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Higher low, lower high system

Royston didn't trade this one at all but this would be a very straight forward lh sell after a neg 1 hr candle and a 15 min higher vol push down to the low of the range.

Lots of reasons for this sell with a small stop, easily making $10 per pip, ie a potential 30 pip 3% return for this one alone.
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Quoting Vantage
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.
Thanks guys.
Quoting Vantage
Royston didn't trade this one at all but this would be a very straight forward lh sell after a neg 1 hr candle and a 15 min higher vol push down to the low of the range.

Lots of reasons for this sell with a small stop, easily making $10 per pip, ie a potential 30 pip 3% return for this one alone.
This becomes a very good example of how we use 15 min candle and vol.

The eur sell has a solid 15 min lower close candle with a 5 min lh following.

The above gbp sell we didn't take as explained in post 560, was following a solid positive close candle on 15 min chart.

Both 15 min charts attached. The 15 min set up/avoid candles highlighted.
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Hi Vantage and all,

I've been off a few days, so I am a bit lost. So, the late analysis are pretty interesting. I just would like to know what are the MAs in the graphics. They seem to be 9 and 20 EMA. I've looking through the thread and found nothing.

Thanks.

gonso
Quoting gonso
Hi Vantage and all,

I've been off a few days, so I am a bit lost. So, the late analysis are pretty interesting. I just would like to know what are the MAs in the graphics. They seem to be 9 and 20 EMA. I've looking through the thread and found nothing.

Thanks.

gonso
No problem gonso, they are 8 and 20 lwma's on close. I use these on all charts. 1 min could use a longer ema. Islander favours 30 ema.

Any type of ema combo in and around 10 and 20 will be ok.
Quoting Vantage
Royston didn't trade this one at all but this would be a very straight forward lh sell after a neg 1 hr candle and a 15 min higher vol push down to the low of the range.

Lots of reasons for this sell with a small stop, easily making $10 per pip, ie a potential 30 pip 3% return for this one alone.

Thanks for taking a look at EU, V, much appreciated.

How are you dealing with stops? Are they a fixed size, or placed behind the high of the move, which is usually the high of the entry candle. I was late to the table today, so did not catch the candle you highlighted, and then I proceeded to make a pigs ear of the run back up. On EU it was not as smooth as on the GU. Very frustrating. I am finding the moving averages quite distracting, so am taking the directions from the bias on the 15 min chart, with the aim of catching a 15 min swing.
Quoting Royston
Thanks for taking a look at EU, V, much appreciated.

How are you dealing with stops? Are they a fixed size, or placed behind the high of the move, which is usually the high of the entry candle. I was late to the table today, so did not catch the candle you highlighted, and then I proceeded to make a pigs ear of the run back up. On EU it was not as smooth as on the GU. Very frustrating. I am finding the moving averages quite distracting, so am taking the directions from the bias on the 15 min chart, with the aim of catching a 15 min swing.
12-15 pips ie pretty much top of the candle. If there is an important level we may move stop slightly to place it between our trade.

IF the ma's are distracting take them off. Pls consider what they will do, eg in yesterdays very sharp move down pa will move away from the ma's which will take some time to catch up when turns happen.

On 15 min charts I don't look for hl's/lh's but at 1 candle patterns, then look at 5 min also. A good hammer on 15 will often give a nice pattern on 5 min. I prefer vsa on 15 min not as much noise.

Oh if 2 ma's are distracting try just using short one, the crosses when timed with a hl/lh can be easily seen.
1) On left. LH sell, didn't take this one, the 15 min neg close candles were on very low vol, followed by a higher vol shooting star (which closed in its upper half). After y's close above prev highs was enough to give me doubt. If I had taken this one stop to BE asap, no doubt.
2) Following out thoughts above we were waiting for hl reject of WM3. Nice trade.
3) Our buy was busy being taken out here at top, not a lh though so no trade on this method. Islander was prob all over it!!
4) After the over the top fall bought the top of doji. Just escaped getting taken out at BE started moving up a 2nd time, then fell very quickly, out at BE.

So 2 misses (1 intentional), 1 BE, 1 win. MPC minutes in under an hour might sit on the side.
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3 trades 2 wins 1 BE. Actual trades posted live at medici/islander thread.

BE trade was a sell about 8 candles left of first arrow down, when price couldn't go above yellow line (a fib on y's range).

The set up for 1st sell was a high vol shooting star on 15 min followed by this lh. 2nd sell a shooting star on 5 min when 75 psych level/prev supp was rejected.
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Quoting Vantage
3 trades 2 wins 1 BE. Actual trades posted live at medici/islander thread.

BE trade was a sell about 8 candles left of first arrow down, when price couldn't go above yellow line (a fib on y's range).

The set up for 1st sell was a high vol shooting star on 15 min followed by this lh. 2nd sell a shooting star on 5 min when 75 psych level/prev supp was rejected.

We missed the hammer/rsi divergence buy at the bottom.
Vantage,

Have just started to read through the thread and have learned much from it so far. My trading strategy was similar to yours on a somewhat naked chart, but as I am pretty new hadn't developed to this point but I believe I was on the path to a similar system. So just wanted to say thank you for sharing and extremely accelerating my learning.

Quick question for now. Do you enter on the first bar only after the H/L or L/H if it breaks the signal bar high/low? I have noticed that it may take a couple bars to overcome. Any insight to how much indecision is too much to let the trade pass and wait for the next move.

