Sunday Candle Stick Patterns

For those with a “fixed” mindset who are not prepared to stretch trading boundaries

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For those with a “fixed” mindset who are not prepared to stretch trading boundaries.

This is not a “I told you so” post to the Negative Nancys but rather one for those on The Path of Learning to keep your mind open, not believe what others say but rather, prove things for yourself. It is also to encourage you to look for YOUR “EDGE”.

It is very important as you are developing as a trader, to be aware of all possibilities in trading, even those that go against “convention”.

Again, I am talking about MY use of Sunday bars. This is NOT a recommended trading style for those on The Path of Learning but something for consideration once your PASR light is burning brightly.

We have been told over and over, not to use Sunday bars and to ignore them. Forex trading convention and the vast majority of Forex traders condemn Sunday bars. I have lost count the number of times I have been told by “so called” experts that Sunday bars do not work and to ignore them. The rebel and contrarian in me does NOTaccept anything I am told unless I can prove it for myself. No-one has been able to convince me that Sunday bars are worthless and for me, I have proven just the opposite over and over, they are very valuable.

Before you even think of considering Sunday bars, you have to understand what YOUR Sunday bar is. If like some, it only consists of 2 hours, then it is not worth considering. My Sunday bar starts with the New Zealand/Australia session and goes right through until midnight NY when my candle for Monday trading prints. This tells me SO much about Asian trading.

So, before me, I have 8 hours of Asian trading information and the “so called” experts want me to ignore it! WHY? Is it because they are ignorant? Is it because they are envious? WHY? Whatever it is, I don’t care, each to his own. If we are to ignore Asian trading on a Sunday, just because it has its own bar, then, if the “so called” experts are to be consistent, they should ignore Asian trading during the week, but they can’t. Not logical for my simple mind!

Now, this is NOT an argument for using Sunday bars. It is for you to always keep your options open and consider all things once your PASR light is on and shining bright. In other words, think outside the box and develop YOUR EDGE.

I only use Sunday bars when everything lines up (including my Momentum, Momentum Cycles and Cycles) and is in confluence and when it does, for me it is a no brainer trade. When they are not lined up it is also very simple – ignore them. Don’t ask for my method because this is for Advanced Strategies only AND providing you have 8 hours of Sunday bars.

I have been very profitable using Sunday bars and for the times they haven’t engaged , I rarely take a loss. There have been a few times when the big boys come in and play their games and their spike fills me and then take me in the opposite direction BUT the beauty of the Sunday bar is that it is usually a small bar meaning my SL is small with very little risk. Another reason why I love Sunday bars so much!

I really didn’t want to show this but feel it necessary to show how powerful it is WHEN everything lines up.

This Sunday is a PERFECT example in using MY Sunday bars (and other studies) when everything is in confluence.

AUDJPY: Filled long at 71.70
AUDUSD: Filled long at 0.7537
CADJPY: Filled long at 81.07
CHFJPY: Filled long at 85.03
EURCAD: Filled short at 1.5779
EURJPY: Filled long at 128.57
GBPJPY: Filled long at 145.30
GBPUSD: Filled long at 1.5217
NZDJPY: Filled long at 55.83
NZDUSD: Filled long at 58.83
USDCAD: Filled short at 1.1729
USDJPY: Filled long at 95.43

All stop orders filled with no losses.

Again, this is NOT to promote Sunday bars but to get you to keep an open mind, challenge everything you are told, don’t believe “so called” experts and prove things for yourself.

And for the Negative Nancys who want to prove me wrong, save your energy. My trading account knows the truth!