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Highest Open / Lowest Open Trade

  • #15,841
  • Sep 11, 2021 2:17pm Sep 11, 2021 2:17pm
Quoting Sepp1985
{quote} Hmmm...but the setup was not entirely correct. The entry candle did not open within the area. So, just a touch would not be valid, right?
I bent the rules.
You have to master the method first, before you can bend the rules.

Attached Image
  • #15,842
  • Sep 15, 2021 2:25pm Sep 15, 2021 2:25pm
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 62 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,843
  • Sep 15, 2021 4:18pm Sep 15, 2021 4:18pm
TooSlow, maybe I'm too slow in my head But I don't understand when you take the trade and when it's ending. Please give me some more information. Well, maybe you be angry and say read 1 page and then come back to me...

Thanks
Toppi
  • #15,844
  • Sep 18, 2021 9:46am Sep 18, 2021 9:46am
Quoting Toppi
TooSlow, maybe I'm too slow in my head But I don't understand when you take the trade and when it's ending. Please give me some more information. Well, maybe you be angry and say read 1 page and then come back to me... Thanks Toppi
No anger at all, Mate, it's just trading. You take the trade when price crosses below the current highest H1 open or crosses above the current lowest H1 open. Do you understand that part?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,845
  • Sep 18, 2021 9:47am Sep 18, 2021 9:47am
Who is taking the 10 trade challenge the week of SEPTEMBER 19, 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!

PLEASE READ ALL OF POST #1
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,846
  • Sep 21, 2021 6:16am Sep 21, 2021 6:16am
Good morning, TS.
I trust this finds you well and clear from the dreaded virus and riding the wave of success.
Since our last discussion, I have been rather successful with this way of trading until yesterday when I realized that I am doing something wrong when entering trades that have been running during the Asian session.
Although I had a good trade in terms of money banked, I saw my fault a little later when I was ready to enter "against" the current direction again.
This was shortly before Chicago opened when I was successful but was shocked into taking stock for the next entry. Thereafter I missed the continuation which is a sin.
Please be so kind as to explain to me what exactly is meant by "BUY @ LOWEST OPEN WHEN PRICE COMES BACK UP" in my case. Attached for your kind perusal is my chart on M15.
Attached Image (click to enlarge)
Click to Enlarge Name: ee801918341b2d941e069501109969b3.png Size: 107 KB
I took the LONG at the OPEN of the H1 candle after the price dipped under the Open and came back UP again (point marked as "E"
"B" shows break-out underneath the previous LOW.
"C" was my wake-up call when I was contemplating taking another Long such as my first trade. This is where I need advice, please. Pure misunderstanding/interpretation of your call for sure. Sorry about that.
"D" would have been easy, but it was late in my evening although I felt that I could trade that long easily.

In real terms, I would understand that the price has to make a Lower Low and come back UP again for the long, but my confusion overpowered me at the time.

Thank you for replying at your convenience and wishing you continued success.
Hercs.
Hercs
  • #15,847
  • Sep 21, 2021 4:40pm Sep 21, 2021 4:40pm
Quoting Hercs
... "C" was my wake-up call when I was contemplating taking another Long such as my first trade. This is where I need advice, please. Pure misunderstanding/interpretation of your call for sure. Sorry about that.....
"C" - The green candle after the red candle made the lowest open.

You're not using the HOLO indicator. Can't tell where the H1 Lowest Open was.

Quoting Hercs
... Please be so kind as to explain to me what exactly is meant by "BUY @ LOWEST OPEN WHEN PRICE COMES BACK UP" in my case. .....
A M5 bar must open below the H1 lowest open in order to have a valid entry.

Does this help you understand? Cheers, Mate!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,848
  • Sep 22, 2021 1:02am Sep 22, 2021 1:02am
Quoting TooSlow
{quote} "C" - The green candle after the red candle made the lowest open. You're not using the HOLO indicator. Can't tell where the H1 Lowest Open was. {quote} A M5 bar must open below the H1 lowest open in order to have a valid entry. Does this help you understand? Cheers, Mate!
ABSOLUTELY and thank you ever so much, TS.
Continued success to you.
Hercs.
Hercs
  • #15,849
  • Sep 23, 2021 4:58pm Sep 23, 2021 4:58pm
I hope you guys can forgive me for my questions that may seem dumb. I humbly ask the questions to help get confirmation to concrete the strategy.

