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Highest Open / Lowest Open Trade

  • #18,161
  • Nov 19, 2024 3:53pm Nov 19, 2024 3:53pm
Quoting TooSlow
{quote} 454 pages. Questions are OK. The charts I post have the rules on the charts. Cheers!
Just messing with ya bud
  • #18,162
  • Nov 19, 2024 4:42pm Nov 19, 2024 4:42pm
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New day. Price needs to range before trading HOLO and 1-2-3.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,163
  • Nov 19, 2024 6:20pm Nov 19, 2024 6:20pm
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As the day progresses, opportunities appear.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,164
  • Edited 8:47pm Nov 19, 2024 8:18pm | Edited 8:47pm
BREAK-EVEN

Applying the breakeven of BE+1 and BE-1 when price moves to 5 pips is a very good approach to trading.
If you place the breakeven, it helps you to kill emotion.
When price hit the breakeven, it helps you to have a second look at the trade setup if you did not enter correctly.
This type of breakeven gives you confidence to trade without fear. I have never seen it like this before now.
It has helped to trade

My trade position has hit breakeven +1 two times and I like it.
I am on the 3rd trade position now
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  • #18,165
  • Nov 19, 2024 8:45pm Nov 19, 2024 8:45pm
Quoting MachineLearn
WAITING {image} {image}
Potential short
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Entered short
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  • #18,166
  • Nov 19, 2024 11:40pm Nov 19, 2024 11:40pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,167
  • Nov 20, 2024 9:30am Nov 20, 2024 9:30am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,168
  • Nov 20, 2024 10:43am Nov 20, 2024 10:43am
In my opinion, using a tool that calculates the average daily range over an x period of time and then only trading pairs that are beyond that average will increase profitability. I think it's a lot better than waiting for arbitrary sessions and discretionary "ranging markets"
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These are zones calculated on the last 150 days. Once daily price has entered this zone, the HOLO becomes lethal.
  • #18,169
  • Nov 20, 2024 12:26pm Nov 20, 2024 12:26pm
Quoting MachineLearn
In my opinion, using a tool that calculates the average daily range over an x period of time and then only trading pairs that are beyond that average will increase profitability. I think it's a lot better than waiting for arbitrary sessions and discretionary "ranging markets" {image} These are zones calculated on the last 150 days. Once daily price has entered this zone, the HOLO becomes lethal.
Yes, Mate, the ATR and ATR% can identify areas where a reversal is more likely to occur. These appear on the left-hand side of my charts.

What formula are you using to calculate the zones?

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,170
  • Nov 20, 2024 12:46pm Nov 20, 2024 12:46pm
Quoting TooSlow
{quote} Yes, Mate, the ATR and ATR% can identify areas where a reversal is more likely to occur. These appear on the left-hand side of my charts. What formula are you using to calculate the zones? Cheers!
Daily Range Support & Resistance Levels [QuantVue]
By QuantVue

"The Daily Range Support & Resistance Levels is an advanced analytical tool designed to assess daily price movements and provide potential support and resistance levels."

This tool examines the average daily price fluctuations over the past 150 trading days, and creates support and resistance levels based on the opening price.

The indicator also considers a standard deviation multiplier.

This enables traders and investors to identify potential price zones.

The support and resistance levels are dynamically updated every day.

Users can also choose to view previous daily levels as well.

https://www.tradingview.com/script/g...vels-QuantVue/
  • #18,171
  • Edited 1:38pm Nov 20, 2024 1:23pm | Edited 1:38pm
Hello Mates,
Please, if the candle that starts the current day appears to be the Highest high or the Lowest low, can it be treated as the Highest high or the Lowest low of the day?
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  • #18,172
  • Nov 20, 2024 3:56pm Nov 20, 2024 3:56pm
Quoting Igumapips
Hello Mates, Please, if the candle that starts the current day appears to be the Highest high or the Lowest low, can it be treated as the Highest high or the Lowest low of the day? {image} {image}
Good question, this is what I would recommend. At the start of your day, using ADR or another means , find a way to calculate where price is most likely to be at its maximum range for the day then take trades around this area. This area is where your most likely to see a good HOLO setup. Don't worry too much about time, it's a bit arbitrary.
  • #18,173
  • Nov 20, 2024 6:49pm Nov 20, 2024 6:49pm
Dear TooSlow,

Please, I want you to help me out here because I am confused.
From the rules, wait for the first current candle to open and close (at the period separator), wait for the Highest High or Lowest Low to form, that is the second candle, then wait for the test of the third candle at the open of the second candle before you place the trade position.
My question is, if the first current candle opened and closed and it is the Highest High or Lowest Low, can one treat the candle as the Highest High or Lowest Low so that the second candle can be used as the open of the current candle?


I attached the two setup
I was almost tempted to trade USDJPY
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  • #18,174
  • Nov 20, 2024 9:09pm Nov 20, 2024 9:09pm
Quoting Igumapips
Dear TooSlow, Please, I want you to help me out here because I am confused. From the rules, wait for the first current candle to open and close (at the period separator), wait for the Highest High or Lowest Low to form, that is the second candle, then wait for the test of the third candle at the open of the second candle before you place the trade position. My question is, if the first current candle opened and closed and it is the Highest High or Lowest Low, can one treat the candle as the Highest High or Lowest Low so that the second candle can...
HOLO is not meant to be traded at the open of a new day. Follow the rules in Post #1.

Keep it simple, Mate.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,175
  • Edited 10:12pm Nov 20, 2024 9:56pm | Edited 10:12pm
BTC approaching extreme range for the day already

HOLOs waiting
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  • #18,176
  • Nov 20, 2024 11:20pm Nov 20, 2024 11:20pm
Quoting TooSlow
{quote} HOLO is not meant to be traded at the open of a new day. Follow the rules in Post #1. Keep it simple, Mate. Cheers!
Thanks
  • #18,177
  • Nov 21, 2024 5:57am Nov 21, 2024 5:57am
Quoting TooSlow
{quote} HOLO is not meant to be traded at the open of a new day. Follow the rules in Post #1. Keep it simple, Mate. Cheers!
?
but rule states this:

Place a line at the highest H1 open and lowest H1 open for the current day.

or am i missing something?
  • #18,178
  • Nov 21, 2024 6:45am Nov 21, 2024 6:45am
HOLO is starting to click now.

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  • #18,179
  • Nov 21, 2024 6:51am Nov 21, 2024 6:51am
AUSUSD is becoming opportune
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  • #18,180
  • Nov 21, 2024 7:02am Nov 21, 2024 7:02am
Quoting MachineLearn
AUSUSD is becoming opportune {image}
Wicked down below H1HO one candle before the new HO and we're in...
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