Highest Open / Lowest Open Trade | Page 484 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

As complicated as necessary: Highest Open / Lowest Open Trade 861 replies

Highest & Lowest Open/Close Price for a Loop 3 replies

I need to highest and lowest SMA 14 replies

how to get yesterday price highest and lowest 7 replies

highest to lowest volume pairs??? 3 replies

Attachments: Highest Open / Lowest Open Trade
Exit Attachments

Highest Open / Lowest Open Trade

  • #9,661
  • Jan 7, 2017 6:46pm Jan 7, 2017 6:46pm
Quoting lemercenaire
{quote} Average Daily Range. If price is sitting near these levels that can have a bearing on how price is going to move. Not part of any rules but something to add in later as you gain experience with how HOLO works.
Thanks. I understand average daily range and I use an adr indicator on my charts, I just didn't understand why I got that reply to my post.
Indentify > Plan > Accept > Execute
  • #9,662
  • Jan 7, 2017 6:58pm Jan 7, 2017 6:58pm
Quoting TooSlow
Looks like we are having a HOLO convention. TooSlow , lemercenaire , MichaelG , Where's Pippy?
Yes, where is Pippy? By the way. Happy New Year Guys.
  • #9,663
  • Jan 7, 2017 6:58pm Jan 7, 2017 6:58pm
OK - had a look and here's a second and arguably better (clearer) chart example trade set up, from EG this Friday.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP.ecnH12ndegforfrisco#1.png Size: 28 KB


As you can see, once again, we have a New Higher Open as circled in red.
This time, price drops down from this open before once more returning to break up through it at the blue circle.

Now we switch to the 15 min chart:

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP.ecnM15egforfrisco#2.png Size: 30 KB


Now we can still see the red and blue circled points. They have not changed. Remember - Price is the same on all time-frames.
However, we now have a 15 min bar opening above the level, here circled in yellow.
This is our ''GET READY'' signal.

Once we have this signal, WE WAIT...
We wait until we see price move back down and across the entry level.
On the chart below, we see this marked in green.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP.ecnM15egforfrisco#3.png Size: 29 KB


Place your trade - you're off and running!

Dunno what we eventually got out of this and it doesn't matter for the purposes of this eg, as all we are interested in here is the entry procedure.
  • #9,664
  • Jan 7, 2017 7:14pm Jan 7, 2017 7:14pm
Michael G's page helped...then I went back to post 1, and it began to sink in. So I went back to the First Post by TooSlow and tried to see what I missed. Part of the confusion was I read Too Slows very first post, then went to charts and tried to work up trades. then came back and read more where he introduced shorter time frame charts (M15). More confusion. I cannot say I have it down 100% But before the week is over I should.

So I will continue to peruse the thread for clues. Question. (I have read and reviewed first post and cannot find the answer to this question, but I confess, I have not read all 484 pages.) It seems that as the trading day evolves, and I am adjusting my H1 lines, it is possible to have more than one trade per day... I mean, after you post your first trade (win,lose or draw) You don't quit for the day...do you? When I went to my charts and made up a one hour and a 15 min BP chart, I picked a day where there was first a sell triggered that was profitable...then the market went way down, consolidated...and a buy was triggered. So...it is possible to have multiple triggers in a single day...Yes?

My next Question...which I also could not find the answer to. Is that for this system , you must have TWO H1 BARS painted before you have both Hi and LO levels. Right? Specifically, TooSlow begins his day at 5 PM East Coast time., so, if TooSlow traded during the evening, his first Hi & Low Lines would be in place by 7 PM.
I just changed my SIERRA CHART to NY Time (my home town) so I can follow along with TooSlow.
Thanks~
  • #9,665
  • Jan 7, 2017 7:16pm Jan 7, 2017 7:16pm
Finally - what those charts look like on my screens as I see them...

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP.ecnH1egasisforfrisco#4.png Size: 33 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP.ecnM15egforfrisco#5.png Size: 36 KB
  • #9,666
  • Jan 7, 2017 7:19pm Jan 7, 2017 7:19pm
Quoting frisco
Michael G's page helped...then I went back to post 1, and it began to sink in. So I went back to the First Post by TooSlow and tried to see what I missed. Part of the confusion was I read Too Slows very first post, then went to charts and tried to work up trades. then came back and read more where he introduced shorter time frame charts (M15). More confusion. I cannot say I have it down 100% But before the week is over I should. So I will continue to peruse the thread for clues. Question. (I have read and reviewed first post and cannot find the...
First up. Yes, you can have as many trades as you can find in a day.
Secondly, it is of course true that you will have the Highest Open and the Lowest Open in the first bar / candle of the day. A little common sense is required. You will however have more than enough information to get started at the US Open.
  • #9,667
  • Jan 7, 2017 7:22pm Jan 7, 2017 7:22pm
Quoting wizlon32
{quote} Thanks. I understand average daily range and I use an adr indicator on my charts, I just didn't understand why I got that reply to my post.
Cool - but yes, simply that it can have a bearing on trade decisions (though again, as I said, not in the official rules - don't get caught up in it).
  • #9,668
  • Jan 7, 2017 7:23pm Jan 7, 2017 7:23pm
Studying your charts Lum....Not clear on why there are two lines labeled "high" You can read your charts, but I can't. Just read your pst. When you refer to the US open...What time of day-East Coast Time? I ask because I typically am in front of the screen at 6 AM which is 9 Am NY time.To me that is the New York open. (Actually 9:30 AM Eastern)
  • #9,669
  • Jan 7, 2017 7:25pm Jan 7, 2017 7:25pm
Quoting MichaelG
{quote} Yes, where is Pippy? By the way. Happy New Year Guys.
Happy New Year to you too, stranger! Hope you had a grand time in Down-Under Land (That doesn't sound right, lol!)

