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Highest Open / Lowest Open Trade

  • #13,261
  • Aug 10, 2018 7:38am Aug 10, 2018 7:38am
Quoting kevin1959
{quote} Hi Newt. You have just cost me 26 pips lol have a good weekend regards kev
Haha sorry talking you into not taking the trade, I only wanted to help
  • #13,262
  • Aug 10, 2018 8:09am Aug 10, 2018 8:09am
Quoting Newt
{quote} Haha sorry talking you into not taking the trade, I only wanted to help
Hi Newt only joking
and I am really grateful for your help
Regards
Kev
  • #13,263
  • Aug 10, 2018 9:45am Aug 10, 2018 9:45am
Quoting lemercenaire
{quote} Ok. Here we go. If I'm reading all of this right, I would say that: 1: Candle "C" then went up for some 10 pips and receded through its open @ 12639 ( Black line ending at "G") - Was entry legit for short? Yes, that was a legit entry. 2: Candle "E"... Candle 'E' is a breakout candle. Wouldn't be traded. 3: Candle "F" has a spike of 17 pips and once again taking M-15 into consideration, I took that short at the open of that candle - marked in Yellow. Right. As I read this, it seems like we have 'E' and 'F' mixed up? Can you read the above...
========
Hi Lemercenaire,
First of all my sincerest apologies for messing up my logic in the first image; here is the corrected version and with questions re-posted from your reply in #3.
#2. Candle "E" is now "F" and the "break-out"-candle - thanks for reinforcing that again.
Would candle "G" open have been acceptable?
The Yellow and Black horizontal lines are extensions of the Openings of their respective candles so that I could ask the question whether Candle "D" open would have been correct taking into consideration that the wick was higher low from both candles "B" & "C" or should I have waited for Candle "E" and take the trade when it crossed the open of candle "C" which is marked in Black.

I do appreciate your time and expertise and respect the fact that you are also a full-time trader.
This morning I was in a quandary with a gap open, but managed to overcome the initial uncertainty timeously.
Enjoy your weekend.
Attached Image
Hercs
  • #13,264
  • Aug 10, 2018 11:14am Aug 10, 2018 11:14am
looks like the US session is the worst for this strategy in all days of the week
for sixth time it fails and hit stop loss after the setup fails
anyone notice that or its just me
Investing is SIMPLE but NOT EASY
  • #13,265
  • Aug 10, 2018 11:25am Aug 10, 2018 11:25am
Molly, I too have had trouble at times this week during the US session, but hear me now and believe me later, it's us, not the strategy.
  • #13,266
  • Aug 10, 2018 11:38am Aug 10, 2018 11:38am
Quoting pipsMEup
Molly, I too have had trouble at times this week during the US session, but hear me now and believe me later, it's us, not the strategy.
yeah i know its the US session i didn't mention anything about the strategy
its works well the other sessions but US. stop loss only
Investing is SIMPLE but NOT EASY
  • #13,267
  • Aug 10, 2018 12:26pm Aug 10, 2018 12:26pm
I noticed that also, it seems the asian session is the best. London is also so, so.. A lot of movement and it can go fast in any direction.
Anything above the line is an uptrend, below the line is a downtrend.
  • #13,268
  • Aug 10, 2018 2:33pm Aug 10, 2018 2:33pm
Quoting Moly_Cam5
looks like the US session is the worst for this strategy in all days of the week for sixth time it fails and hit stop loss after the setup fails anyone notice that or its just me
Hi Molly. It's not so much that the US session is worse, it is a combination of factors.

In general, it is accepted that the US session will reverse the UK one. This would mean that HOLO should be golden, right?

However, what actually happens is that yes, there will be a reversal but not a complete one. Instead, there is a period that will turn but then price will continue on.

You will see this as a move, pullback, then continuation. UC is a classic for this.

Because of this, the US Open is IMO better for 1-2-3, with HOLO set-ups that come either side of that as better options.

The JPY pairs are great in the US session, as TS shows every single day, near enough, however the move will come at the session wind-down.

Now, of course there will be cases that go against this but sorry, that's why you need to do your legwork and due diligence. Find the ones that work.

Somewhere back in the mists of time, I am sure I laid out how I broke down my day (at the time) and I pointed out that I ran HOLO around the couple of hours after the UK Open and then in the UK afternoon.

You will also get set-ups on the indices at the beginning and end of the day (UK) not so much midday.