In the following picture the black solid line around price is the highest H1 Open. I have two questions :

1) is it correct for a valid entry. That price will have to enter the Area of Interest, then a M5 or M15 candle opening in the area of interest and move downwards crossing the Highest H1 open( not waiting for candle to close ) ?

2) what happens when the spread is wide as in the picture. Is it recommended to wait on the spread to close in or do we take the trade and add the spread to the SL ??
Attached Image (click to enlarge)
Click to Enlarge Name: 1. Spread and Entry.png Size: 22 KB
  • #15,850
  • Sep 24, 2021 1:16am Sep 24, 2021 1:16am
Quoting furgz1129
I hope you guys can forgive me for my questions that may seem dumb. I humbly ask the questions to help get confirmation to concrete the strategy. In the following picture the black solid line around price is the highest H1 Open. I have two questions : 1) is it correct for a valid entry. That price will have to enter the Area of Interest, then a M5 or M15 candle opening in the area of interest and move downwards crossing the Highest H1 open( not waiting for candle to close ) ? 2) what happens when the spread is wide as in the picture. Is it recommended...
Hello,
1) we recommend to use template that is suitable for this method. Get rid of indicators that you donīt need for this method if you want to learn it.

2)Did you read at lease first page of this thread? IF yes you have already forgotten what is written there? Get back and read again. I did it many times until it grasps.

READ first ASK later! How you want to be profitable if you canīt read just first page method that you want to trade you have no much chance to be profitable with it.

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.
This may help those who are trigger happy to wait:

M15 bar must open below the lowest H1 open before you can enter.

M15 bar must open above the highest H1 open before you can enter.

Price will be moving in your direction when you enter the trade.

https://www.forexfactory.com/thread/...58#post9007658

3) at daily close SPREAD is wider, wait until Tokyo open and trade it once liquidity a volatility get back


Take care
  • #15,851
  • Sep 24, 2021 6:32am Sep 24, 2021 6:32am
Dear Too Slow,

can you give an example of rule no 1,
no entry on H1, M15 and M5 breakout bars, Thanks.
  • #15,852
  • Edited 10:07am Sep 24, 2021 9:55am | Edited 10:07am
TooSlow / Do you make any accommodations for Economic Reports such as FOMC?
OK; I will answer my own question after re-reading the rules. NO
A traders greatest enemy is boredom.
  • #15,853
  • Sep 24, 2021 10:36am Sep 24, 2021 10:36am
Quoting sam321
Dear Too Slow, can you give an example of rule no 1, no entry on H1, M15 and M5 breakout bars, Thanks.
When H1, M15 and M5 make a new daily high or a new daily low, do not enter a HOLO trade.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,854
  • Sep 24, 2021 1:04pm Sep 24, 2021 1:04pm
Attached Image (click to enlarge)
Click to Enlarge Name: TOOSLOW.png Size: 64 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,855
  • Sep 24, 2021 1:07pm Sep 24, 2021 1:07pm
Quoting Joe SDF
TooSlow / Do you make any accommodations for Economic Reports such as FOMC? OK; I will answer my own question after re-reading the rules. NO
Well done, Mate. Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,856
  • Sep 24, 2021 9:05pm Sep 24, 2021 9:05pm
Quoting LooseMyMoney
{quote} Hello, 1) we recommend to use template that is suitable for this method. Get rid of indicators that you donīt need for this method if you want to learn it. 2)Did you read at lease first page of this thread? IF yes you have already forgotten what is written there? Get back and read again. I did it many times until it grasps. READ first ASK later! How you want to be profitable if you canīt read just first page method that you want to trade you have no much chance to be profitable with it. Sell short at the highest H1 open after price goes...

My apologies. Thank you for you time and response. Will address the template and continue to work on the rules. Also refresh myself of the rules. Thanks!
  • #15,857
  • Sep 25, 2021 11:34am Sep 25, 2021 11:34am
Who is taking the 10 trade challenge the week of SEPTEMBER 26, 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!

PLEASE READ ALL OF POST #1
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,858
  • Sep 27, 2021 9:09pm Sep 27, 2021 9:09pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #15,859
  • Sep 28, 2021 4:55am Sep 28, 2021 4:55am
learning with profit, thank you so much Too Slow.
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  • #15,860
  • Sep 28, 2021 6:09am Sep 28, 2021 6:09am
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