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Highest Open / Lowest Open Trade

  • #5,721
  • Aug 22, 2016 3:12pm Aug 22, 2016 3:12pm
Quoting MichaelG
{quote} G'day Mate. Thanks for the "name" explanation. I was also wondering that one. Young Warren did have a few issues as I recall. Not suggesting you have any Mate. Very happy for your input here. It brings a certain (acceptable) irreverence to the thread, and along with Pippy, you guys give me a great many giggles. Keep em coming .....as well as the really good trade perspectives you guys present. Thanks(from someone who has not got nearly the same keystroke speed that you have.) Cheers Michael
Thanks Michael

Talking about input to this positive, friendly thread, I'm sure your documents have been of great help to many with many more to come
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,722
  • Aug 22, 2016 3:14pm Aug 22, 2016 3:14pm
Quoting TooSlow
{image} New H4 candle at TOTH (top of the hour). What do you know about H4 candles?
A new one starts every hour.

How can that happen ?

Does it make a difference ?
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,723
  • Aug 22, 2016 3:19pm Aug 22, 2016 3:19pm
Quoting TooSlow
{quote} Perhaps newcomers should only watch for the first 3 - 5 days?
I honestly think they should - using the naked H1 chart. Don't use the template. Set the lines yourself. No performance anxiety, no stress at all, just absorb the process. Watch the ebb and flow...
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.ecnH1nakedandhowlingatthemoon.png Size: 31 KB
  • #5,724
  • Aug 22, 2016 3:19pm Aug 22, 2016 3:19pm
Quoting PippyTheGrt
{quote} A new one starts every hour. How can that happen ? Does it make a difference ?
H4, PTG, not H1.
A new H1 starts every hour.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,725
  • Aug 22, 2016 3:24pm Aug 22, 2016 3:24pm
Quoting lemercenaire
{quote} I honestly think they should - using the naked H1 chart. Don't use the template. Set the lines yourself. No performance anxiety, no stress at all, just absorb the process. Watch the ebb and flow... {image}
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow2.png Size: 28 KB


Template attached.
Attached File(s)
File Type: tpl tooslow_ lemercenaire.tpl   4 KB | 840 downloads
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,726
  • Aug 22, 2016 3:24pm Aug 22, 2016 3:24pm
Quoting PippyTheGrt
{quote} Thanks LM. This weekend I reminded another idea from the other universe, "3rd dots". Divide s bar in 3 parts. Zone 2 and 3 roughly correspond with 1/3 to 2/3 (or at least above the 1/3rd). There is an indicatr for that, but it's easy to eyeball also.
There were two more (that I saw live, absolutely no doubt there were actually more available)...
EURGBP Zone 1 entry +14
GBPCHF Zone 3 entry +11

I am always a fan of the easy-to-eyeball...
  • #5,727
  • Aug 22, 2016 3:28pm Aug 22, 2016 3:28pm
Quoting PippyTheGrt
{quote} Thanks Michael Talking about input to this positive, friendly thread, I'm sure your documents have been of great help to many with many more to come
I would second that, Pippy - looking at the 'naked' chart and then being able to check, ''...well that just happened - what would I do now?'' on the collected document was very helpful.
  • #5,728
  • Aug 22, 2016 3:33pm Aug 22, 2016 3:33pm
Quoting lemercenaire
{quote} I would second that, Pippy - looking at the 'naked' chart and then being able to check, ''...well that just happened - what would I do now?'' on the collected document was very helpful.
This thread has the potential to become the best thread on FF.
We have a great group of traders assembled here.
And none of the nastiness of some of the other popular threads.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,729
  • Aug 22, 2016 3:34pm Aug 22, 2016 3:34pm
Quoting TooSlow
{quote} {image} Template attached. {file}
Love it.

However I would use this as a second stage marker, as one of the reasons to add your own lines is that it helps you to see the high being formed if you have to move it yourself - that was part of the key to understanding for me.

Perhaps split the week in half. Start out my naked and then second half, add the template. That would also be a good time to look at flicking to the m15 chart to see if new bar forms there. ONLY m15 to star with. Once you have seen a bar form in there, immediately switch back to the H1.

Step-By-Step-By-Step...
  • #5,730
  • Aug 22, 2016 3:37pm Aug 22, 2016 3:37pm
Quoting TooSlow
{quote} H4, PTG, not H1. A new H1 starts every hour.
LOL

A new H4 too.

How could that be ?

What does that depend on ?

Would one H4 be more important than another ?

And if so, why ?

