OK.
Here's the things in ''Rule'' form:
HOLO first as it's a HOLO thread, after all...
For Short entry -
1: Wait for a new H1 Higher Open. This level is the Entry Level.
2: The area between this Open Level and the High (wherever it is) is called ''The Area of Interest''.
3: Wait for an m15 or m5 candle to open in this area.
4: Enter as price breaks the Entry Level (here this is a Short trade).
5: You can enter on any qualifying bar now until a new Higher H1 Open is formed. That Area of Interest remains valid.
Now 1-2-3...
For Short entry -
1: Did H1 bar (#1) make a new High?
If yes...
2: Did next H1 bar (#2) test but not make a new High?
If yes...
3: Enter as price crosses back down over the level of the Open of bar #2.
HOLO - Highest Open / Lowest Open Trade
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- LeMercenaire
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Re: HOLO - Highest Open / Lowest Open Trade
LeMercenaire wrote:achooblessyou wrote:brettnchrism wrote:
Ok Im a little slow as I get older . In this picture is a 1-2-3 set up. What I see is a new higher high but hour candle close lower than previous high. Enter on close of the now red candle or where your red circle is? And 9 candles back I see the same entry set up? With a HOLO price has to close between the highest close and the highest high then come through the highest close without making a new high?
So a 123 happens when the bar makes a NEW HIGH, but not necessarily a new highest open. You would trade the OPEN of the next hour bar as long as it tests the high before it falls.
A HOLO trade is when a bar has made a new highest H1 OPEN but NOT a new high. Wait for a 5 minute close between the daily extreme and the highest open and trade back across the Open.
Thanks for that. I just couldn't get back on last night to answer.
Once things are done-and-dusted today and I have a mo, I will bang on a quick summary of the rules to both 1-2-3 and HOLO.
Ok thanks that was a great explination. Make total since now. I guess the HOLO would create a wick zone to trade away from. Appriciate your help.
Your friend Brett
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Re: HOLO - Highest Open / Lowest Open Trade
brettnchrism wrote:LeMercenaire wrote:achooblessyou wrote:So a 123 happens when the bar makes a NEW HIGH, but not necessarily a new highest open. You would trade the OPEN of the next hour bar as long as it tests the high before it falls.
A HOLO trade is when a bar has made a new highest H1 OPEN but NOT a new high. Wait for a 5 minute close between the daily extreme and the highest open and trade back across the Open.
Thanks for that. I just couldn't get back on last night to answer.
Once things are done-and-dusted today and I have a mo, I will bang on a quick summary of the rules to both 1-2-3 and HOLO.
Ok thanks that was a great explination. Make total since now. I guess the HOLO would create a wick zone to trade away from. Appriciate your help.
HOLO, 1-2-3, RAT, Wick-Zone...all shared DNA.
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Re: HOLO - Highest Open / Lowest Open Trade
Thanks to Lem for the clear explination of the HOLO and 123 trade. Grabbed 2% +15 pips on this UJ 123 trade...
Your friend Brett
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Re: HOLO - Highest Open / Lowest Open Trade
brettnchrism wrote:
Thanks to Lem for the clear explination of the HOLO and 123 trade. Grabbed 2% +15 pips on this UJ 123 trade...
UJ is particularly good for 1-2-3 and HOLO, one often leading into another.
UC also.
Tops-and-Tails the day consistently.
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Re: HOLO - Highest Open / Lowest Open Trade
brettnchrism wrote:
Thanks to Lem for the clear explination of the HOLO and 123 trade. Grabbed 2% +15 pips on this UJ 123 trade...
Not to sound like a plopper but I think bar #2 made a new low, so this trade would not be considered a 123 trade
From Master Lem's rulebook:
2: Did next H1 bar (#2) test but not make a new High?
Or I could just reading your chart all wrong. In any regards, good trade
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Re: HOLO - Highest Open / Lowest Open Trade
Leoheart wrote:brettnchrism wrote:
Thanks to Lem for the clear explination of the HOLO and 123 trade. Grabbed 2% +15 pips on this UJ 123 trade...
Not to sound like a plopper but I think bar #2 made a new low, so this trade would not be considered a 123 trade
From Master Lem's rulebook:
2: Did next H1 bar (#2) test but not make a new High?
Or I could just reading your chart all wrong. In any regards, good trade
Yes I was in on the bar to the left it tested twice I got in on first one, but had a stop 2 pips below the low so I road it out and held. Think it made maybe one pip lower before shooting up at NY open.
Good eye. Thanks
Your friend Brett
Re: HOLO - Highest Open / Lowest Open Trade
Im confused also,
Does the highest open have to be a red candle or can it be either a red or green candle... and its just the highest open for that day?
S
Does the highest open have to be a red candle or can it be either a red or green candle... and its just the highest open for that day?
S
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Re: HOLO - Highest Open / Lowest Open Trade
Leoheart wrote:brettnchrism wrote:
Thanks to Lem for the clear explination of the HOLO and 123 trade. Grabbed 2% +15 pips on this UJ 123 trade...
Not to sound like a plopper but I think bar #2 made a new low, so this trade would not be considered a 123 trade
From Master Lem's rulebook:
2: Did next H1 bar (#2) test but not make a new High?
Or I could just reading your chart all wrong. In any regards, good trade
I see there is an answer below but on top of that I would say that this is why it is not always easy to see it all by back-checking. It is quite possible to be in a trade with a legit entry and then for price to reverse for a while, even going on to make a new extreme (in this case a new Low, albeit by a single pip) but not taking out any hard stop, before turning again and getting us back in the game.
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Re: HOLO - Highest Open / Lowest Open Trade
Sandra wrote:Im confused also,
Does the highest open have to be a red candle or can it be either a red or green candle... and its just the highest open for that day?
S
You're overthinking it.
Just read the rule description. Is there any mention of it needing to be a red or green higher open?
First bar makes new extreme.
Second bar tries and fails to make a new extreme.
Enter as price crosses back over the open level of the second bar.
That's it. Everything you need is there.
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