Highest Open / Lowest Open Trade

Trade below on AUDUSD hit my initial SL so losing trade. I'm not sure if this is a breakout though. From an hourly perspective it is but on a 15min candle I don't think so. The 15m bear candle before I entered trade made the day high. The bull candle before that had the highest Hourly open.

Down load the template and indicators from Post #1

Download from the attachments

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Hallo,
bought yesterday GBPUSD
I did not move SL to BE
I was lacky in this trade
see my Chart
atb vvm

Bought GBPUSD
Entry was a bit later
s. chart

atb vvm

wait...

NU SOLLED
s. chart
as always my entry was a bit later

atb vvm

Hi TooSlow, unfortunately I can’t undestand the Rule#1
Please clear it for me s. chart
atb vvm

WARNING

When price breaks through yesterday's high or low or makes a new high or low today, that is a breakout!

Please refer to Post #1.

Many Thanks TooSlow,
I'm reading this Thread from the beginning,
now I'm on the p 71:
p1403 with a great Explanation for BO :
Rule #1.

Let me elaborate a bit.
The general idea is to enter the trade when price is reversing from the daily high or the daily low.
We all know price does not move in a straight line.
Price goes up and down and up and down etc.
Looking at H1 charts it is easy to see price, more often than not, ends the day below the highest H1 open and above the lowest H1 open.
We want to use that to our advantage.

Whenever price is between the daily high and highest H1 open, we can sell short.
Whenever price is between the daily low and lowest H1 open, we can buy long.
Sometimes this will produce winning trades.
Sometimes this will produce losing trades.
We want the winning trades.
We do not want the losing trades.
The rules attempt to eliminate the losing trades.
Sometimes winning trades get eliminated.

We know the best place enter the trades.
We do not know, in advance, the best time to enter the trades.
Trading with M5 may give 12 chances to enter.
Trading with M15 may give 4 chances to enter.
Trading with H1 gives 1 chance to enter.
Trading with the candle color rather than against it usually is prudent.

You may find another entry trigger that works for you.
Experiment.
The rules are guidelines.
Learn them first.
Follow them.
Master them.
Then bend them.
Then break them.
Do whatever enables you to bank pips.

The goal is to bank pips consistently.
Changing things is not consistent.
Find something that works for you and stick with it.
Do not deviate.

The 1-2-3 trade can be employed on the BO.

Who is taking the 10 trade challenge the week of AUGUST 18, 2024?

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

Hello friends.
Tell me, please, how do you act in such a situation?
The green candle made the lowest price of the day. Where should you take a position? Or should it not be opened because the candle is a bull?

Price below yesterday’s low. No trade for me using HO LO

buy was at 188.514, (sl is the low).

If price returns to that point, Bay Limit?