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Highest Open / Lowest Open Trade

  • #18,241
  • Nov 26, 2024 10:44am Nov 26, 2024 10:44am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,242
  • Nov 26, 2024 11:18am Nov 26, 2024 11:18am
Quoting TooSlow
{image}
Do you think you satisfied this rule on this trade?

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

Price continued to move down after the Candle that created LO printed... You then opened a trade once price came back above the open per the rules. But according to your rule did price ever truly go down through the LO and come back up? Or did it just open below then come back through?
  • #18,243
  • Nov 26, 2024 12:43pm Nov 26, 2024 12:43pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,244
  • Nov 26, 2024 12:44pm Nov 26, 2024 12:44pm
Quoting MachineLearn
{quote} Do you think you satisfied this rule on this trade? Buy at the lowest H1 open after price goes down through it and comes back up. Price continued to move down after the Candle that created LO printed... You then opened a trade once price came back above the open per the rules. But according to your rule did price ever truly go down through the LO and come back up? Or did it just open below then come back through?
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,245
  • Nov 26, 2024 12:48pm Nov 26, 2024 12:48pm
Quoting TooSlow
{quote} {image}
Got it thanks
  • #18,246
  • Nov 26, 2024 2:10pm Nov 26, 2024 2:10pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,247
  • Nov 26, 2024 2:26pm Nov 26, 2024 2:26pm
Quoting TooSlow
{image}
At risk of being overly subjective, note the pattern on this setup.. inverse HnS, Quasimodo… whatever you like to call it.
  • #18,248
  • Nov 26, 2024 3:06pm Nov 26, 2024 3:06pm
M5 closed below LO.
Tested Low

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  • #18,249
  • Nov 26, 2024 3:31pm Nov 26, 2024 3:31pm
Quoting MachineLearn
M5 closed below LO. Tested Low {image}
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  • #18,250
  • Nov 26, 2024 7:44pm Nov 26, 2024 7:44pm
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  • #18,251
  • Nov 27, 2024 4:01am Nov 27, 2024 4:01am
If you want to find the best setup wich is in rang for current day these currency meter strength will help you a lot. Lets see for today at the moment EUR/GBP is ranking so here you can look for trade setup look at the currency meter and EG chart!?
https://www.fxblue.com/market-data/currency-strength#
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  • #18,252
  • Nov 27, 2024 6:14am Nov 27, 2024 6:14am
@TooSlow Thanks for sharing this very interesting strategies with us.
I have a few questions where I would appreciate your inputs to:
1) as we only care about the highest hourly open and lowest hourly open I assume incorporating also what I read in this thread that you have a specific timewindow/session you trade this strategy in. Cause if we start with the first few hours of the day we collect many losses as the proper high and low of the current day or likely not print yet. You are only trading this strategy in US session is that correct?
2) in your ruleset you mention dont trade m5,m15,h1 breakout candles. Can you give us an example what defines these kind of breakout candles?
3) Do you trade both strategies so HOLO and 1-2-3? Cause 1-2-3 seems to enter only trades once a daily high / low is taken?
4) how we can identify which HOLOs to take cause blindly longing / shorting every cross of a new hourly Open can lead to many losses doesnt it? Cause if price goes in one direction it often does take the opens and then continues going in that direction. (Screenshot attached and example zone marked in red)
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  • #18,253
  • Nov 27, 2024 8:51am Nov 27, 2024 8:51am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,254
  • Nov 27, 2024 8:56am Nov 27, 2024 8:56am
Quoting baschi
@TooSlow Thanks for sharing this very interesting strategies with us. I have a few questions where I would appreciate your inputs to: 1) as we only care about the highest hourly open and lowest hourly open I assume incorporating also what I read in this thread that you have a specific timewindow/session you trade this strategy in. Cause if we start with the first few hours of the day we collect many losses as the proper high and low of the current day or likely not print yet. You are only trading this strategy in US session is that correct? 2) in...
Good day, Mate. My trading starts in the London/NY crossover session. A breakout candle is a candle that makes a new daily high or low. Sometimes a HOLO is a 1-2-3. Sometimes a 1-2-3 is a HOLO. So yes, I trade both. Any trade can lead to losses, Mate. The chart you posted shows breakout candles on the way up.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,255
  • Nov 27, 2024 9:39am Nov 27, 2024 9:39am
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  • #18,256
  • Nov 27, 2024 9:51am Nov 27, 2024 9:51am
Quoting baschi
@TooSlow Thanks for sharing this very interesting strategies with us. I have a few questions where I would appreciate your inputs to: 1) as we only care about the highest hourly open and lowest hourly open I assume incorporating also what I read in this thread that you have a specific timewindow/session you trade this strategy in. Cause if we start with the first few hours of the day we collect many losses as the proper high and low of the current day or likely not print yet. You are only trading this strategy in US session is that correct? 2) in...
I like to wait for a session sweep. Traders frequently tend to place stop/limit orders at the high and low points of major trading sessions such as Asian (Tokyo), European (London), and North American (New York), resulting in the establishment of liquidity pools at those particular levels. Gives a bit more context when entering trades then arbitrary times of the day like TooSlow recommends.
  • #18,257
  • Nov 27, 2024 9:52am Nov 27, 2024 9:52am
Quoting DwnUndrTrdr
{quote} At risk of being overly subjective, note the pattern on this setup.. inverse HnS, Quasimodo… whatever you like to call it.
DwnUndrTrdr, you are right most especially as price pullback to the open of the second candle after the Highest High and Lower low candle.
I see Quasimodo Reversal (QMR, SNRC1, SNRC2 etc).
  • #18,258
  • Nov 27, 2024 1:06pm Nov 27, 2024 1:06pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #18,259
  • Nov 27, 2024 9:43pm Nov 27, 2024 9:43pm
These are my setups based on this strategy
I Placed trade position in EURJPY and It is on BE+1 at the moment.
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  • #18,260
  • Nov 27, 2024 10:06pm Nov 27, 2024 10:06pm
Quoting Igumapips
These are my setups based on this strategy I Placed trade position in EURJPY and It is on BE+1 at the moment. {image} {image} {image}
What is the white line indicating?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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