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Trading is as simple as 1-2-3

  • #61
  • Jul 22, 2015 10:49am Jul 22, 2015 10:49am
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The 1-2-3 pattern repeats itself.

Hard not to sound like a broken record. ( I wonder how many more years before that expression disappears? )
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #62
  • Jul 22, 2015 10:58am Jul 22, 2015 10:58am
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Exercise caution when trading. Look for a "why" not to enter. In this case, higher low follows higher low. Trading short at this time may prove detrimental.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #63
  • Jul 22, 2015 11:07am Jul 22, 2015 11:07am
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Just as trading long here could work against you. There are 5 pips gains to be made if that is your "thing".
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #64
  • Jul 22, 2015 11:36am Jul 22, 2015 11:36am
I've got most of TRO's indi's but I don't remember seeing that one (showing the high and low of the current candle). I'll have to look again.
  • #65
  • Jul 22, 2015 12:07pm Jul 22, 2015 12:07pm
Quoting TooSlow
{image} Time to move stop?
Is this a re-entry? Again a rejection of the earlier established daily high?
  • #66
  • Jul 22, 2015 12:11pm Jul 22, 2015 12:11pm
Quoting Anusragger
{quote} Is this a re-entry? Again a rejection of the earlier established daily high?
It was an entry on current bar. The current bar failed to make a new daily high and retraced to current bar open and kept going down.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #67
  • Jul 22, 2015 3:37pm Jul 22, 2015 3:37pm
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There are times when waiting for the next bar leaves too many pips behind like when the bear turns into a bull. Brown line at open price of bar where bear bar turned into bull bar.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #68
  • Jul 22, 2015 4:04pm Jul 22, 2015 4:04pm
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Pure news trade. Blasted through the open.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #69
  • Jul 23, 2015 8:01am Jul 23, 2015 8:01am
I'm confused. So what are the steps to this system?
  • #70
  • Jul 23, 2015 8:12am Jul 23, 2015 8:12am
query............ dont we need 3 candle to see the entries?
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  • #71
  • Jul 23, 2015 8:12am Jul 23, 2015 8:12am
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GBPUSD low of day.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #72
  • Jul 23, 2015 8:15am Jul 23, 2015 8:15am
Quoting sharingan9
I'm confused. So what are the steps to this system?
This really isn't a system per se. From the first post:


A sell below the H1 open of the bar immediately following the bar making the highest high would have resulted in profit. In summary, a bar makes a high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar.

A buy above the H1 open of the bar immediately following the bar making the lowest low would have resulted in profit. In summary, a bar makes a low and closes. Next bar fails to make a lower low and reverses. Buy when price rises above the open price of the current bar.

Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY. You may find your results may differ. Please check with an accredited financial specialist before using real money. FOREX trading can be risky. YOU HAVE BEEN WARNED!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #73
  • Jul 23, 2015 8:24am Jul 23, 2015 8:24am
Quoting dagoods
query............ dont we need 3 candle to see the entries? {image}
One, two or three candles. When a new daily high or daily low is made, price will reverse or retrace. This almost always happens on the bar making the new daily high/daily low. Waiting for that bar to close usually prevents early entry and loss. The next bar shows whether or not price makes another new daily high or daily low. When it doesn't, it is time for entry.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #74
  • Jul 23, 2015 8:31am Jul 23, 2015 8:31am
Quoting TooSlow
{quote} One, two or three candles. When a new daily high or daily low is made, price will reverse or retrace. This almost always happens on the bar making the new daily high/daily low. Waiting for that bar to close usually prevents early entry and loss. The next bar shows whether or not price makes another new daily high or daily low. When it doesn't, it is time for entry.

i don't understand .......a new daily high or low on what timeframe? ...can you please show an example on a 1 hour chart with control y showing the daily delineations vertical lines.... you may have to mark the opens manually..... but at least people in the thread will be able to follow your logic....hopefully that may make it easier... thanks
  • #75
  • Jul 23, 2015 8:39am Jul 23, 2015 8:39am
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Brown line at current bar[0] open. Early entry or wait for next bar.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #76
  • Jul 23, 2015 8:45am Jul 23, 2015 8:45am
Quoting dagoods
{quote} i don't understand .......a new daily high or low on what timeframe? ...can you please show an example on a 1 hour chart with control y showing the daily delineations vertical lines.... you may have to mark the opens manually..... but at least people in the thread will be able to follow your logic....hopefully that may make it easier... thanks
a new daily high or low on what timeframe?

Daily high or daily low is independent of timeframe.

can you please show an example on a 1 hour chart with control y showing the daily delineations vertical lines....

I apologize but I do not understand your question. What is "control y"? Here is a chart showing the entire day so far.

Attached Image (click to enlarge)
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #77
  • Jul 23, 2015 8:49am Jul 23, 2015 8:49am
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a new daily high or low on what timeframe?

Daily high or daily low is independent of timeframe. The chart is M15 timeframe. Please notice the daily high and daily low lines are exactly the same as the H1 timeframe chart in the previous post. Hopefully, that clears up any misconceptions. I apologize if my answers have not been understandable. Thank you for your questions.



"Successful people ask better questions, and as a result, they get better answers." - Tony Robbins

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.

Please understand none of this is original or new and this is presented for EDUCATIONAL PURPOSES ONLY. You may find your results may differ. Please check with an accredited financial specialist before using real money. FOREX trading can be risky. YOU HAVE BEEN WARNED!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #78
  • Jul 23, 2015 8:55am Jul 23, 2015 8:55am
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A buy entry at the brown line, after price made a new daily low this bar[0], would be 10 pips in profit. Dagoods, does this help answer your previous question?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #79
  • Jul 23, 2015 9:03am Jul 23, 2015 9:03am
Attached Image


Classic 1-2-3 HL-LL-HL pattern.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #80
  • Jul 23, 2015 9:07am Jul 23, 2015 9:07am
Attached Image


Brown line at open of current bar[0]. Current price below the bar[0] open and above the daily low.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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