Pippy is fine and dandy and I am in touch every other day at least. He has just been taking a bit of a break. Back soon!
  • #9,670
  • Jan 7, 2017 7:27pm Jan 7, 2017 7:27pm
Quoting frisco
Studying your charts Lum....Not clear on why there are two lines labeled "high" You can read your charts, but I can't. Just read your pst. When you refer to the US open...What time of day-East Coast Time?
D1 (0) is Today's High
D1 (1) is Yesteday's High
  • #9,671
  • Jan 7, 2017 7:29pm Jan 7, 2017 7:29pm
Quoting frisco
Studying your charts Lum....Not clear on why there are two lines labeled "high" You can read your charts, but I can't. Just read your pst. When you refer to the US open...What time of day-East Coast Time? I ask because I typically am in front of the screen at 6 AM which is 9 Am NY time.To me that is the New York open. (Actually 9:30 AM Eastern)
Lem if you please also...lum is a chimney where I come from, lol
  • #9,672
  • Jan 7, 2017 7:30pm Jan 7, 2017 7:30pm
Quoting frisco
Specifically, TooSlow begins his day at 5 PM East Coast time., so, if TooSlow traded during the evening, his first Hi & Low Lines would be in place by 7 PM. I just changed my SIERRA CHART to NY Time (my home town) so I can follow along with TooSlow. Thanks~
I trade the NY session.
By that time, there are 16 one hour candles on my chart.
Price usually makes a new daily high and/or new daily low during the NY session.
And if price doesn't, usually there still are some HOLO trades to be had.

It does not matter what chart period you use.
The highest/lowest H1 open stay the same.
As a beginning HOLO trader, it is best you stay with the H1 charts until you understand and have mastered the basics.

Like Lem says, those BE+1s and 5s add up.
20 * 5 = 100!
Obviously, that is more than one HOLO trade a day.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,673
  • Jan 7, 2017 7:30pm Jan 7, 2017 7:30pm
Quoting lemercenaire
{quote} Lem if you please also...lum is a chimney where I come from, lol
Scotland?
Indentify > Plan > Accept > Execute
  • #9,674
  • Jan 7, 2017 7:31pm Jan 7, 2017 7:31pm
Quoting frisco
Studying your charts Lum....Not clear on why there are two lines labeled "high" You can read your charts, but I can't. Just read your pst. When you refer to the US open...What time of day-East Coast Time? I ask because I typically am in front of the screen at 6 AM which is 9 Am NY time.To me that is the New York open. (Actually 9:30 AM Eastern)
NY opens at 8 am EST.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #9,675
  • Jan 7, 2017 7:31pm Jan 7, 2017 7:31pm
Quoting iamsovereign
{quote} I am aware of toslow123 and I have seen some of your dead zone info , but that's about it. I use a trade style similar to your dead zone... although I do not know how you personally trade it. @ tooslow- I just got banned - what a baby
Reason I mentioned 1-2-3 is that it is a way of trading the extremes like you mentioned.
  • #9,676
  • Jan 7, 2017 7:32pm Jan 7, 2017 7:32pm
Quoting wizlon32
{quote} Scotland?
Yep - Glasgow.
  • #9,677
  • Jan 7, 2017 7:36pm Jan 7, 2017 7:36pm
I think you're "bright"(Lumiere)....So Le became Lu. sorry. Le (The) Mercenaire (mercenary). It's a movie; with never saw it, but I just found it on YouTube. Subtitles~ Found another with Jack Palance, 1968. Also a book. And on yahoo search...YOU come up fifth!
  • #9,678
  • Jan 7, 2017 7:39pm Jan 7, 2017 7:39pm
1975. June. Drought conditions in UK. We landed at Kinloss RAF. I never realized that Findhorn (famous garden) was just outside the base. I was flight crew on a sub hunter P-3. They had similar plane they called....escapes me..but it will come. NIMROD. We were guests for a week. They gave us driver and a Lorrie and kept us from pub to pub for a week. Great folks. But it was a hot & dry year.

Attached Image (click to enlarge)
Click to Enlarge Name: nimrod-mr2-xv254-kinloss-14-2-10-21.jpg Size: 1.1 MB
  • #9,679
  • Jan 7, 2017 7:50pm Jan 7, 2017 7:50pm
Quoting lemercenaire
{quote} Yep - Glasgow.
I used to live in Mary Hill. Springbank St right off Fir lane (Fir Hil, Partick Thistle). Always a pleasure to meet a fellow Scot!
Indentify > Plan > Accept > Execute
  • #9,680
  • Jan 7, 2017 8:14pm Jan 7, 2017 8:14pm
Thanks again TooSlow, Lemercenaire, wiz. Later. frisco
2 traders viewing now