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Highest Open / Lowest Open Trade

  • #6,901
  • Sep 28, 2016 7:39pm Sep 28, 2016 7:39pm
Thanks... TooSlow is a good one. I'm pretty new in Trading but he's really good sharing his strategy here at FF.
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #6,902
  • Sep 28, 2016 8:32pm Sep 28, 2016 8:32pm
Quoting lemercenaire
{quote} Welcome aboard aosora. If I am reading your charts correctly, you didn't do anything wrong, you were just a bit early. If you were able to wait and play again later, then you would have been able to re-enter for profit. You are also (I think) trading in an area above the day's previous high, which is not always ideal, especially early in the day's session (and doubly so if you are trading the Asian session). One thing I will say however, it makes it a whole lot easier to answer questions if you use the method's HOLO indicators and screen...
thank you
okay, here I want to ask about:
- "you were just a bit early"

Quote
The first line: Place a line at the highest H1 open and lowest H1 open for the current day.
Current day means today according to your broker.
as my broker start the day at 00:00 (or 04:00 in my local time), I (want to) put a line on Lowest C Day (by the way, I'm looking for Long order)
but, because I want to trade on Asian Session, which is starting @3AM, I wait until then and finally I got Lowest C Day at the 3rd candle.
(but due something irl, I'm away until 9AM, so that I'm starting to search possible entry starting 9AM)

Quote
The third line: Buy at the lowest H1 open after price goes down through it and comes back up.
Price has to GO DOWN FIRST.
Price has to GO BELOW the lowest H1 open.
AFTER, price has dropped below the lowest H1 open, THEN AND ONLY THEN, do you enter a long trade when price rises back up to the lowest H1 open.
my understanding about this statement came from hmm... MichaelG visualization explanation.
@ 9AM, candle starts to move down, but for the next 4 candle EJ didn't open above 9AM candle open (or what he call 'area of interest' between Current Candle Open and Lowest and Highest Current Day) then I wait for the next hour.
@ 10AM, again candle move down towards 'area of interest', and open a new candle in that area of interest and "that's where we prepare to open order".
so what it mean to be "you were just a bit early"? is it Trading Session?
*here's is the example given by TooSlow on the #1 page
Quoting TooSlow
...{image} In above M15 chart, the shaded areas are H1 candles. Bar[24] made the highest H1 open (top of shaded H1 candle) Bar[23] did not open above highest H1 open, it did cross above and cross below this highest H1 open. Bar[22] did not open above highest H1 open, it did cross above highest H1. Bar[21] opened above the highest H1 open (top of shaded H1 candle) and gave a chance to enter. When price crossed below the highest H1 open, both M15 and H1 were red...
2nd.
- "You are also (I think) trading in an area above the day's previous high, which is not always ideal,"
I trade on Sept 28, so what you mean by "day's prev high" is day's high on Sept 27?
in what I see here in my chart, that's not seems the case though?

3rd.
well, before I use the indicator (which is helped much), I want to learn the 'essence' of the system beforehand, and this is just my personality though

last things,
sorry for taking much space
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  • #6,903
  • Sep 28, 2016 11:07pm Sep 28, 2016 11:07pm
Quoting aosora
{quote} thank you okay, here I want to ask about: - "you were just a bit early" {quote} as my broker start the day at 00:00 (or 04:00 in my local time), I (want to) put a line on Lowest C Day (by the way, I'm looking for Long order) but, because I want to trade on Asian Session, which is starting @3AM, I wait until then and finally I got Lowest C Day at the 3rd candle. (but due something irl, I'm away until 9AM, so that I'm starting to search possible entry starting 9AM) {quote} my understanding about this statement came from hmm... MichaelG visualization...
Welcome to the thread, aosora.
Take as much space as you need.
No worries, Mate.
Cheers.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #6,904
  • Sep 29, 2016 1:39am Sep 29, 2016 1:39am
GBPUSD An early heads-up...

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  • #6,905
  • Sep 29, 2016 1:55am Sep 29, 2016 1:55am
H4 short

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It takes courage to grow up and become who you really are - E.E. Cummings
  • #6,906
  • Sep 29, 2016 2:05am Sep 29, 2016 2:05am
Hi mates!
is it a right long position??!!(on last candle)
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  • #6,907
  • Sep 29, 2016 2:21am Sep 29, 2016 2:21am
Quoting arya.aryaee
Hi mates! is it a right long position??!!(on last candle) {image}
Hi a.a

Where is the lowest H1 open today ?
Did your entry M15 candle (in your case) open below that lowest open ?

