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Highest Open / Lowest Open Trade

  • #11,381
  • May 26, 2017 3:16am May 26, 2017 3:16am
Quoting lemercenaire
{quote} Are you deliberately choosing not to show the newest H1 Low / High open? {image} It's has pretty good-looking set-up potential as well, for sure. Nice catch.
I was not deliberately NOT using the H1 Low/High open. In my notes it only says when a candle sets a new Daily High or Daily low and then the very next candle fails to make a new HH/LL and reverses.....then take trade when price either raises above or drops below the open price of previous candle that set the HH/LL. It never mentioned that I needed any Hourly Candles.

I hope that makes sense........I will go add those H1 lines right now. Thanks!!
  • #11,382
  • May 26, 2017 3:47am May 26, 2017 3:47am
Quoting bojack34
{quote} I was not deliberately NOT using the H1 Low/High open. In my notes it only says when a candle sets a new Daily High or Daily low and then the very next candle fails to make a new HH/LL and reverses.....then take trade when price either raises above or drops below the open price of previous candle that set the HH/LL. It never mentioned that I needed any Hourly Candles. I hope that makes sense........I will go add those H1 lines right now. Thanks!!
That sounds like a kind of mix of HOLO and 1-2-3 rules. Easy enough to do!

HOLO
Candle makes new highest H1 open.
15 min (or 5 min if you prefer) candle opens in area above that level.
Enter as price crosses back over that level.
(Caveat - not if the candle is a breakout candle)

1-2-3
Bar makes new H of day.
Next bar fails to make new H.
Enter as price crosses back over open of 2nd bar.

Opposites for Low set-ups obviously.
  • #11,383
  • May 26, 2017 4:43am May 26, 2017 4:43am
Quoting lemercenaire
{quote} That sounds like a kind of mix of HOLO and 1-2-3 rules. Easy enough to do! HOLO Candle makes new highest H1 open. 15 min (or 5 min if you prefer) candle opens in area above that level. Enter as price crosses back over that level. (Caveat - not if the candle is a breakout candle) 1-2-3 Bar makes new H of day. Next bar fails to make new H. Enter as price crosses back over open of 2nd bar. Opposites for Low set-ups obviously.

During the 1-2-3 setup what is important ? The high/low of the candles or the open/close price ?
Could you draw it please, Lemerce, I do not understand perfectly.

Thanks a lot !
  • #11,384
  • May 26, 2017 5:21am May 26, 2017 5:21am
Quoting gabesz65
{quote} During the 1-2-3 setup what is important ? The high/low of the candles or the open/close price ? Could you draw it please, Lemerce, I do not understand perfectly. Thanks a lot !
I'll do this here for you just now - but after this, head over to the 1-2-3 thread for info on 1-2-3. Cheers.

This trade has just happened...

Bar #1 makes a new daily High.
Bar #2 tries and fails to make a new Daily High.
Enter trade as price falls past the open of Bar #2 (yellow circle marked as #3).

Attached Image (click to enlarge)
Click to Enlarge Name: InkedEURUSDH1as1-2-3aseg26thMay17_LI.jpg Size: 269 KB


As simple as 1-2-3.
  • #11,385
  • May 26, 2017 5:35am May 26, 2017 5:35am
Quoting lemercenaire
{quote} I'll do this here for you just now - but after this, head over to the 1-2-3 thread for info on 1-2-3. Cheers. This trade has just happened... Bar #1 makes a new daily High. Bar #2 tries and fails to make a new Daily High. Enter trade as price falls past the open of Bar #2 (yellow circle marked as #3). {image} As simple as 1-2-3.

Thank you very much !
  • #11,386
  • May 26, 2017 7:32am May 26, 2017 7:32am
Quoting gabesz65
{quote} Thank you very much !
No worries - a picture is worth a thousand words!
  • #11,387
  • May 26, 2017 7:50am May 26, 2017 7:50am
Let's make some money for today.....
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY_H1_05_26_2017.png Size: 49 KB
  • #11,388
  • May 26, 2017 7:51am May 26, 2017 7:51am
Quoting lemercenaire
{quote} No worries - a picture is worth a thousand words!