It should also be said that all that could change over time, as that is the nature of the markets...they change.
  • #13,269
  • Aug 10, 2018 2:39pm Aug 10, 2018 2:39pm
Quoting Hercs
{quote} ======== Hi Lemercenaire, First of all my sincerest apologies for messing up my logic in the first image; here is the corrected version and with questions re-posted from your reply in #3. #2. Candle "E" is now "F" and the "break-out"-candle - thanks for reinforcing that again. Would candle "G" open have been acceptable? The Yellow and Black horizontal lines are extensions of the Openings of their respective candles so that I could ask the question whether Candle "D" open would have been correct taking into consideration that the wick was...
Hi Hercs,

Thanks for clearing that up. Much better

Having said that, I am away for the weekend and am actually posting this from my phone. It makes it a bit awkward trying to read the info, check the chart and type a reply (especially with g****** autocorrect!).

I do, for my pains, have a Chromebook with me and I will use that at some point to reply properly. Probably tomorrow night.

Hang fire till then!

Have a good weekend all. Good to see the contributions.
  • #13,270
  • Aug 11, 2018 6:24am Aug 11, 2018 6:24am
Thanks Lemercenaire, you too have a most enjoyable weekend.
Hercs
  • #13,271
  • Aug 13, 2018 12:39am Aug 13, 2018 12:39am
Morning everyone.
I'm going to have another try with Cable this week.
The time is 6.35 uk time
Cable is within Fridays range
There is no red news.
Regards
Kev
  • #13,272
  • Aug 13, 2018 2:03am Aug 13, 2018 2:03am
Hi everyone
Uk time 8.01 am
I was going to buy the last 15 min candle, but it broke and made a new low
Regards
Kev
  • #13,273
  • Aug 13, 2018 10:43am Aug 13, 2018 10:43am
Who is taking the 10 trade challenge the week of AUGUST 12, 2018?

During the challenge, you are only to trade the same pair.

Beginners do not get to trade multiple pairs until they have mastered trading one single pair.

GREEN PIPS TO ALL.
Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,274
  • Aug 13, 2018 10:48am Aug 13, 2018 10:48am
Quoting pipsMEup
Molly, I too have had trouble at times this week during the US session, but hear me now and believe me later, it's us, not the strategy.
US Session is when I place most of my trades. Are you trading multiple pairs? If yes, then trade one pair. You'll get the hang of it. And if you did not get a trade on a particular day, then you followed the instructions and get a gold star
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,275
  • Aug 13, 2018 12:06pm Aug 13, 2018 12:06pm
High everyone.
UK time is 1800 hrs
No trades today, but has just almost made a new lower open.
The lower low is still the same from 9.00am this morning, i'll have another look at 19.00 hrs uk time
Regards
Kev
  • #13,276
  • Aug 13, 2018 12:10pm Aug 13, 2018 12:10pm
I looked at USDJPY all day, no signals (1h / 15m). It there was, let me know. And please post everytime this week, if there is a signal in USDJPY
I'm not completely ready for the challenge, but hopefully will be next week!
  • #13,277
  • Aug 13, 2018 11:12pm Aug 13, 2018 11:12pm
Hi Newt
Their could be an opportunity for you today
The 4 hour chart is down, and if you stick a trend line on we seem to be at the top of the range
It just seems to make sense to wait for HOLO set up to sell.
But please don't forget that I am a complete novice as well
Sorry there is no chart to explain it, but I've got to get ready for work, and posting charts is not my strong point lol
What ever you decide to do take care
regards
Kev
  • #13,278
  • Aug 13, 2018 11:23pm Aug 13, 2018 11:23pm
Morning everyone
5.15 am uk time
There was a buy opportunity at 1.15 on cable ( I think )
Lower open at 1.00 am and a 15 min candle in the place of interest.
There was also 3 Five min bars from 1.05 onwards
I didn't take this trade as I was asleep
Regards
Kev
  • #13,279
  • Aug 14, 2018 2:51am Aug 14, 2018 2:51am
Quoting Newt
I looked at USDJPY all day, no signals (1h / 15m). It there was, let me know. And please post everytime this week, if there is a signal in USDJPY I'm not completely ready for the challenge, but hopefully will be next week!
Heads-up on UJ, Newt. 08:51 uk time. Short potential.
  • #13,280
  • Aug 14, 2018 2:52am Aug 14, 2018 2:52am
Quoting lemercenaire
{quote} Heads-up on UJ, Newt. 08:51 uk time. Short potential.
Attached Image (click to enlarge)
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