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Higher low, lower high system

  • #101
  • Sep 26, 2008 8:40am Sep 26, 2008 8:40am
Quoting daytrading
Thank you Vantage for a good conversation.

All the best for your trading.

Have a great weekend.

regards
daytrading
Thanks daytrading.

I had the jpy up for a sell, had a big candle down for the lh and never broke through that candles low.

Eur had the exact same set up as jpy although the wave of the lower high was nowhere near as nice as jpy's. Eur broke the low of the big candle and M2 for a sell. Had a 40 pip run down, if I had taken eur option instead of jpy I'd be happy to grab anything up from 20 pips.

This certainly isn't the first trade I've missed because I've set up on a different currency and it certainly won't be the last.

Cheers to everyone thats popped in here, all in all a good week.

If I don't pop back after news in 20 mins have a good weekend and hope to chat and trade next week.
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  • #102
  • Sep 26, 2008 9:05am Sep 26, 2008 9:05am
thank you vantage.
How do u think about create a room in tradingrooms next week?
  • #103
  • Sep 26, 2008 9:11am Sep 26, 2008 9:11am
Quoting neshat
thank you vantage.
How do u think about create a room in tradingrooms next week?
Sent you a pm.
  • #104
  • Sep 29, 2008 12:00am Sep 29, 2008 12:00am
Someone asked me if Asian session has trades. These 2 lh's certainly worked nicely.

I'm sleeping this time so obviously not ones I took.
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Click to Enlarge Name: jpy.gif Size: 12 KB
  • #105
  • Sep 29, 2008 1:50am Sep 29, 2008 1:50am
Hallo Vantage , nice thread , thank you

I was expecting "buy" acc. 1h-chart but GBP and EUR have make "sell". By EUR we have a lower close on 1h-chart. Would you try in this case to sell?

Or you concentrate on JPY?
  • #106
  • Sep 29, 2008 2:04am Sep 29, 2008 2:04am
Quoting Happy68
Hallo Vantage , nice thread , thank you

I was expecting "buy" acc. 1h-chart but GBP and EUR have make "sell". By EUR we have a lower close on 1h-chart. Would you try in this case to sell?

Or you concentrate on JPY?
Jpy was negative all morning so that was perhaps the best set up this morning. It just looked better than eur and gbp that were showing hammers after moving sideways for hours on 1 hr charts.

I'll concerntrate on whichever looks the best set up.

Eur and jpy had perfect lh waves down, gbp candle was way too big.

I then tried jpy re-entry off 1 min but that couldn't break through got out just above BE.
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Click to Enlarge Name: eur 5 min.gif Size: 9 KB
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  • #107
  • Sep 29, 2008 2:12am Sep 29, 2008 2:12am
Thank you, Vantage

and one more question - what is the second orange dotted line on your EUR chart? The fitsr is the open may be, but the second? Are these lines with the "Pivots"-indicator, or you make them? Because I don't have them.
  • #108
  • Sep 29, 2008 2:22am Sep 29, 2008 2:22am
Quoting Happy68
Thank you, Vantage

and one more question - what is the second orange dotted line on your EUR chart? The fitsr is the open may be, but the second? Are these lines with the "Pivots"-indicator, or you make them? Because I don't have them.
The orange lines are the previous days highs/lows and the open for today. Go into the pivots indicator and just put yes for showhigh, low, open.
  • #109
  • Sep 29, 2008 2:25am Sep 29, 2008 2:25am
Jpy didn't want to go higher neither did others. I just happened to pick jpy but it was a coin toss. I exited bang on 152.50 and S2 when it hit.
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  • #110
  • Sep 29, 2008 2:58am Sep 29, 2008 2:58am
Missed this jpy trade. Had the euro up which showed exactly the same 5 min lh.

If I was in I would have exited any bounce from 152. Just showing as another example.
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  • #111
  • Sep 29, 2008 3:12am Sep 29, 2008 3:12am
Jpy lh, nice set up had it ready to trade. Next 5 min opened higher didn't confirm (never went below previous 5 min's close) so no trade - yet.
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  • #112
  • Sep 29, 2008 3:36am Sep 29, 2008 3:36am
After some massive falls today perhaps the lines in the sand have been drawn for these 3 currencies. I'll probably just wait to see what this hours closing candle brings.
  • #113
  • Sep 29, 2008 3:41am Sep 29, 2008 3:41am
Quoting Vantage
After some massive falls today perhaps the lines in the sand have been drawn for these 3 currencies. I'll probably just wait to see what this hours closing candle brings.
Yes, EUR have 300p, GBP - 400p and JPY - 300p. It is time for correction, may be, ofcourse
  • #114
  • Sep 29, 2008 4:05am Sep 29, 2008 4:05am
If jpy and eur move up from here we've got clear hl's, things look so weak I don't know how much I like them though.
  • #115
  • Sep 29, 2008 4:16am Sep 29, 2008 4:16am
OK I have to pop out so I'll be gone for an hour or so, a great morning again so we'll see what US session brings.
  • #116
  • Sep 29, 2008 6:04am Sep 29, 2008 6:04am
Jpy has had a hl - up arrow, immediately followed by a lh - down arrow. Whilst it could go any way from here you'd think that the overall weakness for the day plus the lh was the last so that would prevail. Got in sell whilst typing.
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  • #117
  • Sep 29, 2008 6:09am Sep 29, 2008 6:09am
I was looking for jpy to break below 152.34 area for entry. 152 is an obvious exit unless we fall right through.
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  • #118
  • Edited 6:21am Sep 29, 2008 6:18am | Edited 6:21am
I was hoping the fall in eur would drag jpy below 152, didn't like the push up so whilst it was probably a bad idea to exit after a good morning I'm OK to grab 10 pips from this one.
  • #119
  • Sep 29, 2008 6:25am Sep 29, 2008 6:25am
I'm quite happy to look for bigger trades (40 pips up) from UK session and as day and the trade goes along I'm happy to grab 10-20 pips when a trade has set up but doesn't work out as hoped. I wanted 152 to fail and target S3.

152 seems a problem now like 153.50 was Friday.
  • #120
  • Edited 7:15am Sep 29, 2008 7:05am | Edited 7:15am
Jpy is still on a lh on 5 min.

Eur and gbp after a spinning top on their hourly charts are now on potential hl's. Eur had to stay below 1.4367 and gbp below 1.8034 to stay on lh's. we could have buys setting up here.

The hl failed immediately and we seem to be on a lh again. This is getting too close to news in 15 mins so I doubt I'll be selling.
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