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Trading is as simple as 1-2-3

  • #9,461
  • Dec 26, 2019 8:20am Dec 26, 2019 8:20am
Quoting mge0rge
Don't you wait for the close of the second bar (the one that fails to break the H or L or the prev bar ) ? As long as the bar did not close it could make a higher high during that bar. I am thinking a way o using this strategy is to find this setup on H1 then go down some time frames and and scalp it? The day open is a bit subjective i think ,around the world the day starts at different times ..the day open for me would be the open of the asian session .as i am in europe.
Hello mge0rge,

Correct, but if you see where I sold (first red dot on my chart) which broke the low of the close away from the close of the previous bar.
Hope this makes sense?

I could have set to +5 and let it run but in my case I am happy with +5 pips per trade.

Please get back to me if your not happy with my reply.

Best regards,

DT
  • #9,462
  • Dec 26, 2019 11:36am Dec 26, 2019 11:36am
So you just place a pending order below the close of the bar that made the new high ?
  • #9,463
  • Dec 26, 2019 12:01pm Dec 26, 2019 12:01pm
Yes that's correct.

In this case I placed the trade live as I watched it progress

DT
  • #9,464
  • Dec 26, 2019 12:30pm Dec 26, 2019 12:30pm
So First you wait for it to go up towards the high , and if it comes back without breaking the high you are ready to sell 1pip or 2 bellow the close?
  • #9,465
  • Dec 26, 2019 12:38pm Dec 26, 2019 12:38pm
Quoting mge0rge
Don't you wait for the close of the second bar (the one that fails to break the H or L or the prev bar ) ? As long as the bar did not close it could make a higher high during that bar. I am thinking a way o using this strategy is to find this setup on H1 then go down some time frames and and scalp it? The day open is a bit subjective i think ,around the world the day starts at different times ..the day open for me would be the open of the asian session .as i am in europe. I don't really get the buy above the open and sell bellow the open...If I...

No.

The bar does not need to close.

The day open is the broker open. It is not the session open but midnight in your locale.

If you want to learn 1-2-3 then do TooSlow the courtesy of learning his method as posted and has been proven to work.

If you want to run your add-ons, changing the whole concept into something else, then it is easy enough to open your own thread.
  • #9,466
  • Dec 26, 2019 1:42pm Dec 26, 2019 1:42pm
I was a suggestion
  • #9,467
  • Dec 26, 2019 5:01pm Dec 26, 2019 5:01pm
So First you wait for it to go up towards the high , and if it comes back without breaking the high you are ready to sell 1pip or 2 bellow the close?
And i guess that you also need a tail on the candle to work with ? if the close is at the high how would you trade that ?
  • #9,468
  • Dec 27, 2019 9:02am Dec 27, 2019 9:02am
NZDJPY . Exit +13 . DT .
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  • #9,469
  • Dec 27, 2019 9:07am Dec 27, 2019 9:07am
USDJPY. Exit +5.

@doubletop. How do you find eligible pairs, a manual scan or a scanner of sorts?
Buy low, sell high.
  • #9,470
  • Dec 27, 2019 9:13am Dec 27, 2019 9:13am
Quoting HappyMan
USDJPY. Exit +5. @doubletop. How do you find eligible pairs, a manual scan or a scanner of sorts?
Good afternoon HappyMan,

Purely a manual scan, as I generally check on potential setups 15 mins before the hour.

Cheers, DT
  • #9,471
  • Dec 27, 2019 10:36am Dec 27, 2019 10:36am
where was your stop ? what was your r/r ?
  • #9,472
  • Dec 27, 2019 10:47am Dec 27, 2019 10:47am
Quoting mge0rge
where was your stop ? what was your r/r ?
If you have read through Post1 you would know the answer.

Do some research.
  • #9,473
  • Dec 27, 2019 11:42am Dec 27, 2019 11:42am
didn't really get it ... at the high ?
  • #9,474
  • Dec 27, 2019 12:04pm Dec 27, 2019 12:04pm
Correct.

As in Page 1

Regards DT
  • #9,475
  • Dec 27, 2019 2:01pm Dec 27, 2019 2:01pm
that is some stop loss.
do you manage to get at least 1:1 ? 5 or 10 pips don't mean anything to me if the stop is 25
  • #9,476
  • Dec 27, 2019 2:58pm Dec 27, 2019 2:58pm
Quoting mge0rge
that is some stop loss. do you manage to get at least 1:1 ? 5 or 10 pips don't mean anything to me if the stop is 25
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  • #9,477
  • Dec 29, 2019 3:30pm Dec 29, 2019 3:30pm
I guess simple things give head aches ...
Is this what you mean ?
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  • #9,478
  • Dec 29, 2019 3:40pm Dec 29, 2019 3:40pm
Quoting mge0rge
I guess simple things give head aches ... Is this what you mean ? {image}
Entry is the Open level, not Close.
  • #9,479
  • Dec 29, 2019 3:52pm Dec 29, 2019 3:52pm
jesus crist man...you guys are driving me crazy here
tooslow said "Sell when price drops below the open price of the current bar."
tooslow ,what do you have to say ?
  • #9,480
  • Dec 29, 2019 4:08pm Dec 29, 2019 4:08pm
Quoting mge0rge
jesus crist man...you guys are driving me crazy here tooslow said "Sell when price drops below the open price of the current bar." tooslow ,what do you have to say ?
Lol, just yanking your chain bud.

You enter at the Open level.

Sorry, couldn't resist it.

I have on many, many occasions posted up the three steps to the method in three small sentences. I am sure you can find one of them if you really try.
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