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Highest Open / Lowest Open Trade

  • #13,321
  • Edited 7:07am Aug 15, 2018 6:55am | Edited 7:07am
Hello, how are you, excuse me along time i didn't write here because i have problems with my personal computer, but now i come back to test this estrategy, i feel more confortable on 15M chart, i'm trying on 5M chart and i saw i have some many false entries , especially when price it's above or low yesterday price. Today i change to 15M chart, and i can see all 5M candle closes into interest area, in 15M doesn't matter.
Lemerceneire how are you? how many time, i have a question:
Start new hour, i am on 15M chart. (PRICE IS LOW PREVIOUS LOW D1 [1])
1first candle give me H1 lowest price
2 second candle make a new low price
3 third candle open into interest area (then i put my pending buy limit order at h1 level) this candle activate trade.
4 fouth candle it's running to +5 pips now

I did well to put my pending order in 3 candle? or you wait to close this 1hour?

Thank you (Finally I win this trade BE+1) but i don't know if i did well)
Attached Image (click to enlarge)
Click to Enlarge Name: setup.jpg Size: 285 KB
  • #13,322
  • Aug 15, 2018 7:05am Aug 15, 2018 7:05am
I am caught up in the hell that is Windows Update at the moment so can't post the charts but even though UJ is sitting between moves, for those not restricted by their 10-trade challenge, EJ is looking like a worthwhile option.
  • #13,323
  • Aug 15, 2018 8:03am Aug 15, 2018 8:03am
Windows update hell jajajaja, what a moment.

Lost trade on USDJPY

Attached Image (click to enlarge)
Click to Enlarge Name: lost trade usd jpy.jpg Size: 299 KB


This second image i hava a question in candle marked by me number 1 trade activate and win because BE was touched,

You entered on second candle marked by me another time or wait to enter?

Attached Image (click to enlarge)
Click to Enlarge Name: doubt.jpg Size: 316 KB


Thank you
  • #13,324
  • Aug 15, 2018 9:37am Aug 15, 2018 9:37am
Quoting jaimeale
Hello, how are you, excuse me along time i didn't write here because i have problems with my personal computer, but now i come back to test this estrategy, i feel more confortable on 15M chart, i'm trying on 5M chart and i saw i have some many false entries , especially when price it's above or low yesterday price. Today i change to 15M chart, and i can see all 5M candle closes into interest area, in 15M doesn't matter. Lemerceneire how are you? how many time, i have a question: Start new hour, i am on 15M chart. (PRICE IS LOW PREVIOUS LOW D1 [1])...
If you seek to learn this method, EMPTY YOUR CUP!

Only use the tools provided here until you master the method.

Then, and only then, can you make it your own
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,325
  • Aug 15, 2018 9:49am Aug 15, 2018 9:49am
Quoting TooSlow
{quote} If you seek to learn this method, EMPTY YOUR CUP! Only use the tools provided here until you master the method. Then, and only then, can you make it your own
Thank you TooSlow, i only attach a expert to managge open order and set +5 pips to BE+1, but this E.A display some information isn't important, and i attach Murrey Math to see where is the price, but today i haven't got a good experience with system, i lost so much trades, i will read manual another time.

I appreciate so much your words TooSlow

Thank you
  • #13,326
  • Aug 15, 2018 10:05am Aug 15, 2018 10:05am
A runaway train...oil powered.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1runawaytrainDetail15thAug18.png Size: 41 KB
  • #13,327
  • Aug 15, 2018 10:15am Aug 15, 2018 10:15am
Quoting jaimeale
Windows update hell jajajaja, what a moment. Lost trade on USDJPY {image} This second image i hava a question in candle marked by me number 1 trade activate and win because BE was touched, You entered on second candle marked by me another time or wait to enter? {image} Thank you
You need to pay attention to the news.

There was red USD news all through the day. Some directly and also the Oil Inventories, which impact USD as Oil is priced in Dollars. Ditto the JPY.
  • #13,328
  • Aug 15, 2018 11:47am Aug 15, 2018 11:47am
Quoting lemercenaire
{quote} You need to pay attention to the news. There was red USD news all through the day. Some directly and also the Oil Inventories, which impact USD as Oil is priced in Dollars. Ditto the JPY.

