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Highest Open / Lowest Open Trade

  • #17,921
  • Aug 19, 2024 10:24am Aug 19, 2024 10:24am
Quoting Magiruss
{quote} If price returns to that point, Bay Limit?
no you missed it
Muni loves you all!
  • #17,922
  • Aug 19, 2024 10:25am Aug 19, 2024 10:25am
Quoting Magiruss
{quote} If price returns to that point, Bay Limit?

Buy at the lowest H1 open after price goes down through it and comes back up.

re read post #1
Muni loves you all!
  • #17,923
  • Aug 19, 2024 10:34am Aug 19, 2024 10:34am
Quoting MuniFX
{quote} no you missed it

if it makes a new lowest h1 open, you can try again
Muni loves you all!
  • #17,924
  • Aug 19, 2024 8:18pm Aug 19, 2024 8:18pm
17 pips xauaud. Should have moved to breakeven with trailing sl. Next time!

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  • #17,925
  • Aug 19, 2024 10:29pm Aug 19, 2024 10:29pm
Better job with eurjpy. Took half profit and then price came back to hit sl at breakeven.

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  • #17,926
  • Aug 19, 2024 10:45pm Aug 19, 2024 10:45pm
Unfortunately this trade was a loss. I entered on the green line as price was initially going down. Would appreciate any advice you have if i have done something incorrect. On review maybe my stop loss should have been a little bit further from the previous high.

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  • #17,927
  • Aug 19, 2024 11:35pm Aug 19, 2024 11:35pm
This trade was better. Took half profits and then set stop loss to break even. Price came back to hit stop loss.

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  • #17,928
  • Aug 20, 2024 7:46am Aug 20, 2024 7:46am
Quoting shertiger
Unfortunately this trade was a loss. I entered on the green line as price was initially going down. Would appreciate any advice you have if i have done something incorrect. On review maybe my stop loss should have been a little bit further from the previous high. {image}
What does this have to do with HOLO?

Please refrain from posting non HOLO charts.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #17,929
  • Aug 20, 2024 7:08pm Aug 20, 2024 7:08pm
Quoting TooSlow
{quote} What does this have to do with HOLO?
Hi TooSlow

Firstly apologies if I have incorrectly posted a non HOLO chart. I thought it was. It may not be obvious from the chart posting and I probably should have added more commentary.

What happened was that the 15m candle that opened on the lime vertical line recorded a new open high 06:00. That's why the black horizontal line (opening high) is placed there. Initially price moved up but then came back down past the open high. That's when I placed my sell order. Unfortunately, price then reversed and came back up. This resulted in the 15m candle eventually becoming a bull candle and the next bull candle taking out my SL.

Does the above sound like the correct process I should be following or have I erred somewhere?

Thanks
  • #17,930
  • Aug 20, 2024 10:05pm Aug 20, 2024 10:05pm
Hello, I am new to this thread, I would like to know if someone can tell me to carry out a good analysis based on the rules on page 1
I based the entry on the M5 chart when I saw an opening within the area of interest and placed a stop order at the lowest opening of H1 shown with the first red line, greetings and thanks
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  • #17,931
  • Aug 20, 2024 10:52pm Aug 20, 2024 10:52pm
Quoting shertiger
{quote}Does the above sound like the correct process I should be following or have I erred somewhere? Thanks
you have to re read post #1
and click on link with the "visual explanation"
there you will see (and hopefully understand) why you didn't trade holo correct..
Muni loves you all!
  • #17,932
  • Aug 20, 2024 10:55pm Aug 20, 2024 10:55pm
Quoting ange1agui
Hello, I am new to this thread, I would like to know if someone can tell me to carry out a good analysis based on the rules on page 1 I based the entry on the M5 chart when I saw an opening within the area of interest and placed a stop order at the lowest opening of H1 shown with the first red line, greetings and thanks {image} {image} {image}
the lowest h1 open was one candle before your marked candle, the sl is the low of the wick of the candle with the lowest opening..
Muni loves you all!
  • #17,933
  • Aug 20, 2024 11:01pm Aug 20, 2024 11:01pm
Quoting MuniFX
{quote} la apertura h1 más baja fue una vela antes de la vela marcada, el sl es el mínimo de la mecha de la vela con la apertura más baja..
You're right, I didn't look closely at the lowest opening candle, I'll re-read everything, thank you
  • #17,934
  • Aug 20, 2024 11:09pm Aug 20, 2024 11:09pm
Could this be correct?
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  • #17,935
  • Aug 20, 2024 11:49pm Aug 20, 2024 11:49pm
Quoting MuniFX
{quote} you have to re read post #1 and click on link with the "visual explanation" there you will see (and hopefully understand) why you didn't trade holo correct..
Thanks for the response MuniFX. I've read the guidance and posts several times but reading it once more has helped lol.

I should have waited for a candle to open in the area of interest. Does that mean we cannot enter on the first hourly candle as it initially forms? The earliest we can enter is when the first 5 minutes candle has formed and entry conditions have been met?
  • #17,936
  • Aug 21, 2024 12:06am Aug 21, 2024 12:06am
Quoting ange1agui
Could this be correct? {image} {image}
No, the highest H1 open is the start of the big bear candle after your marked candle..
Muni loves you all!
  • #17,937
  • Aug 21, 2024 12:14am Aug 21, 2024 12:14am
Quoting shertiger
{quote} Does that mean we cannot enter on the first hourly candle as it initially forms? The earliest we can enter is when the first 5 minutes candle has formed and entry conditions have been met?
If you enter on the initial forming of the open..you don't have the criteria: "...after it continues up/down and come back to the open..." ... The then formed wick is your stop loss... Without forming a wick first where would you put your stop?

The initial forming of a open.. can just be the start of a continued move.. a new bull candle after the highest open or a bear candle after the lowest open..
So we wait for a retest of the open and then a break...with a sl at the failed attempted to go higher or lower..
Muni loves you all!
  • #17,938
  • Aug 21, 2024 1:14am Aug 21, 2024 1:14am
Quoting MuniFX
{quote} If you enter on the initial forming of the open..you don't have the criteria: "...after it continues up/down and come back to the open..." ... The then formed wick is your stop loss... Without forming a wick first where would you put your stop? The initial forming of a open.. can just be the start of a continued move.. a new bull candle after the highest open or a bear candle after the lowest open.. So we wait for a retest of the open and then a break...with a sl at the failed attempted to go higher or lower..
Thanks for the clear explanation that really helps my understanding.
  • #17,939
  • Aug 23, 2024 8:23am Aug 23, 2024 8:23am
sup pal. im a spanish native so it took me like 3 or 4 days to understand your method

wow. it changes everything i know about trading. no indicators, no analysis.
i love how simple the method is. gotta thank @MichaelG for the great visual explanation, thanks to him i was able to understand the pdf file you attached in the first post. now look at this

i decided to exit at 0.91367 since i'm trying this method on a demo account. will keep trading it for a few weeks until i completely dominate it.
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  • #17,940
  • Aug 24, 2024 6:50am Aug 24, 2024 6:50am
Hello. I might be stupid, but I simply do not understand this method... And I want to trade it!

Can anyone explain it to me, like they would explain it to a 3-year old child?
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