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Higher low, lower high system

  • #141
  • Edited 1:44am Oct 2, 2008 12:51am | Edited 1:44am
I've had some pm's to give examples of Asian session lh's, hl's. Jpy seemed about the best. The even number was a good target for around 50 pips.

There was another lh but price never went below the candles low so no trade.
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  • #142
  • Oct 2, 2008 1:37am Oct 2, 2008 1:37am
Quoting Vantage
...but price never went below the candles low so no trade.
Hi Van,

If I understand you right, you'd enter at one tick below the wick of the signal candle.

Is that for every signal candle, or just on the bigger ones?

Cheers,

VBro

PS - thanks for taking the time to sample the Asian trades, it's helpful to see what you're seeing.
  • #143
  • Edited 2:52am Oct 2, 2008 1:49am | Edited 2:52am
Quoting vbro
Hi Van,

If I understand you right, you'd enter at one tick below the wick of the signal candle.

Is that for every signal candle, or just on the bigger ones?

Cheers,

VBro

PS - thanks for taking the time to sample the Asian trades, it's helpful to see what you're seeing.
Its pretty much all trades. Price must just go lower, I said 1 tick but I'm not glued to the screen to say OK thats 1 tick I'm in.

The 1 min chart can at times show a hl/lh within the 5 min candle and I'll also look at that. More often than not though its the wait for price to break beyond the set up 5 min candle.
  • #144
  • Edited 2:53am Oct 2, 2008 1:55am | Edited 2:53am
Quoting Vantage
The 1 min chart can at times shown a hl/lh within the 5 min candle and I'll also look at that.
Have a look right now at eur, if we stay below 1.3963 we are still on lh. 1 min has lh with a break on ema. I'm not in yet but its a current example of what I meant. In this case the 1 min confirmed the 5 min lh by having a lh of its own.
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  • #145
  • Edited 2:20am Oct 2, 2008 1:58am | Edited 2:20am
Sold eur.

Its gone to sleep a little out at +13. Can someone poke me with a sharp stick please! Hit 1.39 for another 28 pips and looks like it still going.
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  • #146
  • Oct 2, 2008 2:32am Oct 2, 2008 2:32am
Re-entry 1 min after the 5 candle hesitation.

Out at +33. There'll be a lot of volatility here with the low from 9 Sep.
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  • #147
  • Oct 2, 2008 3:09am Oct 2, 2008 3:09am
Great trade Vantage.

I was up and in position but just didn't pull the trigger. Nothing like the feeling of watching the train go by and never getting on. After the fact kind of makes you feel stranded.

Now that we've has a pull back on the 5 min EUR would you be looking to re-enter on the next break of the cancle that closes below the 5 ema?

Are you looking to stay out since its already moved so far and is so close to the Sept 11th low?
  • #148
  • Oct 2, 2008 3:20am Oct 2, 2008 3:20am
Quoting nutmg12
Great trade Vantage.

I was up and in position but just didn't pull the trigger. Nothing like the feeling of watching the train go by and never getting on. After the fact kind of makes you feel stranded.

Now that we've has a pull back on the 5 min EUR would you be looking to re-enter on the next break of the cancle that closes below the 5 ema?

Are you looking to stay out since its already moved so far and is so close to the Sept 11th low?
If you are new to this style of trading not to worry, either start trading demo or with very small lots micro even until you're comfortable. There's no rush.

I'll wait to see what the medium UK news brings in 15 mins.

The more we drift up, at the moment we are getting close to S1 at 1.3916, the more space we have to sell again, if indeed thats the way we go. I'd have no problem selling these levels again if its set up right.
  • #149
  • Oct 2, 2008 3:26am Oct 2, 2008 3:26am
Hi Nutmg12
Are you currently trading with indicators still?
  • #150
  • Oct 2, 2008 3:28am Oct 2, 2008 3:28am
Quoting Vantage
If you are new to this style of trading not to worry, either start trading demo or with very small lots micro even until you're comfortable. There's no rush.

I'll wait to see what the medium UK news brings in 15 mins.

The more we drift up, at the moment we are getting close to S1 at 1.3916, the more space we have to sell again, if indeed thats the way we go. I'd have no problem selling these levels again if its set up right.

Thanks

As I watch it drift up I see the room its creating for another possible sell.

I need to allow for the news. Do you just use the FF new schedule?

I am new to this style of trading but have been watching these trades go by for about 3 weeks now.

I am trading Mico lots so no worries on loseing the house..