Yes one moment in a day i thought about news, because i forget watch news, i big mistake.

Tomorrow i test another time but looking news

Thank you lemercenaire
  • #13,329
  • Aug 15, 2018 11:59am Aug 15, 2018 11:59am
Quoting jaimeale
{quote} Yes one moment in a day i thought about news, because i forget watch news, i big mistake. Tomorrow i test another time but looking news Thank you lemercenaire
I've said it before and I'll say it again, it's only a mistake if you don't learn from it.
  • #13,330
  • Aug 15, 2018 12:17pm Aug 15, 2018 12:17pm
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.

Sorry for the tardy reply, time flies when you're having fun! Anyway, back to the questions and we'll pick up where we left off...

''Would candle "G" open have been acceptable?''

The open to candle 'F' is the only level that counts for anything until a higher H1 open is made.

''...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.''

Candle 'D' is indeed the new Lower H1 Open and stays that way until the candle I have marked 'H' on your chart below takes over. Wicks have no impact whatever as to the higher / lower opens, other than they will indicate if a candle has become a ''Breakout'' Candle by showing a new High / Low.

Attached Image

Sorry for
  • #13,331
  • Aug 15, 2018 12:19pm Aug 15, 2018 12:19pm
An addition to the above.

The Open to candle 'G' would be an entry level for a 1-2-3 trade.
  • #13,332
  • Aug 15, 2018 11:14pm Aug 15, 2018 11:14pm
Quoting lemercenaire
An addition to the above. The Open to candle 'G' would be an entry level for a 1-2-3 trade.
thanls Lem.
The detailed answer that you have given to Herc, is also the same sort of questions that I would be asking
regards
Kev
  • #13,333
  • Aug 16, 2018 1:34am Aug 16, 2018 1:34am
Hi everyone
Cable 7.32 am uk time
Sell stop at 1.2717
Regards
Kev
  • #13,334
  • Aug 16, 2018 2:51am Aug 16, 2018 2:51am
Cable 8.48 am
Sell stop triggered at 8.00 am uk time
Stopped out for 1 pip at 8.38 am
Regards
Kev
  • #13,335
  • Aug 16, 2018 3:17am Aug 16, 2018 3:17am
Did anyone code any alert when the price leaves the area of interest? I'm missing trades every day because of my daily job...
Anything above the line is an uptrend, below the line is a downtrend.
  • #13,336
  • Aug 16, 2018 3:25am Aug 16, 2018 3:25am
Quoting Degolep
Did anyone code any alert when the price leaves the area of interest? I'm missing trades every day because of my daily job...
i would quit the daily job, seriously.
this approach is not suited for a combination with a daily job...it is a daily job;-)

if you dont want to quit the daily job, go for h4 or better daily chart strategies.
trading is like dancing, don't think and just listen to the music!
  • #13,337
  • Aug 16, 2018 4:53am Aug 16, 2018 4:53am
Quoting Degolep
Did anyone code any alert when the price leaves the area of interest? I'm missing trades every day because of my daily job...
You'd still miss the trades, as you should be entering at the time you would be getting the alert.

A possibility would be an alert for a new H1 High or Low being formed, so you'd know a potential set-up was there in a new Area of Interest. Whether any such thing exists, I don't have a scooby, sorry.

I'd think it would be a simple thing for a coder to throw together, if you have a tame one handy.

You could consider 1-2-3 on the higher time-frames.
  • #13,338
  • Aug 16, 2018 9:10am Aug 16, 2018 9:10am
Quoting lemercenaire
{quote} 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...
How should i get benefit from this?
will be glad to know how ,,
Investing is SIMPLE but NOT EASY
  • #13,339
  • Aug 16, 2018 9:37am Aug 16, 2018 9:37am
Hi everyone.
Sold cable at 15.24 uk time
Using the 5 or the 15 min candle.
I'm at home now so have not used a stop loss
Regards
Kev
  • #13,340
  • Aug 16, 2018 9:49am Aug 16, 2018 9:49am
Sold at 1.2736
locked in 10 pips
regards
Kev
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