Aristotle says hello
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,731
  • Aug 22, 2016 3:41pm Aug 22, 2016 3:41pm
Quoting lemercenaire
{quote} Love it. However I would use this as a second stage marker, as one of the reasons to add your own lines is that it helps you to see the high being formed if you have to move it yourself - that was part of the key to understanding for me. Perhaps split the week in half. Start out my naked and then second half, add the template. That would also be a good time to look at flicking to the m15 chart to see if new bar forms there. ONLY m15 to star with. Once you have seen a bar form in there, immediately switch back to the H1. Step-By-Step-By-Step...
It is also a good way for those who have a bit more experience, not just newbies. We can all benefit from a bit of humility...an added Bruce-Lee-Ness in our trading lives.

Take the time to ''un-learn'' all the useless, extraneous, guff that will only slow you down and hold you back.

Empty out all the stale water so you can refill with fresh.
  • #5,732
  • Aug 22, 2016 3:43pm Aug 22, 2016 3:43pm
Quoting PippyTheGrt
{quote} LOL A new H4 too. How could that be ? What does that depend on ? Would one H4 be more important than another ? And if so, why ? Aristotle says hello
New H4 starts every 4 hours.
00:00
04:00
08:00
12:00
16:00
20:00
There are 6 H4 bars per day.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,733
  • Aug 22, 2016 3:45pm Aug 22, 2016 3:45pm
Quoting PippyTheGrt
{quote} LOL A new H4 too. How could that be ? What does that depend on ? Would one H4 be more important than another ? And if so, why ? Aristotle says hello
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow1.png Size: 49 KB


What can you tell me about the H4 bars in this chart?
What clues are there?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,734
  • Aug 22, 2016 3:47pm Aug 22, 2016 3:47pm
Quoting TooSlow
{quote} New H4 starts every 4 hours. 00:00 04:00 08:00 12:00 16:00 20:00 There are 6 H4 bars per day.
Ah...but is that my broker 00:00? Your broker 00:00? UK 00:00? US 00:00? MichaelG's middle-of-everyone-else's-night 12:00?

I can feel my brain starting to leak out of my ears...
  • #5,735
  • Aug 22, 2016 3:50pm Aug 22, 2016 3:50pm
Quoting TooSlow
{quote} {image} What can you tell me about the H4 bars in this chart? What clues are there?
To annoy Pippy about price-action cues ​ They show that the move is running out of steam and the direction is undecided and hesitant (long wicks and tails).

I'd also be wary of that gap from earlier...
  • #5,736
  • Aug 22, 2016 3:56pm Aug 22, 2016 3:56pm
Quoting TooSlow
{quote} New H4 starts every 4 hours. 00:00 04:00 08:00 12:00 16:00 20:00 There are 6 H4 bars per day.
New H4 starts every 4 hours. Correct.

00:00 01:00 02:00 03:00
04:00 05:00 06:00 07:00
08:00 09:00 10:00 11:00
12:00 13:00 14:00 15:00
16:00 17:00 18:00 19:00
20:00 21:00 22:00 23:00

There are 6 H4 bars per day. And per 24 hours.

With every decent trading platform you can let an H4 start at every hour you wish.
Every H4 start time has their own OHLC.
On my MT4, an H4 starts at 07:00 CET. Why that time ? Why not 09:00 when London opens ?
Why attach a specific weight to an H4 with a specific opening time over others ?

To me, it's about London open. 09:00 CET makes sense, not 08:00 as it is now. It discounts the value of the H4 as I see them on MT4 -for me-.
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,737
  • Aug 22, 2016 3:59pm Aug 22, 2016 3:59pm
Quoting lemercenaire
{quote} To annoy Pippy about price-action cues ​ They show that the move is running out of steam and the direction is undecided and hesitant (long wicks and tails). I'd also be wary of that gap from earlier...
Wicks can also point in the direction of the move to come. "snowplough"
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,738
  • Aug 22, 2016 4:02pm Aug 22, 2016 4:02pm
Quoting lemercenaire
{quote} Ah...but is that my broker 00:00? Your broker 00:00? UK 00:00? US 00:00? MichaelG's middle-of-everyone-else's-night 12:00? I can feel my brain starting to leak out of my ears...
Your broker.
Your daily D1 candle begins at 00:00 broker time.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,739
  • Aug 22, 2016 4:03pm Aug 22, 2016 4:03pm
Quoting PippyTheGrt
{quote} Wicks can also point in the direction of the move to come. "snowplough"
Getting warmer.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,740
  • Aug 22, 2016 4:04pm Aug 22, 2016 4:04pm
Quoting PippyTheGrt
With every decent trading platform you can let an H4 start at every hour you wish. Every H4 start time has their own OHLC.
Gimmicks.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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