Thread: Highest Open / Lowest Open Trade

HIGHEST OPEN / LOWEST OPEN TRADE

Put a line in the Maximum H1 open and Cheapest H1 open for the current day.

Sell short in the maximum H1 open after price goes up through it and comes back down.

Buy at the bottom H1 open after price goes through it and comes back up.


Stop loss is the current daily high or current daily non.
Adjust your position size so.

Take profit by shing stop.
When trade is 5 or longer, move stop to BE 1.
When transaction is 10 or longer, move to to BE 5, or switch to trailing stop.
Optional exit would be to leave part of trade standing with a profit to bank it, move stop to BE 1 and watch the market.

NOTE:

Do not wait for the bar to shut to enter a trade.


WARNING

When price breaks through yesterday's low or high or leaves a new high or low now, that is a breakout!
Trade the change with caution.

To the NO voters in the survey. Please post the reason you think this is not straightforward. Thank you.


Perfection is not when you have nothing more to add, but if you have nothing more to take away. - Antoine De Saint Exupery

It is not about adding on, but taking away. The technique, the greater you are. - Bruce Lee


Please know none of this can be first or new and this can be presented for EDUCATIONAL PURPOSES ONLY. You might loe your results could differ. Before using real money, please check. FOREX trading can be risky. YOU HAVE BEEN WARNED!





ADDED MAY 20, 2016:

Allow Me to see if I can tackle areas of confusion.

First, read the rules.
Do not add anything to the principles.
Do not subtracted anything from the rules.
Do not modify the rules.
Read the rules.

The very first lineup: Place a lineup in the maximum H1 open and lowest H1 available for the current moment.
Current day means now in accore with your broker.
My broker begins a new day in 5PM NY time which means when it's 5PM, I have to move the traces.

The next lineup: Sell short in the maximum H1 open after price goes up through it and comes back down.
Price has to GO UP FIRST.
Price has to GO ABOVE the Maximum H1 open.
AFTER, price has climbed above the maximum H1 available, THEN AND ONLY THEN, do you input a short trade when price drops back down to the maximum H1 open.

The next line: Buy at the bottom H1 open after price goes through it and comes back up.
Price has to GO DOWN FIRST.
Price has to GO BELOW the lowest H1 open.
AFTER, price has dropped below the lowest H1 available, THEN AND ONLY THEN, do you enter into a long trade when price climbs back up to the lowest H1 open.

The hardest thing about this method is you need to WAIT.
For many traders, waiting does not come naturally.
Struggling to wait patiently, will in most cases, result in losses.
I suggest you literally sit in your hands as you wait to avoid entering a transaction too soon.

There's not any trick to this method.
No gimmicks.

Allow me to suggest at the close of the trading day that you post your marked up charts.
We can see just how many days price closes above the maximum H1 available and below the lowest H1 open.
Zero will imply that there would not have been a reduction when the principles were followed.

Many traders ask how I understand when the highest open and lowest open happen throughout the day since the following bar may make a new high/low.
I don't know.
No one understands.
What we understand, from the previous count, is the close is usually below the maximum H1 open and over the lowest H1 open.
This is our advantage.
This is what permits us to bank pips on a daily basis.


ADDED MAY 27, 2016:

This may help individuals who are trigger happy to wait patiently:

M15 bar must open below the lowest H1 available before you may enter.

M15 bar must open over the maximum H1 available before you may enter.

Price will probably soon be moving in your direction if you enter into the transaction.


ADDED FEBRUARY 6. 2017.

See connected HOLO PDF.


EXAMPLES:

https://www.forexforum.co.za/trading...ojections.html


Great visual explanation: https://www.forexforum.co.za/trading...nal-245-a.html



CHALLENGE

Trade 0.01 lots for 10 traders.
Follow the rules precisely.
Stick with the exact same pair for all 10 trades.
Post your results.
NOTE:

Do not wait for the bar to shut to enter a trade.



To get the latest indior and template file click on the attachment icon, paperclip, for this particular thread.

Please do not discuss or cite EAs in this thread.
EAs are not welcome here.

EAs divert from the method.
You have been warned.

If you want to post code in this thread post the MQ4 documents.
Posting only EX4 documents is not welcome.

You may wonder why.
EX4 files could contain something harmful.
MQ4 documents are compiled in your computer so that you may feel relatively secure.
When the coder disappears then the code can not be updated if/when it neglects and the code can not be improved or enhanced.
Who wants to be a the mercy of some hidden coder?


Newcomers to the ribbon, If You Would like a question answered subsequently copy/paste the following message if you ask your query:

I HAVE READ POST #1 AND THE EXAMPLE LINKS BUT I STILL HAVE A QUESTION
https://www.forexforum.co.za/attachm...3308919467.pdf

Hi Birdland, my chart does not seem anything like yours. . I am not great with pc stuffs. . T_T

Lem,

This is my current setting. I am using two different brokers and both doesn't work. What could be the issue?

Val

And that is what I get in my other broker's mt4. . T_T I can't find the price at all, cuz it overlaps. .

Do you trade the 1h candle that forms the highest available and hh of this day? For instance we have current candle amount 0. Open price of the candle is open of the day price goes up and makes new high and after 1,2,3. .5 minutes price goes under open. Will you open trade ?
Due

Originally Posted by ;

quote The -5, -10, -15 etc are all targets for the first entrance, not added entries. Templates and Indi are from the paperclip in the very top right of the webpage.

Thank you now I know thank you very much.

And thank you ToSlow with this particular system.

Originally Posted by ;

Could be a opportunity to get a quick long on AU.

Went into 1-2-3 property.

Could still be a chance after.

Originally Posted by ;

Are you currently using a indictor to draw out your support and resistance levels,? If so could you post a URL? Thank you ahead :]

It's not Support and resistance, they are Supply and Demand Zones. Not the same thing. Kind of like comparing a horse to a zebra.

You may find these articles interesting (and simply Googling for the info will bring more, such as YT vids):

www (dot) fsnappy.blogspot (dot) co (dot) uk/2012/06/supply-and-demand-vs-support-and.html

I would suggest reading this (or a similar info page) and then working on drawing and identifying your own zones first. That way you can understand what you're looking at.

Once you can do so, then you can speed up the procedure by using an indior.

Www (dot) dailyfx (ster) com/forex/eduion/trading_tips/daily_trading_lesson/2012/08/22/Supply_and_Demand.html

The one I use is one of the two greatest ones out there but using (very) slight customisation. If you search for an ?S D indior for mt4?, you may find what you're searching for - but I would seriously suggest that you do your legwork and enhance your knowledge-bank first. You won't regret it.

Trade alert.