Highest Open / Lowest Open Trade

REPEAT

Trailing stop hit

Yep.

same

loved that gbusd setup

Hi, could you tell me where exactly (bar) you opened the trade and the opening price, I dont see that on your charts.
What does the colored bar mean.
Thanks

Did you trade it?
Let's see your chart.

Leaving for now. Will check the charts later this afternoon.

Possibility.
Caution advised.

HIGHEST OPEN / LOWEST OPEN TRADE

Place a line at the highest H1 open and lowest H1 open for the current day.

Sell short at the highest H1 open after price goes up through it and comes back down.

Buy at the lowest H1 open after price goes down through it and comes back up.


Stop loss is the current daily high or current daily low.
Adjust your position size accordingly.

Take profit by moving stop.
When trade is +5 or more, move stop to BE+1.
When trade is +10 or more, move to to BE+5, or switch to trailing stop.
Optional exit is to exit part of trade position with a profit to bank it, move stop to BE+1 and watch the market.


WARNING

When price breaks through yesterday's high or low, that is a breakout!
Trade the reversal with caution.

To the NO voters in the poll. Please post the reason you believe this is not simple. Thank you.


"Perfection is not when you have nothing more to add, but when you have nothing more to take away." - Antoine De Saint Exupery

"It is not about adding on, but taking away. The less technique, the better you are." - Bruce Lee


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!

Bar[0]
Open at highest open price.

The colored bar is an inside bar.
Was wondering when someone would notice and ask.
Check the DIBS Free Lunch thread to learn how to trade inside bars.
The inside bar serves as a warning much like yesterday's high/low.
Trading against an inside bar breakout could be costly.
Good eye

Took a quick drive and totally missed the winners. Check it out.

Here we go.

Note bar[1] is an inside bar.
Only the most recent inside bar is displayed.
My preference is to not have a cluttered chart.

gu is setting up so is ea

Learn to love being stopped out at BE+1

usdcad

20+ pips usd cad