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Trading is as simple as 1-2-3

  • #2,801
  • Mar 27, 2017 10:12am Mar 27, 2017 10:12am
Quoting Panisko
Hello , I need your help , because I reading and reading and still don't know when entry. You are upload a lot of charts but I don't see entry /close /sl. So I upload screen from TooSlow and please help to understand this visual. I pointed candle 1 is this too point 1 " new daily high"? I pointed candle 2 is this too point 2 " test the high bar"? And entry below open candle 2 ? Or candle too 2 it's new dail high and entry below this candle? {image}
At the moment that chart was printed, the candle you have marked as 2 is the new high.
Wait until the next candle opens.
If it fails to make a new high, enter as price crosses the open level of the live candle, in the direction away from the high, so you will be going short in this example.

SL and TP are personal and depend on your attitude to risk and personal trade management preferences. At the base level, SL is a couple of pips above the last high or swing high. TP is whatever you want it to be. Mine and Hal's tp / trade-management techniques have been well covered in this thread.
  • #2,802
  • Mar 27, 2017 10:18am Mar 27, 2017 10:18am
Quoting lemercenaire
{quote} At the moment that chart was printed, the candle you have marked as 2 is the new high. Wait until the next candle opens. If it fails to make a new high, enter as price crosses the open level of the live candle, in the direction away from the high, so you will be going short in this example. SL and TP are personal and depend on your attitude to risk and personal trade management preferences. At the base level, SL is a couple of pips above the last high or swing high. TP is whatever you want it to be. Mine and Hal's tp / trade-management techniques...

Hmm so when candle close with daily high I entry on the next candle below open daily high candle open ?

Or Daily high candle close, second candle close and dont break high and now entry below second candle close ? Like : 1,2,3 1 Daily high 2 dont break Daily high 3 entry below second open ?
"The essence of Discipline is that there are no exceptions" - Jack Schwager
  • #2,803
  • Mar 27, 2017 10:27am Mar 27, 2017 10:27am
Hi Panisko. Lem has given an good explanation (as he always does ). I was in the middle of making a few notes for you on a GBP/USD chart from an hour or so ago:
Attached Image (click to enlarge)
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  • #2,804
  • Mar 27, 2017 10:51am Mar 27, 2017 10:51am
Quoting Pent56
Hi Panisko. Lem has given an good explanation (as he always does ). I was in the middle of making a few notes for you on a GBP/USD chart from an hour or so ago: {image}
Thank you very much !

Hmm so where is diffrence with HOLO method ? It's very simmilar.
"The essence of Discipline is that there are no exceptions" - Jack Schwager
  • #2,805
  • Mar 27, 2017 4:10pm Mar 27, 2017 4:10pm
Quoting Panisko
{quote} Thank you very much ! Hmm so where is diffrence with HOLO method ? It's very simmilar.
One is a horse, the other a zebra
  • #2,806
  • Mar 27, 2017 4:14pm Mar 27, 2017 4:14pm
Quoting lemercenaire
{quote} Came good... {image}
Just kept on giving all day...

Attached Image (click to enlarge)
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  • #2,807
  • Mar 27, 2017 8:21pm Mar 27, 2017 8:21pm
Quoting lemercenaire
{quote} One is a horse, the other a zebra
We just don't trade the Jackass...
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #2,808
  • Mar 27, 2017 9:58pm Mar 27, 2017 9:58pm
Quoting Panisko
{quote} Thank you very much ! Hmm so where is diffrence with HOLO method ? It's very simmilar.
1-2-3 the previous bar must have created a new daily high or daily low.

HOLO the previous H1 bar must have created the highest H1 open or the lowest H1 open for the day
OR
A price bar ( M5, M15, M30) must have opened above the highest H1 open or opened below the lowest H1 open for the day.

Sometimes a HOLO is also a 1-2-3.

Sometimes a 1-2-3 is also a HOLO .
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #2,809
  • Mar 28, 2017 12:53am Mar 28, 2017 12:53am
Quoting TooSlow
{quote} 1-2-3 the previous bar must have created a new daily high or daily low. HOLO the previous H1 bar must have created the highest H1 open or the lowest H1 open for the day OR A price bar ( M5, M15, M30) must have opened above the highest H1 open or opened below the lowest H1 open for the day. Sometimes a HOLO is also a 1-2-3. Sometimes a 1-2-3 is also a HOLO .
Thank you very much !!! Let's back to trading )
"The essence of Discipline is that there are no exceptions" - Jack Schwager
  • #2,810
  • Mar 28, 2017 1:53am Mar 28, 2017 1:53am
Two for the early birds out there to kick off the day. GU looks to have stalled, at least for now but UJ is rolling along nicely...

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  • #2,811
  • Mar 28, 2017 2:16am Mar 28, 2017 2:16am
DAX finally coming to an end? It's been a hell of a ride, lol...

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  • #2,812
  • Mar 28, 2017 2:19am Mar 28, 2017 2:19am
The FTSE gives us a good example of how these markets often gap, with the entry coming instead at the level of the previous (set-up) bar's close...

Attached Image (click to enlarge)
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  • #2,813
  • Mar 28, 2017 2:22am Mar 28, 2017 2:22am
Not in on this as it's essentially the end of yesterday's all-day run and there's only so many you can catch in one go, lol...

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  • #2,814
  • Mar 28, 2017 2:24am Mar 28, 2017 2:24am
A shadow of the 500 but it's still an option to watch through the day...

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  • #2,815
  • Mar 28, 2017 4:29am Mar 28, 2017 4:29am
Attached Image (click to enlarge)
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Managed to pry +5 from this EG in a sluggish market this morning with lack of news events.
  • #2,816
  • Mar 28, 2017 4:51am Mar 28, 2017 4:51am
Attached Image (click to enlarge)
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The EG got a little less sluggish
  • #2,817
  • Mar 28, 2017 4:59am Mar 28, 2017 4:59am
Quoting hal7
.. The EG got a little less sluggish
Yes was in the same trade....twiddling my thumbs but took off nicely. Also bagged +5 before letting rest run.
Same boat in GBY/JPY - took a while but then took off:
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  • #2,818
  • Mar 28, 2017 5:52am Mar 28, 2017 5:52am
Quoting Pent56
{quote} Yes was in the same trade....twiddling my thumbs but took off nicely. Also bagged +5 before letting rest run. Same boat in GBY/JPY - took a while but then took off: {image}
Nice catch on the GJ. Looks like there are pips if one is patient enough and then moves on it.
  • #2,819
  • Mar 28, 2017 10:11am Mar 28, 2017 10:11am
Quoting lemercenaire
DAX finally coming to an end? It's been a hell of a ride, lol... {image}
Incredibly, the Dax is still trucking. You could have taken profit / countered and protected yourself against a possible full reversal at the second marked entry (which would be short, obviously)...

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  • #2,820
  • Mar 28, 2017 10:17am Mar 28, 2017 10:17am
Quoting lemercenaire
The FTSE gives us a good example of how these markets often gap, with the entry coming instead at the level of the previous (set-up) bar's close... {image}
How the FTSE ended up for me...
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How it looks now. You could of had a reversal entry on the turn back up and been in la-la land.
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We also obviously have another reversal possibility for a turn back down setting up.
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