That's right !
  • #11,389
  • May 26, 2017 8:04am May 26, 2017 8:04am
Quoting lemercenaire
{quote} Are you deliberately choosing not to show the newest H1 Low / High open? {image} It's has pretty good-looking set-up potential as well, for sure. Nice catch.
Too bad you could only get an entry by going down to the M1 tf, as this did end up a beaut.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1as1-2-3orHOLO26thMay17entryonlyasM1.png Size: 33 KB


EDIT: Sorry, I'm talking guff - I took it as a 1-2-3 and missed the later entries that came on m15 and m5. Hope someone got in on it.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15talkingguff-entriescamelater26thMay17.png Size: 29 KB
  • #11,390
  • May 26, 2017 8:31am May 26, 2017 8:31am
Quoting lemercenaire
{quote} Too bad you could only get an entry by going down to the M1 tf, as this did end up a beaut. {image} EDIT: Sorry, I'm talking guff - I took it as a 1-2-3 and missed the later entries that came on m15 and m5. Hope someone got in on it. {image}

Nice !
  • #11,391
  • May 26, 2017 8:33am May 26, 2017 8:33am
Continuous working on making some money :-)
Attached Image (click to enlarge)
Click to Enlarge Name: EURCHF_H1_05_26_2017.png Size: 49 KB
  • #11,392
  • May 26, 2017 10:08am May 26, 2017 10:08am
Quoting gabesz65
Continuous working on making some money :-) {image}

Well done. +20 pip profit booked :-)
Attached Image (click to enlarge)
Click to Enlarge Name: EURCHF_H1_05_26_2017_Finish.png Size: 50 KB
  • #11,393
  • May 26, 2017 10:12am May 26, 2017 10:12am
Quoting gabesz65
{quote} Well done. +20 pip profit booked :-) {image}

This is a very good live example for Abade question about using trailing.
If I had used that technique, the previous candle would have killed my position.

Ciao : G.
  • #11,394
  • May 26, 2017 11:19am May 26, 2017 11:19am
Attached Image (click to enlarge)
Click to Enlarge Name: TooSlow2.png Size: 55 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,395
  • May 26, 2017 12:06pm May 26, 2017 12:06pm
No comment, just profit :-)

Thank you TooSlow, MichaelG, Lemerc for guiding !
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD_H1_05_26_2017.png Size: 50 KB
  • #11,396
  • May 26, 2017 12:38pm May 26, 2017 12:38pm
Quoting gabesz65
No comment, just profit :-) Thank you TooSlow, MichaelG, Lemerc for guiding ! {image}
You're welcome. Are you trading 1-2-3 or HOLO?!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #11,397
  • May 26, 2017 12:47pm May 26, 2017 12:47pm
Quoting TooSlow
{quote} You're welcome. Are you trading 1-2-3 or HOLO?!

I think I'm trading based on the HoLo strategy, but I'm not sure.
Could you explain to me the difference between them, please....
  • #11,398
  • May 26, 2017 1:21pm May 26, 2017 1:21pm
Trade Set up on NZD JPY ????

Attached Image (click to enlarge)
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  • #11,399
  • May 26, 2017 1:36pm May 26, 2017 1:36pm
Quoting bojack34
Trade Set up on NZD JPY ???? {image}

If I want to trade it, I would place the sell stop here :

78.590 H1[0] open
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYH1.png Size: 45 KB
  • #11,400
  • May 26, 2017 1:42pm May 26, 2017 1:42pm
Quoting gabesz65
{quote} If I want to trade it, I would place the sell stop here : 78.590 H1[0] open {image}
I only placed it where i did to ensure the candle had a little bit of momentum. I wasn't aware of the exact rules. I knew it was somewhere around the Open of the previous candle. Thanks for all the help! Everyone on this thread has been very helpful!
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