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Highest Open / Lowest Open Trade

  • #16,141
  • Feb 21, 2022 6:56pm Feb 21, 2022 6:56pm
Trade #17
UJ Long +5, +6
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Wow! I've got some experience to gain.
  • #16,142
  • Feb 23, 2022 3:57pm Feb 23, 2022 3:57pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #16,143
  • Feb 23, 2022 10:14pm Feb 23, 2022 10:14pm
Quoting TooSlow
{image}
Hi, trying to understand this. So you can enter here correct? Candle that opened between HH and HO, shorting once it reaches the HO.
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Right now on the UJ chart, the first three candles are ignored as price broke out of yesterday's range. But once it goes back within range with the big green candle, there are opportunities to short in that small space between the HH and HO.
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  • #16,144
  • Feb 23, 2022 10:54pm Feb 23, 2022 10:54pm
Quoting jtan11
{quote} Hi, trying to understand this. So you can enter here correct? Candle that opened between HH and HO, shorting once it reaches the HO. {image} Right now on the UJ chart, the first three candles are ignored as price broke out of yesterday's range. But once it goes back within range with the big green candle, there are opportunities to short in that small space between the HH and HO. {image}{image}
Use the indicator and template that I have provided. There won't be any questions where the HOLOs are.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #16,145
  • Edited Feb 24, 2022 1:12am Feb 23, 2022 11:58pm | Edited Feb 24, 2022 1:12am
Quoting TooSlow
{quote} Use the indicator and template that I have provided. There won't be any questions where the HOLOs are.
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I assume these are the ones. So regarding UJ again, would it have been valid to short the candle in the yellow box, that had opened inside the HH/HO zone (although just barely) and moved toward the HO?

Would you recommend using the template here instead as I'm still going through the thread and not sure what's the use for Lower Open 25, 20 etc.
https://www.forexfactory.com/thread/...84#post9188784
  • #16,146
  • Edited 5:12am Feb 24, 2022 3:59am | Edited 5:12am
I'm still having trouble understanding some of the entries. For example, I see these two were shorted:

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My question is, how do you know to short in those positions, when the prior candles had also formed HHs for the day and candles on the lower timeframes would have opened inside the area of interests. What about these positions:

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And is this an accurate example of how to enter on the M15 timeframe?

https://i.imgur.com/6oB2TAG.gif
  • #16,147
  • Edited 7:22pm Feb 24, 2022 8:25am | Edited 7:22pm
Is this it? Price barely managed to open inside the area of interest but it's moving well

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Result:
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H1HO was 115.08, price dropped to 114.92.
  • #16,148
  • Edited 7:23pm Feb 24, 2022 6:20pm | Edited 7:23pm
UJ now in an area of interest and about 10 pips within yesterday's range

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Result:

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H1HO was 115.55, price went to 115.61 before dropping, now at 115.32.
  • #16,149
  • Feb 24, 2022 7:12pm Feb 24, 2022 7:12pm
Quoting jtan11
UJ now in an area of interest and about 10 pips within yesterday's range {image}
Reading the thread from post #1 is the first step. Then find the MichaelG pdf for the graphic example. Also, for me, the indicator plots too many lines.I posted my stripped-down template a few pages back.

In your example above, UJ is in an H1 breakout, so by the rules you wait until next hour to look for a setup.

Please, read post 1! ....and then some.
Wow! I've got some experience to gain.
  • #16,150
  • Feb 24, 2022 7:36pm Feb 24, 2022 7:36pm
Quoting Lawnman
{quote} Reading the thread from post #1 is the first step. Then find the MichaelG pdf for the graphic example. Also, for me, the indicator plots too many lines.I posted my stripped-down template a few pages back. In your example above, UJ is in an H1 breakout, so by the rules you wait until next hour to look for a setup. Please, read post 1! ....and then some.
But the first post never said to avoid breakouts, it says to trade it with caution, and I've read him saying it means "to move fast". The pdf even explicitly used the day's breakout as an example. To be within the previous day's range is what's cautioned.

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  • #16,151
  • Feb 24, 2022 11:12pm Feb 24, 2022 11:12pm
Quoting TooSlow
{quote} Unless you have the #advancedalientrading indicators my template won't help you. The version of 28 giraia strength I have is modified. You don't need that indicator for this method.
Pls help by sharing the Giraia it's not only this method I'm using it for it has one particular point I need that is for it to display larger timeframe on a lower timeframe some other C's can do it too but I prefer this one can I send you a PM on it?.Thanks
  • #16,152
  • Feb 25, 2022 9:42am Feb 25, 2022 9:42am
Quoting Slingshots1
{quote} Pls help by sharing the Giraia it's not only this method I'm using it for it has one particular point I need that is for it to display larger timeframe on a lower timeframe some other C's can do it too but I prefer this one can I send you a PM on it?.Thanks
It is not mine to share. You have to get it from the coder who modified it.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #16,153
  • Feb 25, 2022 10:30am Feb 25, 2022 10:30am
Quoting TooSlow
{quote} It is not mine to share. You have to get it from the coder who modified it.
can i pm you to tell me the coder pls?
  • #16,154
  • Feb 26, 2022 7:00pm Feb 26, 2022 7:00pm
Who is taking the 10 trade challenge the week of February 27, 2022?

