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Highest Open / Lowest Open Trade

  • #17,981
  • Aug 29, 2024 7:14pm Aug 29, 2024 7:14pm
Quoting StonebankS1
DO NOT enter at breakout bars. Look at what happened here. you had all the signals to go short, BUT price already made a breakout from yesterday's high. if you opened a position, you would be already stopped {image} {image}
Start looking for a TooSlow 1-2-3 in these conditions
  • #17,982
  • Aug 29, 2024 7:53pm Aug 29, 2024 7:53pm
Quoting DwnUndrTrdr
{quote} Start looking for a TooSlow 1-2-3 in these conditions
thanks mate, will do
  • #17,983
  • Aug 29, 2024 8:35pm Aug 29, 2024 8:35pm
WIN AUDUSD
LOSS AUDNZD

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  • #17,984
  • Aug 29, 2024 10:34pm Aug 29, 2024 10:34pm
Quoting shertiger
{quote} Thanks for the suggestion Michael. That parameter is already set to false. The number after H1 is referring to the correct candle, which is the higher open. I'm just asking the question that if the candles are M15 whether H1 is the correct terminology. My understanding is that D1 refers to day and H1 hour.
My apologies shertiger. I completely misread your request. Can't blame the drink or the Wife for that one

So on the M15 chart....the HIGHEST H1 OPEN for "Today" was 5 candles back. It would be the correct terminology because the H1 Highest and Lowest Opens are our benchmarks/entry points.
The M15 open prices are important(as you know) for validating the entry provided they open within your highlighted "Area of Interest" but the H1 opens are King.

D1(1) Yesterdays Open, High or Low.
D1(0) Todays CURRENT Open, High or Low
and 1.08689 H1(4) Higher Open 6.0 The price of the current H1 Highest Open (4 candles back from the new/current (0) 15 Min candle) and is 6 pips away from the current days High.

I hope I have that clearly written and I haven't stuffed it up again Mate.
Cheers
Michael

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  • #17,985
  • Aug 29, 2024 10:57pm Aug 29, 2024 10:57pm
Quoting MichaelG
{quote} My apologies shertiger. I completely misread your request. Can't blame the drink or the Wife for that one So on the M15 chart....the HIGHEST H1 OPEN for "Today" was 5 candles back. It would be the correct terminology because the H1 Highest and Lowest Opens are our benchmarks/entry points. The M15 open prices are important(as you know) for validating the entry provided they open within your highlighted "Area of Interest" but the H1 opens are King. D1(1) Yesterdays Open, High or Low. D1(0) Todays CURRENT Open, High or Low and 1.08689...
Hahah excellent Michael. That's super clear now.

BTW Thanks again for putting together the doc way back when. Really helped develop my understanding.
  • #17,986
  • Aug 29, 2024 11:04pm Aug 29, 2024 11:04pm
Quoting shertiger
WIN AUDUSD LOSS AUDNZD {image} {image}
Bad luck on that AUDNZD. I hope you stuck with it. A couple of candles later you would have filled your boots.

Candle A made the lowest H1 open....and candle B opened in the Area of Interest and is still going up.

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  • #17,987
  • Aug 29, 2024 11:19pm Aug 29, 2024 11:19pm
Quoting MichaelG
{quote} Bad luck on that AUDNZD. I hope you stuck with it. A couple of candles later you would have filled your boots. Candle A made the lowest H1 open....and candle B opened in the Area of Interest and is still going up. {image}
Lol just my luck had someone come round at that time. Luckily only paper trading at the moment but I try and treat it like the real deal.
  • #17,988
  • Aug 30, 2024 7:25am Aug 30, 2024 7:25am
Quoting DwnUndrTrdr
{quote} Start looking for a TooSlow 1-2-3 in these conditions
in case any lurker or new trader wants to know about the 1-2-3 rule, i found the post here and i'll leave the link

https://www.forexfactory.com/thread/...0#post12245470
  • #17,989
  • Sep 1, 2024 12:56am Sep 1, 2024 12:56am
Who is taking the 10 trade challenge the week of SEPTEMBER 1, 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
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #17,990
  • Sep 1, 2024 9:43pm Sep 1, 2024 9:43pm
Win to start the month off!

