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Highest Open / Lowest Open Trade

  • #3,561
  • Jul 15, 2016 1:00pm Jul 15, 2016 1:00pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,562
  • Jul 15, 2016 1:01pm Jul 15, 2016 1:01pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,563
  • Jul 15, 2016 1:03pm Jul 15, 2016 1:03pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,564
  • Jul 15, 2016 1:03pm Jul 15, 2016 1:03pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,565
  • Jul 15, 2016 1:04pm Jul 15, 2016 1:04pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,566
  • Jul 15, 2016 1:52pm Jul 15, 2016 1:52pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,567
  • Jul 15, 2016 1:58pm Jul 15, 2016 1:58pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,568
  • Jul 15, 2016 1:59pm Jul 15, 2016 1:59pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,569
  • Jul 15, 2016 3:08pm Jul 15, 2016 3:08pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,570
  • Jul 16, 2016 1:48am Jul 16, 2016 1:48am
Quoting MichaelG
{quote} Ho TooSlow. Would you be kind enough to tell me what is exactly wrong with the charts and notes that were posted here, that I referred to as being correct, but you have said are wrong. It will not only be of assistance to me, but also to the original poster of the question, Orestebufalo and his question about his understanding of the strategy...."I apologize. I will see if I have understood the strategy. I'm studying and I find it really exciting" (post 3479 for your ref) This first chart is on the H1 time frame identifying an area of interest...
thak you very much.....all that night I wondered where I had wrong. Going into confusion. I'm happy and I will do to improve other evidence. Thank you all......
  • #3,571
  • Jul 16, 2016 5:45am Jul 16, 2016 5:45am
Quoting TooSlow
{image} Adding lines and indicators. Why? Of what use are they? Entry? Do not enter? Exit? Target? Do they convey useful information? Have a reason for doing.
I'm loving the lessons you give us like this Too Slow, i feel like im in the Karate Kid movie, your Mr Miyagi and im Daniel san....wax on, wax off!......these are good lessons and they get me thinking. Please keep them coming.

Cheers mate
  • #3,572
  • Jul 16, 2016 5:49am Jul 16, 2016 5:49am
Quoting courier12
{quote} Michael, This is a fantastic compilation of the rules and frequent questions. Thank you for taking the time to put it together.
I second this, thanks again mate for putting the time and effort into creating and posting these, they are very helpful to all.

Cheers bro!
  • #3,573
  • Edited 11:24am Jul 16, 2016 10:49am | Edited 11:24am
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Thinking.
Losses can not be avoided except by not trading.
How to minimize losses?

The lower the chart period, the higher the highest open and the lower the lowest open.
What happens when the chart period is higher?
Less opens.
H1 has 24 opens.
H4 has 6 opens.

This is an experiment.
Maybe it works better.
Maybe it does not.

smHiLoOpen Lines_v1.2.mq4 modified to display H4 opens.
Attached File(s)
File Type: mq4 smHiLoOpen Lines_v1.2.mq4   14 KB | 473 downloads
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,574
  • Jul 16, 2016 10:56am Jul 16, 2016 10:56am
Quoting SniperNZ
{quote} I'm loving the lessons you give us like this Too Slow, i feel like im in the Karate Kid movie, your Mr Miyagi and im Daniel san....wax on, wax off!......these are good lessons and they get me thinking. Please keep them coming. Cheers mate
You are welcome SniperNZ.
Thinking about what?

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,575
  • Jul 16, 2016 11:31am Jul 16, 2016 11:31am
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First Observation

When price failed to make higher H4 open, BARS[8,9,10,11] than H1 open, BAR[17] , price dropped.


"Successful people ask better questions, and as a result, they get better answers." - Tony Robbins

Socratic method is named after the classical Greek philosopher Socrates. It is a form of inquiry and discussion between individuals, based on asking and answering questions to stimulate critical thinking and to illuminate ideas.

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,576
  • Jul 16, 2016 11:36am Jul 16, 2016 11:36am
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Second Observation

When price makes higher H1 open, BAR[10], than H4 open, BAR[11], price returning to H4 open, indicates price is dropping.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,577
  • Jul 16, 2016 11:41am Jul 16, 2016 11:41am
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Idea

The area between the highest H1 open and the highest H4 open may be a new Area Of Interest or Zone.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,578
  • Jul 16, 2016 11:50am Jul 16, 2016 11:50am
POSSIBILITIES

The highest H1 open can be:

  1. Higher than the highest H4 open
  2. Same as the highest H4 open

When higher, an area of interest is created.
Enter sell short when price drops to highest H4 open.


The lowest H1 open can be:

  1. Lower than the lowest H4 open
  2. Same as the lowest H4 open

When lower, an area of interest is created.
Enter buy long when price rises to lowest H4 open.

Consider this a "breakout trade".
The wait may be even longer.

My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #3,579
  • Jul 16, 2016 12:44pm Jul 16, 2016 12:44pm
Hello,


I think this method is renko variant. Highest open and day high value could seen easily. I like Bruce Lee movies and quotes are useful.

Thanks to Tooslow for method.
  • #3,580
  • Jul 16, 2016 12:45pm Jul 16, 2016 12:45pm
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Losses can not be avoided except by not trading.
How to minimize losses?

False breakouts?
False reversals?
Invalid conclusions.

Waiting for price to return to H4 highest/lowest open may prove to be wiser.
See Bar[20] and Bar[16].
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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