday's price action, which is quite low in its price movement.
If we compare Mondays PA with Tuesdays', Wednesdays' and Thursdays', those middle days of a week show higher volatility. A generalized conclusion is there's always a breakout after Monday. Call it a fact for simplicity's sake.
That takes me to a notion to buy in the breakout of the prior Mondays highest and to sell in the breakout of the prior Mondays cheapest.
Mondays are not always useless, are they?
I dont know whether there's already a system doing exactly the same thing. Let me know if there actually is. Meanwhile, let me just pretend mine is the very first to use Mondays highest/lowest as a breakout criteria.
Anyway, I open this thread to share the idea with you . Its ours now. Please, share your ideas.