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Highest Open / Lowest Open Trade

  • #13,761
  • Jan 27, 2019 2:14am Jan 27, 2019 2:14am
And here the next day ...
Attached Image (click to enlarge)
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  • #13,762
  • Jan 27, 2019 3:14pm Jan 27, 2019 3:14pm
Quoting ForeXhell
Hello TooSlow and All ! Would that have been a correct entry? And going by the rules this one would have been the only one on this day? (Besides the one at the end of the session ...) Thank you Tom {image}
Hi ForeXhell,

As far as my understanding, we dont take consider the daily open, we consider the hourly open to looking for trade. And M15 open should be above Highest H1 open for sell entry valid and below Lowest H1 open for buy entry.

P/s: How can you set up the blurry candle in higher timeframe on chart, I am looking for it but couldnt see this option.

Regards

Will
  • #13,763
  • Jan 28, 2019 1:56am Jan 28, 2019 1:56am
Quoting will.cyan259
{quote} Hi ForeXhell, As far as my understanding, we dont take consider the daily open, we consider the hourly open to looking for trade. And M15 open should be above Highest H1 open for sell entry valid and below Lowest H1 open for buy entry. P/s: How can you set up the blurry candle in higher timeframe on chart, I am looking for it but couldnt see this option. Regards Will
Hi Will, thanks for your reply!

Ah my bad. I made a mistake. It should not read "Highest Daily Open" but "Highest 1HR Open"!
So on my first chart, we had a highest 1Hr Open and we also got a higher open on the first 15min bar.
What I got wrong: the entry would have been on my #1 (x) and not #2 since the 3rd 15min bar broke the highest open.

Maybe thatīs a valid trade now?

I am using MT5. The higher time frame overlay is a free indicator on the MQL market place.
Itīs called "My Big Bars MT5".

Thanks
Tom
  • #13,764
  • Jan 28, 2019 2:29am Jan 28, 2019 2:29am
Quoting ForeXhell
{quote} Hi Will, thanks for your reply! Ah my bad. I made a mistake. It should not read "Highest Daily Open" but "Highest 1HR Open"! So on my first chart, we had a highest 1Hr Open and we also got a higher open on the first 15min bar. What I got wrong: the entry would have been on my #1 (x) and not #2 since the 3rd 15min bar broke the highest open. Maybe thatīs a valid trade now? I am using MT5. The higher time frame overlay is a free indicator on the MQL market place. Itīs called "My Big Bars MT5". Thanks Tom
Hi Tom.

You'll get on a lot better (and TS won't shout at you) if you use Hairi's mt5 HOLO indicator (in the paperclip).

HOLO-mt5-from-Hairi.ex5
  • #13,765
  • Jan 28, 2019 4:41am Jan 28, 2019 4:41am
Quoting lemercenaire
{quote} Hi Tom. You'll get on a lot better (and TS won't shout at you) if you use Hairi's mt5 HOLO indicator (in the paperclip). HOLO-mt5-from-Hairi.ex5
Hi Lem!

Ahhh Le Mercenaire helping the needy!
Thanks for that. Was looking around for something like that without luck, till now ... ;-)

Thanks
Tom
Attached Image
  • #13,766
  • Jan 28, 2019 7:26am Jan 28, 2019 7:26am
Quoting ForeXhell
{quote} Hi Lem! Ahhh Le Mercenaire helping the needy! Thanks for that. Was looking around for something like that without luck, till now ... ;-) Thanks Tom {image}
Segrelles had one of the stories picked up by Heavy Metal Magazine. The ultimate accolade at the time. His work had progressed to the point of being almost Frazetta like and that is as good as it gets.

Great stuff, thanks for the memories!
  • #13,767
  • Jan 28, 2019 9:37am Jan 28, 2019 9:37am
Would have been a Long correct?

