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Highest Open / Lowest Open Trade

  • #12,161
  • Jan 15, 2018 1:52am Jan 15, 2018 1:52am
Quoting 2dollardog
{quote} The trade setup (if I understand it correctly) is to utilize the highest open and/or the lowest open for that entire day. Yeah, as I watch, I often make assumptions on that high and low and can see where pips can still be made. If I understand it correctly (and I'm not certain I do) removing myself to trading only the highest open and/or the lowest open of the day increases the odds of success and, especially, minimizes risk. It also reduces the opportunities. However, too slow's other thread and its trade setup allow for more frequent setups....
Correct. You are trading the NEWEST Higher / Lower H1 Open for that trading day. Once this level has been established, you are waiting for a new 15 min (or 5 min if that's your preference) to open between that level and the extreme. Once that happens, you will enter as price crosses back over that level.

The only caveat to this is if the H1 bar is a breakout bar. With experience on your side, you can trade this but it is not advised.

1-2-3 takes advantage and trades these breakout bar set-ups.
  • #12,162
  • Jan 15, 2018 1:55am Jan 15, 2018 1:55am
Quoting 2dollardog
The period in the middle is January 11, 2017 I know which one is the highest (after the fact, of course). The highest open is only higher to the 5th decimal. My question: Does this higher 5th decimal matter. If so, why? If not, why not? {image}
If it's higher, it's higher. There's no confusion here.

If you wish to measure to the fourth decimal only, that's your call.
  • #12,163
  • Jan 15, 2018 10:44am Jan 15, 2018 10:44am
Price made a good move - but did not fit my entry criteria, I also don't like taking chances on a Monday with no news. I wasn't around for the 123 on UJ either. Always tomorrow.
  • #12,164
  • Jan 15, 2018 12:26pm Jan 15, 2018 12:26pm
Attached Image (click to enlarge)
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Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY. You may find your results may differ. Please check with an accredited financial specialist before using real money. FOREX trading can be risky. YOU HAVE BEEN WARNED!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,165
  • Jan 15, 2018 1:54pm Jan 15, 2018 1:54pm
Quoting TooSlow
{image} Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY. You may find your results may differ. Please check with an accredited financial specialist before using real money. FOREX trading can be risky. YOU HAVE BEEN WARNED!
messy day for me took one loss. at 8 pips
  • #12,166
  • Jan 17, 2018 11:24am Jan 17, 2018 11:24am
Trail Hit +7
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  • #12,167
  • Jan 17, 2018 12:16pm Jan 17, 2018 12:16pm
Quoting wannalearn12
Trail Hit +7 {image}
Now I am really slapping myself
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  • #12,168
  • Jan 17, 2018 3:00pm Jan 17, 2018 3:00pm
If you're not scared of breakout territory audusd would have been very nice.

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  • #12,169
  • Jan 17, 2018 5:10pm Jan 17, 2018 5:10pm
Quoting zortan
If you're not scared of breakout territory audusd would have been very nice. {image}
Or just take it as a 1-2-3 set-up.
  • #12,170
  • Jan 18, 2018 5:47am Jan 18, 2018 5:47am
Hey guys
First of all nice strategie.
Can somebody help me to show an long setup ?
Is it then with the highe h1 clos instead of open ?

has anyopne and indicator for that ? or everytrhing is going manuelly with you 5 fingers ?

Best Regards (Y)
  • #12,171
  • Jan 18, 2018 5:53am Jan 18, 2018 5:53am
and what happened if the new h1 opened samed with last but makes a new high and then goes unter the open h1 high ?
  • #12,172
  • Jan 18, 2018 12:30pm Jan 18, 2018 12:30pm
Scanning the End-of-Day charts and this one fell into my lap. Strictly speaking, it's in a breakout bar, however the surrounding information from S+D, price-action etc, on both the H1 and the H4 gave me the confidence to take it.

Attached Image (click to enlarge)
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Wide view...

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  • #12,173
  • Jan 18, 2018 2:30pm Jan 18, 2018 2:30pm
Quoting lemercenaire
Scanning the End-of-Day charts and this one fell into my lap. Strictly speaking, it's in a breakout bar, however the surrounding information from S+D, price-action etc, on both the H1 and the H4 gave me the confidence to take it. {image} Wide view... {image}
The only other set-up I picked up was this one. Even then, I missed the original move and only got in on the second bounce (though actually, the Demand Zone there added more weight to my decision to go in, so for me, it was actually a stronger entry).

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Overview...
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  • #12,174
  • Jan 18, 2018 6:40pm Jan 18, 2018 6:40pm
Hello

I am still learning the strategy and I am trying to setup my chart.
Can someone help me, what's the name of the indicator on the far right for the rules and for the currency symbols, i want to add this two indicator on my chart.

Thanks

Regards
Phumza
Attached Image (click to enlarge)
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  • #12,175
  • Jan 19, 2018 5:32am Jan 19, 2018 5:32am
17th Jan - EU 15 minute - entry candles with arrows, thick blue line are entry points

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18th Jan - EU 15 minute

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  • #12,176
  • Jan 19, 2018 5:43am Jan 19, 2018 5:43am
EG 15 minute, trade on present bar, didn't stand a chance if you took it

Question - if you have several ranging bars like there is here do you still take trades? any personal preferences?

Attached Image (click to enlarge)
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  • #12,177
  • Edited 7:53am Jan 19, 2018 5:52am | Edited 7:53am
Quoting zortan
EG 15 minute, trade on present bar, didn't stand a chance if you took it Question - if you have several ranging bars like there is here do you still take trades? any personal preferences? {image}

I always keep a close look at importent new's Announcements! This morning GBP Retail sales was reliesed! This help me to stay away from those pairs and trade other!!

Wapen

edited spelling as sugested by mosiskv!!!!
  • #12,178
  • Jan 19, 2018 5:53am Jan 19, 2018 5:53am
Quoting Phumza
Hello I am still learning the strategy and I am trying to setup my chart. Can someone help me, what's the name of the indicator on the far right for the rules and for the currency symbols, i want to add this two indicator on my chart. Thanks Regards Phumza {image}
Hi Phumza

Check post 7610
If you want notes indicator check here: https://www.forexfactory.com/showthread.php?t=560852
Also use paperclip above and read post 1

Cheers
Don't limit yourself!!
  • #12,179
  • Jan 19, 2018 6:24am Jan 19, 2018 6:24am
Quoting Wapen
{quote} I always keep a close look at impotent new's releases! This morning GBP Retail sales was reliesed! This help me to stay away from those pairs and trade other!! Wapen
The trade was a couple of hours after the news release
  • #12,180
  • Jan 19, 2018 7:27am Jan 19, 2018 7:27am
Quoting zortan
17th Jan - EU 15 minute - entry candles with arrows, thick blue line are entry points {image} 18th Jan - EU 15 minute {image}
On EU, I would have been expecting an upwards march all day today, continuing the move from the last couple of days, until price reached the Supply Zone. As such, I would have looked for quick-hitting 1-2-3 trades and not HOLO until then.

Attached Image (click to enlarge)
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The same holds true for EG and there's still lots of room to go there.

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It really does help if you work on developing an ability to read the surroundings and not simply pick every trade the indi presents. Also the fact that you have doubled-down on the Euro, isn't always wise.

Keep at it, though, you'll get there
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