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Higher low, lower high system

  • #401
  • Feb 19, 2009 8:50am Feb 19, 2009 8:50am
I think I understand. Look at the M5 lower highs/higher lows within the H1 candle for the direction to trade. Thanks.

http://i43.tinypic.com/5fhn3l.gif
TRO
  • #402
  • Feb 19, 2009 7:07pm Feb 19, 2009 7:07pm
Nice to see you posting again V. Do you have an indicator that draws Y's High,etc or do you hand draw? Yes, I know, I am just getting lazy.

Regardless, your HL,LH strategy is working well for me, thanks.
  • #403
  • Feb 20, 2009 1:05am Feb 20, 2009 1:05am
Quoting orientos
Nice to see you posting again V. Do you have an indicator that draws Y's High,etc or do you hand draw? Yes, I know, I am just getting lazy.

Regardless, your HL,LH strategy is working well for me, thanks.
Download the pivot indi in post one, it does pivots (now thats a big surprise!!!) and you can choose options for prev days high/low todays open, fibs based on yesterdays pa (which I find also works very well) and others which I don't use. You can also change the start times used to calc the pivots to suit yourself, I have start time as midnight gmt which works well for London sessions.
  • #404
  • Feb 23, 2009 3:41pm Feb 23, 2009 3:41pm
Just began to read this thread. Great work with all these example trades. Thanks a lot. I will give this strategy a try.

See you in the Force Chat.
Cheers
robBroker
  • #405
  • Feb 24, 2009 2:40am Feb 24, 2009 2:40am
Cheers Rob,

Took this ej trade, whilst 1 hr was a neg close candle overall we are in uptrend, after 2 spinning tops/dojis a strong move up from 38% of yesterdays move (yellow line 120.82). See the red arrow. Exited at reject of double top.
Attached Image (click to enlarge)
Click to Enlarge Name: ej 5 min.gif Size: 18 KB
  • #406
  • Feb 27, 2009 11:40am Feb 27, 2009 11:40am
HL/LH is a nice scalping system...

http://i43.tinypic.com/sce3hu.gif
TRO
  • #407
  • Mar 4, 2009 4:14am Mar 4, 2009 4:14am
Took this lh sell in the force 5 chat room trading gu and eu there.

The peak around 1.4086 had stoch divergence and I took the sell off next lh entry that had force 5 signal. Entered at 1.4068 just below the 50% of yesterdays move. Targeted 1.4025 but missed my exit price by a fraction got out when quick bounce hit trail for +22.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 5 min.gif Size: 20 KB
  • #408
  • Mar 5, 2009 11:45pm Mar 5, 2009 11:45pm
Hi V,
Have enjoyed your comments in force chat and have just read all through this thread. Lots of good stuff here, thank-you!

A question - perhaps this was covered and I missed it. Do you always wait for the close of the hourly cande? eg if the candle appears to be heading strongly in a particular direction, or appears to be forming an engulfing or other type, will you wait for this hourly close before you look for lh/hls etc on the 5 min?

Thanks again for your very good thread.
  • #409
  • Mar 6, 2009 12:14am Mar 6, 2009 12:14am
Quoting Nedify
Hi V,
Have enjoyed your comments in force chat and have just read all through this thread. Lots of good stuff here, thank-you!

A question - perhaps this was covered and I missed it. Do you always wait for the close of the hourly cande? eg if the candle appears to be heading strongly in a particular direction, or appears to be forming an engulfing or other type, will you wait for this hourly close before you look for lh/hls etc on the 5 min?

Thanks again for your very good thread.
Pleasure, theres lots of good guys in the force chat.

I generally start trading around 1.30-2 est and by that time a candle has often formed to give a good idea for direction. Frankfurt hour can often give a good trade. Then I'm looking to follow the direction until I have good reason not to i.e. a double top/bottom or a lower high/higher low at an important area and hopefully some divergence.

