Highest Open / Lowest Open Trade

Would you be ok to have a seperate thread for that?

Hi
+16 +22 be0

Thanks for the response.
Once the entry is made, I think it's time to focus on the exit, as important or more important than the entry.
What I don't understand is how a 1 pip fluctuation in a candle determines that the price can reverse, since this fluctuation is minimal and sometimes barely exceeds the spread. Unless, for example, once the price leaves, it does not allow a subsequent candle to close again in the area of interest, or there is a lower close than the candle that gives entry, or even with the above, it does not wait for the close of another candle. to exit the operation in negative.

I have a question which I'm not sure if it was asked before so please bear with me.




Looking at M15 chart, candle mark number 1 is the candle that has the highest H1 Open for today.
Now we look at M1 chart to see the sequence of events at that candle.




I highlighted the 15 candles that make the M15 candle on the first image.

Can see that candle 1 on M1 chart there is an upper wick. Which means there was a very short time where the price was within the area of interest.
Then it goes down pass the entry point.

Main question: Assuming I was in front of my screen at candle 1, should I take this trade when the candle itself is the one that "creates" the highest H1 open at that point of the day and the same candle move down past our marked entry point? Rule says not to wait for any candle closure. I just want to make sure.

Follow up question 1: Candle 2 is definitely a valid entry yes?

Follow up question 2: Candle 2's trade entry has yet to close, do you guys take entry for those other candles 3 to 8? even in M15 chart, there's multiple valid candles. Do you trade them all or just 1 open trade per pair? This is more of a trading style preference that I'm curious about. not really important.

Thank you.

regards,
Zen

Do those entries break any rules?

Mate, I am not a FF Admin. You can start whatever thread you want. You don't need my approval.

There's already a HOLO EA thread...

https://www.forexfactory.com/thread/...st-open-lowest

Good luck.

Cheers.

EU sell + 40

Someone asked about only making 1 or 2 pips recently on HOLO trades.

UJ sell +5

“Now, 2 patterns of market behavior happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)
They happen regardless of time frame.
They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.” - H. Rearden

Follow the rules.

You have been warned...

Follow the rules...

What rule is the hardest for you to follow?


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.