Highest Open / Lowest Open Trade

Quoting FX.Knight

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{quote} Hey JayOBD, here's where I would draw my lines for EUR/USD. {image} {image}

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Quoting Malkolm

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{quote} Entry 7: +10.44$ Total: -67.66$ {image} {image}

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Quoting TooSlow

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{quote} “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 Price Action #advancedalientrading 1) Price will either breakout of the high, low or both of the previous bar 2) Price will not breakout of the previous bar. 3) Price will either close above a level (line) or not....

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Quoting Malkolm

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{quote} If I leave this situation, the trade will repeat the same mistakes, so I was wondering what you would do in my shoes? To make you understand how I see the chart, I will send a screenshot and explanation of how I read the market now with hindsight The green bar at point (1) closed and formed the high of the day. This is the highest high of the day Then, the green bar at point (2) formed a new high of the day and became the highest high of the day The extreme point (3) between (1) and (2) became the low high of the day. The red candle (4)...

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Quoting JayOBD

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Please let me describe the rules in my own understanding to see if I understand them correctly. The most basic steps. Draw a line at the highest opening price of H1 and a line at the lowest opening price of H1. 1. Check the latest H1 candlestick chart to see if it is a new high or low. If so, jump to 2 If not, switch to the next currency. Or wait. 2. Open the M15 candlestick chart, and if the opening price of the chart is higher than the highest opening price or lower than the lowest opening price, jump to 3...

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Quoting tantra

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{quote} From my experience I know, I don't trade days outside yesterday's range anymore.

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Quoting Crows

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I've completed 23 trades on one currency and taken all the trades that met the conditions at the time i spent at the charts. 13 winners & 10 losers, yet down 7 pips in total. My losers are bigger than my wins, I need to be a little more selective in the trades I take, however not sure how to do this. Anyone have any ideas that I can try? Thanks

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Quoting TooSlow

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{quote} Reduce your loss size.

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Quoting Crows

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Thanks so you saying either dont take trades where the high for the day is a fair distance from the H1 open, or take the trade but move stop closer to the H1 open? {quote}

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Quoting TooSlow

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{quote} What is your reason?

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Quoting tantra

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{quote} I seem to have more losing trades when I trade outside! And I've lost my mind and reset my account {image} {image} {image} {image}

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Quoting TooSlow

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{quote} What does HH LH have to do with HOLO?

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Quoting Malkolm

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{quote} Entry 8: +5.48$ Total: -62.18$ {image} {image}

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