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Highest Open / Lowest Open Trade

  • #2,421
  • Jun 21, 2016 11:10am Jun 21, 2016 11:10am
Quoting wannalearn12
{quote} I just want a lot of momentum behind the trade.
Attached Image (click to enlarge)
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The multimeter candle color shows the colors of the candles on all time frames.
When the all match, you have momentum.
Better to think in sets:
M1/M5/M15;
M30/H1/H4;
D1/W1/MN.

Yes, you can choose whatever combination you want - M5/H1/D1 is a preference.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,422
  • Jun 21, 2016 11:14am Jun 21, 2016 11:14am
Quoting TooSlow
{quote} {image} Yes. During the day there are only two possibilities: 1) open, price makes high, price makes low, close; 2) open, price makes low, price makes high, close; During the Asian session, trade price moving away from the open. During the London and NY sessions, trade price moving away from the current daily high/daily low or away from the open. The brown line is the daily open. The green line is low of day to high of day. The orange line is high of day to current price. At lot happens between daily open and current price. Shaded boxes...
Thank you again Too Slow.

In this sentence:

During the London and NY sessions, trade price moving away from the current daily high/daily low or away from the open.

Do you mean:
During the London and NY sessions, trade price moving away from the current daily high/daily low and towards the daily open?
  • #2,423
  • Jun 21, 2016 11:36am Jun 21, 2016 11:36am
Quoting courier12
{quote} Thank you again Too Slow. In this sentence: During the London and NY sessions, trade price moving away from the current daily high/daily low or away from the open. Do you mean: During the London and NY sessions, trade price moving away from the current daily high/daily low and towards the daily open?
No.
The sentence as written expresses exactly what I wanted to say.
Either trade away from the extremes or trade away from the open.
Pick one.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,424
  • Jun 21, 2016 1:06pm Jun 21, 2016 1:06pm
Quoting TooSlow
{quote} No. The sentence as written expresses exactly what I wanted to say. Either trade away from the extremes or trade away from the open. Pick one.
Ok, thank you Too Slow.

I understand Trading away from the daily high/low (which is the same as trading towards the daily open)

When you say trading away from the daily open, are you refering to the 2nd entry which you had mentioned a few days back in this thread? And this 2nd entry does not come around that often?
  • #2,425
  • Jun 21, 2016 1:09pm Jun 21, 2016 1:09pm
Quoting courier12
{quote} Ok, thank you Too Slow. I understand Trading away from the daily high/low (which is the same as trading towards the daily open) When you say trading away from the daily open, are you refering to the 2nd entry which you had mentioned a few days back in this thread? And this 2nd entry does not come around that often?
Would you please quote that post?
Can't determine to what you are referring.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,426
  • Jun 21, 2016 1:10pm Jun 21, 2016 1:10pm
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As price crosses the daily open, trade away from the open.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,427
  • Jun 21, 2016 2:34pm Jun 21, 2016 2:34pm
Quoting TooSlow
{quote} {image} The multimeter candle color shows the colors of the candles on all time frames. When the all match, you have momentum. Better to think in sets: M1/M5/M15; M30/H1/H4; D1/W1/MN. Yes, you can choose whatever combination you want - M5/H1/D1 is a preference.
I see do you utilize this?
  • #2,428
  • Jun 21, 2016 2:36pm Jun 21, 2016 2:36pm
Quoting TooSlow
{image} As price crosses the daily open, trade away from the open.
yes. That is beautiful.
  • #2,429
  • Jun 21, 2016 3:29pm Jun 21, 2016 3:29pm
Quoting wannalearn12
{quote} I see do you utilize this?
No.
Not for this.
The questions to answer are:
Where is price relative to today's high/low?
Where is price relative to yesterday's high/low?
Is price near today's open?

