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Highest Open / Lowest Open Trade

  • #2,521
  • Jun 23, 2016 1:13pm Jun 23, 2016 1:13pm
Quoting wannalearn12
The gist of what I am trying to show: I like to pick a chart H1, H4, ect. Once chart is chosen, identify a setup, ie. new high open / low open for the current day. WAIT for the price action to test ABOVE the high open or BELOW the low open. This way on the smaller time frame price action will be moving TOWARDS the High Open or Low Open (Can I hear Momentum?). Make sure to enter and get your price where once the Price Action is at the open you are at 0 profit/loss. MAKE SURE YOU DO NOT ENTER EXACTLY ON THE OPEN, YOU MUST ENTER REGARDING YOUR SPREAD,...

Great explanation.
Thanks.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,522
  • Jun 23, 2016 1:18pm Jun 23, 2016 1:18pm
Quoting safrash
EURNZD BUY from lower open, what mean [11] - H1[11] Lower open? I think not correct enter, firstly must wait closing H1 bar {image}
Too Slow do you see why I like to trade with the trend? It is safer imo - look at that chart - wouldn't you rather take the short once the high open sets up instead of the long at that low open? Yes we may miss some major reversals but our odds go waaaaaaay up? Agree / disagree /thoughts?
  • #2,523
  • Jun 23, 2016 1:20pm Jun 23, 2016 1:20pm
Quoting wannalearn12
{quote} Too Slow do you see why I like to trade with the trend? It is safer imo - look at that chart - wouldn't you rather take the short once the high open sets up instead of the long at that low open? Yes we may miss some major reversals but our odds go waaaaaaay up? Agree / disagree /thoughts?
Agree after 3 losses
But what is trend for you in this chart?

EURNZD understandably
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  • #2,524
  • Jun 23, 2016 1:25pm Jun 23, 2016 1:25pm
Quoting safrash
{quote} Agree after 3 losses But what is trend for you in this chart? {image}
I do not want to take away from the original method. All of the setups work if you enter in the way Too Slow has described (my post is a literal copy and paste of what he has said regarding the entry) This is just the way I prefer to trade it. Take everything with a grain of salt and practice practice practice, and most importantly listen to Too Slow he will not intentionally miss guide you. Once you have demoed for a while hop on live and do Too Slows 10 trade with .01 and post all results only taking perfect entries as described.
  • #2,525
  • Jun 23, 2016 1:28pm Jun 23, 2016 1:28pm
Quoting wannalearn12
The gist of what I am trying to show: I like to pick a chart H1, H4, ect. Once chart is chosen, identify a setup, ie. new high open / low open for the current day. WAIT for the price action to test ABOVE the high open or BELOW the low open. This way on the smaller time frame price action will be moving TOWARDS the High Open or Low Open (Can I hear Momentum?). Make sure to enter and get your price where once the Price Action is at the open you are at 0 profit/loss. MAKE SURE YOU DO NOT ENTER EXACTLY ON THE OPEN, YOU MUST ENTER REGARDING YOUR SPREAD,...
Thank you for this post, wannalearn12.
  • #2,526
  • Jun 23, 2016 1:30pm Jun 23, 2016 1:30pm
Quoting wannalearn12
{quote} Too Slow do you see why I like to trade with the trend? It is safer imo - look at that chart - wouldn't you rather take the short once the high open sets up instead of the long at that low open? Yes we may miss some major reversals but our odds go waaaaaaay up? Agree / disagree /thoughts?
Trend is a concept.
Trend is subjective.
Trend is dependent on chart period.