BTW I'll be reading the thread you refered me to at work today.

Thanks for all of your efforts.

Joe
  • #151
  • Oct 2, 2008 3:35am Oct 2, 2008 3:35am
Quoting nutmg12
Thanks

As I watch it drift up I see the room its creating for another possible sell.

I need to allow for the news. Do you just use the FF new schedule?

I am new to this style of trading but have been watching these trades go by for about 3 weeks now.

I am trading Mico lots so no worries on loseing the house..

BTW I'll be reading the thread you refered me to at work today.

Thanks for all of your efforts.

Joe
Yes I use FF for news.

When I started looking more and more at the simple idea of 'first retracement' thats when things really clicked and I could ditch indicators.

Don't get fired reading fx stuff at work!!

Cheers
  • #152
  • Oct 2, 2008 3:58am Oct 2, 2008 3:58am
Eur and jpy have both had some hl's which makes the possible sells here a lot more tricky. I would much prefer they both have another move up from here fail to make their last highs - 1.3933 and 1.4678 - and then fall.
  • #153
  • Oct 2, 2008 4:10am Oct 2, 2008 4:10am
Quoting Vantage
Eur and jpy have both had some hl's which makes the possible sells here a lot more tricky. I would much prefer they both have another move up from here fail to make their last highs - 1.3933 and 1.4678 - and then fall.
What that will mean of course if it doesn't fall from here, there will be hl's and the buy chance will be missed. So far so good though.
  • #154
  • Oct 2, 2008 4:16am Oct 2, 2008 4:16am
So at this point because of what looks like could be a HL on the hourly we need a pullback below the 5 ema on the 5min then a signal to buy when price rises above it?

The sell is off until we get a LH on the hourly?


I never really though about it but an IB will be created and then you'd have both...
  • #155
  • Oct 2, 2008 4:35am Oct 2, 2008 4:35am
Quoting nutmg12
So at this point because of what looks like could be a HL on the hourly we need a pullback below the 5 ema on the 5min then a signal to buy when price rises above it?

The sell is off until we get a LH on the hourly?


I never really though about it but an IB will be created and then you'd have both...
All 3 currencies are pretty much the same with hl's and lh's right after each other, they can go either way. They'll break out and then probably run in whatever direction they go.

I'll pick a currency and go either way.
  • #156
  • Oct 2, 2008 4:39am Oct 2, 2008 4:39am
Sweet,
Thanks for the help this morning. I have about an hour and a half left. One small loss this morning but I needed to break the seal and get in the game so I'm not bummed. If I don't post again this morning I'll be back tomorrow night.


I really love this style of trading. I should have been in the profit this morning and on the Asian session yesterday but missed because of my hesitation to enter even though all signs are go. I'll be thinking about that all day.
  • #157
  • Oct 2, 2008 4:48am Oct 2, 2008 4:48am
I bought jpy and got out at BE. I'll probably now wait until after Eur news in about 2 hours.
  • #158
  • Oct 2, 2008 4:52am Oct 2, 2008 4:52am
Quoting nutmg12
Sweet,
Thanks for the help this morning. I have about an hour and a half left. One small loss this morning but I needed to break the seal and get in the game so I'm not bummed. If I don't post again this morning I'll be back tomorrow night.


I really love this style of trading. I should have been in the profit this morning and on the Asian session yesterday but missed because of my hesitation to enter even though all signs are go. I'll be thinking about that all day.
Its a pleasure.

Cheers, careful though in the next hour or so it could be very choppy.

This narrow channel didn't work, yet, nothings 100%, but a narrow channel break out is way up there on the % winners scale.

Ok taking a break be back later.
  • #159
  • Oct 2, 2008 5:10am Oct 2, 2008 5:10am
Quoting Vantage
... but me thinks I have to write 100 times - 'don't exit trades too early', I'll work on it.
Only 100 times (if so, you are doing much better than me ) ?

Nice thread, thank-you, Vantage.

J.
  • #160
  • Oct 3, 2008 12:22am Oct 3, 2008 12:22am
Asian session.
Eur and gbp were a mess in Asian session. Jpy was the pick but had a loser if we use -15 for stop and approx 70 pip winner bouncing on the half number 144.50.

Whilst all currencies had nice bounces in later Asian session Jpy had a move from 144.50 and a hl at todays open the orange line. This would have been tough to get into as no doubt a sell would have seemed on the cards as it was another lh.

System again would have worked nicely for those that trade this time.
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