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Highest Open / Lowest Open Trade

  • #13,381
  • Aug 20, 2018 6:42am Aug 20, 2018 6:42am
Morning/afternoon all, had a minute to trade this morning and got in a UJ trade and USDCHF both +5 locked in.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPYM5.png Size: 49 KB
Click to Enlarge Name: USDCHFM5.png Size: 54 KB
Wow! I've got some experience to gain.
  • #13,382
  • Aug 20, 2018 7:16am Aug 20, 2018 7:16am
You'd have to think that there could be a Long opportunity here later. Onto the Watch-List...

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1longoportunitylaterasHOLO20thAUg18.png Size: 34 KB
  • #13,383
  • Aug 20, 2018 10:37am Aug 20, 2018 10:37am
Who is taking the 10 trade challenge the week of AUGUST 19, 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
  • #13,384
  • Aug 20, 2018 10:38am Aug 20, 2018 10:38am
Quoting kevin1959
{quote}... Your rules are simple enough to follow, but unfortunately I tend to over complicate them. Regards Kev
STOP!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,385
  • Aug 20, 2018 10:50am Aug 20, 2018 10:50am
Quoting TooSlow
{quote} STOP!
Hi TooSlow.
Thanks for the reply.
I am trying to stop.
regards
Kev
  • #13,386
  • Aug 20, 2018 11:06am Aug 20, 2018 11:06am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,387
  • Aug 21, 2018 1:29am Aug 21, 2018 1:29am
At what times would you guys break the rules? I am sticking to the rules for now but it happens many times that the setup is there but I have a H1 high or low breakout or even H1 higher price then yesterday.
Anything above the line is an uptrend, below the line is a downtrend.
  • #13,388
  • Aug 21, 2018 1:54am Aug 21, 2018 1:54am
Quoting Degolep
At what times would you guys break the rules? I am sticking to the rules for now but it happens many times that the setup is there but I have a H1 high or low breakout or even H1 higher price then yesterday.
I won't break the rules re a breakout candle. That's solid and I simply shift to 1-2-3.

I will. however, freely ignore where price is compared to yesterday's extremes. I will take other information into account when trying to see if I am facing any kind of runaway train.
  • #13,389
  • Aug 21, 2018 2:59am Aug 21, 2018 2:59am
Quoting lemercenaire
{quote} I won't break the rules re a breakout candle. That's solid and I simply shift to 1-2-3. I will. however, freely ignore where price is compared to yesterday's extremes. I will take other information into account when trying to see if I am facing any kind of runaway train.
And I thought that alert for the price higher then yesterday is "worse" than H1 breakout since it had EXTREME CAUTION
Anything above the line is an uptrend, below the line is a downtrend.
  • #13,390
  • Aug 21, 2018 3:04am Aug 21, 2018 3:04am
Quoting Degolep
{quote} And I thought that alert for the price higher then yesterday is "worse" than H1 breakout since it had EXTREME CAUTION
It is there because it will keep traders out of the way of runaway trains. Traders likely to be caught on the tracks are more likely to be new to the game. Experienced traders can read the signs pretty easily.

So for newcomers, then yes, that should be Extreme Caution, for experienced, if you get run over there then there's no excuse, you should have been looking where you were going!
  • #13,391
  • Aug 21, 2018 3:08am Aug 21, 2018 3:08am
Morning everyone
GBP / JPY
9.01 uk time
High 141.37
HO. 141.31
Price now in the area of interest
5 min candle opened in area of interest at 9.05 uk time.
Could this sell trade be taken as a HOLO or a 123 trade ?
Regards
Kev
  • #13,392
  • Aug 21, 2018 3:11am Aug 21, 2018 3:11am
Quoting kevin1959
Morning everyone GBP / JPY 9.01 uk time High 141.37 HO. 141.31 Price now in the area of interest 5 min candle opened in area of interest at 9.05 uk time. Could this sell trade be taken as a HOLO or a 123 trade ? Regards Kev
clearly as a HOLO trade only, because the hourly bar didnt take out the daily high of 141.40
but its a good one, congrat
trading is like dancing, don't think and just listen to the music!
  • #13,393
  • Aug 21, 2018 3:22am Aug 21, 2018 3:22am
Hi Birdland
Thank you for your reply
I thought the hourly bar only had to test the high ?
Regards
Kev
  • #13,394
  • Aug 21, 2018 3:24am Aug 21, 2018 3:24am
Quoting kevin1959
Morning everyone GBP / JPY 9.01 uk time High 141.37 HO. 141.31 Price now in the area of interest 5 min candle opened in area of interest at 9.05 uk time. Could this sell trade be taken as a HOLO or a 123 trade ? Regards Kev
As Birdland says, HOLO only.

High of the day came on the 06:00 UK time bar, so there is no 1-2-3 at this new bar.
  • #13,395
  • Aug 21, 2018 3:31am Aug 21, 2018 3:31am
Quoting lemercenaire
{quote} As Birdland says, HOLO only. High of the day came on the 06:00 UK time bar, so there is no 1-2-3 at this new bar.
As a picture is worth a thousand words, here it is:

Attached Image (click to enlarge)
Click to Enlarge Name: InkedGBPJPYH1as1-2-3info21stAUg18-crop_LI.jpg Size: 597 KB


Bar #1 is the 06:00 uk bar. That is the High of the day so far. Bar #2 is the 1-2-3 entry, short at the yellow arrow.

There will be no new short 1-2-3 until that high is taken out by a newer one.
  • #13,396
  • Aug 21, 2018 3:32am Aug 21, 2018 3:32am
Anyone up at 02:00 uk would have gone to bed very happy after that Long move, lol.
  • #13,397
  • Aug 21, 2018 6:18am Aug 21, 2018 6:18am
Hi Lem / Birdland
Thanks for putting me straight.
I did have a sell trade around 9.05 am uk time but got stopped out.
ImI only trading with a very small account until I get a grip.
Thanks again

Regards
Kev
  • #13,398
  • Aug 21, 2018 7:47am Aug 21, 2018 7:47am
Quoting kevin1959
Hi Lem / Birdland Thanks for putting me straight. I did have a sell trade around 9.05 am uk time but got stopped out. ImI only trading with a very small account until I get a grip. Thanks again Regards Kev
I think the confusion may come from a bad read on one of the rules. You seem to be counting any bar that tests the High / Low as a potential 1-2-3 entry bar. This isn't the case. It is only the bar immediately after the one that sets the new High / Low.

Yes?

Any other bar after the Bar #2 Trigger-Bar would take you into HOLO territory.
  • #13,399
  • Aug 21, 2018 11:58am Aug 21, 2018 11:58am
Quoting kevin1959
Morning everyone. I'm going to try the GBP/ JPY this week Did 8 trades over the last 2 weeks on Cable 1 loss 6 in profit 1 still running Regards Kev
Sounds good with so many winners .
I think there is something essentiel that i'm missing regarding trading this strategy, so i'm gonna reread rules and most of the pages, maybe that would help.
  • #13,400
  • Aug 21, 2018 12:04pm Aug 21, 2018 12:04pm
Quoting Newt
{quote} Sounds good with so many winners . I think there is something essential that i'm missing regarding trading this strategy, so i'm gonna reread rules and most of the pages, maybe that would help.
If there's anything specific we can help with Newt, let us know.

Often it's just one small thing that needs to fall into place for the light-bulb moment to kick in.
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