All,
I've started this thread to hopefully spark some really interesting debate, please feel free to contribute!
I've been around these forums for many years, tried several systems and ideas, and not really got anywhere. They all seem great initially, but then after a while, things don't pan out as expected and information overload prevails.
Now I think I have discovered something extremely interesting, and something which I think can be applied to bring success to my trading.
Firstly I have noticed how more often than not, if there is a large range bar, sooner or later the open of that bar will be retested. Price may fall 200 pips, but from my observations, generally price will turn back and retrace all the way back to where that bar opened.
Taking it one step further, I've also noticed that it seems, ALL candle opens will be retested at some point in the future, often by the proceeding candle or within a few candles. What I've then noticed is that if an open is not retested within a few candles, at some point in the future, price will turn and it will be touched.
I've been examining the 30 min E/U chart and this observation appears interesting.
I sincerely hope that this thread creates some interesting debate and we can understand why this happens, and how best we can exploit it.
I've attached my current E/U chart with green horizontal lines marking the opens that were/are untested.
I've started this thread to hopefully spark some really interesting debate, please feel free to contribute!
I've been around these forums for many years, tried several systems and ideas, and not really got anywhere. They all seem great initially, but then after a while, things don't pan out as expected and information overload prevails.
Now I think I have discovered something extremely interesting, and something which I think can be applied to bring success to my trading.
Firstly I have noticed how more often than not, if there is a large range bar, sooner or later the open of that bar will be retested. Price may fall 200 pips, but from my observations, generally price will turn back and retrace all the way back to where that bar opened.
Taking it one step further, I've also noticed that it seems, ALL candle opens will be retested at some point in the future, often by the proceeding candle or within a few candles. What I've then noticed is that if an open is not retested within a few candles, at some point in the future, price will turn and it will be touched.
I've been examining the 30 min E/U chart and this observation appears interesting.
I sincerely hope that this thread creates some interesting debate and we can understand why this happens, and how best we can exploit it.
I've attached my current E/U chart with green horizontal lines marking the opens that were/are untested.