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Highest Open / Lowest Open Trade

  • #13,281
  • Aug 14, 2018 3:04am Aug 14, 2018 3:04am
Quoting lemercenaire
{quote} {image}
Already sitting ready and watching!
Price is above yesterday high tho.
  • #13,282
  • Aug 14, 2018 3:06am Aug 14, 2018 3:06am
Quoting Newt
{quote} Already sitting ready and watching! Price is above yesterday high tho.
That is true. Make up your mind what you are going to do and stick to your decision.
  • #13,283
  • Aug 14, 2018 3:10am Aug 14, 2018 3:10am
Quoting lemercenaire
{quote} {image}
Hi Lem.
It's 9.07 uk time.
Do we have to wait for either a 5 min or 15 min to open in the area of interest.
I'm not trading this pair just curious
Regards
Kev
  • #13,284
  • Aug 14, 2018 3:16am Aug 14, 2018 3:16am
Quoting kevin1959
{quote} Hi Lem. It's 9.07 uk time. Do we have to wait for either a 5 min or 15 min to open in the area of interest. I'm not trading this pair just curious Regards Kev
Yes, candle needs to open.
  • #13,285
  • Aug 14, 2018 3:20am Aug 14, 2018 3:20am
Quoting Newt
{quote} Already sitting ready and watching! Price is above yesterday high tho.
This is not a straight forward set-up.

Watching it now, you can see worrying price-action on the lower timeframes, with rising lows. On top of that, micro Supply+Demand Zones have formed and price has become trapped in a narrow channel.

This is coupled with Newt's observation that price is above yesterday's High.

The last m5 candle has not opened in The Area of Interest and price on the latest candle has dropped away. It now remains to be seen if it pushes on through and continues to drop, or if it bounces to give us another chance of a bite.

Be cautious, folks.
  • #13,286
  • Aug 14, 2018 3:23am Aug 14, 2018 3:23am
Quoting lemercenaire
{quote} This is not a straight forward set-up. Watching it now, you can see worrying price-action on the lower timeframes, with rising lows. On top of that, micro Supply+Demand Zones have formed and price has become trapped in a narrow channel. This is coupled with Newt's observation that price is above yesterday's High. The last m5 candle has not opened in The Area of Interest and price on the latest candle has dropped away. It now remains to be seen if it pushes on through and continues to drop, or if it bounces to give us another chance of a...
If it stayed the same and we did get an entry - I would be looking to go in heavy and take two or three pips out of that channel I mentioned and get out of Dodge. Not the recommended method but just thought I'd mention my thinking.
  • #13,287
  • Aug 14, 2018 3:25am Aug 14, 2018 3:25am
The m1 entry for the brave or uber-aggressive among us...