Thanks
Tom
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  • #13,768
  • Jan 28, 2019 10:33am Jan 28, 2019 10:33am
Quoting ForeXhell
Would have been a Long correct? Thanks Tom {image}
No. A new Lowest Open has been printed, so your new Area of Interest is the salmon zone below. You are now looking for an m15 bar to open on there and will enter as price crosses up out of that zone.
  • #13,769
  • Jan 28, 2019 12:33pm Jan 28, 2019 12:33pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,770
  • Jan 28, 2019 12:34pm Jan 28, 2019 12:34pm
Quoting ForeXhell
Hello TooSlow and All ! Would that have been a correct entry? And going by the rules this one would have been the only one on this day? (Besides the one at the end of the session ...) Thank you Tom {image}
If you are wanting to learn this method, then use the tools provided.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,771
  • Jan 28, 2019 12:48pm Jan 28, 2019 12:48pm
Quoting TooSlow
{image}
Hi TooSlow thanks for thread
May i know the indicator that showing the the currency pairs and time on your chart
  • #13,772
  • Edited 6:42am Jan 29, 2019 5:02am | Edited 6:42am
Hi, is it correct to delete a pending order when:

1. a new highest (lowest) H1 open is formed ?
2. a new daily high (low) is formed if price goes up (down) the area of interest ?

Are there other circumstances to delete a pending order?

Thank you!
  • #13,773
  • Jan 29, 2019 8:25am Jan 29, 2019 8:25am
Quoting lemercenaire
{quote} No. A new Lowest Open has been printed, so your new Area of Interest is the salmon zone below. You are now looking for an m15 bar to open on there and will enter as price crosses up out of that zone.
Lem, thank you! That rang a bell !!
Thanks Tom
  • #13,774
  • Jan 29, 2019 8:29am Jan 29, 2019 8:29am
Quoting TooSlow
{quote} If you are wanting to learn this method, then use the tools provided.
Yes Sir, I wanna learn this method!
Have to download MT4 since I use MT5.
Using Hairiīs MT5 indicator right now.

Thanks
Tom
  • #13,775
  • Jan 30, 2019 5:52am Jan 30, 2019 5:52am
Hi TooSlow, congratulations on the energy you have put in this forum and for this method.

From what I understand, stop loss is the current daily high or current daily low. But basically, at what distance between the entry point and the daily high/ low is ok to put your sl, if the distance between open and high is greater than 5-6-7 pips? Or how many pips is ok to the daily high/ low to open a position?
  • #13,776
  • Jan 30, 2019 10:43am Jan 30, 2019 10:43am
Quoting Booghie
Hi TooSlow, congratulations on the energy you have put in this forum and for this method. From what I understand, stop loss is the current daily high or current daily low. But basically, at what distance between the entry point and the daily high/ low is ok to put your sl, if the distance between open and high is greater than 5-6-7 pips? Or how many pips is ok to the daily high/ low to open a position?
Hi Booghie and welcome to the thread. TooSLow has indeed put a lot ooomph in here! I'm just sorry I can't spend as much time here as I used to

As for your question, other than the base concept that you mention and is in the ''rules'', where to place your sl will come with experience in the method and especially with the specific pair or pairs you learn to trade. You will get to know the kind of pullback size you are likely to see, how it respects support/resistance, pivots, BRN etc.

Take a few steps back and look left. How do the surroundings look? Where was the last significant level?

You see what I mean. It really will be down to the amount of time you spend running as many set-ups as you come across.

Good luck. Let us know how you are getting on!
  • #13,777
  • Jan 30, 2019 2:53pm Jan 30, 2019 2:53pm
Quoting Booghie
Hi TooSlow, congratulations on the energy you have put in this forum and for this method. From what I understand, stop loss is the current daily high or current daily low. But basically, at what distance between the entry point and the daily high/ low is ok to put your sl, if the distance between open and high is greater than 5-6-7 pips? Or how many pips is ok to the daily high/ low to open a position?
Position size will vary depending on the distance the HO/LO is from the daily High/Low unless you are always trading the same size which means the stop loss is at a fixed distance from entry to maintain your risk level.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,778
  • Jan 30, 2019 2:54pm Jan 30, 2019 2:54pm
Quoting Mehr5
{quote} Hi TooSlow thanks for thread May i know the indicator that showing the the currency pairs and time on your chart
It's a buttons indicator. My version is ADVANCED ALIEN CIVILIZATION TECHNOLOGY
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,779
  • Jan 31, 2019 1:34pm Jan 31, 2019 1:34pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,780
  • Feb 1, 2019 2:56pm Feb 1, 2019 2:56pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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