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Higher low, lower high system

  • #281
  • Nov 4, 2008 3:42pm Nov 4, 2008 3:42pm
Hi Van,

Nice trading!

I'm still demoing the system, and my current challenge is to improve my ability to decide whether the hourly conditions are right to consider a 5 or 1 min entry.

A few sessions, I've made entries and had my stops taken out repeatedly, and looking back at the hourlies, AFTER the fact, it's clear to see that this was a choppy or dead zone, better off not traded.

Do you ever sit sessions out or wait until the last part of a session to get involved? Do you ever get to the computer, look at the market, and decide, I'm going to wait for better conditions? If so, please try to share a bit about how you make these decisions.

Thanks,

VBro
  • #282
  • Nov 4, 2008 6:20pm Nov 4, 2008 6:20pm
Quoting jtrade
Great trading, Vantage.... are you getting up very early or staying up very late (you're in SA, right ?) !?
Hi jtrade
I've been getting up early (2am local time) when I've had things to do during the day as was the case yesterday. I missed that massive move up.

Asian session seems to move well with good runs.

Sold ej continuation move from 1 min, exited at +52 when it resisted 128.90.
Attached Image (click to enlarge)
Click to Enlarge Name: ej 2am.gif Size: 8 KB
  • #283
  • Edited 8:09pm Nov 4, 2008 6:28pm | Edited 8:09pm
Re-entered ej sell. Waited for break of the previous low, sold at 128.81.

Out +21 when resistance hit at the half number and the high from around 1am est 3 Nov.
Attached Image (click to enlarge)
Click to Enlarge Name: ej 2.10am.gif Size: 8 KB
  • #284
  • Nov 4, 2008 7:17pm Nov 4, 2008 7:17pm
Quoting vbro
Hi Van,

Nice trading!

I'm still demoing the system, and my current challenge is to improve my ability to decide whether the hourly conditions are right to consider a 5 or 1 min entry.

A few sessions, I've made entries and had my stops taken out repeatedly, and looking back at the hourlies, AFTER the fact, it's clear to see that this was a choppy or dead zone, better off not traded.

Do you ever sit sessions out or wait until the last part of a session to get involved? Do you ever get to the computer, look at the market, and decide, I'm going to wait for better conditions? If so, please try to share a bit about how you make these decisions.

Thanks,

VBro
Hi VBro
I've had two bad experiences trying (and failing) to trade US afternoon sessions and I steer clear of them now. I can only recall 1 UK session where I had a bad time where nothing seemed to work. I'll look at any session but US afternoon and US morning when there are big news events.

Yes I have sat watched and waited when things don't seem clear but if I see a set up candle and a hl/lh then I'm looking to get in. If I get stopped out I'll look at hl/lh off 1 min chart and that normally works. I'll look to get in as close as possible to the 5 ema cross or the break beyond the last hl/lh (see again the very last trade posted).

If you are in any doubt wait for good angle up/down on 1 min 34 ema and trade off those (thanks once again Islander) bounces with lh/hl's and crosses of 5 ema (3 shift).

Hopefully the last two trades will be examples. The 2nd last trade was a lh and cross of 5ema. The last trade was a lh but due to the quick drop the 5 ema couldn't catch up in time so it didn't cross, but a clear lh.

I would suggest looking at Islanders posts as he does numerous trades like this.

Hope this helps, good luck.
  • #285
  • Nov 5, 2008 3:34am Nov 5, 2008 3:34am
Just finished with a breakfast meeting (that's why I was trading at 2am again) and we're into news cycles etc so I might not trade further today, we'll see.

Anyway there appears to have been a fair number of trading opportunities this morning. Just showing by way of example for those that have asked about entries etc.

The first trade (far left) is a lh on 5 min. I would have looked to sell as soon as price broke below the previous low of 128.45.

If a ts kicked me out I would have looked to re-enter break below 128.08 or 127.72 depending on where I got out.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej 5 min.gif Size: 10 KB
Click to Enlarge Name: ej 1 min.gif Size: 8 KB
  • #286
  • Nov 5, 2008 2:56pm Nov 5, 2008 2:56pm
Quoting Vantage
Hope this helps, good luck.
As always, thanks a lot. I'll keep practicing.

