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Highest Open / Lowest Open Trade

  • #13,861
  • Feb 22, 2019 12:38pm Feb 22, 2019 12:38pm
Quoting livindaylite
#2 GBPUSD Feb.22, 2019 {image} Very similar to Gold, yesterday. Didn't trade this one, but it seems my eye is picking up this kind of setup - Price after a long run, and again High/Low breakout occurred; ergo, caution. Will try to spot setups when Price is between Yesterdays High/Low. Seems more daunting when Price is ranging and H1 candles are making new Highs and Lows with no setup validated. {image} Validation: 2nd M15 candle opens between OPEN and EXTREME = we have a setup. {image} Result: Didn't trade it so, hard to say exactly. Depends on...
To answer your last question first: ''Would it be true to say that this method is about getting many +1's and +5's with the occasional runner to mitigate the relative poor R:R?'' - Yes, it is.

Also you are looking at this method as a standalone, which is fine and actually as you should be until you learn it. However if you do find yourself in a runner of a trade, then you should be looking at techniques that enable you to add into the trade as it moves.

There is also one point to make about these particular set ups you are finding. They are actually leaning more toward 1-2-3 than HOLO. In fact, HOLO actually works better in a ranging market. However, if you have found a set up that you like and find to work, then all good. Go with it. Just be careful of running HOLO in a breakout situation.

It's nice to see you working all this out for yourself though. Keep it up.
  • #13,862
  • Feb 22, 2019 8:00pm Feb 22, 2019 8:00pm
Quoting TooSlow
{quote} Understand what this HOLO method does - trades price reversing off of the daily high/low. Price moves away from the open which creates the daily range. Knowing what number the range usually exceeds is a clue to when to look for a reversal. Also knowing that number allows you to trade away from the open but, alas, that is a different method [ BUY ZONE ]. Using the previous day's highest and lowest open may work better for those trading during the first 8 hours of the day. Cheers, Mate!

Hi TooSlow,

Thank you for sharing the method,
I will try to trade using the previous day high and low,
and also try to trade when London Session until the NY Open because what i learn when Asian session start it's only have 3-4 H1 Bars .
when London Session start it's already have 10 H1 Bars, so it's have a better range to trade.

I will try to do the 10 Challenge start in monday on USD/JPY.
  • #13,863
  • Feb 23, 2019 10:48am Feb 23, 2019 10:48am
Talk about R:R AFTER you take a 10 Day Challenge. Either this method is profitable for YOU or it isn't. Only one real way to find out for sure. PUSU!!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,864
  • Edited 1:47pm Feb 24, 2019 1:09pm | Edited 1:47pm
Hi! I'm new on this thread and have some rookie questions

1. NZDUSD M15
2. GBPUSD M15
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZDUSDHoLo.png Size: 106 KB
Click to Enlarge Name: GBPUSDm15.png Size: 62 KB
  • #13,865
  • Feb 24, 2019 2:03pm Feb 24, 2019 2:03pm
Quoting Toppi
Hi! I'm new on this thread and have some rookie questions 1. NZDUSD M15 2. GBPUSD M15 {image} {image}
Answers:

Incremental 5 pip moves from entry level.
Yes.
Yes.
  • #13,866
  • Feb 24, 2019 2:23pm Feb 24, 2019 2:23pm
Quoting lemercenaire
{quote} Answers: Incremental 5 pip moves from entry level. Yes. Yes.
Thanks, how about other lines, is that pivots. Do we need for trading? Tomorrow I try to get some demo trades
  • #13,867
  • Feb 24, 2019 2:59pm Feb 24, 2019 2:59pm
Quoting Toppi
{quote} Thanks, how about other lines, is that pivots. Do we need for trading? Tomorrow I try to get some demo trades
Sorry, missed those.

Yes, they are pivots and s/r off those.

They are not needed as such, no. If you know how to use pivots properly, then use them, if not, don't go near.
  • #13,868
  • Feb 24, 2019 3:16pm Feb 24, 2019 3:16pm
Quoting lemercenaire
{quote} Sorry, missed those. Yes, they are pivots and s/r off those. They are not needed as such, no. If you know how to use pivots properly, then use them, if not, don't go near.
Thanks, for the answer. I start without pivots just simple on demo from start...
  • #13,869
  • Feb 24, 2019 10:44pm Feb 24, 2019 10:44pm
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 75 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,870
  • Feb 24, 2019 10:45pm Feb 24, 2019 10:45pm
Quoting Toppi
Hi! I'm new on this thread and have some rookie questions 1. NZDUSD M15 2. GBPUSD M15 {image} {image}
READ POST #1
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,871
  • Feb 24, 2019 10:46pm Feb 24, 2019 10:46pm
Who is taking the 10 trade challenge the week of FEBRUARY 24, 2019?

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
  • #13,872
  • Feb 25, 2019 6:58am Feb 25, 2019 6:58am
First Trade of USDJPY

Got stop at BE+1

the USDJPY not moving much today, so only 1 trade today.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.JPG Size: 236 KB
  • #13,873
  • Feb 25, 2019 7:29am Feb 25, 2019 7:29am
Quoting Fx-ken
First Trade of USDJPY Got stop at BE+1 the USDJPY not moving much today, so only 1 trade today. {image}
Think of when you are looking for trades on this pair here. What are the respective markets doing at that time?

Now look at the time of day TooSlow trades UJ.
  • #13,874
  • Feb 25, 2019 9:53am Feb 25, 2019 9:53am
think a new trade is forming on usd/jpy

guess not keeps making higher highs
  • #13,875
  • Feb 25, 2019 12:42pm Feb 25, 2019 12:42pm
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 63 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #13,876
  • Feb 25, 2019 1:34pm Feb 25, 2019 1:34pm
Quoting TooSlow
{image}

how did you catch this one was watching but price didn't test the high just came down from the open leave no room for entry order
  • #13,877
  • Feb 26, 2019 12:45am Feb 26, 2019 12:45am
Quoting TooSlow
{quote} READ POST #1
I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION

Have I got this right? Valid trade is only the first time price visit (area of interest) and if I miss "Sell short at the highest H1 open after price goes up through it and comes back down" I wait...

Sometimes price pumping up and down into (area of interest) so how long time we wait?

Thanks
Torbjorn
  • #13,878
  • Feb 26, 2019 1:33am Feb 26, 2019 1:33am
Quoting Toppi
{quote} I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION Have I got this right? Valid trade is only the first time price visit (area of interest) and if I miss "Sell short at the highest H1 open after price goes up through it and comes back down" I wait... Sometimes price pumping up and down into (area of interest) so how long time we wait? Thanks Torbjorn
I usually delete my pending orders when the stop is hit (price goes out of area of interest) or when there is a new highest/lowest open.
  • #13,879
  • Feb 26, 2019 1:43am Feb 26, 2019 1:43am
USDJPY M15 - still run

Is this correct entry?
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY M15.png Size: 150 KB
  • #13,880
  • Feb 26, 2019 3:04am Feb 26, 2019 3:04am
Quoting Toppi
{quote} I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION Have I got this right? Valid trade is only the first time price visit (area of interest) and if I miss "Sell short at the highest H1 open after price goes up through it and comes back down" I wait... Sometimes price pumping up and down into (area of interest) so how long time we wait? Thanks Torbjorn
If the Area of interest is still in place, then it's still valid. However, pay attention to price action in the lead up to every retest. On a potential short for instance, are you beginning to see higher lows and higher highs on the m5 or m1?

Although there is no fixed rule, it makes sense not to poke the bear too many times.
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