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Highest Open / Lowest Open Trade

  • #1,521
  • Jun 1, 2016 8:32am Jun 1, 2016 8:32am
Quoting hornet
{quote} Thanks. Say I come to the charts and start drawing my lines, and the white ones are my H1L and I keep moving them down. As you can see at the blue box this is pretty straightfroward since it makes a new lo (just) and my entries come at yellow triangles (2 entries), correct? Now though, as we move forward in time my H1L moves as well soon after the second triangle, following candle does not break the low but turns back up past the H1L, is this an entry at the green arrow? (and following ones as well) Thanks {image}
Show the five minute chart with your H1 lines drawn. The entry should be on the 5m
  • #1,522
  • Jun 1, 2016 8:33am Jun 1, 2016 8:33am
Quoting pip-boss
+20 EURAUD {image}
  • #1,523
  • Jun 1, 2016 8:34am Jun 1, 2016 8:34am
Quoting wannalearn12
{quote} Show the five minute chart with your H1 lines drawn. The entry should be on the 5m
Haven't got to that part yet.
I am taking it from page 1 onwards and need to understand it all first
The quality of your life is brought about by the quality of your thinking.
  • #1,524
  • Jun 1, 2016 8:35am Jun 1, 2016 8:35am
Quoting hornet
{quote} Haven't got to that part yet. I am taking it from page 1 onwards and need to understand it all first
So mark the current daily Low open with a red line or something. take off everything else.
  • #1,525
  • Jun 1, 2016 8:38am Jun 1, 2016 8:38am
Quoting hornet
{quote} Thanks. Say I come to the charts and start drawing my lines, and the white ones are my H1L and I keep moving them down. As you can see at the blue box this is pretty straightfroward since it makes a new lo (just) and my entries come at yellow triangles (2 entries), correct? Now though, as we move forward in time my H1L moves as well soon after the second triangle, following candle does not break the low but turns back up past the H1L, is this an entry at the green arrow? (and following ones as well) Thanks {image}
So I have the current H1 low open marked with the red line. The entry is when a green 5m candle opens in between the lowest low and lowest open and then crosses(this is the entry) the low open. At +5 set to BE+1 and then +10 set be+5
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 23 KB
  • #1,526
  • Jun 1, 2016 8:40am Jun 1, 2016 8:40am
Quoting wannalearn12
{quote} So mark the current daily Low open with a red line or something. take off everything else.
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-06-01_17-39-30.jpg Size: 124 KB
The quality of your life is brought about by the quality of your thinking.
  • #1,527
  • Jun 1, 2016 8:41am Jun 1, 2016 8:41am
Quoting hornet
{quote} {image}
Now switch to 5m and post
  • #1,528
  • Jun 1, 2016 8:42am Jun 1, 2016 8:42am
Quoting wannalearn12
{quote} Just a click for BE is so nice
Or you can automate it and let it jump to BE +xx after yy. Same for SL, TP or Trailing SL
  • #1,529
  • Jun 1, 2016 8:43am Jun 1, 2016 8:43am
Quoting Habo
{quote} Or you can automate it and let it jump to BE +xx after yy. Same for SL, TP or Trailing SL
How is it automated. Please tell.
  • #1,530
  • Jun 1, 2016 8:45am Jun 1, 2016 8:45am
Quoting wannalearn12
{quote} So I have the current H1 low open marked with the red line. The entry is when a green 5m candle opens in between the lowest low and lowest open and then crosses(this is the entry) the low open. At +5 set to BE+1 and then +10 set be+5 {image}
So then, is it an entry on the green arrow?
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-06-01_17-44-28.jpg Size: 141 KB
The quality of your life is brought about by the quality of your thinking.
  • #1,531
  • Jun 1, 2016 8:47am Jun 1, 2016 8:47am
Quoting hornet
{quote} So then, is it an entry on the green arrow? {image}
Right, or any of the ones that setup correctly. I wouldn't trade on that atm though.
  • #1,532
  • Jun 1, 2016 8:51am Jun 1, 2016 8:51am
Quoting wannalearn12
{quote} Right, or any of the ones that setup correctly. I wouldn't trade on that atm though.
Why not? The rules are in place, correct?
The quality of your life is brought about by the quality of your thinking.
  • #1,533
  • Jun 1, 2016 8:54am Jun 1, 2016 8:54am
Quoting hornet
{quote} Thanks. Say I come to the charts and start drawing my lines, and the white ones are my H1L and I keep moving them down. As you can see at the blue box this is pretty straightfroward since it makes a new lo (just) and my entries come at yellow triangles (2 entries), correct? Now though, as we move forward in time my H1L moves as well soon after the second triangle, following candle does not break the low but turns back up past the H1L, is this an entry at the green arrow? (and following ones as well) Thanks {image}
Yes, is the simple, short answer to your question.

However, there are nuances.
Best to read through the thread and follow the trades posted.
Should not take too long to read.
Mostly charts.

Heed the warnings posted until you have a good understanding and some profitable trades under your belt.

Please ask questions when you have them.

Thank you.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,534
  • Jun 1, 2016 8:54am Jun 1, 2016 8:54am
Quoting pip-boss
+20 EURAUD {image}
Well done
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,535
  • Jun 1, 2016 8:57am Jun 1, 2016 8:57am
Quoting hornet
{quote} So then, is it an entry on the green arrow? {image}
hornet, can you please widen your candles.
Hard to read your chart.
Thanks.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,536
  • Jun 1, 2016 8:58am Jun 1, 2016 8:58am
A Loss I had today :/ Entry was a bull candle, green arrow under, that triggered a buy stop on the red line. As soon as it hit the open it dumped 50 + pips.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 20 KB
  • #1,537
  • Jun 1, 2016 9:04am Jun 1, 2016 9:04am
Quoting wannalearn12
A Loss I had today :/ Entry was a bull candle, green arrow under, that triggered a buy stop on the red line. As soon as it hit the open it dumped 50 + pips. {image}
Stop in place?
gbpusd is dropping like a rock.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,538
  • Jun 1, 2016 9:05am Jun 1, 2016 9:05am
Quoting TooSlow
{quote} Stop in place? gbpusd is dropping like a rock.
It was in place at -100. Just below the lowest low.
  • #1,539
  • Jun 1, 2016 9:06am Jun 1, 2016 9:06am
Quoting TooSlow
{quote} Stop in place? gbpusd is dropping like a rock.
It stopped me out in about 1 minute.
  • #1,540
  • Jun 1, 2016 9:09am Jun 1, 2016 9:09am
Quoting wannalearn12
{quote} It stopped me out in about 1 minute.
That's a tough one when trying to catch the proverbial falling knife. It just hit S1 so may see a bounce.
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