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Highest Open / Lowest Open Trade

  • #5,821
  • Aug 23, 2016 5:27am Aug 23, 2016 5:27am
Quoting lemercenaire
{quote} I hear what you're saying but I'm just playing Breakout Bars on H1 tf that can't be traded by HOLO. There are all sort of methods to trade ''micro-1-2-3's'' but I've more than enough to keep me happy.
Hi LM,

Does this mean the ones which do not have a 5/15 min open in the area of interest?
  • #5,822
  • Aug 23, 2016 5:37am Aug 23, 2016 5:37am
EURUSD 1-2-3 Taken out by 1 pip...Still, +15 locked in...c'est la vie.
Attached Image (click to enlarge)
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  • #5,823
  • Aug 23, 2016 5:41am Aug 23, 2016 5:41am
Quoting courier12
{quote} Hi LM, Does this mean the ones which do not have a 5/15 min open in the area of interest?
I repeat from elsewhere:

1-2-3:

A bar makes a NEW DAILY high and closes. Next bar fails to make a higher high and reverses. Sell when price drops below the open price of the current bar.

A bar makes a NEW DAILY low and closes. Next bar fails to make a lower low and reverses. Buy when price rises above the open price of the current bar.
  • #5,824
  • Aug 23, 2016 5:42am Aug 23, 2016 5:42am
Quoting courier12
{quote} Rule 7: Do not wait for the H1 bar to close. However, for newbies if the H1 is a breakout bar then it is prudent to wait for this H1 bar to close?
Please reread the rules.
Do not add, subtract or alter the when quoting.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,825
  • Aug 23, 2016 5:43am Aug 23, 2016 5:43am
Quoting courier12
{quote} The clue in this chart are do not trade against the open of the H4 bar? And as you said a couple of days back, the H4 has the potential to become a freight train?
Close.
There's more.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,826
  • Aug 23, 2016 5:46am Aug 23, 2016 5:46am
EURUSD 1-2-3 ...and...there's the reverse. Happy with those +15 now for sure ​...
Attached Image (click to enlarge)
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  • #5,827
  • Aug 23, 2016 5:51am Aug 23, 2016 5:51am
Quoting TooSlow
{quote} Close. There's more.
Another attempt:

It is better to enter when the opens are "stacked" i.e. the M5 open is above H1 open, H1 open is above H4 opens for shorts and vice versa for longs?
  • #5,828
  • Aug 23, 2016 5:52am Aug 23, 2016 5:52am
Quoting TooSlow
{quote} Please reread the rules. Do not add, subtract or alter the when quoting.
Well, I added that as a caution for newbies as u have said in some other posts. But yes, the standalone rule does not say anything about it
  • #5,829
  • Aug 23, 2016 5:58am Aug 23, 2016 5:58am
Hello,

If you don't mind I will join the party.

Below you can find my trade no. 1 for 10 trades challenge.

TRADE #1

Pair: USDCAD

Position: Long at 1.29024 (H1 Lower Open 1.29015)
SL at 1.28835
Entry: by market order at the ask price
Exit: by SL at the bid price (1.29125)
Position size: 0.20 lot
Trade duration: 00:39:48
P/L: + 10.1 pips (15.64 $)
Spread: +/- 2 pips

Comments:
- The trade was open too late.
- I moved SL when bid price hit my purple line which was first 5 pips from my entry point. I was moving that line every 5 pips.

Difficulties:
- I use 5 min TF to open position. If for example 5 min candle open 1.8 pips below Lower H1 Open should I immediately open long position (because of spread 2.3 pip ask price will be above LO) or should I wait for 5min candle that open lower than 2.3 pips to have more room for set up stop order?
- English

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  • #5,830
  • Aug 23, 2016 6:09am Aug 23, 2016 6:09am
Quoting courier12
{quote} Another attempt: It is better to enter when the opens are "stacked" i.e. the M5 open is above H1 open, H1 open is above H4 opens for shorts and vice versa for longs?
No.
Focus on H4.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,831
  • Aug 23, 2016 6:11am Aug 23, 2016 6:11am
Quoting courier12
{quote} Well, I added that as a caution for newbies as u have said in some other posts. But yes, the standalone rule does not say anything about it
Be concerned about yourself.
Others must find their own way in their own time.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #5,832
  • Edited 6:39am Aug 23, 2016 6:14am | Edited 6:39am
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EDIT: result see below.
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,833
  • Aug 23, 2016 6:20am Aug 23, 2016 6:20am
Quoting TooSlow
{quote} No. Focus on H4.
HOLO works on H4? Like you posted that HOLO works on the higher timeframes of M/W/D?
  • #5,834
  • Aug 23, 2016 6:20am Aug 23, 2016 6:20am
Quoting TooSlow
{quote} Be concerned about yourself. Others must find their own way in their own time.
ok, understood!
  • #5,835
  • Aug 23, 2016 6:36am Aug 23, 2016 6:36am
Quoting courier12
{quote} HOLO works on H4? Like you posted that HOLO works on the higher timeframes of M/W/D?
Price is the same on every "time frame".
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,836
  • Aug 23, 2016 6:38am Aug 23, 2016 6:38am
Just another day in the office.

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It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,837
  • Aug 23, 2016 6:45am Aug 23, 2016 6:45am
Quoting lemercenaire
{quote} No intention of using them. Absolutely no need - go naked and howl at the moon...
Speaking of "howling at the moon" LM......my mind immediately went to.... Just like Tom Thumbs Blues. (Dylan song.....cover by Mr Ferry.)

Inserted Video
  • #5,838
  • Aug 23, 2016 6:51am Aug 23, 2016 6:51am
Quoting MichaelG
{quote} Speaking of Brian Ferry

Love it.
Good memories
It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,839
  • Aug 23, 2016 7:06am Aug 23, 2016 7:06am
What bar ? Breakout bar.

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So: no HOLO there. Even if it weren't for the breakout bar.

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And now for something completely different:

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It takes courage to grow up and become who you really are - E.E. Cummings
  • #5,840
  • Aug 23, 2016 7:12am Aug 23, 2016 7:12am
Quoting courier12
{quote} HOLO works on H4? Like you posted that HOLO works on the higher timeframes of M/W/D?
Yes.
Methods should be time frame independent.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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