The lines are on the chart.
The multimeter would be redundant.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,430
  • Jun 21, 2016 3:29pm Jun 21, 2016 3:29pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,431
  • Jun 21, 2016 3:30pm Jun 21, 2016 3:30pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,432
  • Jun 21, 2016 3:35pm Jun 21, 2016 3:35pm
Sounds a lot like trading: http://www.success.com/article/7-wea...essful-people?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,433
  • Jun 21, 2016 10:38pm Jun 21, 2016 10:38pm
Quoting TooSlow
{quote} Would you please quote that post? Can't determine to what you are referring.
Hi Too Slow,

I was refering to this post:

http://www.forexfactory.com/showthre...69#post8975669

In context of what you said earlier today:

"During the Asian session, trade price moving away from the open.
During the London and NY sessions, trade price moving away from the current daily high/daily low or trade price moving away from the open."

I understand:
"During the Asian session, trade price moving away from the open"

I also understand:
During the Asian session, trade price moving away from the open.
During the London and NY sessions, trade price moving away from the current daily high/daily low (i.e. back towards the daily open)

However, I don't understand:
" or trade price moving away from the open." I think you mean away from daily open in the London/US sessions? Can you please shed light on this?
Thank you
  • #2,434
  • Jun 22, 2016 12:24am Jun 22, 2016 12:24am
Quoting TooSlow
{quote} No. Not for this. The questions to answer are: Where is price relative to today's high/low? Where is price relative to yesterday's high/low? Is price near today's open? The lines are on the chart. The multimeter would be redundant.
Hi Too Slow,

Similar to the qn above, I understand the significance of both yesterday's Hi/Lo (since you want to be careful of the reversal if its a breakout bar) and today's developing high/low, since you are playing the reversal and trading away from today's developing Hi/Lo

However I am not clear as to the significance of today's open?

Thank you,
  • #2,435
  • Jun 22, 2016 1:17am Jun 22, 2016 1:17am
Hi...
please explain rule #3 M5 Bar must open between H1 open and extreme

it's mean to open positon, I must check lower TF M15 and M5, if M5 bar not open between H1 open thats not valid

can you show in chart, please... thanks
  • #2,436
  • Jun 22, 2016 2:54am Jun 22, 2016 2:54am
Quoting Santoso777
Hi... please explain rule #3 M5 Bar must open between H1 open and extreme it's mean to open positon, I must check lower TF M15 and M5, if M5 bar not open between H1 open thats not valid can you show in chart, please... thanks
It means this, all you got to do is start practicing a little and all things will be clear.
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The quality of your life is brought about by the quality of your thinking.
  • #2,437
  • Jun 22, 2016 3:59am Jun 22, 2016 3:59am
Quoting hornet
{quote} It means this......
....and this
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The quality of your life is brought about by the quality of your thinking.
  • #2,438
  • Jun 22, 2016 4:29am Jun 22, 2016 4:29am
Quoting TooSlow
Welcome New Arrivals. Please do not hesitate to post questions, comments, charts, etc. From time to time, it is a good idea to start at post #1 and begin to read through the thread. You are not expected to do this all at once. There are many, many tidbits of trading advice sprinkled throughout this thread. If you subscribe, best to turn off email notifications. Thank you for stopping by.
Hi TooSlow,

Been lurking around. I am having challenges visualizing where is the entry and exit. Would be great if you have something like that on your chart , maybe using a draw profit indicator like from Icefx. Thanks
  • #2,439
  • Jun 22, 2016 5:05am Jun 22, 2016 5:05am
Quoting joshuayip
{quote} Hi TooSlow, Been lurking around. I am having challenges visualizing where is the entry and exit. Would be great if you have something like that on your chart , maybe using a draw profit indicator like from Icefx. Thanks
It's a really simple way of trading. Consistent from what I've seen so far, need to be quick in evaluating where to pull or move SL.
Just download indicator, template and get going. Within a couple of days you will understand it completely
The quality of your life is brought about by the quality of your thinking.
  • #2,440
  • Jun 22, 2016 5:06am Jun 22, 2016 5:06am
Waiting on GU
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The quality of your life is brought about by the quality of your thinking.
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