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Highest Open / Lowest Open Trade

  • #13,421
  • Aug 22, 2018 10:34pm Aug 22, 2018 10:34pm
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  • #13,422
  • Aug 22, 2018 10:47pm Aug 22, 2018 10:47pm
Quoting kevin1959
Morning Lem. Hope I'm not getting on your nerves with tedious questions, but was there a 123, and a HOLO setup on cable off the 1.00am uk time bar. I have got a bit of time before work, so I'll try and download a graph Regards Kev
Sorry just realised this is on the 23.00 hr candle ? ( I forgot about the 2 hour time difference )
The HOLO trade would have been on the 5 min candle at 00.10 ?
Have to dash
regards
Kev
  • #13,423
  • Aug 23, 2018 3:12am Aug 23, 2018 3:12am
Quoting kevin1959
Morning Lem. Hope I'm not getting on your nerves with tedious questions, but was there a 123, and a HOLO setup on cable off the 1.00am uk time bar. I have got a bit of time before work, so I'll try and download a graph Regards Kev
Lol. No probs, Kev. I will answer any intelligent question

On the cable 1-2-3 set-up, the midnight bar is the High and the set-up bar. The entry is off the 01:00 (all uk times). Went really well if you'd been on it.

The HOLO is more complex. Technically, the Highest H1 Open is on the first candle (the midnight uk one). If you used that, then price never returned that high to trigger any HOLO entry outside of the first H1 bar...and what would the first H1 bar have been? A breakout bar.

OK, so looking at the actual chart, you can see that it isn't actually a breakout candle but going by the rules...

I personally wouldn't have considered any HOLO on that first move (the spread may have increased out-of-hours and have been too large to clear the entry as well). However, I would have taken it as a 1-2-3 with no hesitation, even though price dropped away, as looking at the surroundings and the preceding price-action, you can see the clues to what was going to happen were all there.
  • #13,424
  • Aug 23, 2018 6:34am Aug 23, 2018 6:34am
Quoting lemercenaire
{quote} Lol. No probs, Kev. I will answer any intelligent question On the cable 1-2-3 set-up, the midnight bar is the High and the set-up bar. The entry is off the 01:00 (all uk times). Went really well if you'd been on it. The HOLO is more complex. Technically, the Highest H1 Open is on the first candle (the midnight uk one). If you used that, then price never returned that high to trigger any HOLO entry outside of the first H1 bar...and what would the first H1 bar have been? A breakout bar. OK, so looking at the...
Hi Lem
Thanks for your reply.
No I didn't trade cable, as I am following G/J this week.
It was just out of interest.
Regards
Kev
  • #13,425
  • Aug 23, 2018 11:18am Aug 23, 2018 11:18am
Quoting Degolep
Did anyone ever notice that the Alert for previous high or breakout disappear sometimes? It was there few minutes ago now I went back on the charts and the alert is gone? And you can clearly see the price is higher than yesterday. {image}
Hi,
What indicator do you need. Do you use an EA as that may be another way of producing what you want.
If its straight forward I will do it for you, no cost no obligation.
Attached File(s)
File Type: mq4 HoLo.mq4   2 KB | 1,238 downloads
  • #13,426
  • Aug 23, 2018 2:52pm Aug 23, 2018 2:52pm
Quoting stevecartwright
{quote} Hi, What indicator do you need. Do you use an EA as that may be another way of producing what you want. If its straight forward I will do it for you, no cost no obligation. {file}
Check this post, whats going on. The alerts should have stayed on even though the price went under h1 breakout right or?
https://www.forexfactory.com/showthr...3#post11397183
Anything above the line is an uptrend, below the line is a downtrend.
  • #13,427
  • Aug 23, 2018 3:39pm Aug 23, 2018 3:39pm
Quoting Degolep
What I just noticed, I'm not sure if it was made this way or it is a glitch in the code. But I just saw live how the alerts disappeared and reappeared. When price moved under D1 High, the alert on the left disappeared. {image} {image}
Right, I think I get what you're saying.

By ''the alert'', you're talking about the yellow box, right? If so, then that is a warning that price is above yesterday's High D1 (1). Once price reverses enough that it moves below yesterday's High level, then the alert is no longer valid and the box disappears.
  • #13,428
  • Aug 24, 2018 3:04am Aug 24, 2018 3:04am
Hi all ! I'll ask to the experts. I think this was a valid loss and I found a lot similar entries that were loss too. Could you confirm that ? How to avoid them ?
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  • #13,429
  • Aug 24, 2018 1:26pm Aug 24, 2018 1:26pm
Quoting danizani95
Hi all ! I'll ask to the experts. I think this was a valid loss and I found a lot similar entries that were loss too. Could you confirm that ? How to avoid them ? {image}
First off, you're trading EG in the middle of the night.