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM1oneminuteentryforthebraveHOLO14thAug18.png Size: 40 KB
  • #13,288
  • Aug 14, 2018 3:25am Aug 14, 2018 3:25am
Hi Lem.
I know this is HOLO thread, but could the USD/JPY be played as a 123.
I tend to get mixed up between the two methods
Red news at 9.30 am uk time
Regards
Kev
  • #13,289
  • Aug 14, 2018 3:29am Aug 14, 2018 3:29am
Quoting kevin1959
Hi Lem. I know this is HOLO thread, but could the USD/JPY be played as a 123. I tend to get mixed up between the two methods Red news at 9.30 am uk time Regards Kev
Yes, I posted as such over on the 1-2-3 thread. +5 has just been locked in.
  • #13,290
  • Edited 3:42am Aug 14, 2018 3:30am | Edited 3:42am
Quoting lemercenaire
{quote} This is not a straight forward set-up. Watching it now, you can see worrying price-action on the lower timeframes, with rising lows. On top of that, micro Supply+Demand Zones have formed and price has become trapped in a narrow channel. This is coupled with Newt's observation that price is above yesterday's High. The last m5 candle has not opened in The Area of Interest and price on the latest candle has dropped away. It now remains to be seen if it pushes on through and continues to drop, or if it bounces to give us another chance of a...
Perfect observations. A better setup will come than the current in USDJPY, I expect it to make new highers on h1 now. Lets see.
  • #13,291
  • Aug 14, 2018 3:32am Aug 14, 2018 3:32am
Cable 9.30 am uk time.
Sold at 9.20 am on the open of the 5 min bar
Could be short lived because of news at 9.30
  • #13,292
  • Aug 14, 2018 3:33am Aug 14, 2018 3:33am
Quoting lemercenaire
{quote} Yes, I posted as such over on the 1-2-3 thread. +5 has just been locked in.
Thanks lem
  • #13,293
  • Aug 14, 2018 3:34am Aug 14, 2018 3:34am
Quoting kevin1959
Cable 9.30 am uk time. Sold at 9.20 am on the open of the 5 min bar Could be short lived because of news at 9.30
Good luck Kev
  • #13,294
  • Aug 14, 2018 6:23am Aug 14, 2018 6:23am
Quoting Newt
{quote} Good luck Kev
Hi Newt.
Thanks
I sold at 9.22 am uk time, at 1.2791.
I ended the trade at 10.20 am uk time at1.2776.
I'll see what happens after 13.00 hrs uk time, if not to busy
Regards
Kev
  • #13,295
  • Aug 14, 2018 7:33am Aug 14, 2018 7:33am
Do you guys have any favourite pairs? With which you have the most success? I see Tooslow is hooked on USD/JPY
Anything above the line is an uptrend, below the line is a downtrend.
  • #13,296
  • Aug 14, 2018 7:46am Aug 14, 2018 7:46am
Quoting Degolep
Do you guys have any favourite pairs? With which you have the most success? I see Tooslow is hooked on USD/JPY
I also saw that TooSlow mostly posted trades from the USDJPY, thats why I also only look at that one while i'm learning. But when I get better at this, i'll most likely try out the other pairs. But a good question which pair people have best succes rate with.
  • #13,297
  • Aug 14, 2018 7:50am Aug 14, 2018 7:50am
Quoting Degolep
Do you guys have any favourite pairs? With which you have the most success? I see Tooslow is hooked on USD/JPY
When the numbers were last run on this, last year some time, 91% profit came from 20% of the pairs, with a heavy bias towards UJ, EJ, and UC.

That may have changed since then but my gut tells me it still holds pretty true.

I would also add my Weird Bunch of DAX, FTSE, F40, though they are probably in turn weighted toward 1-2-3.
  • #13,298
  • Aug 14, 2018 8:18am Aug 14, 2018 8:18am
I looked at this thread sometime ago and must have been distracted onto something else. Just one question to clarify entry. It may be that an hourly Hi/Lo is printed and then no open above/below on an hourly basis and unless you dive down to lower tf's you don't get into a trade. What tf's do most most of those trading this system use. I know EA's are banned but I am not someone who has enough life left to sit in front of a terminal waiting for something to happen so my system is automated.
  • #13,299
  • Aug 14, 2018 9:31am Aug 14, 2018 9:31am
Quoting stevecartwright
I looked at this thread sometime ago and must have been distracted onto something else. Just one question to clarify entry. It may be that an hourly Hi/Lo is printed and then no open above/below on an hourly basis and unless you dive down to lower tf's you don't get into a trade. What tf's do most most of those trading this system use. I know EA's are banned but I am not someone who has enough life left to sit in front of a terminal waiting for something to happen so my system is automated.
Hi Steve if you go to page 1 of the thread there are 2 very good explanations of how it works.
Lem is very good at explaining things and to be honest he has the patience of a saint.
But the main man to thank is TooSlow, as without him this thread and his 123 thread wouldn't exist
regards
Kev
  • #13,300
  • Aug 14, 2018 10:10am Aug 14, 2018 10:10am
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 64 KB
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