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
  • #16,155
  • Edited 1:54am Mar 1, 2022 12:27am | Edited 1:54am
Quoting TooSlow
Who is taking the 10 trade challenge the week of February 27, 2022? 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
i'm starting today to test in demo...eurusd only and 1% risk per trade

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waiting...
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h1 price went above higher open

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but on M15 price didn't open above H1 higher open so no trade am i correct?
  • #16,156
  • Mar 2, 2022 6:36am Mar 2, 2022 6:36am
so far i had 4 winning trades, 4 losses and 2 breakeven, anyway winning trades were smaller or equal to losses so balance it's not positive
maybe i didn't understand strategy but not sure if it works :-(
  • #16,157
  • Mar 2, 2022 10:05pm Mar 2, 2022 10:05pm
If it's alright with you, I can chime in here for people.


Your chart is just one way of seeing things. Main highs or lows are reached as interest peaks or dries up. A market moves similar to ......


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These 2 swim in the same direction but their tail moves very different to each other. The more interest is shown, the longer it moves. Hence new high or low but maybe not the biggest on the chart.

Big Highs.Lows then layer internal highs/lows.

This HO LO approach is a good example of showing the how and when.

Find what you personally find foreseeable.


Peter
Real Trading is not gambling.
  • #16,158
  • Mar 2, 2022 10:29pm Mar 2, 2022 10:29pm
Quoting PeterCaleb
If it's alright with you, I can chime in here for people. Your chart is just one way of seeing things. Main highs or lows are reached as interest peaks or dries up. A market moves similar to ...... {image} These 2 swim in the same direction but their tail moves very different to each other. The more interest is shown, the longer it moves. Hence new high or low but maybe not the biggest on the chart. Big Highs.Lows then layer internal highs/lows. This HO LO approach is a good example of showing the how and when. Find what you personally find foreseeable....
Feel free to post, Mate. Looking forward to the nuggets you leave. Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #16,159
  • Mar 2, 2022 11:00pm Mar 2, 2022 11:00pm
Well there's a lot that can be said. But I think the main theme to focus on is - don't try and programme yourself with knowledge. A strategy is just a skeleton and learn to draw a steep trend line. This line can be used for rate of change (speed and acceleration of movement) and for a movement breaker. A price chart is just a metaphor never taken literally. The markets have too many moving parts to track indefinitely, so a person needs to learn the basic basics. Up, down, progressive sideways. And learn how to use a magnifying glass. All this time frame stuff is just that in a different format and presentation. Parts of this HOLO strategy is about understanding money and people and then putting it into a process that mimics what the chart shows. Don't be afraid to be someone who uses 2 or more tickets for a single trade setup. Too much lingo BS around. Try to learn to refer to real life whenever possible to keep yourself grounded. A spike on chart is significant for lower TF view. Selling off higher price is discount. Doing it off lower price is carrying a premium/more costly valuation. TF's help to rebalance this effect. 'With trend' carries type 1 stress. 'Against trend' carries type 2 stress. Some people cannot dilute either so good idea to figure out what your strength and weakness is for this early on. Always assume you're the dumbest person in the room re trading until you know otherwise. A HOLO is accessible anytime as long as its part of your plan. TF's WILL contradict at times.



Peter
Real Trading is not gambling.
  • #16,160
  • Mar 2, 2022 11:23pm Mar 2, 2022 11:23pm
If I was learning this strategy from start, I would have a H1 chart with daily rollover marked. Day to day separator. From first open price of daily rollover, draw a very steep trend line up and one down. Almost vertical. The only other thing the market can do from there is go sideways til it gets bid down or it gets pushed up. Then mark the 3 days previous biggest highs and lows.

NOW, bring in your template for HOLO and now just look. Successful trading is about opportunity seen before during after. Now look at your chart and list ALL the things it always does, always has to do. This will anchor you.

Why does it go higher or lower before it moves in a foreseeable direction? Now list as many possible reasons you can think of. This will test your worldly knowledge abut money. Too Slow is giving the seat to do this trade style so it's essential to overlay the basic basics with what is explained here by Too Slow.

If it's easier go to a line chart to start.


Peter
Real Trading is not gambling.
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