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Trading is as simple as 1-2-3

  • #1,801
  • Dec 27, 2016 1:45pm Dec 27, 2016 1:45pm
Quoting hal7
{image} A short on the JPY today, up about +12.
You the only posse member rounding up renegade pips today!?

Nicely done.
  • #1,802
  • Dec 27, 2016 7:55pm Dec 27, 2016 7:55pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,803
  • Dec 27, 2016 8:05pm Dec 27, 2016 8:05pm
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  • #1,804
  • Dec 27, 2016 8:07pm Dec 27, 2016 8:07pm
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  • #1,805
  • Dec 27, 2016 8:09pm Dec 27, 2016 8:09pm
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  • #1,806
  • Dec 27, 2016 8:11pm Dec 27, 2016 8:11pm
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  • #1,807
  • Dec 27, 2016 8:31pm Dec 27, 2016 8:31pm
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  • #1,808
  • Dec 28, 2016 5:30am Dec 28, 2016 5:30am
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Bit of a shoot out in the OK Corral today but I was able to pull off this EG, currently +10.
  • #1,809
  • Dec 28, 2016 8:48am Dec 28, 2016 8:48am
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  • #1,810
  • Dec 28, 2016 10:09am Dec 28, 2016 10:09am
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  • #1,811
  • Dec 28, 2016 10:35am Dec 28, 2016 10:35am
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  • #1,812
  • Dec 28, 2016 11:10am Dec 28, 2016 11:10am
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  • #1,813
  • Dec 28, 2016 1:12pm Dec 28, 2016 1:12pm
Hi guys,

I was hoping you might be able to help with a quick question that I have on this...

The method states that the new bar opens and the price tests the high/low of the previous bar (daily high or low), then you enter when the price comes back past the open of the current bar in the direction that the price is moving.

But if for example the previous bar makes a new daily low, the new bar opens and initially the price goes up, but then comes back down past the open of the current bar and tests the previous bar (daily low) and then moves back up, would you still enter as it comes back up past the open?

Or does the price need to move down and test the previous bar straight away for it to be a valid signal?

Hopefully that makes sense, thanks in advance for your help.
  • #1,814
  • Dec 28, 2016 3:17pm Dec 28, 2016 3:17pm
if for example the previous bar makes a new daily low, the new bar opens and initially the price goes up, but then comes back down past the open of the current bar and tests the previous bar (daily low) and then moves back up, would you still enter as it comes back up past the open?

Yes, you'd go in on this.
  • #1,815
  • Dec 28, 2016 10:10pm Dec 28, 2016 10:10pm
Quoting lemercenaire
if for example the previous bar makes a new daily low, the new bar opens and initially the price goes up, but then comes back down past the open of the current bar and tests the previous bar (daily low) and then moves back up, would you still enter as it comes back up past the open? Yes, you'd go in on this.
enter only the bar that test previous bar (not make lower low / hight ) and move back to the open, right?
  • #1,816
  • Dec 29, 2016 3:36am Dec 29, 2016 3:36am
Quoting 9fxnan
{quote} enter only the bar that test previous bar (not make lower low / hight ) and move back to the open, right?
Yes, you're looking to enter on that bar. However, by definition any bar after that becomes a HOLO set-up as well, as a new Higher H1 Open / Lower H1 Open will have formed.

If the original 1-2-3 set up doesn't happen but instead, the second bar ''breaks-out'' and moves higher / lower, then you simply repeat the process on the bar that follows that one. (If you had entered a trade already, you will probably stop out in most cases - however do not fret, this happens. Be prepared to take a couple of small, controlled losses - all you do is wait for the next opportunity and take it as it comes. The wins far outstrip the losses).
  • #1,817
  • Dec 29, 2016 3:42am Dec 29, 2016 3:42am
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  • #1,818
  • Dec 29, 2016 4:49am Dec 29, 2016 4:49am
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Some interesting things I observed on the AUD this morning. Later in the afternoon yesterday I went long the AUD off that low. I took 80% off and pretty much forgot about it. Sometimes that is better than watching it I have found. My stop stayed below that low about 3 pips. This morning it was sitting at +50. I did close it out manually. Currently I am short off that high recent high up about +7, again took 80% off at +5. Those red arrows before my current trade are the highs that could have come into play during the march up the ladder over night. Some would have gotten 5 some probably not and some may not have triggered a trade. I find most do trigger if by a .1 fraction of a pip, but I don't always just jump in.
  • #1,819
  • Dec 29, 2016 5:07am Dec 29, 2016 5:07am
Quoting hal7
{image} Some interesting things I observed on the AUD this morning. Later in the afternoon yesterday I went long the AUD off that low. I took 80% off and pretty much forgot about it. Sometimes that is better than watching it I have found. My stop stayed below that low about 3 pips. This morning it was sitting at +50. I did close it out manually. Currently I am short off that high recent high up about +7, again took 80% off at +5. Those red arrows before my current trade are the highs that could have come into play during the march up the ladder...
Better waiting for AU to top-and-tail for a more high-probability entry imo. Plus the spreads on AU overnight there would have killed you (was watching).
  • #1,820
  • Dec 29, 2016 5:13am Dec 29, 2016 5:13am
Quoting lemercenaire
{image}
Took +5 and grateful...

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May be a bigger chance around the US Open.
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