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Highest Open / Lowest Open Trade

  • #9,981
  • Jan 17, 2017 1:36am Jan 17, 2017 1:36am
Waiting to long in 15 MIN...USDCAD.....as price does not goes below H1 low and came back...waiting for 15 min candle to provide right entry.Am I on right direction?
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  • #9,982
  • Jan 17, 2017 1:42am Jan 17, 2017 1:42am
Waiting signal to short, but extreme caution.... just wait because rule #1 breakout bars
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  • #9,983
  • Jan 17, 2017 1:50am Jan 17, 2017 1:50am
Quoting Kammgcni
Entered long EURJPY at 120.771 with sl at day low....Am i doing right? Screenshot1.png;2142981 {image}
almost.
rule #1 says...no entry on breakout bar.
you chart on the left clearly says: "WARNING: H1 LOW BREAKOUT"

apart that the rest is ok.
but as per rules it a 'no trade'
there is always, always another trade!!
  • #9,984
  • Jan 17, 2017 1:52am Jan 17, 2017 1:52am
Quoting Santoso777
Waiting signal to short, but extreme caution.... just wait because rule #1 breakout bars {image}
you aren't waiting because of rule #1, in your case you simply waiting for the price to get and close 'into the zone'
there is always, always another trade!!
  • #9,985
  • Jan 17, 2017 2:02am Jan 17, 2017 2:02am
Quoting profitfarmer
{quote} you aren't waiting because of rule #1, in your case you simply waiting for the price to get and close 'into the zone'
yes.... i've waited many hours, because it strong uptrend, every hours is breakout bars.... and now breakout again.. so no trade. now go to rule #2, enjoy the trade...
  • #9,986
  • Jan 17, 2017 2:15am Jan 17, 2017 2:15am
how about GU, it's time to take short?
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  • #9,987
  • Jan 17, 2017 2:17am Jan 17, 2017 2:17am
Quoting Santoso777
{quote} yes.... i've waited many hours, because it strong uptrend, every hours is breakout bars.... and now breakout again.. so no trade. now go to rule #2, enjoy the trade...
not what i meant.
please read again. also post #1. the part that price has to close between H1 higher open and Daily high! ie. in that zone.
then cross from above the H1 higher open to have a valid entry.
something like this on your chart.
a lower TF has to close in that zone, to validate the setup.
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there is always, always another trade!!
  • #9,988
  • Jan 17, 2017 2:18am Jan 17, 2017 2:18am
Quoting Santoso777
how about GU, it's time to take short? {image}
the red candle before the current was a valid short entry.
please read post#1 for examples.
there is always, always another trade!!
  • #9,989
  • Jan 17, 2017 2:21am Jan 17, 2017 2:21am
SL HIT IN LONG EURJPY.....
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  • #9,990
  • Jan 17, 2017 2:40am Jan 17, 2017 2:40am
Quoting Kammgcni
SL HIT IN LONG EURJPY.....Screenshot1.png;2143029 {image}
for me, it's better to stay away when warning H1 low breakout..... and wait another hours...
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  • #9,991
  • Jan 17, 2017 2:52am Jan 17, 2017 2:52am
Long Lead at 151.35 with sl at Day low....earned huge profit....Am i doing right according to system?


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  • #9,992
  • Jan 17, 2017 2:59am Jan 17, 2017 2:59am
Quoting Kammgcni
Long Lead at 151.35 with sl at Day low....earned huge profit....Am i doing right according to system? Screenshot1.png;2143103 {image}
why PD ( previous day) H1 lower open on the chart?
what post #1 says about previous day H1 lower open?
what post #1 says about current day H1 lower open?
which one the example charts use for entry decision?
there is always, always another trade!!
  • #9,993
  • Jan 17, 2017 3:09am Jan 17, 2017 3:09am
Quoting profitfarmer
{quote} why PD ( previous day) H1 lower open on the chart? what post #1 says about previous day H1 lower open? what post #1 says about current day H1 lower open? which one the example charts use for entry decision?

Sir, it means we have to consider only today's H1 low or high for making trading decision.
  • #9,994
  • Jan 17, 2017 3:09am Jan 17, 2017 3:09am
Quoting Kammgcni
SL HIT IN LONG EURJPY.....Screenshot1.png;2143029 {image}
So will you pay attention to rule #1 next time?
  • #9,995
  • Jan 17, 2017 3:13am Jan 17, 2017 3:13am
Quoting Kammgcni
{quote} Sir, it means we have to consider only today's H1 low or high for making trading decision.
when you drive, do you base your decision on what color the traffic light was yesterday or what color it is today when cross an intersection?
i would think today's data ( the right now) has lot more weight.
there is always, always another trade!!
  • #9,996
  • Jan 17, 2017 3:22am Jan 17, 2017 3:22am
Guys, guys, guys...

First off, it's cool to see new blood here and welcome to the thread. However, there are far, far too many questions being asked that are completely covered by, guess what, reading Post #1 and or have been answered many, many times throughout the thread (including very recently by myself).

I have tried to be helpful if it's an obvious language issue only stopping understanding but that's not the case at the moment. You are even ignoring blatant warnings on your charts and then wondering why it's not working. Basic breakdowns of the method are happening because the time has not been taken to , yes, read Post #1.

It is obvious which traders have read but perhaps still need clarification and those who are simply looking to be spoon-fed. Well, all that is going to do is get profitfarmer into bother with TooSlow, as he is now trying to be helpful as well and I can hear the steam beginning to escape from TooSlow's ears as the pressure builds. Do you really want to be responsible for any grief coming?

Come on guys, take responsibility for your own trading. ''Did I do this right?'' ''Did I do that right?'' Well, you're adults, go back through your process, check your rules checklist and answer your own question.

No spoon-feeding here.
  • #9,997
  • Jan 17, 2017 3:28am Jan 17, 2017 3:28am
Sir, in very first image PD higher open is seeing on chart. I am only following that template only. As a new trader in this thread, we are seeking guidance from experienced traders like you all. Please guide us.
  • #9,998
  • Jan 17, 2017 3:43am Jan 17, 2017 3:43am
Another win. AUDJPY.

Earlern
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  • #9,999
  • Jan 17, 2017 4:08am Jan 17, 2017 4:08am
Quoting lemercenaire
Guys, guys, guys... First off, it's cool to see new blood here and welcome to the thread. However, there are far, far too many questions being asked that are completely covered by, guess what, reading Post #1 and or have been answered many, many times throughout the thread (including very recently by myself). I have tried to be helpful if it's an obvious language issue only stopping understanding but that's not the case at the moment. You are even ignoring blatant warnings on your charts and then wondering why it's not working. Basic breakdowns...
The visual explanation from MichaelG is much better to understand this systems.... but the process to be profitable is not enough with this, many aspect (psychology, MM, news, etc) should be learned.... still thanks to lem for being patient with new member
  • #10,000
  • Jan 17, 2017 4:29am Jan 17, 2017 4:29am
I'm sure it is a question with a very obvious answer but could anyone please explain what criteria it takes for the smHiLo indicator to indicate a 'Breakout'?
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