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  • #17,991
  • Sep 1, 2024 11:14pm Sep 1, 2024 11:14pm
And now a loss after it hit my SL.

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  • #17,992
  • Sep 2, 2024 6:11am Sep 2, 2024 6:11am
Quoting TooSlow
Who is taking the 10 trade challenge the week of SEPTEMBER 1, 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
First trade using this stategy. Thanks for sharing. I hope I've got this right.

AUDUSD
M15 chart
H1 HTF candles showing opens/closes
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  • #17,993
  • Sep 2, 2024 6:33am Sep 2, 2024 6:33am
Quoting Takeprofits
{quote} First trade using this stategy. Thanks for sharing. I hope I've got this right. AUDUSD M15 chart H1 HTF candles showing opens/closes {image}
Couldn’t see trade marked on chart so hard to give an opinion.
  • #17,994
  • Sep 2, 2024 6:39am Sep 2, 2024 6:39am
Quoting DwnUndrTrdr
{quote} Couldn’t see trade marked on chart so hard to give an opinion.
Sorry I forgot that many here don't use Tradingview. I like it for the risk reward tool which is to the right of the candlesticks.

Top of Red shaded area is stop loss - 0.67858
Bottom of green shaded are is target - 0.67568
Entry where red and green meet - 0.67825
  • #17,995
  • Sep 2, 2024 9:18am Sep 2, 2024 9:18am
Quoting Takeprofits
{quote} Sorry I forgot that many here don't use Tradingview. I like it for the risk reward tool which is to the right of the candlesticks. Top of Red shaded area is stop loss - 0.67858 Bottom of green shaded are is target - 0.67568 Entry where red and green meet - 0.67825
in your chart the highest h1 is in the past but your trdingtool is in the "future" (area with no candles yet)...
so you do not trade the method...
if after the current highest h1 open there will be a new higher h1 open, the open price for your trading tool will be incorrect/outdated..
Muni loves you all!
  • #17,996
  • Sep 5, 2024 10:29pm Sep 5, 2024 10:29pm
Not too many trades spotted by me this week. Got one below but hit my SL. Shame as it was going up and looked strong with respects to trend.

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  • #17,997
  • Sep 6, 2024 2:02am Sep 6, 2024 2:02am
Quoting shertiger
Not too many trades spotted by me this week. Got one below but hit my SL. Shame as it was going up and looked strong with respects to trend. {image}
your entry was not a holo trade...
your 4am h1 candle open was not a new lowest h1 open.. why did you put a buy at this random level??
Muni loves you all!
  • #17,998
  • Sep 6, 2024 5:35am Sep 6, 2024 5:35am
Quoting Takeprofits
{quote} First trade using this stategy. Thanks for sharing. I hope I've got this right. AUDUSD M15 chart H1 HTF candles showing opens/closes {image}
Looks right to me, but the stop loss was eventually hit?
  • #17,999
  • Sep 6, 2024 4:51pm Sep 6, 2024 4:51pm
Quoting MuniFX
{quote} your entry was not a holo trade... your 4am h1 candle open was not a new lowest h1 open.. why did you put a buy at this random level??
I’ve noticed that the box can move during the day. When I traded the candle was leaving the box.
  • #18,000
  • Sep 7, 2024 5:07am Sep 7, 2024 5:07am
Quoting shertiger
{quote} I’ve noticed that the box can move during the day. When I traded the candle was leaving the box.
I assume the box your are talking about was the 0 am open box..
You traded the retest of that box not a new high or low H1 open...
Your trade was in the 4.15am 15min candle but the 4am H1 candle didn't post a new lower open so there is no buy set up..

Were in the rules it is stated that you should trade a retest of the several hours earlier opens??

Kind regards
Muni loves you all!
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