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Trading is as simple as 1-2-3

  • #1,761
  • Dec 21, 2016 4:14am Dec 21, 2016 4:14am
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Took this same trade over on HiLo. Took 80% off at +5, sitting with this and my AUD at +33.
  • #1,762
  • Dec 21, 2016 4:22am Dec 21, 2016 4:22am
Quoting pfcjak
Hi guys, Thanks for this thread TooSlow. The information is great, however I have a quick question and would be grateful if someone could help as I am keen to get this. In the original post it mentions simply placing a buy when a bar fails to make a lower low than the previous bar and then the price rises above the open of the current bar and vice versa for a sell. However in more recent posts it mentions that the current bar needs to test the high/low of the previous bar and then you enter the trade when the price comes back and passes the open...
Hi pfcjak,

May not be the most qualified to answer this but my take is you are simply looking to the previous hour bar at the start of the new hour. If it made a new high or low and this current bar moves toward that high or low but fails to take it out, you then take the trade when price moves through the open of the current hour bar. That's about it. The test part is just a move in that direction of the previous high or low. I would say bear in mind most bars will make some move in that direction even fractionally so you need to be a little cautious sometimes when the pair is on a strong march in one direction as that slight trigger can be a pause before it turns back to a strong move up or now. Now you should really be confused....
  • #1,763
  • Dec 21, 2016 4:24am Dec 21, 2016 4:24am
Oops and I was going to add if you look at my CAD trade above, I always like it when I can see a good share of move toward that high and then fall back to the bar open. Those in my experience have been good indicators of failure on the test and setting course in the opposite direction.
  • #1,764
  • Edited 5:29am Dec 21, 2016 5:10am | Edited 5:29am
EJ didn't do much - I bailed with +2 in my pocket but what do you know, good old GU came through again...

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There may even be something to be pinched if it comes back on us now...mmmm...
  • #1,765
  • Dec 21, 2016 5:28am Dec 21, 2016 5:28am
Quoting pfcjak
Hi guys, Thanks for this thread TooSlow. The information is great, however I have a quick question and would be grateful if someone could help as I am keen to get this. In the original post it mentions simply placing a buy when a bar fails to make a lower low than the previous bar and then the price rises above the open of the current bar and vice versa for a sell. However in more recent posts it mentions that the current bar needs to test the high/low of the previous bar and then you enter the trade when the price comes back and passes the open...
Hi pfcjak. Welcome to the thread. No need for the confusion, it's simply semantics. As Hal says above, you have a new H1 High or Low formed. The next bar tries to go higher / lower and doesn't make it. Enter as price crosses the open of that bar.
  • #1,766
  • Dec 21, 2016 5:55am Dec 21, 2016 5:55am
Watch...
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  • #1,767
  • Dec 21, 2016 6:18am Dec 21, 2016 6:18am
Welcome newcomers to the thread.
Do not let the simple rules confuse you.
This method is that simple.
Profitable, too.
Waiting for a pair to trade can take a while.
Watching a pair make a new daily high or low means you have to wait for that H1 bar to close.
That could take 59 minutes.
Just move on to another pair.



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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,768
  • Dec 21, 2016 8:44am Dec 21, 2016 8:44am
Quoting lemercenaire
{quote} Yep, so it is... {image}
It certainly delivered!

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Might even give us something on the way back down as well...
  • #1,769
  • Dec 21, 2016 10:09am Dec 21, 2016 10:09am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,770
  • Dec 21, 2016 10:29am Dec 21, 2016 10:29am
Quoting lemercenaire
{quote} It certainly delivered! {image} Might even give us something on the way back down as well...
Yep...

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  • #1,771
  • Dec 21, 2016 10:43am Dec 21, 2016 10:43am
Quoting lemercenaire
{quote} Yep... {image}
So tail and top today'
  • #1,772
  • Dec 21, 2016 11:18am Dec 21, 2016 11:18am
Quoting wannalearn12
{quote} So tail and top today'
Just to keep us on our toes
  • #1,773
  • Dec 21, 2016 11:26am Dec 21, 2016 11:26am
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,774
  • Dec 21, 2016 2:05pm Dec 21, 2016 2:05pm
Quoting hal7
{quote} Hi pfcjak, May not be the most qualified to answer this but my take is you are simply looking to the previous hour bar at the start of the new hour. If it made a new high or low and this current bar moves toward that high or low but fails to take it out, you then take the trade when price moves through the open of the current hour bar. That's about it. The test part is just a move in that direction of the previous high or low. I would say bear in mind most bars will make some move in that direction even fractionally so you need to be a little...
Thank you for your reply, that's helped a lot.
  • #1,775
  • Dec 21, 2016 2:46pm Dec 21, 2016 2:46pm
Still truckin'...

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  • #1,776
  • Dec 21, 2016 2:59pm Dec 21, 2016 2:59pm
Quoting lemercenaire
Still truckin'... {image}
Are you along for the ride?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,777
  • Dec 21, 2016 3:43pm Dec 21, 2016 3:43pm
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  • #1,778
  • Edited 4:23pm Dec 21, 2016 3:47pm | Edited 4:23pm
Quoting TooSlow
{quote} Are you along for the ride?
For the last 6 hrs!!!

Finally came to an end...

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Some day. All the way up - all the way down. Can't ask for any better than that.
  • #1,779
  • Dec 22, 2016 12:45am Dec 22, 2016 12:45am
Any interest?
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  • #1,780
  • Dec 22, 2016 2:45am Dec 22, 2016 2:45am
Nope, not interested in the EJ anymore. It meandered down to 80 or so and I jumped in only to be shot out of the cannon on the high of like 98.
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