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Highest Open / Lowest Open Trade

  • #15,581
  • Mar 6, 2021 6:49am Mar 6, 2021 6:49am
Hey TooSlow!

I will be taking the challenge next week and will upload my charts; trading Cable.

I have been revising the thread again and came across your posts regarding counting candles. I really like this technique and I think it is a simple way to gauge what the market is telling us.

I was wondering, do you do this exercise (count candles) for the current day? Or would you also consider green/red candle counts for days prior?

Thank you for all your work and consistency on this thread!
  • #15,582
  • Mar 6, 2021 11:13am Mar 6, 2021 11:13am
Hi all, hi TooSlow !
Im newbie, i read over 60pages of your thread. This is some trades that i tried trading with chart in the past. How do you think ? All entries are right ?
Hope u reply. Thank you !
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right ?
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righ plade but wrong time ?
  • #15,583
  • Mar 7, 2021 10:20am Mar 7, 2021 10:20am
Quoting EzoolFX
Hey TooSlow! I will be taking the challenge next week and will upload my charts; trading Cable. I have been revising the thread again and came across your posts regarding counting candles. I really like this technique and I think it is a simple way to gauge what the market is telling us. I was wondering, do you do this exercise (count candles) for the current day? Or would you also consider green/red candle counts for days prior? Thank you for all your work and consistency on this thread!
Mate, I don't understand your question.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,584
  • Mar 7, 2021 10:22am Mar 7, 2021 10:22am
Quoting MaxNe0
Hi all, hi TooSlow ! Im newbie, i read over 60pages of your thread. This is some trades that i tried trading with chart in the past. How do you think ? All entries are right ? Hope u reply. Thank you ! {image} right ? {image} righ plade but wrong time ?
The HOLO lines look spot on, Mate. Can't see your trade entries on your charts.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,585
  • Mar 7, 2021 12:00pm Mar 7, 2021 12:00pm
Quoting TooSlow
{quote} The HOLO lines look spot on, Mate. Can't see your trade entries on your charts.
Hi TooSlow, Tks for your reply
I noted on my chart and after price moved in my direction.
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And this is my losed trade, right place but wrong time ?

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Did i take right day's high and HO ?
Thank you !
  • #15,586
  • Mar 7, 2021 8:49pm Mar 7, 2021 8:49pm
Am i the only one who can't see the paperclip?

I was studing this thread today and could not find the paperclip nor in google chrome or firefox or any other pc i have ?
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MTN
  • #15,587
  • Mar 7, 2021 10:47pm Mar 7, 2021 10:47pm
Quoting MaxNe0
{quote} Hi TooSlow, Tks for your reply I noted on my chart and after price moved in my direction. {image} And this is my losed trade, right place but wrong time ? {image}Did i take right day's high and HO ? Thank you !
That was not the highest open. Go back 3 candles, Mate.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,588
  • Mar 7, 2021 10:51pm Mar 7, 2021 10:51pm
Who is taking the 10 trade challenge the week of March 7, 2021?

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
  • #15,589
  • Mar 7, 2021 10:51pm Mar 7, 2021 10:51pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,590
  • Mar 8, 2021 6:08am Mar 8, 2021 6:08am
Quoting TooSlow
{quote} Mate, I don't understand your question.
Looks like I was tired when I wrote my question, because I can barely understand it as well! LOL! Apologies.

I kind of figured out what I was looking for anyways.

Trading GU currently, no set ups as of yet since I jumped on the charts.

Will keep updating!
  • #15,591
  • Mar 8, 2021 8:49am Mar 8, 2021 8:49am
A couple of opportunities today on GU if using 1M Opens in area of interest. I am waiting for a 5 or 15m, so no trades for myself so far.
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  • #15,592
  • Edited 10:11am Mar 8, 2021 9:55am | Edited 10:11am
In long on GU, got in with a market order rather than a buy stop as 5M open was so close to the H1 LO, puts me a pip above - not a perfect entry. We are above Friday and yesterday's low, so happy to long here.

Will post result.

EDIT: Stopped out at BE+1 (blue marker). Moved stop up when bid was +5. Will we see a huge surge upwards that leaves me in the dust? Who knows... all that matters is that I followed the plan and took a profit!
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  • #15,593
  • Mar 10, 2021 6:47am Mar 10, 2021 6:47am
Took a 1M entry today, as I am doing nothing but trading.

GU Long +15. Once again, not a perfect entry as I got in at the market and price was moving pretty rapidly, I got filled 1 pip over the lowest hourly open, so not too bad.

Blue Marker = Entry
Red Marker = Exit

Let's keep it going!
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  • #15,594
  • Edited Mar 11, 2021 4:12am Mar 10, 2021 10:10am | Edited Mar 11, 2021 4:12am
GU Short +25. 5M open in area of interest. Rejected nicely from yesterday's high. Distance between Highest Hourly Open and Daily High was pretty wide (23 pips), however I was confident we would fall to today's open, so targeted that. It played out well!

Blue X = trigger candle

Red X = exit candle (exited precisely on daily open)

Let's keep it going!
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  • #15,595
  • Mar 11, 2021 5:44am Mar 11, 2021 5:44am
Hello, how are you all? I hope everything is well

I was just reading the strategy. I am trying to create an EA using this strategy to see the overall performance.

I am a bit confused, because I do not know where to place the lines regarding the following statement:
"Place a line at the highest H1 open and lowest H1 open for the current day."

How does that work? Like the day did not end, so where do I place the lines?
  • #15,596
  • Mar 11, 2021 9:15am Mar 11, 2021 9:15am
Quoting ramimoujaes
Hello, how are you all? I hope everything is well I was just reading the strategy. I am trying to create an EA using this strategy to see the overall performance. I am a bit confused, because I do not know where to place the lines regarding the following statement: "Place a line at the highest H1 open and lowest H1 open for the current day." How does that work? Like the day did not end, so where do I place the lines?
I am not trying to discourage you about your thoughts, but unless there is something that I missed and OP changed his mind, his original words that I quote here
Quote
Please do not discuss or mention EAs in this thread. EAs are not welcome here.
  • #15,597
  • Mar 11, 2021 9:49am Mar 11, 2021 9:49am
You are right. My apologies.
In order for me to better understand the strategy, I would like to know where do I place the lines since the day is not over?
  • #15,598
  • Mar 11, 2021 10:31am Mar 11, 2021 10:31am
Quoting ramimoujaes
You are right. My apologies. In order for me to better understand the strategy, I would like to know where do I place the lines since the day is not over?
At the highest H1 open and lowest H1 open for the current day?
  • #15,599
  • Mar 11, 2021 10:40am Mar 11, 2021 10:40am
Quoting Wizzlebizzle
{quote} At the highest H1 open and lowest H1 open for the current day?
But the current day did not end, correct?
If I open D1 chart, the current day is not over, so where do I place the line?
  • #15,600
  • Edited 11:36am Mar 11, 2021 10:59am | Edited 11:36am
Quoting ramimoujaes
{quote} But the current day did not end, correct? If I open D1 chart, the current day is not over, so where do I place the line?
Have a look at this. https://www.forexfactory.com/thread/...58#post9007658
and this https://www.forexfactory.com/thread/...45#post8952745
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