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Highest Open / Lowest Open Trade

  • #2,081
  • Jun 8, 2016 1:15pm Jun 8, 2016 1:15pm
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  • #2,082
  • Jun 8, 2016 4:15pm Jun 8, 2016 4:15pm
You can break the rules when you have a feel for certain dynamics, when you have experience and confidence in your capabilities.
Until that day, just follow the rules and learn, learn and learn.....
The quality of your life is brought about by the quality of your thinking.
  • #2,083
  • Jun 8, 2016 4:46pm Jun 8, 2016 4:46pm
Hi Too Slow:

I apologize if this one has been clarified before, but can you share some experience applying this technique in breakout situation. got steamrolled today playing with usd/chf downward breakout. Think i still have a lot to learn in order execution. Specifically, my questions are:

1. i can not just look at H1 bar to gain correct entry. low TF bars have to be used to understand better the bar formation, especially in a breakout, correct?

2. H1 bar opens at the daily low, the price goes down, then comes back and cross above the open price. in a downward breakout, this is NOT a buying opportunity, EVEN IF the current bar doesn't break a new daily low, correct?

thanks so much for the enlightenment....
  • #2,084
  • Jun 8, 2016 4:57pm Jun 8, 2016 4:57pm
Quoting baldmonk
Hi Too Slow: I apologize if this one has been clarified before, but can you share some experience applying this technique in breakout situation. got steamrolled today playing with usd/chf downward breakout. Think i still have a lot to learn in order execution. Specifically, my questions are: 1. i can not just look at H1 bar to gain correct entry. low TF bars have to be used to understand better the bar formation, especially in a breakout, correct? 2. H1 bar opens at the daily low, the price goes down, then comes back and cross above the open price....

WARNING

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.

You are probably looking for a more exact, precise, detailed answer.
The market is "messy".
Just when you think you have it all figured out, Wham, you get schooled.

For every rule, there is an exception.
For every exception, there is another exception.

When you get behind the wheel of a car the first few times, it can be overwhelming.
So much to focus on.
Now, you probably get to where you are going and don't remember half the drive.
Do that when you trade.
Do not think, trade.
When you make a wrong turn, you find your way back.
Do that when you trade.

Just because a pair make a new daily high or low, it does not mean you have to trade that pair.
Sitting out the dance for a song or two will not hurt you.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,085
  • Jun 8, 2016 4:59pm Jun 8, 2016 4:59pm
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How long before the gap starts to fill?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,086
  • Jun 8, 2016 5:54pm Jun 8, 2016 5:54pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,087
  • Jun 8, 2016 6:03pm Jun 8, 2016 6:03pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,088
  • Jun 8, 2016 6:35pm Jun 8, 2016 6:35pm
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Attached Image
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,089
  • Jun 8, 2016 11:44pm Jun 8, 2016 11:44pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,090
  • Jun 8, 2016 11:45pm Jun 8, 2016 11:45pm
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Still
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,091
  • Jun 8, 2016 11:49pm Jun 8, 2016 11:49pm
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When playing chess, look at the entire board.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,092
  • Jun 9, 2016 4:14am Jun 9, 2016 4:14am
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  • #2,093
  • Jun 9, 2016 4:27am Jun 9, 2016 4:27am
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  • #2,094
  • Jun 9, 2016 5:30am Jun 9, 2016 5:30am
@TooSlow

I'm working to the different Daily-StartTime but it is not finished yet.

For my eyes I programmed arrows for Daily Open, Daily High / Low, and for Signals. Perhaps that helps also others.
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Attached File(s)
File Type: ex4 smHiLoOpen Lines_v2.2.ex4   28 KB | 970 downloads
  • #2,095
  • Jun 9, 2016 5:42am Jun 9, 2016 5:42am
Quoting SwingMan
@TooSlow I'm working to the different Daily-StartTime but it is not finished yet. For my eyes I programmed arrows for Daily Open, Daily High / Low, and for Signals. Perhaps that helps also others. {image} {file}
Hello Swingman, thank you for great program! Helps out a lot.
  • #2,096
  • Jun 9, 2016 7:52am Jun 9, 2016 7:52am
Quoting SwingMan
@TooSlow I'm working to the different Daily-StartTime but it is not finished yet. For my eyes I programmed arrows for Daily Open, Daily High / Low, and for Signals. Perhaps that helps also others. {image} {file}
Thank you for assisting.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,097
  • Jun 9, 2016 8:02am Jun 9, 2016 8:02am
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Rule #1
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,098
  • Jun 9, 2016 8:08am Jun 9, 2016 8:08am
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Rule #1
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,099
  • Jun 9, 2016 8:16am Jun 9, 2016 8:16am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,100
  • Jun 9, 2016 8:22am Jun 9, 2016 8:22am
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How many red H1 bars in a row?

7
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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