HOLO - Highest Open / Lowest Open Trade

[LeMercenaire]

A nice play from today on the 500 (S&P).

I didn't get in on this as I simply didn't see it, having played The DAX all day until it came time to set up for The 500-Flip.

Overview.

S&P500H1asHOLO-Overview22ndMay18.png (28.94 KiB) Viewed 2369 times

S&P500M5asHOLOentryCU22ndMay18.png (39.01 KiB) Viewed 2369 times

A bit of a wider view in case it makes things a little clearer.

S&P500M5asHOLOentryWide22ndMay18.png (45.58 KiB) Viewed 2369 times

I haven't marked any of these up as I can't be a***d with croppin the things till there's no picture left.

Any questions, put on a postcard and send to the usual address

[brettm22]

A nice play from today on the 500 (S&P).

I didn't get in on this as I simply didn't see it, having played The DAX all day until it came time to set up for The 55-Flip.

Overview.
S&P500H1asHOLO-Overview22ndMay18.png

S&P500M5asHOLOentryCU22ndMay18.png

A bit of a wider view in case it makes things a little clearer.
S&P500M5asHOLOentryWide22ndMay18.png

I haven't marked any of these up as I can't be a***d with croppin the things till there's no picture left.

Any questions, put on a postcard and send to the usual address

Nice, post card in the mail...LOL

[LeMercenaire]

Ok, as I run through these charts, you can now see that we got a beautiful 1-2-3 out of it as well.

Bar #1 makes new High.
Bar #2 tests and fails to make a new High.
Entry as price drops back across Bar #2's Open Level (red circle).

S&P500H1asa1-2-3later22ndMay18.png (25.44 KiB) Viewed 2362 times

Now. Something to make note of...

That red-circled entry is not quite a new H1 Higher Open, so a true HOLO entry is still based off of the previous set-up off of the H1 Open that is the highest, the one posted above previously.

However, if I was in this 1-2-3 trade and had taken my profit (using whatever mm I'm using) on the first big push down, then I would not hesitate to re-enter as price kicked back all the way to the entry level and down again.

You're taking additional risk and it's not set in the method but it is an option for those so inclined.

[brettnchrism]

Ok, as I run through these charts, you can now see that we got a beautiful 1-2-3 out of it as well.

Bar #1 makes new High.
Bar #2 tests and fails to make a new High.
Entry as price drops back across Bar #2's Open Level (red circle).

S&P500H1asa1-2-3later22ndMay18.png

Now. Something to make note of...

That red-circled entry is not quite a new H1 Higher Open, so a true HOLO entry is still based off of the previous set-up off of the H1 Open that is the highest, the one posted above previously.

However, if I was in this 1-2-3 trade and had taken my profit (using whatever mm I'm using) on the first big push down, then I would not hesitate to re-enter as price kicked back all the way to the entry level and down again.

You're taking additional risk and it's not set in the method but it is an option for those so inclined.

Nice example, I’m finding in currencies they test the wick two times before moving away. Today UJ went down twice then up, had a z line trade on Eu did the same thing.

[LeMercenaire]

Ok, as I run through these charts, you can now see that we got a beautiful 1-2-3 out of it as well.

Bar #1 makes new High.
Bar #2 tests and fails to make a new High.
Entry as price drops back across Bar #2's Open Level (red circle).

S&P500H1asa1-2-3later22ndMay18.png

Now. Something to make note of...

That red-circled entry is not quite a new H1 Higher Open, so a true HOLO entry is still based off of the previous set-up off of the H1 Open that is the highest, the one posted above previously.

However, if I was in this 1-2-3 trade and had taken my profit (using whatever mm I'm using) on the first big push down, then I would not hesitate to re-enter as price kicked back all the way to the entry level and down again.

You're taking additional risk and it's not set in the method but it is an option for those so inclined.

Nice example, I’m finding in currencies they test the wick two times before moving away. Today UJ went down twice then up, had a z line trade on Eu did the same thing.

Good catch.

The indices tend to be more direct. Once they decide to go, they really go (except apparently the 500, which is like the kid who always gets left behind on school trips 'coz he's wandered off somewhere).

[brettnchrism]

Wow looks like no holo trades today all pairs seem to have made a run last night.

[brettnchrism]

uchf 1-2-3 set up was not in yesterdays range but hour look nice for a long

[brettnchrism]

last trade for the day ucad short out of old supply area 1-2-3

[LeMercenaire]

Posted the H4 lead-in to this over on Daily Forex Trading and I let the 1-2-3 go but took the HOLO.

This was the lead-in...

USDCADH4andthefibs23rdmay18.png (41.91 KiB) Viewed 2486 times

H1 overview of the trade...

USDCADH1asHOLOoverview-didnttake1-2-3May23rd18.png (36.68 KiB) Viewed 2486 times

The HOLO entry - the move I took was the move back down in the centre of the chart. Leaving it longer gave me the backing of the Supply Zones...

USDCADM5tookastheHOLOlet1-2-3go23rdMay18clearerview.png (43.38 KiB) Viewed 2486 times

[brettnchrism]

Posted the H4 lead-in to this over on Daily Forex Trading and I let the 1-2-3 go but took the HOLO.

This was the lead-in...

USDCADH4andthefibs23rdmay18.png

H1 overview of the trade...

USDCADH1asHOLOoverview-didnttake1-2-3May23rd18.png

The HOLO entry - the move I took was the move back down in the centre of the chart. Leaving it longer gave me the backing of the Supply Zones...

USDCADM5tookastheHOLOlet1-2-3go23rdMay18clearerview.png

Nice trade off M5...what draws those supply and demand zones an ea or are you putting them in by hand?