Highest Open / Lowest Open Trade | Page 102 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

As complicated as necessary: Highest Open / Lowest Open Trade 861 replies

Highest & Lowest Open/Close Price for a Loop 3 replies

I need to highest and lowest SMA 14 replies

how to get yesterday price highest and lowest 7 replies

highest to lowest volume pairs??? 3 replies

Attachments: Highest Open / Lowest Open Trade
Exit Attachments

Highest Open / Lowest Open Trade

  • #2,021
  • Jun 7, 2016 2:39pm Jun 7, 2016 2:39pm
Quoting wannalearn12
Is there a way to make sure the time frame for a new day is set correctly on the template you linked too slow?
Start of day depends on your broker.Day starts at 00:00 broker time.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,022
  • Jun 7, 2016 2:45pm Jun 7, 2016 2:45pm
Quoting hornet
{quote} On mine it starts automatically at 00.00 on my platform. I assume it is the same for all servers
Can you show a screen of it? So i know mine is accurate? Thanks
  • #2,023
  • Jun 7, 2016 2:56pm Jun 7, 2016 2:56pm
Quoting TooSlow
{quote} Start of day depends on your broker.Day starts at 00:00 broker time.
I've been googling around for Oandas day open but can't find it 0.0 anyone have a clue? I'm thinking it's 5-5 est?
  • #2,024
  • Jun 7, 2016 3:04pm Jun 7, 2016 3:04pm
Quoting wannalearn12
{quote} I've been googling around for Oandas day open but can't find it 0.0 anyone have a clue?
Switch on the time display in the sm indicator.
Switch your chart to D1 daily.
Then you can see the difference.

But a few hours difference won't make a difference.
The original HOLO used 34 H1 bars.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,025
  • Jun 7, 2016 3:06pm Jun 7, 2016 3:06pm
Quoting wannalearn12
{quote} I've been googling around for Oandas day open but can't find it 0.0 anyone have a clue? I'm thinking it's 5-5 est?
Don't major in minor stuff.
It is not essential.
Focus on major things.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,026
  • Jun 7, 2016 3:09pm Jun 7, 2016 3:09pm
Quoting TooSlow
{quote} Don't major in minor stuff. It is not essential. Focus on major things.
like this?
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDM5.png Size: 18 KB
  • #2,027
  • Jun 7, 2016 3:12pm Jun 7, 2016 3:12pm
Is this setup correct?

https://gyazo.com/e8ea3149a8ec543f83b44319728bea82
  • #2,028
  • Jun 7, 2016 3:28pm Jun 7, 2016 3:28pm
Quoting wannalearn12
{quote} like this? {image}
Yes.
But you already knew the answer!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,029
  • Jun 7, 2016 4:57pm Jun 7, 2016 4:57pm
News for JPY in two hours - there are three+ items might make a breakout or something? Who knows
  • #2,030
  • Jun 7, 2016 5:16pm Jun 7, 2016 5:16pm
For anyone who wants to be able to pull charts out of MT4 for easier viewing. I don't want to post necessary items, but I found this rather useful. Enjoy.
http://www.forexfactory.com/showthread.php?t=344224
  • #2,031
  • Jun 7, 2016 5:17pm Jun 7, 2016 5:17pm
Quoting wannalearn12
{quote} I've been googling around for Oandas day open but can't find it 0.0 anyone have a clue? I'm thinking it's 5-5 est?
That is correct. Oanda starts the new day at 5pm (17:00) EST (New York time zone). It used to be midnight but they changed it a few years ago. Also they had different open on demo and live accounts. Made it really confusing.

But I also agree with TooSlow. It does not really matter when you move the line. If you consistently move it at midnight that work too.