So no I don't wait for each 1 hr candle to close.
  • #410
  • Mar 6, 2009 2:31am Mar 6, 2009 2:31am
Thanks V.
Another question, for when you have time. At times of uncertain market direction, do you flick the 1hr down to look at 30 or 15 min candles , or do you think this is not helpful?
  • #411
  • Mar 6, 2009 7:56am Mar 6, 2009 7:56am
Quoting Nedify
Thanks V.
Another question, for when you have time. At times of uncertain market direction, do you flick the 1hr down to look at 30 or 15 min candles , or do you think this is not helpful?
I don't, if eu, gu, ej and uc aren't doing anything I'll just wait, a trade will be coming soon.
  • #412
  • Mar 9, 2009 3:31am Mar 9, 2009 3:31am
Despite the 1 hr being a fairly big hammer pa didn't want to go above 1.4090 which was below the previous lh at 1.4111. Sold the next lh at 1.4072.

Exited just above 1.40 for 67 pips.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu 1 hr.gif Size: 18 KB
Click to Enlarge Name: gu 5 min 2.gif Size: 23 KB
  • #413
  • Mar 11, 2009 4:12am Mar 11, 2009 4:12am
Took this lh rejection of 1.3772 which was 38% retrace of yesterdays move. There was a lh on 1 min so I moved stop to 1.3717 just above the monthly M1. It got taken out for +27.

This was 1 case where I was glad to be taken out price retraced quickly and would have had me out at break even.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 5 min.gif Size: 20 KB
  • #414
  • Mar 15, 2009 6:21am Mar 15, 2009 6:21am
Took the higher low buy see last blue arrow up on the right. Exited 2/3 at W M2 for +32, didn't pop any higher and balance out at +10.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 5 min.gif Size: 24 KB
  • #415
  • Mar 15, 2009 6:27am Mar 15, 2009 6:27am
Sold lh on right marked with yellow x (shooting star with higher volume). I did wait for price to go a few pips through the dotted yellow line which was yesterdays high.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 5 min2.gif Size: 26 KB
  • #416
  • Mar 15, 2009 6:45am Mar 15, 2009 6:45am
Oh yes I have added the cdrw indi from the volume spread analysis thread http://www.forexfactory.com/showthre...02#post2604202 they also have a very interesting chat room.

I am aware of the limitations of the mt4 volume indi but am fairly confident in the basic higher low, lower high close and if you have either of these with green increasing volume thats good enough for me.

Looks like esignal or similar may be the way to go.
Attached File(s)
File Type: mq4 CDRW.mq4   4 KB | 574 downloads
  • #417
  • Mar 16, 2009 7:22am Mar 16, 2009 7:22am
The new volume spread analysis thread. http://www.forexfactory.com/showthread.php?t=157629 The chat room link is there and there are some very impressive traders plying their trade .

I have posted this on the vsa thread but for the record some fairly straight forward gu trade this am. The 1 hr chart at 8am has a higher close with higher volume. The 5 min shows several higher lows with increased volume. I was out for the last trade on the right just thought it was interesting to show.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu 1 hr.gif Size: 22 KB
Click to Enlarge Name: gu 5 min.gif Size: 22 KB
  • #418
  • Mar 16, 2009 7:35am Mar 16, 2009 7:35am
I didn't do any eu trades this am but for those that like it certainly a very good set of possible trades here. Again the 8 am candle had a higher close on increased volume so its setting up for buys from there. Some hl's with higher volume are indicated on 5 min.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 1hr.gif Size: 22 KB
Click to Enlarge Name: eu 5 min.gif Size: 27 KB
  • #419
  • Edited 11:48am Mar 16, 2009 10:58am | Edited 11:48am
Hi, V - good to see your charts as always and tks for the VSA link : very timely, having recently switched to the euro futures for real volume numbers.
Here's a chart as of right now :

-3 @ 1.3020
+1 @ 1.3012
+1 @ 1.2990 (since taking screenshot, whilst typing this post)

C'mon EC, collapse !

The yellow paintbar immediately prior to my sell is a very Low Volume bar, implying volume drying up, the Klinger + ATR is a volume spread indicator, measuring volume against the relationship of the HLC; it's summed with an ATR number to create the red / green zero line.

The TS8 Better Volume indi is free from here (good videos to explain) : http://emini-watch.com/free-stuff/volume-indicator/

J.

Edit : last contract stopped on trail at 1.2990 for +68 total ticks.
Attached Image (click to enlarge)
Click to Enlarge Name: EC chart with volume.jpg Size: 135 KB
  • #420
  • Mar 17, 2009 1:45am Mar 17, 2009 1:45am
Thanks jtrade very interesting. I liked the tutorials on topping patterns using volume. I couldn't find the indi mentioned but it'll be tradestation specific.
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