Secondly and along the same lines, this is right after the day starts (not the trading day - the actual day). Do you think you have a reasonable chance of identifying a High or Low at that time?

By contrast, look what happens at around the actual open time.

If I'm wrong, I'll stand corrected but that's what it looks like to me.
  • #13,430
  • Aug 24, 2018 2:50pm Aug 24, 2018 2:50pm
Quoting lemercenaire
{quote} First off, you're trading EG in the middle of the night. Secondly and along the same lines, this is right after the day starts (not the trading day - the actual day). Do you think you have a reasonable chance of identifying a High or Low at that time? By contrast, look what happens at around the actual open time. If I'm wrong, I'll stand corrected but that's what it looks like to me.
Thank you for the reply. Can I ask you what’s the difference between day start and trading day ? At what time should I consider the new trading day ?
  • #13,431
  • Aug 24, 2018 2:56pm Aug 24, 2018 2:56pm
Quoting danizani95
{quote} Thank you for the reply. Can I ask you what’s the difference between day start and trading day ? At what time should I consider the new trading day ?
No worries. Day start is 00:00 and Trading Day start is Market Open.

Outside of the market hours for whatever pair you are using means less liquidity and movement, not to mention higher spreads.
  • #13,432
  • Aug 24, 2018 3:07pm Aug 24, 2018 3:07pm
Quoting lemercenaire
{quote} No worries. Day start is 00:00 and Trading Day start is Market Open. Outside of the market hours for whatever pair you are using means less liquidity and movement, not to mention higher spreads.
So I didn’t get the point. I live in italy and I took that trade at 1 hour more or less after market open, the day high was the marked one at that time. What’s wrong?
  • #13,433
  • Aug 24, 2018 3:16pm Aug 24, 2018 3:16pm
Quoting danizani95
{quote} So I didn’t get the point. I live in italy and I took that trade at 1 hour more or less after market open, the day high was the marked one at that time. What’s wrong?
Fair enough. It looked like the time marked was just after midnight.

So, keep the info in mind but in your case then, it happens. Try and take a look at the H4 and Daily charts and see if you can get a clue from price action and see how it could effect your set-up down on the H1.

See where price is in relation to pivots, Daily Open, Weekly Open and ADR.

Now none of this is in the rules and TS is right that you don't need it to run HOLO but it is always useful to have an idea about what is going on in your surroundings.
  • #13,434
  • Aug 24, 2018 3:32pm Aug 24, 2018 3:32pm
Quoting lemercenaire
{quote} Fair enough. It looked like the time marked was just after midnight. So, keep the info in mind but in your case then, it happens. Try and take a look at the H4 and Daily charts and see if you can get a clue from price action and see how it could effect your set-up down on the H1. See where price is in relation to pivots, Daily Open, Weekly Open and ADR. Now none of this is in the rules and TS is right that you don't need it to run HOLO but it is always useful to have an idea about what is going on in your surroundings.
Thanks for your suggestions lemercenaire. Have a good day
  • #13,435
  • Aug 25, 2018 3:07pm Aug 25, 2018 3:07pm
Who is taking the 10 trade challenge the week of AUGUST 26, 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
  • #13,436
  • Aug 26, 2018 5:02am Aug 26, 2018 5:02am
Quoting TooSlow
Who is taking the 10 trade challenge the week of AUGUST 26, 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!
Hi TooSlow
I'll use the same pair as last week GBP/JPY
We have a bank Holiday tomorrow
regards
Kev
  • #13,437
  • Aug 27, 2018 3:13am Aug 27, 2018 3:13am
Morning everyone
GBP/JPY
UK time 9.07 am
I missed an opportunity this morning.
An area of interest was formed with the 7.00 am uk time bar
A 5 min bar opened in my area of interest at 8.05 am uk time
I think this could also have been taken as a 123 ?
I'll try and post a chart
Regards
Kev
  • #13,438
  • Aug 27, 2018 3:13am Aug 27, 2018 3:13am
Is any of the traders here entering on M5 instead of M15? Because there is a lot more entries on M5, but more entries is not necessary good.
Anything above the line is an uptrend, below the line is a downtrend.
  • #13,439
  • Aug 27, 2018 3:40am Aug 27, 2018 3:40am
Attached Image (click to enlarge)
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Hi this is the 1 hour chart.
I.ll post the same thing on the 5 min chart
  • #13,440
  • Aug 27, 2018 3:54am Aug 27, 2018 3:54am
Hi
This is the 5 min chart
Regards
Kev
Attached Image (click to enlarge)
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Manouche