Higher low, lower high system

Hi Vantage - just downloaded the currency meter and will watch it next week. Will probably just focus on weakest v strongest to see how it goes. Thanks for bringing it to our attention.

PS - USD very strong and GBP very weak so shorted a break of support on the M1 and out +38 live micros Beginners luck!.

Hi O nice to hear from you again.

Yes this move was clear.

GU numbers were close most of time in and around FO/LO. Around 4 ish for both. 1st arrow down US showing stronger and gbp weaker so at 2nd arrow nice lower high and numbers moved apart strongly to support the trade.

Also a perfect shooting star lh on 5 min.

With numbers staying wide resold 75 level, never followed through out at BE.

With usd strong at 7, and gbp staying weak at 2 happy to sell again for an exit at MM1 5656.

Hello

It seems that you are having good results with this metod. Taht is very good.

My a give you one sujestion use ABCD patterns as a tool no need any indicaor for that just knologe but if you want there are many indicator othere.

here you will find good information from a experinte trader ho scalps low tf as you do http://www.forexfactory.com/showthread.php?t=161542.

I hope you like this.

I personaly will try to use ABCD on low tf as 5m and try to use the basic Goodman knolege for the wave patterns and aply harmonic patterns with S&R and fib, pivot and try to take the high probabiliy trades. No i will join the Meeter this one or one i will make with excell.

So i will be following the posts here because i dont know anyone that uses a meeter with low tf price action.

Mabe this meeter is not the best for this but we can make one in excell if we find that is better. But if this one give us good trades. Ok no need for more work.

Hope everyone is making pips.

Alfredo

I had a small restriction on posting as I was classified a commercial member. This thread has also been moved to commercial section as I'm using a currency meter to trade with to see if there are improvements to the normal hl/lh system I am using.

Now posting here http://www.forexfactory.com/showthread.php?t=219398 initial results look very good.

1hr shooting star at 4985 area, upper limit in US/Asian session. Sold this lh, +14 stop at BE.

1 hr and 5 min attached.

The left red line shows close of 1 hr shooting star, ie look for next lh with good candles to sell. The 5 min chart shows the first trade I took, the 2nd arrow down shows another trade taken (live chart posted in medici/Islander thread).

The red line on right shows the close of 1 hr hammer ie look to buy. the 2 arrows up show 2 clear hl's.

Traded so badly today and missed these two easy set ups. Not happy, thankfully don't trade this badly to often!!

Mrs V was totally against the CM so am no longer using. Yes it saved some losing trades but also made us miss some good ones. She did not believe it added to our trading.

As posted elsewhere everything suggesting up. 5 min hl, exit at MM2 for +26.

We like to trade until gu has done 125 pip run. Didn't take the trade on the right, run down was short of 125 but after a decent-ish run down was worried about the purple W P at 5115.

Anyway 3 nice lh's that gave decent pips.

I got a pm asking why I'd taken the first lh sell trade above as we not had a 1hr neg close candle.

As posted on the medici/islander thread I had already commented that if the 2 weekly hammers were not broken to the upside then a decent correction down could be expected.

We then had a strong rejection of Fri's high and the W/M pivots. 15 min chart, see shooting star with stronger vol then that was followed up with a fall to base of prev range on even greater vol. If that fall was on low vol it would have been a different story. The bounce from that base was weak giving the 5 min lh.

I have for some time been using vsa on 15 min and not on 5 min charts.

15 min chart attached.

I was also asked what kind of candles I look for. I look for small candles against the trend so here it would be small green positive close candles followed by 5 min engulfing, doji, shooting stars (in downtrend, hammers in uptrend).

This was a better day than most see 5 min but hopefully you'll see numerous examples in prev posts.

The final question was on % successful trades. I'm still running around 70% winning trades, hoping to nudge that up a little.

Yes I still have to work on hanging in trades longer, probably my weakest area. Especially if a direction gets rejected early then odds really are on that decent move in opp direction.

Due to a mis-understanding with the currency meter this thread was moved to the commercial section. The thread ratings got wiped out.

So if you like the thread please rate it.

This is a simple trading concept that I believe more traders should have in their bag of tricks.

Hi V,
what are your thoughts about trading EU rather than GU? does the "character" of a pair make any difference to how you approach this?

Hi Royston
EU for me is a distant 3rd in trades behind gu and ej. The basic set ups being 1,2,3 tops/bottoms at key points and a lh/hl after a 1hr set up candle won't change though for eu.

I'd think the only changes you'd need are the size of stops for more volatile pairs like gj.

The why's etc posted elsewhere.

How we saved some potential losing trades.

OK 1 hr had a big wick and strong bounce from W S1. 15 min as part of that bounce had a strong close, inside bar, little upper wick.

The 5 min shooting star arrow down on left, a sell we didn't take. Reasons the large 1 hr lower wick, 15 min pos close no upper wick, 5 min shooting star was right on an even number. If you're going to trade around an even number expect more volatility and you had better be sure of the trend. So we were still on 5 min lh but didn't sell.

There was a 2nd shooting star, by now theres been a 2nd no upper wick 15 min pos close. Now you are no longer on 5 min lh's like the first shooting star.

Too much conflicting info so we didn't sell and were buyers in these moves up as posted above.

We had 5100 as a target area but we are still exiting too early. We have pips in the bank but this SHOULD have been 1 of those 10-15% days.