Highest Open / Lowest Open Trade

Quoting TooSlow

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{quote} There has been 1 H1 highest open and 3 H1 lowest opens today. How do you come to that conclusion? Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.

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Quoting Jannah02

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{quote} oh it must be the opposite, I thought if price hits the same area multiple times but doesn't go further below it means that price doesn't want to go any lower

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Quoting TooSlow

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Quoting Jannah02

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{quote} overtime I've realized that most of trades end up hitting 5 pips at least, so you could potentially take the 5 pips each trade and just be happy with that especially if people don't like BE+1 alot I took the trade for the current moment and got 5 pips (: I chose to close at 5

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Quoting TooSlow

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{quote} How much time? Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas. {image}

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Quoting TooSlow

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{quote} What would cause you to exit at H1 open since price is moving down? Did you consider a second entry at H1 at all? If price fails to drop below the H1 open before the close of the M30 candle, what happens next?

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Quoting TooSlow

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{image} There has been 1 H1 highest open and 3 H1 lowest opens today. What does that tell you about price? How can you use that information in your trading? Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.

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Quoting Malkolm

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{quote} I would have exited at the moment when the price reached H1, because the number of pips is sufficient (5+), and the lowest risk (considering that the price is most likely to fall to H1, and then...either yes or no). Would I have entered at H1? Yes, of course, a separate trade according to the rules What would happen if the M30 price closed NOT reaching H1? A new H1 high would be formed and that would be the entry as usual. At least this seems logical to me, but I'll be glad if you correct my logic/help me put things in place

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Quoting Malkolm

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{quote} The price is dropping. Watch out. It is better to either quickly move to +1 or +5 (short-term pips, do not wait for a full-fledged reversal)

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Quoting TooSlow

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{image} The H1 lowest open is 26.3 pips above the daily low. The M30 lowest open is 7.4 pips above the daily low. The M15 lowest open is 6.9 pips above the daily low. Did you enter? If yes, at what point? If not, why not? Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas. {image}

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Quoting TooSlow

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Quoting Snirodha

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{quote} Hi TooSlow, do you avoid any trades if the zone is bigger (HO and Day High ) ?

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