Highest Open / Lowest Open Trade

Quoting den83c

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Hi Guys, Another noob question. Can the lowest open be on a bear candle and then enter on say on the 5 minute chart into the next hour (which would technically now be the lowest open) ? Or can the lowest open only be a bull candle and vise versa for highest open only be a bear candle? I hope this makes sense, I have included chart that should get my question across. {image} {image}

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Quoting andy1946

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I'm taking on the challenge Time: October 16 - October 22, 2022 Pair: GBPUSD Risk: 0.01 lot/trade - Trade: 22 / 10 orders Won = 12 pips - Total pips = +76 pips +18 -22 +00 +05 +20 +05 +01 +01 +05 +01 +15 +01 -06 +12 +00 +02 +07 -06 +01 +03 +01 +12 {image} I closed the order too early manually. This missed 25 pips right after. {image}

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Quote

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I closed the order too early manually. This missed 25 pips right after.

Quoting lbtrader

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what happened to the trailing you said you will apply?

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Quoting lbtrader

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{quote} den, the lowest H1 open can be bear or bull it doesn't matter, what matters is the open price, is it the lowest of the day or not (same for the highest open). so if your previous lowest H1 is a bear candle, and the next one is bull your H1 line is now lower, meaning you can buy at a better price and your risk is lower provided the daily low is still the same. in your example you have a bear candle and the next hour a lower H1 bull candle (2 pips lower, not much but still lower). During the first hour there was a valid profitable entry, then...

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Quoting andy1946

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{quote} As a rule, I would move the BE +10 when the price reached 15 pips, but at that time the price moved about 13 pips and on the way back I quickly closed the order manually. At that time, I moved BE +5 but I was afraid of losing 7 pips so I quickly closed the order. If I were sober and followed the rules, this case would be Won +5 or +35.

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Quoting lbtrader

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{quote} trust the system and be consistent, do not let fear or greed take over (easier said than done )

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Quoting den83c

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{quote} Thank you again lbtrader! One more question.... do I not need to wait until the next 1 hour bar closes before I can use it's open as an entry trigger? Or can I enter on the new lower open as soon as the open is crossed? Hope this makes sense

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Quoting andy1946

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{quote} Psychology is a difficult problem to solve, so I need to practice more. Thanks for your advice and encouragement

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Quoting lbtrader

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{quote} The moment that bar opens on the H1 you have your entry price. you do not wait for it to close because you will go for a lower TF to wait for valid candles, that H1 candle is still going (you have 4 M15 candles, 12 M5 candles and 59 M1 candles before the new H1)

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Quoting andy1946

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I'm taking on the challenge Time: October 16 - October 22, 2022 Pair: GBPUSD Risk: 0.01 lot/trade - Trade: 23 / 10 orders BE = +2 pips - Total pips = +78 pips +18 -22 +00 +05 +20 +05 +01 +01 +05 +01 +15 +01 -06 +12 +00 +02 +07 -06 +01 +03 +01 +12 +02 {image}{image}

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Quoting TooSlow

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{image}

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Quoting andy1946

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I'm taking on the challenge Time: October 16 - October 22, 2022 Pair: GBPUSD Risk: 0.01 lot/trade - Trade: 24 / 10 orders Won = +10 pips - Total pips = +88 pips +18 -22 +00 +05 +20 +05 +01 +01 +05 +01 +15 +01 -06 +12 +00 +02 +07 -06 +01 +03 +01 +12 +02 +10 {image}

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Quoting lbtrader

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{quote} This is a fantastic example of both HOLO and 1-2-3 play whichever method you happened to be in, this paid really well {image}{image}

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Quoting TooSlow

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{quote} You may want to use the indicators and templates provided.

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