Answer these and you have your answer
It takes courage to grow up and become who you really are - E.E. Cummings
  • #6,908
  • Sep 29, 2016 2:22am Sep 29, 2016 2:22am
EURUSD Ditto Missed the early one - and unless you went down to m1 entry you wouldn't have gone in anyway - but there may still be a chance later...

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  • #6,909
  • Sep 29, 2016 2:25am Sep 29, 2016 2:25am
GBPCHF Seems to be a bit of room for something to form...

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  • #6,910
  • Sep 29, 2016 2:27am Sep 29, 2016 2:27am
GBPAUD Dammit - missed another one, this time a 1-2-3...

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  • #6,911
  • Sep 29, 2016 2:29am Sep 29, 2016 2:29am
AUDUSD Wait and see but might give us something...

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  • #6,912
  • Sep 29, 2016 2:31am Sep 29, 2016 2:31am
GBPJPY Bounce...

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  • #6,913
  • Sep 29, 2016 2:34am Sep 29, 2016 2:34am
EURJPY After last night's move - what goes up, must come down...???...maybe lol...

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  • #6,914
  • Sep 29, 2016 2:36am Sep 29, 2016 2:36am
GBPNZD Heads up - pair can move big when decides to go...

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  • #6,915
  • Sep 29, 2016 2:38am Sep 29, 2016 2:38am
USDJPY Same goes here as over at EURJPY's house...

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  • #6,916
  • Sep 29, 2016 3:02am Sep 29, 2016 3:02am
Quoting aosora
{quote} thank you okay, here I want to ask about: - "you were just a bit early" {quote} as my broker start the day at 00:00 (or 04:00 in my local time), I (want to) put a line on Lowest C Day (by the way, I'm looking for Long order) but, because I want to trade on Asian Session, which is starting @3AM, I wait until then and finally I got Lowest C Day at the 3rd candle. (but due something irl, I'm away until 9AM, so that I'm starting to search possible entry starting 9AM) {quote} my understanding about this statement...
Hi aosora. Sorry, I've caused you some major confusion which was not my intention in any way. When I said you were just a bit early, I did not in any way mean that you had gone in early against any of the rules (you haven't) but purely that you were unlucky that the entry you used (the one you saw at the time) didn't work out, whereas if you had been lucky enough to go live in my time-zone, you would have been able to go in on one of the later opportunities and you would have had a win.

''Current day means today according to your broker.'' When you start your day is entirely up to to you and yes in MG's round up, that's what it says. All I mean is that those who trade the Asian session can find that they do not have a lot of information to work with (one of our other new crew-members has asked this same question for this exact reason a few weeks back) depending on which broker they are using. I feel that one should use the broker that does give you a bit of a shape to the day in the period before you are actually wanting to trade, which can be achieved by finding and using a broker in the time-zone you wish to trade and placing your indicators on there, whether you actually place the trade with that broker or on another in your own home zone.

''I trade on Sept 28, so what you mean by "day's prev high" is day's high on Sept 27?
in what I see here in my chart, that's not seems the case though?''

If that is the case and I have misread your chart, then I apologise. (Reading other peoples' charts always hurts my head, lol). Overall though, the point remains valid, however. If the trader is working above the previous day's high, then be cautious.

Man, I should just have answered the original question with, ''No, you didn't do anything wrong, it just didn't work this time, it happens.''

Keep on truckin'...
  • #6,917
  • Sep 29, 2016 3:02am Sep 29, 2016 3:02am
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The quality of your life is brought about by the quality of your thinking.
  • #6,918
  • Sep 29, 2016 3:09am Sep 29, 2016 3:09am
Quoting PippyTheGrt
{quote} Hi a.a Where is the lowest H1 open today ? Did your entry M15 candle (in your case) open below that lowest open ? Answer these and you have your answer
thanks dear!! yes my entry was on the m15 candle which open in lower lowest H1 open and then did retrace over it!!!
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  • #6,919
  • Sep 29, 2016 3:12am Sep 29, 2016 3:12am
Quoting hornet
{image}
GBPJPY Yep, Hornet nails it...

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  • #6,920
  • Sep 29, 2016 3:24am Sep 29, 2016 3:24am
Quoting arya.aryaee
{quote} thanks dear!! yes my entry was on the m15 candle which open in lower lowest H1 open and then did retrace over it!!! {image}
Did it? I know charts can vary but on mine, no open below trigger on m15, even on m5.

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I'd have had to go to the m1 to get it...

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