VBro
  • #287
  • Nov 6, 2008 5:55pm Nov 6, 2008 5:55pm
Hi Van,

Here's a 1 min entry off the 34ema like you talked about. Green arrow is signal, yellow arrow is entry on break of signal low.

Took this on demo. Getting there...

(thanks Islander, also)

VBro
Attached Image (click to enlarge)
Click to Enlarge Name: vantage.gif Size: 10 KB
  • #288
  • Nov 6, 2008 5:59pm Nov 6, 2008 5:59pm
Quoting vbro
Hi Van,

Here's a 1 min entry off the 34ema like you talked about. Green arrow is signal, yellow arrow is entry on break of signal low.

Took this on demo. Getting there...

(thanks Islander, also)

VBro
Nice one
  • #289
  • Nov 6, 2008 6:47pm Nov 6, 2008 6:47pm
I too used the 34 EMA..in fact as a band...with HH and HL, wave analysis...

Vantage, pls visit my system and I'd like to read ur input as well...

thx
Sonic
  • #290
  • Nov 6, 2008 6:58pm Nov 6, 2008 6:58pm
Quoting sonicdeejay
I too used the 34 EMA..in fact as a band...with HH and HL, wave analysis...

Vantage, pls visit my system and I'd like to read ur input as well...

thx
Sonic
Hi Sonic
I've had a look from time to time and will pop by again soon.

I missed the lh break below 123.50 but traded this one. Whilst I was typing price was really struggling so I moved my stop to just above BE which got hit.
Attached Image
  • #291
  • Nov 6, 2008 7:04pm Nov 6, 2008 7:04pm
Quoting Vantage
Hi Sonic
I've had a look from time to time and will pop by again soon.

I missed the lh break below 123.50 but traded this one. Whilst I was typing price was really struggling so I moved my stop to just above BE which got hit.

thx for ur time...vantage..I'd like to learn/share idea more with u as I believe we have very simliar trading style and it is the money making one... u r using 34ema and another 1??

But I have prob wif lower TF such as 1M or 5M...I can't jus control..my emotion...my 2 weeks old smal new acc scalping just get busted....

my sonic R and Stiker acc are getting greener everyday...


Sonic
  • #292
  • Nov 6, 2008 7:13pm Nov 6, 2008 7:13pm
Quoting sonicdeejay
thx for ur time...vantage..I'd like to learn/share idea more with u as I believe we have very simliar trading style and it is the money making one... u r using 34ema and another 1??

But I have prob wif lower TF such as 1M or 5M...I can't jus control..my emotion...my 2 weeks old smal new acc scalping just get busted....

my sonic R and Stiker acc are getting greener everyday...


Sonic
The other ema is a 5 with 3 shift.

I'm a pretty big believer in trading according to a style that you are comfortable with, so if you have 2 systems that are working for you and 1 isn't I'd stick with whats working. At least until your scalping side has been demo'd/mini traded until you are happy with it.
  • #293
  • Nov 6, 2008 7:15pm Nov 6, 2008 7:15pm
As we speak eur, gbp and ej have all had retracements to a certain degree, now if we can just have a lower close on 5 min we could set up for some nice sells.
  • #294
  • Nov 6, 2008 7:24pm Nov 6, 2008 7:24pm
Sold ej.

Again choppy and ts out at +4.
Attached Image
  • #295
  • Nov 7, 2008 10:13am Nov 7, 2008 10:13am
Here was my trade this morning. It was NFP day so I was being very careful. The times listed are NY times. First look at the 1 hour chart. The 8:00 am one hour candle ended with a doji with the close being towards the bottom of the candle. To me this gives me a down bias. The 15 minute chart has the 9:15 candle close below the 5 ema. So I am now actively looking for a short. The 5 minute 9:25 candle goes up and touches the 5 ema and then closes below the 5 ema. The reason I was looking for a touch of the 5 ema is that the 5 minute candles had already closed below the 5 ema at the 8:55 am candle so I was looking for a pull back and a good reentry point. The next candle (9:30 am) closes with a lower high and I enter 3 pips below the close of that candle and get my 20 pips. Thanks Vantage
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2008-11-07 1 hour.png Size: 44 KB
Click to Enlarge Name: 2008-11-07 15 minute.png Size: 47 KB
Click to Enlarge Name: 2008-11-07 5 minute.png Size: 49 KB
  • #296
  • Nov 8, 2008 2:30am Nov 8, 2008 2:30am
Quoting volcano
[font=Times New Roman][size=3]Here was my trade this morning. It was NFP day so I was being very careful. The times listed are NY times. First look at the 1 hour chart. The 8:00 am one hour candle ended with a doji with the close being towards the bottom of the candle. To me this gives me a down bias. The 15 minute chart has the 9:15 candle close below the 5 ema. So I am now actively looking for a short. The 5 minute 9:25 candle goes up and touches the 5 ema and then closes below the 5 ema. The reason I was looking for a touch of the 5 ema is that the 5 minute candles had already closed below the 5 ema at the 8:55 am candle so I was looking for a pull back and a good reentry point. The next candle...
Lovely trade, great example, thanks for showing.

