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Highest Open / Lowest Open Trade

  • #12,321
  • Feb 13, 2018 3:43am Feb 13, 2018 3:43am
I don't usually look at this pair at this time but it showed a nice entry set-up backed by the Supply Zone. As such, it was worth a look and it paid off ok.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM5backedbyS+Dnicedropentry13thfeb18.png Size: 39 KB
  • #12,322
  • Feb 13, 2018 3:47am Feb 13, 2018 3:47am
Quoting lemercenaire
I don't usually look at this pair at this time but it showed a nice entry set-up backed by the Supply Zone. As such, it was worth a look and it paid off ok. {image}
The m15 chart looks a bit cleaner on that move...
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM15givesacleanerlookHOLO13thFeb18.png Size: 37 KB
  • #12,323
  • Feb 13, 2018 5:56am Feb 13, 2018 5:56am
+110 from yesterdays EC HOLO-long trade. closed before the R-area:
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trading is like dancing, don't think and just listen to the music!
  • #12,324
  • Feb 13, 2018 6:46am Feb 13, 2018 6:46am
Too slow.i like your strategy but sometimes the SL can be very big,thats scarey ! :-]
  • #12,325
  • Feb 13, 2018 8:01am Feb 13, 2018 8:01am
Quoting nozzer
Too slow.i like your strategy but sometimes the SL can be very big,thats scarey ! :-]
Don't take the scary ones then. Wait for a set up that suits your risk tolerance.

Rule #5
  • #12,326
  • Feb 13, 2018 8:05am Feb 13, 2018 8:05am
Could be a chance to pick up a quick long on AU.
  • #12,327
  • Feb 13, 2018 8:07am Feb 13, 2018 8:07am
Quoting lemercenaire
{quote} Don't take the scary ones then. Wait for a set up that suits your risk tolerance. Rule #5
i agree. you are not "forced" to take setups with large SL...
trading is like dancing, don't think and just listen to the music!
  • #12,328
  • Feb 13, 2018 9:19am Feb 13, 2018 9:19am
Quoting lemercenaire
Could be a chance to pick up a quick long on AU.
Went into 1-2-3 land.

Could still be a chance later.
  • #12,329
  • Feb 13, 2018 10:46am Feb 13, 2018 10:46am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 46 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,330
  • Feb 13, 2018 3:19pm Feb 13, 2018 3:19pm
Quoting lemercenaire
{quote} Hi again. All this means is that if the active candle has gone on to either a new high or new low, then it is a good idea NOT to enter. Reason being that you are potentially going to be entering a reversal trade in a move that could be running away in the wrong direction. If the H1 bar goes on to breakout (to make a new high or low), then you could now look at going over to a 1-2-3 set-up.

Hello lemercenaire you say me this: "All this means is that if the active candle has gone on to either a new high or new low" it's mean a new daily low or new daily High?

Sorr y read some threads, but my problem it¡s english sorry and thank you for your patience . But for example if last candle made a new low or high daily and the next candle open between H1 LOWER OPEN and new daily low made last candle you don't enter to a trade in these new candle because i put a buy stop order you wait a 1-2-3 setup? i hace so much information in my mind now. Today i've read 1-2-3 system, but i think i need practice and read, but sometimes i don't understand well all. Thank you lemercenaire
  • #12,331
  • Feb 13, 2018 5:35pm Feb 13, 2018 5:35pm
Quoting jaimeale
{quote} Hello lemercenaire you say me this: "All this means is that if the active candle has gone on to either a new high or new low" it's mean a new daily low or new daily High? Sorr y read some threads, but my problem it¡s english sorry and thank you for your patience . But for example if last candle made a new low or high daily and the next candle open between H1 LOWER OPEN and new daily low made last candle you don't enter to a trade in these new candle because i put a buy stop order you wait a 1-2-3 setup? i hace so much information...
Stick to one method for now. Either HOLO or 1-2-3. That will save you becoming confused.

Yes, the new high or low is the new DAILY high or low.
  • #12,332
  • Feb 13, 2018 5:58pm Feb 13, 2018 5:58pm
I have been trying this method for the last couple of days...... currently up a couple of pips. The question I have is in your opinion are the Asian h1 trades less reliable or should we only trade during the London and NewYork sessions? Thanks in advance.
  • #12,333
  • Feb 14, 2018 1:58am Feb 14, 2018 1:58am
Quoting Daddyof41680
I have been trying this method for the last couple of days...... currently up a couple of pips. The question I have is in your opinion are the Asian h1 trades less reliable or should we only trade during the London and NewYork sessions? Thanks in advance.
Hi there.

This question has been dealt with a few times through the life of the thread. I don't have links to the exact posts, however.

To answer quickly as we're coming up to the UK Open, there are a couple of aspects to keep in mind. One is that there is no reason why you shouldn't trade the Asian session. Trade what you see. There will be a Daily High a Daily Low and a range in between. However, for sure the liquidity will be less, at least after the initial Open period and spreads are generally higher.

Also, the Daily start and end periods will be different to those you will see most of us using here.

All of this is assuming that you are trading from the Asian session area and not here or the US but just trading the session.

To get round some of those issues, we suggested that you could have your charts set up via a UK (or US) broker but place your trades on your local broker.

In the end, you will just have to suck it and see - as it is a very personal decision.
  • #12,334
  • Feb 14, 2018 8:45am Feb 14, 2018 8:45am
here a good example of this NJ low risk HOLO-short trade:
the initial stop was about 7 pips and the profit 10 times larger.
(stopped out with trailing stop for +67)
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYH1.png Size: 58 KB
trading is like dancing, don't think and just listen to the music!
  • #12,335
  • Feb 14, 2018 10:05am Feb 14, 2018 10:05am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 50 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,336
  • Feb 14, 2018 10:07am Feb 14, 2018 10:07am
Quoting Daddyof41680
I have been trying this method for the last couple of days...... currently up a couple of pips. The question I have is in your opinion are the Asian h1 trades less reliable or should we only trade during the London and NewYork sessions? Thanks in advance.
Usually, during the first 4 - 8 hours of the new trading day, trade away from the daily open. Price needs to range a tad. After price ranges for a while, the reversals off the daily high and daily low, trading toward the daily open, are more likely to be profitable.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,337
  • Feb 14, 2018 12:59pm Feb 14, 2018 12:59pm
Out most of the arvo after lunchtime but came back in to this near-perfect set-up...

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM5asHOLOoutmidarvo-backforthis14thFeb18.png Size: 42 KB
  • #12,338
  • Feb 14, 2018 1:07pm Feb 14, 2018 1:07pm
Quoting lemercenaire
Out most of the arvo after lunchtime but came back in to this near-perfect set-up... {image}
That's me out...

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM5that'smeout14thFeb18.png Size: 43 KB
  • #12,339
  • Feb 14, 2018 2:06pm Feb 14, 2018 2:06pm
Quoting TooSlow
{quote} Usually, during the first 4 - 8 hours of the new trading day, trade away from the daily open. Price needs to range a tad. After price ranges for a while, the reversals off the daily high and daily low, trading toward the daily open, are more likely to be profitable.

Thanks Alot for the great info!
  • #12,340
  • Feb 15, 2018 3:00am Feb 15, 2018 3:00am
Was checking AU for another method and this HOLO set up was right there. Worked out well and again, right place, right time...

Attached Image (click to enlarge)
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