15 minute opening range Forex

Quoting Sovy

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{quote} 1st 15 mins is the range. The 2nD 15 mins takes the high and or low. Where the close is lay the bias. And the entry is opposite the direction of the bias the 1/3rd of the candle.

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Quoting Shakka

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{quote} Yeah, I knew that already. Just want to tell you that if you want to post a trade, please based on a fact. Dont confuse us. We are learning here.

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Quoting Shakka

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{quote} You were doing a fake trading. The 2nd 15min bar was closed inside the range. The 3rd bar 15min bar piercing down and close below the range. No any single trade was taken coz didnt met the trading rule anymore. So, your trading result is invalid for that day.

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Quoting lddd

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GBP/USD 06/07/23 @Sovy, let me know if my example is correct. For the sake of simplicity I only drew the 50% Fib connecting it from the low to the high of the range. 1) Range (07:00 - 07:15) 2) Price pierced the high of the range and closed above (07:15 - 07:30) 3) Price moved down inside the range without reaching it to the 50% Fib sell entry trigger (07:30-07:45) 4) Price moved a bit further down and reached the 50% Fib sell entry trigger (07:45-08:00) + stopped out. So in this case looks like a losing trade example to me. {image}

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Quoting lddd

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GBP/USD 06/07/23 @Sovy, let me know if my example is correct. For the sake of simplicity I only drew the 50% Fib connecting it from the low to the high of the range. 1) Range (07:00 - 07:15) 2) Price pierced the high of the range and closed above (07:15 - 07:30) 3) Price moved down inside the range without reaching it to the 50% Fib sell entry trigger (07:30-07:45) 4) Price moved a bit further down and reached the 50% Fib sell entry trigger (07:45-08:00) + stopped out. So in this case looks like a losing trade example to me. {image}

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Quoting Sovy

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{quote} Ok found the context of this one. This is tokyo trade. Haha not newyork https://www.tradingview.com/x/P2OF49Bk not a fake one bro. Now the rule is simply 15 min range 2nd bar must break high and or low and close says the bias, then we take the reversal based on the 1/3rd of the range candle. Also im loggin into my pepperstone account to see if the data is different from trading view paper trade. {image} {image}

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Quoting Sovy

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{quote} Strictly the 3rd candle didnt trigger a trade. You would have cancelled.

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Quoting lddd

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GBP/USD 06/07/23 @Sovy, let me know if my example is correct. For the sake of simplicity I only drew the 50% Fib connecting it from the low to the high of the range. 1) Range (07:00 - 07:15) 2) Price pierced the high of the range and closed above (07:15 - 07:30) 3) Price moved down inside the range without reaching it to the 50% Fib sell entry trigger (07:30-07:45) 4) Price moved a bit further down and reached the 50% Fib sell entry trigger (07:45-08:00) + stopped out. So in this case looks like a losing trade example to me. {image}

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Quoting Shakka

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{quote} Yes indeed it was tokyo open. And you were absolutely trade in a wrong time. Believe me, dude. Tell me the open price of tokyo open on that day, the high and low (range) price of the 1st 15 min candle, the close price of the 2nd 15 min candle? To make it easier, use m15 timeframe. I will show mine after yours.

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Quoting lddd

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GBP/USD 06/07/23 @Sovy, let me know if my example is correct. For the sake of simplicity I only drew the 50% Fib connecting it from the low to the high of the range. 1) Range (07:00 - 07:15) 2) Price pierced the high of the range and closed above (07:15 - 07:30) 3) Price moved down inside the range without reaching it to the 50% Fib sell entry trigger (07:30-07:45) 4) Price moved a bit further down and reached the 50% Fib sell entry trigger (07:45-08:00) + stopped out. So in this case looks like a losing trade example to me. {image}

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Quoting Sovy

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{quote} Trigger is in 1 min though. It's clearer. Ya it was a nice 5r trade for me https://www.tradingview.com/x/xeqhe0wk {image}

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Quoting Shakka

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{quote} You have mistaken. 2nd 15min candle closed inside the range. Condition was not met, no trade then. Why did you still take a trade? Even if the 3rd 15min candle piercing down and closed below the range, then you should took a buy trade instead of sell. {image}

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Quoting Sovy

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{quote} Your ny open however is a good example of a correct one

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Quoting lddd

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{quote} Yes. But do you strictly wait until the M15 candle that breaks the range is CLOSED before you enter? Based on yesterday's New York Open, I would have already placed my sell order with the candle breaking the range. So I draw the Fib as soon as the range is formed and the first moment the price goes back to the 50% level (2 in my example), I get in. I would not have waited for the candle to close. {image}

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Quoting Sovy

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{quote} yes, I wait for the 3rd candle. Cause I've been stoped a lot of times having to re enter if i use the 2nd candle as entry. So from a safety standpoint. 3rd cantle entry. Also if i enter at.the second i normally have to move the stop loss hence increasing my risk before i end up with a break even plus one or trailing at.the low of the candles.

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Quoting lddd

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EUR/USD - 07/07/2023 {image} Looks like a losing example if I got the rules right

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