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Highest Open / Lowest Open Trade

  • #12,621
  • Apr 4, 2018 7:17am Apr 4, 2018 7:17am
For those interested in the exotic, this 1-2-3 trade could present some HOLO opportunities later...

Attached Image (click to enlarge)
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  • #12,622
  • Apr 4, 2018 7:23am Apr 4, 2018 7:23am
Quoting zxh1828
Is this a valid buy entry? {image}
Well, come on. You tell us. Everyone here understands TooSlow looks to everyone to do their own homework!

Ask yourself:
Have I followed the rules for identifying a set-up?
If so, have the entry criteria been met?
Answer both questions with a ''yes'', then you have a correct entry.

What happens after that, you have zero control over. Price will either have gone your way or not.

Please let us know how it went. Your observations and thoughts will help other newcomers to HOLO.
  • #12,623
  • Apr 4, 2018 7:35am Apr 4, 2018 7:35am
This is the fourth trade. First three don't really count. https://gyazo.com/001348418c8ea16113356789b63cc4ea
  • #12,624
  • Edited 8:49am Apr 4, 2018 8:39am | Edited 8:49am
Lemercenarie: Yes, if using 5 minute open above low H1 open. No, if using 15 minute open above low H1 open.
  • #12,625
  • Apr 4, 2018 12:53pm Apr 4, 2018 12:53pm
Quoting tahquo
Lemercenarie: Yes, if using 5 minute open above low H1 open. No, if using 15 minute open above low H1 open.
15min or 5min (or even 1min) will eventually become a personal choice for you as you gain experience.

There are good reasons why TS will have new players run with the m15 initially.
  • #12,626
  • Apr 4, 2018 1:34pm Apr 4, 2018 1:34pm
This is the fifth trade of ten trade challenge. EurUsd, am winning 4 of 5 so far.
https://gyazo.com/218caf1427c7ac47a17bf38165883e7f
  • #12,627
  • Apr 4, 2018 2:40pm Apr 4, 2018 2:40pm
Quoting tahquo
This is the fifth trade of ten trade challenge. EurUsd, am winning 4 of 5 so far. https://gyazo.com/218caf1427c7ac47a17bf38165883e7f
EU is a very good choice for HOLO because of the way it moves, well done.
  • #12,628
  • Apr 5, 2018 6:07am Apr 5, 2018 6:07am
Quoting lemercenaire
{quote} EU is a very good choice for HOLO because of the way it moves, well done.
Due to my work schedule -- though I live in USA Central time zone -- I am only able to trade during the London market. Hence EUR, GBP, CHF, and USD were only reasonable options. EurUsd has best volume, so was my choice for developing new strategy skills. Next will be EurGbp and GbpUsd -- and perhaps AudNzd. I like AudNzd when major news/reports can shake up the European/Us currencies too much for range trading. Their (AudNzd) mutual trade economy is real, so commerce between the two goes on daily -- unlike other exotic pairs (e.g., GbpCad, AudChf, EurNzd). Sure the exotics have exchange rates, but not based on commerce between them. Exotic exchange rates are based primarily on X/Usd vs. Y/Usd interpolations -- which can yield an exchange rate, but spreads are usually huge.

Notice I ruled out CHF? BIS b.s.

  • #12,629
  • Apr 5, 2018 6:54am Apr 5, 2018 6:54am
Quoting lemercenaire
{quote} 15min or 5min (or even 1min) will eventually become a personal choice for you as you gain experience. There are good reasons why TS will have new players run with the m15 initially.
Yes. Mainly, one only has to check price action every 15 minutes vs. continuously monitoring computer screen for a slightly earlier entry (albeit possibly more risky entry?) on shorter time frames.
  • #12,630
  • Apr 5, 2018 7:30am Apr 5, 2018 7:30am
Quoting tahquo
This is the fifth trade of ten trade challenge. EurUsd, am winning 4 of 5 so far. https://gyazo.com/218caf1427c7ac47a17bf38165883e7f
Uh oh. Lost one. This is the sixth trade of ten trade challenge. EurUsd, am winning 4 of 6 so far. https://gyazo.com/326beed6a38153b60c497bb02fdd841d

Criticism is welcome.
  • #12,631
  • Apr 5, 2018 7:45am Apr 5, 2018 7:45am
While running other stuff, I checked my usual suspects for HOLO opportunities and the first - and best as it turns out - was this one. Shorting the S&P, I was prepared to get in and out quickly. Can always re-enter on another rebound.