On one account I trade I forgot to move my horizontal open line (that was before we had all these fancy indicators) and I traded through two days for a while and I made also profit...LOL
  • #2,032
  • Jun 7, 2016 5:28pm Jun 7, 2016 5:28pm
Quoting Habo
{quote} That is correct. Oanda starts the new day at 5pm (17:00) EST (New York time zone). It used to be midnight but they changed it a few years ago. Also they had different open on demo and live accounts. Made it really confusing. But I also agree with TooSlow. It does not really matter when you move the line. If you consistently move it at midnight that work too. On one account I trade I forgot to move my horizontal open line (that was before we had all these fancy indicators) and I traded through two days for a while and I made also profit...LOL...
The only problem is not knowing when the new day starts or when to move my H1 open high and low lines. It gets confusing if you sit and think about it long enough. Do we just trade within the current 24 bars? Do you see my confusion? Maybe you or someone else might know.
  • #2,033
  • Jun 7, 2016 7:41pm Jun 7, 2016 7:41pm
Quoting wannalearn12
{quote} The only problem is not knowing when the new day starts or when to move my H1 open high and low lines. It gets confusing if you sit and think about it long enough. Do we just trade within the current 24 bars? Do you see my confusion? Maybe you or someone else might know.
Oh I know what you mean. As I understand the method we look at 24 hours that make one day. The logic constitutes that we go with the same open of the new day as most brokers, banks and MMs use, which is 5pm EST. But price goes through several markets during that time (Sidney, Tokyo, Frankfurt, London and New York. Price moves up and down during these markets so we use that to make some pips. If you start your line at midnight a day is still 24 hours and we go through the same sessions. We also have to figure in our downtime or sleep and/or work phase.

For the purpose of this thread I think it makes sense that we all use the same open, so we can read and compare our posted charts better. But if you would trade this method alone I don't think it would matter when you start your day. You would still see your daily high and low open and breakouts from the previous day.

This is how I see it. Somebody else might disagree.
  • #2,034
  • Jun 7, 2016 9:43pm Jun 7, 2016 9:43pm
A liitle nightcap. AUDUSD long. BE is already at +1pip, let's see where it will go.
Attached Image
  • #2,035
  • Jun 8, 2016 12:24am Jun 8, 2016 12:24am
Quoting wannalearn12
{quote} The only problem is not knowing when the new day starts or when to move my H1 open high and low lines. It gets confusing if you sit and think about it long enough. Do we just trade within the current 24 bars? Do you see my confusion? Maybe you or someone else might know.
Using the last 24 H1 bars would work fine.
Maybe even better.
Still doesn't matter.
What matters is trading near the extremes.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,036
  • Jun 8, 2016 2:26am Jun 8, 2016 2:26am
Quoting wannalearn12
{quote} The only problem is not knowing when the new day starts or when to move my H1 open high and low lines. It gets confusing if you sit and think about it long enough. Do we just trade within the current 24 bars? Do you see my confusion? Maybe you or someone else might know.
if you want to have set up same as TS and myself get a different broker. if you have a live account already, use a demo platform for charting and then trade on the live one
The quality of your life is brought about by the quality of your thinking.
  • #2,037
  • Jun 8, 2016 2:56am Jun 8, 2016 2:56am
Quoting wannalearn12
Is there a way to make sure the time frame for a new day is set correctly on the template you linked too slow?

Ive had same concern for a while now,,, trying to get my head around the best way to standardise my reference to Time. Yes, it also gets me confused if I think about it too much.
I rang our broker Axitrader. they say charts are in NY close Time which is GMT+3; Which is 5pm(NY) Which is 00:00hrs on chart.
Anyways, I'm going to run with TS's advise ,,, "It Doesn't Really Matter"
as we are not concerned in this case so much with market session time, but with Where a 24hr period starts/finishes.
  • #2,038
  • Jun 8, 2016 5:32am Jun 8, 2016 5:32am
This is a fantastic sytem, but I have to practice more.
Two loosing USDCAD trades in a row. What do I do wrong?
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad-m5-international-capital-markets-4.png Size: 42 KB
  • #2,039
  • Jun 8, 2016 5:53am Jun 8, 2016 5:53am
Quoting gabo05
this is a fantastic sytem, but i have to practice more. Two loosing usdcad trades in a row. What do i do wrong? {image}
did not trade this mornig but this is what i see on usdcad. It does happen though, no big deal taking a loss or two or three
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-06-08_12-45-17.jpg Size: 152 KB
The quality of your life is brought about by the quality of your thinking.
  • #2,040
  • Jun 8, 2016 5:56am Jun 8, 2016 5:56am
Quoting gabo05
This is a fantastic sytem, but I have to practice more. Two loosing USDCAD trades in a row. What do I do wrong? {image}
Rules
When price breaks through yesterday's high or low or makes a new high or low today, that is a breakout!
Trade the reversal with caution
12 traders viewing now