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Highest Open / Lowest Open Trade

  • #13,181
  • Aug 6, 2018 3:23am Aug 6, 2018 3:23am
Looking back to the 4 hr chart to the 19th June cable might start going back up.
I will wait and see at 10 am
  • #13,182
  • Aug 6, 2018 4:51am Aug 6, 2018 4:51am
Quoting kevin1959
Looking back to the 4 hr chart to the 19th June cable might start going back up. I will wait and see at 10 am
I'd say at the moment (10:47 uk time), there was still a good bit of room below to move into, with levels to watch at 2925 first and then 2885.

Not likely to do that all in one go, even if it does go all the way down however. 2956 is an obvious bounce-point.

So probably opportunities just not necessarily very long lasting ones.
  • #13,183
  • Aug 6, 2018 6:39am Aug 6, 2018 6:39am
Hi Lem
Thanks for the reply.
Did you get thoss levels of the weekly charts ?
Regards
Kev
  • #13,184
  • Aug 6, 2018 6:48am Aug 6, 2018 6:48am
Unfortunately I missed the buy trades at 10.00 am.
I could have bought at 1.2962 at 10. 15 or 10.30 for 5 pips, or left it and it would have hit the stop loss.
Cable is still making lower opens , and lower lows, IllI wait and see what happens after 13.00 hrs
Regards
Kev
  • #13,185
  • Aug 6, 2018 7:08am Aug 6, 2018 7:08am
Bought just after 13.00 for 1.2935 take profit 1.2940 stop loss 1.2920
  • #13,186
  • Aug 6, 2018 8:21am Aug 6, 2018 8:21am
Stopped out minus 20 points, I can't remember if I am supposed to let the 15 min bar close above the lowest open.
I'll check tonight when I get home.
Cable at 14.00 hrs uk time made another lower open, but did not go into the area of interest so I'll wait and see what happens at 15.00 hrs.
  • #13,187
  • Aug 6, 2018 11:10am Aug 6, 2018 11:10am
What I had forgotten about is to be careful if price moves out of the daily range, this happened around 9.00am this morning.
  • #13,188
  • Aug 6, 2018 12:17pm Aug 6, 2018 12:17pm
Quoting kevin1959
Hi Lem Thanks for the reply. Did you get thoss levels of the weekly charts ? Regards Kev
The levels are from the H4 and ADR..
  • #13,189
  • Aug 6, 2018 12:20pm Aug 6, 2018 12:20pm
Quoting kevin1959
Stopped out minus 20 points, I can't remember if I am supposed to let the 15 min bar close above the lowest open. I'll check tonight when I get home. Cable at 14.00 hrs uk time made another lower open, but did not go into the area of interest so I'll wait and see what happens at 15.00 hrs.
You must have an m15 (or m5) bar close inside the Area of Interest (so in this case, below the Lower Open and above the Low) but once that happens, you are trading price, not bars.
  • #13,190
  • Aug 6, 2018 3:20pm Aug 6, 2018 3:20pm
Quoting lemercenaire
{quote} The levels are from the H4 and ADR..
Thanks Lem
I have two trendlines roughly at the top and bottom.
price has bounced on the bottom one.
Regards
Kev
  • #13,191
  • Aug 6, 2018 3:24pm Aug 6, 2018 3:24pm
Quoting lemercenaire
{quote} You must have an m15 (or m5) bar close inside the Area of Interest (so in this case, below the Lower Open and above the Low) but once that happens, you are trading price, not bars.
Thanks Lem.
I thought I had read somewhere in the thread to let the 15min bar close above price, but thinking about it it didnt make any sense if following the rules.
I am at work for most of the trading day. and have to rely on my tablet which is not ideal way to trade.
Regards
Kev
  • #13,192
  • Aug 6, 2018 11:22pm Aug 6, 2018 11:22pm
Morning everyone.
Trading Cable
5.20am UK time
Price is between 1.2936 and 1.2948
It is within yesterdays range.
I made a few mistakes yesterday, and 20 points down.
regards
Kev
  • #13,193
  • Aug 7, 2018 12:10am Aug 7, 2018 12:10am
Quoting kevin1959
Morning everyone. Trading Cable 5.20am UK time Price is between 1.2936 and 1.2948 It is within yesterdays range. I made a few mistakes yesterday, and 20 points down. regards Kev
Hello fellow trader,

It looks like cable can't penetrate this point ( 1.2950 ) after always failing in 14 attempts. Most likely it will continue fall and if it can break yesterday's low then it can go to S1 (1.2905) or even to S2 (1.2869).

Happy trading.
  • #13,194
  • Aug 7, 2018 3:24am Aug 7, 2018 3:24am
Hi everyone.
Price broke to the upside at 7.00 am. Higher high at 1.2973.
A new higher open at 8.00 am 1.2970.
Area of interest very small so I'll leave it alone.
No red news, probably see what happens at 13.00 hrs
Regards
Kev
  • #13,195
  • Aug 7, 2018 3:27am Aug 7, 2018 3:27am
Quoting Cm7
{quote} Hello fellow trader, It looks like cable can't penetrate this point ( 1.2950 ) after always failing in 14 attempts. Most likely it will continue fall and if it can break yesterday's low then it can go to S1 (1.2905) or even to S2 (1.2869). Happy trading.
Hi cm7
Thanks for your reply
I'll certainly watch out for that low break
Regards
Kev
  • #13,196
  • Aug 7, 2018 7:31am Aug 7, 2018 7:31am
Quoting kevin1959
{quote} Hi cm7 Thanks for your reply I'll certainly watch out for that low break Regards Kev
Hi Kev,

I already Short from 1,29664
Target 1,28601
SL 50 pips

Best regards
  • #13,197
  • Aug 7, 2018 8:55pm Aug 7, 2018 8:55pm
Quoting Cm7
{quote} Hi Kev, I already Short from 1,29664 Target 1,28601 SL 50 pips Best regards
Good morning fellow traders,

I've closed this position as I trade in daily chart. + 24 pips is good enough.

I am going to sell it again from 1.29655 with target 150 pips and stop 30 pips.

Happy trafding
  • #13,198
  • Aug 7, 2018 9:45pm Aug 7, 2018 9:45pm
Daily chart
Attached Image
  • #13,199
  • Aug 7, 2018 11:15pm Aug 7, 2018 11:15pm
Morning everyone.
Trading Cable
UK time is 5.07 am
Higher open at 1.2950 on the 5.00am bar
Higher high has not altered at 1.2953.

Didnt manage to post much yesterday as it was a busy day at work.
I managed to gain 8 point,s from yesterdays 8.00am bar

Regards
Kev
  • #13,200
  • Aug 7, 2018 11:21pm Aug 7, 2018 11:21pm
Quoting Cm7
{quote} Hi Kev, I already Short from 1,29664 Target 1,28601 SL 50 pips Best regards
Hi cm7
Hope you are well, and thanks for your reply.
I am trying to get my head around TooSlow's method which is trading from the lower open, or higher open.
Their is 2 very good walkthrough's of his method on page 1, and the rest of the thread has some very good advice.
Regards
Kev
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