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Highest Open / Lowest Open Trade

  • #12,361
  • Feb 20, 2018 2:30am Feb 20, 2018 2:30am
Quoting birdland
{quote} why not use more easy available indicators like average true range, ADR or average candle?
Thanks for a hint.

I also have such summary in pdf:
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File Type: pdf market-cycle-times.pdf   108 KB | 1,179 downloads
  • #12,362
  • Feb 20, 2018 7:01am Feb 20, 2018 7:01am
A bit of a cross-post, as this trade came from a conversation started over on the 1-2-3 thread. Thought I'd post it here though.

Attached Image (click to enlarge)
Click to Enlarge Name: .DE30.M5asHOLO20thFeb18.png Size: 35 KB


The H1 overview on that...

Attached Image (click to enlarge)
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EDIT: My entry was on the second dip in, as the first was in a breakout H1 bar.
  • #12,363
  • Feb 20, 2018 7:33am Feb 20, 2018 7:33am
Heads up on UC and GU.
  • #12,364
  • Feb 20, 2018 11:29am Feb 20, 2018 11:29am
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCHF.PNG Size: 48 KB


Goodevening to everyone! can be this a good entry or it's a too much retested area? thankyou
  • #12,365
  • Feb 20, 2018 12:32pm Feb 20, 2018 12:32pm
Quoting ziojhonny
{image} Goodevening to everyone! can be this a good entry or it's a too much retested area? thankyou
There is no set rule on how many times you can go to the well, I'm afraid this comes down to gut and experience.

What I would suggest is that you become very good at reading price-action as for instance on your chart, I'd be looking at the fact that you are beginning to get higher lows and higher highs (and yes, I know it's only on the m5 but the principles remain the same as on the H1 and up).
  • #12,366
  • Feb 20, 2018 12:42pm Feb 20, 2018 12:42pm
Quoting lemercenaire
Heads up on UC and GU.
UC ended up as a 1-2-3, while GU ran HOLO through the arvo and is in a 1-2-3 just now.
  • #12,367
  • Feb 20, 2018 12:53pm Feb 20, 2018 12:53pm
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP1.PNG Size: 25 KB


thank you lemercenaire. another question.
here we have a new lower open, the first 5 minute candle close below , is this consider a right signal? or we must to wait the second 5 minute candle that close below? thank you!
  • #12,368
  • Feb 20, 2018 1:09pm Feb 20, 2018 1:09pm
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 51 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,369
  • Feb 20, 2018 1:12pm Feb 20, 2018 1:12pm
Quoting John.Doe
{quote} Thanks for a hint. I also have such summary in pdf: {image}
The rules provided are all you need to trade this method.
Adding to will only muck things up.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #12,370
  • Feb 20, 2018 1:25pm Feb 20, 2018 1:25pm
Quoting ziojhonny
{image} thank you lemercenaire. another question. here we have a new lower open, the first 5 minute candle close below , is this consider a right signal? or we must to wait the second 5 minute candle that close below? thank you!
Enter on the first available candle. Only thing is, would this move not be in an H1 breakout candle?
  • #12,371
  • Feb 20, 2018 2:46pm Feb 20, 2018 2:46pm
thank you lemercenaire!
  • #12,372
  • Feb 20, 2018 10:27pm Feb 20, 2018 10:27pm
Attached Image (click to enlarge)
Click to Enlarge Name: first trade.PNG Size: 67 KB


First trade of the week 8 pips...
  • #12,373
  • Feb 21, 2018 1:13am Feb 21, 2018 1:13am
Quoting Daddyof41680
{image} First trade of the week 8 pips...
Well done but just watch the warning on the left.
  • #12,374
  • Feb 21, 2018 4:21am Feb 21, 2018 4:21am
Interessante

some other chart with long and short example ?
  • #12,375
  • Feb 21, 2018 7:03am Feb 21, 2018 7:03am
Hello,
this is my first post in this forum and first of all:
I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION

Second: English is not my native language, so sorry for my wording

I´m really interested in this thread and need some additional information to get it right.

1. Rule 6: "One trade per bar": Is it allowed to trade one Level of Interest more than onces, for example in a M5-Ranging Situation?
2. Rule 3: "M5 Bar must open between H1 open and extreme": OK, but do we need a M5 Bar also outside of the Level of Interest befor that Rule is valid.
Example:
- This H1 Bar is a Breakout Bar so trading is not allowed
- Now the new Hour begins and the Open of the new Bar is between the Open and the Extreme of the last Bar. Should I wait for price to leave the Level of Interest or is it allowed to open (a StopOrder) directly after the new Bar appears.

Thank you for your help!
  • #12,376
  • Feb 21, 2018 8:58am Feb 21, 2018 8:58am
Quoting chilli
Hello, this is my first post in this forum and first of all: I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION Second: English is not my native language, so sorry for my wording I´m really interested in this thread and need some additional information to get it right. 1. Rule 6: "One trade per bar": Is it allowed to trade one Level of Interest more than onces, for example in a M5-Ranging Situation? 2. Rule 3: "M5 Bar must open between H1 open and extreme": OK, but do we need a M5 Bar also outside of the Level of Interest befor...
Hi chilli. Welcome to the thread and HOLO.

To answer your questions:

1: Take as many entries as you like, there is no set rule. However, as in answer to a post above, be careful of going to the well too often. Pay attention to price-action etc, not only on the m5 chart but on the higher time-frames.

2: The situation you are describing is a 1-2-3 trade.
  • #12,377
  • Feb 21, 2018 9:09am Feb 21, 2018 9:09am
Been herding this one along all day...
Attached Image (click to enlarge)
Click to Enlarge Name: S&P500M5asHOLOranallday21stFeb18.png Size: 32 KB


While this one took all day to give a true entry...
Attached Image (click to enlarge)
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  • #12,378
  • Feb 21, 2018 11:28am Feb 21, 2018 11:28am
Hi,
i was stopped out with +1 pip
how do you consider this entry?
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD2.PNG Size: 58 KB
  • #12,379
  • Feb 21, 2018 11:44am Feb 21, 2018 11:44am
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD2.PNG Size: 58 KB

what do you think about this?
  • #12,380
  • Feb 21, 2018 12:24pm Feb 21, 2018 12:24pm
@ ziojhonny, you're entering on very high risk set-ups...

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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As for whether they are legit entries otherwise, run through your checklist. Are all your conditions met? Did you place your trade accordingly? You need to help yourself by taking responsibility for your own trades. That is the best way to learn...by doing.

Even after getting everything ''right'', you may still have a losing trade. That's the name of the game. We suck it up and go at it again.

Keep at it. You'll get there.
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Darryl