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Highest Open / Lowest Open Trade

  • #2,581
  • Jun 24, 2016 6:11am Jun 24, 2016 6:11am
Hi Too Slow,

Since the rules say:

Sell short at the highest H1 open after price goes up through it and comes back down.

Buy at the lowest H1 open after price goes down through it and comes back up.

Would it be fair to say: Instead of entering at the top of the hour right at the H1 open (of 00 minutes), wait 1,2,3,4,5 etc minutes to see if price goes the other way post the H1 open and only then enter an order at the H1 open?
Thank you,
  • #2,582
  • Jun 24, 2016 6:57am Jun 24, 2016 6:57am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,583
  • Jun 24, 2016 7:57am Jun 24, 2016 7:57am
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  • #2,584
  • Jun 24, 2016 10:46am Jun 24, 2016 10:46am
Quoting TooSlow
{image}
Good algorithm
  • #2,585
  • Jun 24, 2016 11:58am Jun 24, 2016 11:58am
Quoting TooSlow
{image}
Question 2:
Did this bar test high or low?

No, but this bar not breakout high and low, what is in this case?
See atttach
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  • #2,586
  • Jun 24, 2016 2:21pm Jun 24, 2016 2:21pm
Quoting safrash
{quote} Question 2: Did this bar test high or low? No, but this bar not breakout high and low, what is in this case? See atttach {image}
Can not understand what you are asking.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,587
  • Jun 24, 2016 6:41pm Jun 24, 2016 6:41pm
Quoting TooSlow
{quote} Can not understand what you are asking.
After Brexit you can not find daily bar make a new high or low a long of time, I think you must change algorithm, first option
  • #2,588
  • Jun 25, 2016 1:56am Jun 25, 2016 1:56am
Quoting courier12
Hi Too Slow, Since the rules say: Sell short at the highest H1 open after price goes up through it and comes back down. Buy at the lowest H1 open after price goes down through it and comes back up. Would it be fair to say: Instead of entering at the top of the hour right at the H1 open (of 00 minutes), wait 1,2,3,4,5 etc minutes to see if price goes the other way post the H1 open and only then enter an order at the H1 open? Thank you,
Hi Too Slow,

When you get a chance can u pls elaborate as to when exactly u enter? At the open of a new H1 candle or wait for the first 5 min candle to print and close?

Specifically, I am looking at understanding the highlighted below:
Sell short at the highest H1 open after price goes up through it and comes back down.

Buy at the lowest H1 open after price goes down through it and comes back up.

In order for price to go the other way to make the high / low of the day before entry, u would at least wait for a few minutes and not enter right at the H1 open? What can one to in order to not try and catch a falling knife when buying so to speak as each successive H1 open keeps going lower. The PA post BreExit was a good example yesterday in all the majors

I am in Asia and feel like I always try and catch the bottom / top early around the London open hours. Perhaps it is a time zone issue for me?

What I really like about this method is that it is 100% objective, unlike several others which have some level of subjectivity.
  • #2,589
  • Jun 25, 2016 11:29am Jun 25, 2016 11:29am
Quoting courier12
{quote} Hi Too Slow, When you get a chance can u pls elaborate as to when exactly u enter? At the open of a new H1 candle or wait for the first 5 min candle to print and close? Specifically, I am looking at understanding the highlighted below: Sell short at the highest H1 open after price goes up through it and comes back down. Buy at the lowest H1 open after price goes down through it and comes back up. In order for price to go the other way to make the high / low of the day before entry, u would at least wait for a few minutes and not enter right...
In order for price to go the other way to make the high / low of the day before entry, u would at least wait for a few minutes and not enter right at the H1 open?

Yes.
That is right.

I am in Asia and feel like I always try and catch the bottom / top early around the London open hours.

Asia session, trade away from the open.
Look for breakouts, not reversals.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,590
  • Jun 25, 2016 1:18pm Jun 25, 2016 1:18pm
Quoting TooSlow
{quote} In order for price to go the other way to make the high / low of the day before entry, u would at least wait for a few minutes and not enter right at the H1 open? Yes. That is right. I am in Asia and feel like I always try and catch the bottom / top early around the London open hours. Asia session, trade away from the open. Look for breakouts, not reversals.
Thank you Too Slow. This makes sense.

To rephrase everything in my own words:

1. In all 3: US, London and Asian sessions, wait for a few minutes post each H1 open in order to allow for price to make the Hi/Lo of the day and then enter at the H1 open.

2. In the Asian session trade away from the daily open, looking for breakouts and not reversals.

3. Is the right time to start looking for reversals after London comes online at 8 am GMT or perhaps a couple of hours later, esp around 12 GMT in the early hours of NY?

Thank you as always
  • #2,591
  • Jun 26, 2016 10:35pm Jun 26, 2016 10:35pm
Tokyo open breakout trade. Target 100 pips or $1,000 on the way.
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  • #2,592
  • Jun 27, 2016 12:22am Jun 27, 2016 12:22am

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  • #2,593
  • Jun 27, 2016 7:59am Jun 27, 2016 7:59am
Quoting RisingSun
Tokyo open breakout trade. Target 100 pips or $1,000 on the way. {image}
Did you notice the open gap?
Price opened below the close.
Gaps usually get closed.
A chance to bank pips.
Take advantage next time.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,594
  • Jun 27, 2016 8:11am Jun 27, 2016 8:11am
Quoting courier12
{quote} 3. Is the right time to start looking for reversals after London comes online at 8 am GMT or perhaps a couple of hours later, esp around 12 GMT in the early hours of NY? Thank you as always
Yes, usually.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,595
  • Jun 27, 2016 8:37am Jun 27, 2016 8:37am
Quoting TooSlow
{quote} Yes, usually.
Thank you Too Slow.

I have been studying this over the weekend and today and had one last question:

In your charts you mention 1 entry per bar. Is this one entry per H1 bar? Reason I ask is because sometimes price triggers entry, stops out by violating the developing Hi/Lo and then goes in intended direction on the same H1 bar.

Also, if stopped on say USDCAD once, would u be fine retrying it a 2nd or 3rd time on a subsequent H1 bar or would u move to other pairs?

Thank you,
  • #2,596
  • Jun 27, 2016 8:50am Jun 27, 2016 8:50am
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  • #2,597
  • Jun 27, 2016 9:42am Jun 27, 2016 9:42am
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  • #2,598
  • Jun 27, 2016 9:54am Jun 27, 2016 9:54am
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Rule #1
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,599
  • Jun 27, 2016 10:10am Jun 27, 2016 10:10am
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  • #2,600
  • Jun 27, 2016 1:03pm Jun 27, 2016 1:03pm
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