It is possible you may mean to trade with the daily flow.
When price crosses down through the daily open, the flow is down.
Price change is measured from the open, usually.
Sometimes price is measured from the previous bar's close.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,527
  • Jun 23, 2016 1:33pm Jun 23, 2016 1:33pm
Quoting wannalearn12
{quote} I do not want to take away from the original method. All of the setups work if you enter in the way Too Slow has described (my post is a literal copy and paste of what he has said regarding the entry) This is just the way I prefer to trade it. Take everything with a grain of salt and practice practice practice, and most importantly listen to Too Slow he will not intentionally miss guide you. Once you have demoed for a while hop on live and do Too Slows 10 trade with .01 and post all results only taking...
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,528
  • Jun 23, 2016 1:34pm Jun 23, 2016 1:34pm
Quoting TooSlow
{quote} Trend is a concept. Trend is subjective. Trend is dependent on chart period. It is possible you may mean to trade with the daily flow. When price crosses down through the daily open, the flow is down. Price change is measured from the open, usually. Sometimes price is measured from the previous bar's close.
I agree completely. That is why I have switched to the 1h, 4h charts to trade with a better over all view of the market. Everything under that, imo, is chaos and is hard for me to watch. I go to the lower frames for entry still I just don't monitor on those frames.
  • #2,529
  • Jun 23, 2016 1:38pm Jun 23, 2016 1:38pm
Quoting wannalearn12
{quote} I do not want to take away from the original method. All of the setups work if you enter in the way Too Slow has described (my post is a literal copy and paste of what he has said regarding the entry) This is just the way I prefer to trade it. Take everything with a grain of salt and practice practice practice, and most importantly listen to Too Slow he will not intentionally miss guide you. Once you have demoed for a while hop on live and do Too Slows 10 trade with .01 and post all results only taking perfect entries as described.
Thank you wannalearn12. I like too trade not opposite trade on a big TF, and will listen Too Slow, will try system from next week on a new demo account, because have liked it. I hope we will have a good results.
  • #2,530
  • Jun 23, 2016 1:43pm Jun 23, 2016 1:43pm
Quoting TooSlow
{quote} Trend is a concept. Trend is subjective. Trend is dependent on chart period. It is possible you may mean to trade with the daily flow. When price crosses down through the daily open, the flow is down. Price change is measured from the open, usually. Sometimes price is measured from the previous bar's close.
I trade the same method of entry. Not the daily open(sometimes on occasion) but rather the highest open for the current day or lowest open. In a simpler term I don't trade the pullbacks but rather after it has pulled back from the current overall flow of the market (trend) making a new high open/ low open - This is my entry after the pull back on the new high or low. On the UCAD chart I posted you see I entered short at the highest open after the pullback ( I don't intentionally look for any of this) I just read the PA like you taught me to. and the best set ups for me where after the pullbacks without me even realizing it.
  • #2,531
  • Jun 23, 2016 1:46pm Jun 23, 2016 1:46pm
Quoting wannalearn12
{quote} I trade the same method of entry. Not the daily open(sometimes on occasion) but rather the highest open for the current day or lowest open. In a simpler term I don't trade the pullbacks but rather after it has pulled back from the current overall flow of the market (trend) making a new high open/ low open - This is my entry after the pull back on the new high or low. On the UCAD chart I posted you see I entered short at the highest open after the pullback ( I don't intentionally look for any of this)...
Do you mean highest/lowest H1 open?
Have to be specific or confusion ensues.
Please alwaysspecify to which time frame open you are referring.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,532
  • Jun 23, 2016 1:50pm Jun 23, 2016 1:50pm
Quoting TooSlow
{quote} Do you mean highest/lowest H1 open? Have to be specific or confusion ensues. Please alwaysspecify to which time frame open you are referring.
I edited the mistakes in the post, so sorry for confusion - a few too many beers for my early weekend. ^.^
  • #2,533
  • Jun 23, 2016 2:03pm Jun 23, 2016 2:03pm
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Brexit must be causing this.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,534
  • Jun 23, 2016 2:04pm Jun 23, 2016 2:04pm
Quoting TooSlow
{image} Brexit must be causing this.
Oh a gap, what would that be a low gap? and price will fill it going up?
  • #2,535
  • Jun 23, 2016 2:05pm Jun 23, 2016 2:05pm
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Gap trade paid 43 pips
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,536
  • Jun 23, 2016 2:06pm Jun 23, 2016 2:06pm
Quoting TooSlow
{image} Gap trade paid 43 pips
Nice!!!!!
  • #2,537
  • Jun 23, 2016 2:09pm Jun 23, 2016 2:09pm
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Spread is whacked!!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,538
  • Jun 23, 2016 2:11pm Jun 23, 2016 2:11pm
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Big boxes are the BID/ASK PRICE.
Look at the gaps.
See how they fill.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,539
  • Jun 23, 2016 2:16pm Jun 23, 2016 2:16pm
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You may have noticed usdcad charts this week.
Main reason is eur and gbp could spike in the blink of an eye.
Do not want to get caught on the losing side.
Margins on eur and gbp have gone up 100%.
Margin on usdcad has remained the same.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,540
  • Jun 23, 2016 2:19pm Jun 23, 2016 2:19pm
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This is kind of fun
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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