I've had a lot of personal stuff this past week to sort out and hopefully I'll be around more from Monday.

Cheers.
  • #297
  • Nov 8, 2008 3:06am Nov 8, 2008 3:06am
Quoting volcano
[font=Times New Roman][size=3]Here was my trade this morning. It was NFP day so I was being very careful. The times listed are NY times. First look at the 1 hour chart. The 8:00 am one hour candle ended with a doji with the close being towards the bottom of the candle. To me this gives me a down bias. The 15 minute chart has the 9:15 candle close below the 5 ema. So I am now actively looking for a short. The 5 minute 9:25 candle goes up and touches the 5 ema and then closes below the 5 ema. The reason I was looking for a touch of the 5 ema is that the 5 minute candles had already closed below the 5 ema at the 8:55 am candle so I was looking for a pull back and a good reentry point. The next candle...
Nice analysis indeed...I like the way u work...
U use H1 Price Action, 15 M EMA and 5 M for entry point...Detail indeed...


Sonic
  • #298
  • Nov 8, 2008 4:06am Nov 8, 2008 4:06am
Some analysis if this will help.

Yesterdays ej 1 hr chart.

The hammer marked 1 is the 3am candle and signals a possible turnaround in price. After this price has 3 hours moving up.

The 5 min chart shows:

3.55 -6.55 - after the hourly charts hammer
Price has moved above the previous LH's signalling that the hammer may mean buys and not a continuation lower. There is a HL buy, followed by a double bottom "HL" buy and then another HL. There is a 4th HL buy right on 6.55.

6.55 - 7.55
From the last HL price fails to make a new high signalling a possible turnaround. This is confirmed when price moves below the last HL to make a new LL. From here its looking for sells. Alternatively waiting for hourly candle to close. There are 2 LH's both of which fail to move lower then the 5 min set up candle so neither are trades.

7.55 - 8.55 after the hourly charts bearish candle marked 2
Price goes above the previous LH's so on this system for now sells are out. There is a HL right on the close of the candle at 8.55.

8.55 - 11.55 after the hourly charts spinning top marked 3
The HL's continue confirming the failure to go lower in the previous hour.

There are something like 8 buy chances here. The failed potential sells never confirmed so they were never trades.

This is how I look at trading. Hope this helps.

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: ej 5 min.gif Size: 15 KB
Attached Image
  • #299
  • Nov 8, 2008 8:45pm Nov 8, 2008 8:45pm
Quoting Vantage
Some analysis if this will help.

I won't speak for others, but this post is
Very Helpful to me. Being able to read how you see the markets is like getting to look through a pair of goggles that helps me see these HL/LH trades more clearly. Every time you post something like this, I get another little bit closer to recognizing the set ups myself.

thx again.

VBro
  • #300
  • Nov 9, 2008 7:51am Nov 9, 2008 7:51am
Quoting Vantage
This system is just about as close to naked trading as I can get. The system works on the accepted premise that markets go from highs to lows with inevitable bounces along the way. These retracements provide good opportunites to enter into a move with a relatively small stop loss.

A good trader I knew (I've since lost contact) said that the first retracement is the best trade, without explaining further and I never got the opportunity to discuss it again. In time thinking about this often I took it to mean the first higher low or lower high in a session.

I trade eurusd, gbpusd and eurjpy only. Trying to watch too many currencies just didn't work for me.

Set up 1 hr chart. For the...
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