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Highest Open / Lowest Open Trade

  • #15,621
  • Mar 18, 2021 3:22am Mar 18, 2021 3:22am
Quoting LooseMyMoney
{quote} 3 rd 10 TRADE challenge started {image} +21,6 pips ( +2,11%) So far I need only 2 lines and chart. I am still not sure If I wll use provided indicators. It could confuse my thinking Green pips to all
Edit the indicator so it only shows the two lines you need!
  • #15,622
  • Mar 18, 2021 8:23am Mar 18, 2021 8:23am
I see add notes and pdf files
So Too SLow's rules are exactly this:
Place a line at the highest H1 open and lowest H1 open for the current day.

Sell short at the highest H1 open after price goes up through it and comes back down.

Buy at the lowest H1 open after price goes down through it and comes back up.
  • #15,623
  • Mar 18, 2021 8:42am Mar 18, 2021 8:42am
Quoting Dulof
I see add notes and pdf files So Too SLow's rules are exactly this: Place a line at the highest H1 open and lowest H1 open for the current day. Sell short at the highest H1 open after price goes up through it and comes back down. Buy at the lowest H1 open after price goes down through it and comes back up.
15 min or 5 min candle has to open in the area of interest before valid, not just price dip in and out.
  • #15,624
  • Mar 18, 2021 9:13am Mar 18, 2021 9:13am
Quoting Dulof
I see add notes and pdf files So Too SLow's rules are exactly this: Place a line at the highest H1 open and lowest H1 open for the current day. Sell short at the highest H1 open after price goes up through it and comes back down. Buy at the lowest H1 open after price goes down through it and comes back up.
for experienced traders it could be also M1, I wait usually for M15 candle to close in this area and also starting using M5 if PRICE is sideways enough. The goal is to go in the direction with PRICE not against. Make it your own.


Green pips
  • #15,625
  • Mar 18, 2021 11:31pm Mar 18, 2021 11:31pm
Quoting lemercenaire
{quote} 15 min or 5 min candle has to open in the area of interest before valid, not just price dip in and out.
Thanks, you are wonderful
I'm still trading on the 1-2-3 method, but in HoLo I see the SL being smaller
  • #15,626
  • Mar 19, 2021 1:20am Mar 19, 2021 1:20am
When a H1 low/high level is used once (opened a position, closed by either stopped out or take profit), is the level still valid for the day? I.e. if later price revisits the level without making a new H1 low/high that overrides the level, can I re-open a position on the level again (after satisfying price requirement in the control time frame e.g M5/M15)?

Attached Image

For example, today's GBP H1[0] low is made on the opening of candle 4:

  1. Price has made a new open low in the control timeframe M5
  2. Position is opened at the H1[0] price when price comes back to it
  3. In candle 5, position is stopped out at BE+1
  4. Candle 6 open higher than H1[0], so no new H1[0] (Still remain the candle 4's open)
  5. In candle 6, price closed lower than H1[0] in the control timeframe M5

Question: In candle 6, when price comes back up and revisit H1[0], can I open another position? In this example the position would be profitable (stopped out at BE+10) if openend within the candle 6.

Intuitively, my answer is yes, otherwise we will miss a lot of opportunities especially since it is often H1[0] low/high is already made during Asian session but due to low volatility position made during Asian session is often stopped out early.

I've been trying to search for an answer for this question in the earlier pages, but can't find any definite answer.

  • #15,627
  • Mar 19, 2021 2:37am Mar 19, 2021 2:37am
Is this a valid entry ?
can anyone answer for me?
Attached Image (click to enlarge)
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  • #15,628
  • Mar 19, 2021 2:42am Mar 19, 2021 2:42am
Quoting Dulof
Is this a valid entry ? can anyone answer for me? {image}
yes, thats a valid entry.
trading is like dancing, don't think and just listen to the music!
  • #15,629
  • Mar 19, 2021 2:46am Mar 19, 2021 2:46am
Quoting _Anonymous_
When a H1 low/high level is used once (opened a position, closed by either stopped out or take profit), is the level still valid for the day? I.e. if later price revisits the level without making a new H1 low/high that overrides the level, can I re-open a position on the level again (after satisfying price requirement in the control time frame e.g M5/M15)? {image} For example, today's GBP H1[0] low is made on the opening of candle 4: Price has made a new open low in the control timeframe M5 Position is opened at the H1[0] price when price comes...
Here is your answer, nothing more nothing less. H1 open is valid until lower/higher OPEN is made, 1 Trade per 1 Candle, multiple opportunities until new lowes/highest H1 OPEN is made

