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Highest Open / Lowest Open Trade

  • #19,641
  • Feb 4, 2025 9:37pm Feb 4, 2025 9:37pm
Quoting TooSlow
{image}
hello sir, if price is outside of the range of previous day high and low
for this case on UJ now price is below previous day low
is it considered as a breakout ? or the H1 candle that break previous day low is considered as a breakout ?
  • #19,642
  • Feb 4, 2025 9:51pm Feb 4, 2025 9:51pm
Quoting reinaldopb
{quote} hello sir, if price is outside of the range of previous day high and low for this case on UJ now price is below previous day low is it considered as a breakout ? or the H1 candle that break previous day low is considered as a breakout ?
Yes, that is a breakout when price passes above the previous day high or passes below the previous day's low.

Yes, if the H1 candle breaks the previous day low, that is also a breakout.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,643
  • Feb 4, 2025 9:56pm Feb 4, 2025 9:56pm
Quoting TooSlow
{quote} Yes, that is a breakout when price passes above the previous day high or passes below the previous day's low. Yes, if the H1 candle breaks the previous day low, that is also a breakout.
thankyou for the reply

for the moment i will only trade if price inside yesterday high and low range
and will observe and when price is outside

im still learning about this strategy
and will do journaling too, hope this will help me in the future
  • #19,644
  • Feb 4, 2025 10:00pm Feb 4, 2025 10:00pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,645
  • Feb 4, 2025 10:16pm Feb 4, 2025 10:16pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,646
  • Feb 4, 2025 10:16pm Feb 4, 2025 10:16pm
+3
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  • #19,647
  • Feb 5, 2025 12:25am Feb 5, 2025 12:25am
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GBPUSD
got this set TP at BE+15 (because its around today highest open)
recover for my UJ lost

cheers
  • #19,648
  • Feb 5, 2025 1:30am Feb 5, 2025 1:30am
+5 +1
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  • #19,649
  • Edited 8:42am Feb 5, 2025 8:14am | Edited 8:42am
Mate, I opened a GU trade today but got a loss on the bar high (2)

Reason:

The red candle (2) closed below the green candle (1), which indicates a market reversal downwards

Stop loss was moved to the high (2) for better R:R.


Next, a loss and then an opportunity to enter, which I missed because of Rule #6. Bar (3) did not close, so there was no entry yet.

Can you please tell me if I should reconsider my exit strategy and move stop loss AFTER the highest candle is formed (in this case, M15) or if the current loss is part of the system and not my fault?

Cheers!
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  • #19,650
  • Feb 5, 2025 8:53am Feb 5, 2025 8:53am
Quoting Malkolm
Mate, I opened a GU trade today but got a loss on the bar high (2) Reason: The red candle (2) closed below the green candle (1), which indicates a market reversal downwards Stop loss was moved to the high (2) for better R:R. Next, a loss and then an opportunity to enter, which I missed because of Rule #6. Bar (3) did not close, so there was no entry yet. Can you please tell me if I should reconsider my exit strategy and move stop loss AFTER the highest candle is formed (in this case, M15) or if the current loss is part of the system and not my fault?...
Follow the rules.

YOU decided to move your stop.

Is R:R mentioned in HOLO?

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,651
  • Feb 5, 2025 9:01am Feb 5, 2025 9:01am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,652
  • Feb 5, 2025 9:09am Feb 5, 2025 9:09am
Quoting TooSlow
{quote} Follow the rules. YOU decided to move your stop. Is R:R mentioned in HOLO? {image}

No way, I'm just following your advice to shorten my stop loss (and common sense) to exit a trade as early as possible if it's not going in my direction
  • #19,653
  • Feb 5, 2025 9:15am Feb 5, 2025 9:15am
Quoting Malkolm
{quote} No way, I'm just following your advice to shorten my stop loss (and common sense) to exit a trade as early as possible if it's not going in my direction
Do you realize you were in a trade right before the news? Volatility is to be expected!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,654
  • Feb 5, 2025 9:16am Feb 5, 2025 9:16am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,655
  • Feb 5, 2025 9:43am Feb 5, 2025 9:43am
Quoting TooSlow
{quote} Do you realize you were in a trade right before the news? Volatility is to be expected!
Logical, Mate, but volatility could have gone further against me. Should I shorten my stop loss before the news, based on your experience?
  • #19,656
  • Feb 5, 2025 9:45am Feb 5, 2025 9:45am
Quoting reinaldopb
{image} GBPUSD got this set TP at BE+15 (because its around today highest open) recover for my UJ lost cheers
Hello!
What are the names of the indicators you use in your posted tradingview-chart?
Thanks in advance!
Muni loves you all!
  • #19,657
  • Feb 5, 2025 9:48am Feb 5, 2025 9:48am
Quoting Malkolm
{quote} Logical, Mate, but volatility could have gone further against me. Should I shorten my stop loss before the news, based on your experience?
It might be best for you to stand clear of trading around news events.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #19,658
  • Feb 5, 2025 9:49am Feb 5, 2025 9:49am
Quoting Malkolm
{quote} Logical, Mate, but volatility could have gone further against me. Should I shorten my stop loss before the news, based on your experience?
HoLo have stop loss.
Use money management.
  • #19,659
  • Feb 5, 2025 10:08am Feb 5, 2025 10:08am
Quoting MuniFX
{quote} Hello! What are the names of the indicators you use in your posted tradingview-chart? Thanks in advance!
i dont use indicator, i draw manually
i still try to edit the Holo indicator for mt4
because my broker server time is 1 hour late
  • #19,660
  • Feb 5, 2025 11:36am Feb 5, 2025 11:36am
Quoting reinaldopb
{quote} i dont use indicator, i draw manually i still try to edit the Holo indicator for mt4 because my broker server time is 1 hour late
broker server time is irrelevant.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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