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Overview on that...
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  • #12,632
  • Apr 5, 2018 7:46am Apr 5, 2018 7:46am
Quoting tahquo
{quote} Due to my work schedule -- though I live in USA Central time zone -- I am only able to trade during the London market. Hence EUR, GBP, CHF, and USD were only reasonable options. EurUsd has best volume, so was my choice for developing new strategy skills. Next will be EurGbp and GbpUsd -- and perhaps AudNzd. I like AudNzd when major news/reports can shake up the European/Us currencies too much for range trading. Their (AudNzd) mutual trade economy is real, so commerce between the two goes on daily -- unlike other exotic pairs (e.g., GbpCad,...
Lol, you read my mind

Too many shenanigans.

Nice analysis on the use of AN. I admit it's not a pair I look at much but you are right, I probably should.
  • #12,633
  • Apr 5, 2018 7:48am Apr 5, 2018 7:48am
Cable could bring some opportunities later...

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  • #12,634
  • Apr 5, 2018 7:52am Apr 5, 2018 7:52am
Quoting tahquo
{quote} Uh oh. Lost one. This is the sixth trade of ten trade challenge. EurUsd, am winning 4 of 6 so far. https://gyazo.com/326beed6a38153b60c497bb02fdd841d Criticism is welcome.
This was just a bad beat. Nothing wrong with the call. Levels looked good.

I would keep watching though, as it may be building now...

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  • #12,635
  • Apr 5, 2018 7:56am Apr 5, 2018 7:56am
Quoting lemercenaire
{quote} This was just a bad beat. Nothing wrong with the call. Levels looked good. I would keep watching though, as it may be building now... {image}
Had another quick look. Be careful here. H4 chart shows downward pressure on PA.

As an aside, here is a look at the previous HOLO levels, including the one you would have used. S+D gives clues here.

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Definite downwards pressure overall. Not to say you couldn't get something but as with my S&P trade above, you'd always be prepared to run-and-shoot it. Take what you could.
  • #12,636
  • Apr 5, 2018 7:57am Apr 5, 2018 7:57am
Just curious. Does this strategy work for longer term trades as well? e.g. Daily candle HOLO for current month; or 4-hour candle for current week?
  • #12,637
  • Apr 5, 2018 8:16am Apr 5, 2018 8:16am
Quoting tahquo
Just curious. Does this strategy work for longer term trades as well? e.g. Daily candle HOLO for current month; or 4-hour candle for current week?
Yes, it does. That is one of the reasons I was originally drawn to TS' thread here when I first joined FF, as I had used very similar methods on (sometimes very) long time-frames in my previous life as a Fund-Monkey.

Usually the entry was taken as price ''dipped'' over the entry levels, not needing a candle to open etc.
  • #12,638
  • Apr 5, 2018 8:18am Apr 5, 2018 8:18am
Quoting lemercenaire
{quote} Had another quick look. Be careful here. H4 chart shows downward pressure on PA. As an aside, here is a look at the previous HOLO levels, including the one you would have used. S+D gives clues here. {image} Definite downwards pressure overall. Not to say you couldn't get something but as with my S&P trade above, you'd always be prepared to run-and-shoot it. Take what you could.
Got that entry...

Attached Image (click to enlarge)
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  • #12,639
  • Apr 5, 2018 8:19am Apr 5, 2018 8:19am
Quoting tahquo
{quote} Uh oh. Lost one. This is the sixth trade of ten trade challenge. EurUsd, am winning 4 of 6 so far. https://gyazo.com/326beed6a38153b60c497bb02fdd841d Criticism is welcome.
Dun worry tahquo, i lost 2 trades in my 10 trades challenge too. No biggie. Welcome to the thread. ^_^
  • #12,640
  • Apr 5, 2018 8:21am Apr 5, 2018 8:21am
Quoting lemercenaire
{quote} This was just a bad beat. Nothing wrong with the call. Levels looked good. I would keep watching though, as it may be building now... {image}
Lol. Don't think I would have taken this trade ordinarily, but doing the "Ten Trade Challenge", I'm just applying the rules as they occur right now. Although, 0730 ct spike down was contrary to poor USD Unemployment data. New position on new LO could return momentarily for at least one pip gain. Maybe even 5 pip gain. Lost 9.5 pip, though.
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