https://www.forexfactory.com/thread/...58#post9007658
  • #15,630
  • Mar 19, 2021 3:06am Mar 19, 2021 3:06am
Quoting _Anonymous_
When a H1 low/high level is used once (opened a position, closed by either stopped out or take profit), is the level still valid for the day? I.e. if later price revisits the level without making a new H1 low/high that overrides the level, can I re-open a position on the level again (after satisfying price requirement in the control time frame e.g M5/M15)? {image} For example, today's GBP H1[0] low is made on the opening of candle 4: Price has made a new open low in the control timeframe M5 Position is opened at the H1[0] price when price comes...
Yes. It's still valid.
  • #15,631
  • Mar 19, 2021 3:37am Mar 19, 2021 3:37am
Quoting LooseMyMoney
{quote} Here is your answer, nothing more nothing less. H1 open is valid until lower/higher OPEN is made, 1 Trade per 1 Candle, multiple opportunities until new lowes/highest H1 OPEN is made https://www.forexfactory.com/thread/...58#post9007658
Quoting lemercenaire
{quote} Yes. It's still valid.
Thanks, I got it now
  • #15,632
  • Mar 19, 2021 8:42am Mar 19, 2021 8:42am
Hello guys,
another week finished.

I moved from last week red numbers to black

+5,19% equity so far

Choosing correct market situation is crucial. If you avoid FREIGHT TRAINS which I did this week, it will keep you on correct track. I must admit that my trade management is still not good. After first half position reach target +5 pips I still have no good sense of PRICE about retracements and moving SL to correct level and usually deeper retracement on the way take my SL and PRICE continues more without me. I lost 2 trades this week with possibility with potencial 5x reward and 4x reward ration which will improve my equity even more.



Question for next week is "if I will provide price more space to breath during retracement on the way to bigger reward or keep SL tighter, take winnings smaller and steady"

Green pips to all



Always be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it.

– Bruce Lee

  • #15,633
  • Mar 19, 2021 7:05pm Mar 19, 2021 7:05pm
Quoting LooseMyMoney
Hello guys, another week finished. I moved from last week red numbers to black +5,19% equity so far Choosing correct market situation is crucial. If you avoid FREIGHT TRAINS which I did this week, it will keep you on correct track. I must admit that my trade management is still not good. After first half position reach target +5 pips I still have no good sense of PRICE about retracements and moving SL to correct level and usually deeper retracement on the way take my SL and PRICE continues more without me. I lost 2 trades this week with possibility...
If you're in learning mode and not using the tools provided, don't expect help because your cup is not empty.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,634
  • Mar 19, 2021 7:09pm Mar 19, 2021 7:09pm
Quoting EzoolFX
No set ups yesterday, wanted to avoid the bullish freight train that was GU. Today though, I want to reflect on something. Hesitation led me to miss out on a big opportunity, but I didn't succumb to FOMO, I kept my cool and didn't jump in for the sake of it. I guess that's a good thing? After GU travels 100ish pips, we normally see a fade back towards the daily open. The idea was there, the HOLO entry was there... the execution was not. In the image, you can see we had a 1M open in the area of interest, followed by a very nice bullish move. However,...
Yes, you may share your trading progress. You appear to be willing to learn by using the tools provided.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,635
  • Mar 20, 2021 9:28am Mar 20, 2021 9:28am
Back to this thread after almost 5 years. I'm going to try live next week. Thanks to TooSlow.
-happyTrading-myFx.
  • #15,636
  • Mar 21, 2021 6:39am Mar 21, 2021 6:39am
Greetings,

I have a small question to ask. When using this strategy, should you give it time? For instance if it is a new day, then we are starting from 0 correct? So, should we give some time before executing this strategy? If yes, how much time is reasonable to give?

Also, is it possible to provide me a little bit more details regarding the following:

"When price breaks through yesterday's high or low or makes a new high or low today, that is a breakout!
Trade the reversal with caution"

So, how do we do that? Any specific strategy?

Thank you so much for your reply
  • #15,637
  • Mar 22, 2021 1:47am Mar 22, 2021 1:47am
Quoting TooSlow
{quote} If you're in learning mode and not using the tools provided, don't expect help because your cup is not empty.
Understood.
Please accept my apologize for messing thread with incorrect provided tools

Fresh week start

+20,9 pips

Attached Image (click to enlarge)
Click to Enlarge Name: tooslow.png Size: 61 KB
  • #15,638
  • Mar 22, 2021 2:38am Mar 22, 2021 2:38am
Quoting LooseMyMoney
{quote} Understood. Please accept my apologize for messing thread with incorrect provided tools Fresh week start +20,9 pips {image}
+5,8 pips

Attached Image (click to enlarge)
Click to Enlarge Name: tooslow1.png Size: 60 KB
  • #15,639
  • Mar 22, 2021 8:49am Mar 22, 2021 8:49am
Who is taking the 10 trade challenge the week of March 21, 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
  • #15,640
  • Mar 22, 2021 8:50am Mar 22, 2021 8:50am
Quoting LooseMyMoney
{quote} Understood. Please accept my apologize for messing thread with incorrect provided tools Fresh week start +20,9 pips {image}
You corrected. That is what matters. Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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