Thanks again.
Quoting Hondaman
Vantage,

Have just started to read through the thread and have learned much from it so far. My trading strategy was similar to yours on a somewhat naked chart, but as I am pretty new hadn't developed to this point but I believe I was on the path to a similar system. So just wanted to say thank you for sharing and extremely accelerating my learning.

Quick question for now. Do you enter on the first bar only after the H/L or L/H if it breaks the signal bar high/low? I have noticed that it may take a couple bars to overcome. Any insight to how...
Glad to have been of help.

Entry would normally be the next bar after the hl/lh set up candle has formed.

The indecision question is a toughie. Doesn't take much to keep me out as you need to be pretty happy when you are using a 15 or so stop. Usually theres a trade coming soon enough.

You know what I wasn't happy with my trading a few days ago, not that I was losing but wasn't getting enough pips for the moves that were happening.

That all seems like a long time ago today.
Morning Mr V,

imho big pips is over-rated, lol , and a better goal is consistency, which you achieve with great effect.

I am learning rapidly, and took one of your set ups this morning, achieving +14 against your +23, but still pleased with seeing the pattern.

I came across this yesterday, a web site that number crunches your MT4 results, like MyFxBook, but different analysis.
http://picon1.mt4stats.com/analyses.

Always interested in seeing how performance improves (or not). The link is an example account that someone else posted.

Roy
Thanks for response Vantage. As I am reading through your thread seems like I am a similar place to you when you started the thread. I too am having nice entries but am ending up with BE's and not pulling enough profit out by just wanting to find that balance between maximizing moves and taking profits. I try to stick to my profit targets but hear so many traders say that part of the key is to "let trades run." I guess only experience will tell. But another thing that I have picked up from the thread is actually going down to the 1m time frame and really studying what PA is doing to help confirm to get out of the trade and re-enter at next setup.
Quoting Royston
Morning Mr V,

imho big pips is over-rated, lol , and a better goal is consistency, which you achieve with great effect.

I am learning rapidly, and took one of your set ups this morning, achieving +14 against your +23, but still pleased with seeing the pattern.

I came across this yesterday, a web site that number crunches your MT4 results, like MyFxBook, but different analysis.
http://picon1.mt4stats.com/analyses.

Always interested in seeing how performance improves (or not). The link is an example account that someone else...
Hi Royston
Whilst I still pop into the gj gu uj thread I think it is from direct trade (some great traders there) I have had to accept what I am. A scalper, small stops and (hopefully) carefully chosen high prob trades can give 3-5% a day. Yes of course there'll be BE and losing days but there'll also be the days that you get into the 100+ pip runs.

Thanks for that link.
Quoting Hondaman
Thanks for response Vantage. As I am reading through your thread seems like I am a similar place to you when you started the thread. I too am having nice entries but am ending up with BE's and not pulling enough profit out by just wanting to find that balance between maximizing moves and taking profits. I try to stick to my profit targets but hear so many traders say that part of the key is to "let trades run." I guess only experience will tell. But another thing that I have picked up from the thread is actually going down to the 1m time frame...
I'm actually getting fewer longer runs that I did previously. Something I'm working on still ......................

There's more than 1 way to skin a cat though ....
Quoting Hondaman
Thanks for response Vantage. As I am reading through your thread seems like I am a similar place to you when you started the thread. I too am having nice entries but am ending up with BE's and not pulling enough profit out by just wanting to find that balance between maximizing moves and taking profits. I try to stick to my profit targets but hear so many traders say that part of the key is to "let trades run." I guess only experience will tell. But another thing that I have picked up from the thread is actually going down to the 1m time frame...
I have BE trades that saved me from losing and BE trades that went onto be winners. The better the set up the more I'll be prepared to let run.

Today was actually a good example. I had a BE trade where the entry was price refusing to go above 5295 area, when it went below those candles I sold. At about +12 or so moved stop to BE, it got hit.

The trade after the high vol 15 hammer rejecting a key level gets a little more room.
2 trades I DID NOT take, first one we were away from the computer before UK news. 2nd one too risky.

15 min chart, arrow up. A high vol large hammer followed by 2 more hammers and a doji in between. 5 min see tick, has a nice hl close just above the top of immediately range around 5276. I like to think I'd have taken that one. Little or no upper wick and a strong move to extreme of range after drifting. 15 min chart suggested up.

2nd trade we did not consider at all. 15 min chart, arrow down, showed a decent vol shooting star at end of move. 5 min hl, see x, couldn't make it above the 5316 days open/fib retrace of y's range both at the exact same price. WR1 was just above. Anyway the 15 min shooting star was not what we wanted to see prior to that hl.
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Quoting Vantage
2 trades I DID NOT take, first one we were away from the computer before UK news. 2nd one too risky.

15 min chart, arrow up. A high vol large hammer followed by 2 more hammers and a doji in between. 5 min see tick, has a nice hl close just above the top of immediately range around 5276. I like to think I'd have taken that one. Little or no upper wick and a strong move to extreme of range after drifting. 15 min chart suggested up.

2nd trade we did not consider at all. 15 min chart, arrow down, showed a decent vol shooting star at end of move....
Oh not taking that 2nd trade where we were at computer is JUST as good a trade as the ones that put pips in the bank.

You don't have to take every set up that may present itself. IF that trade had gone up you DO NOT beat yourself up that you missed some pips, you just say no problem I had good reason to stand aside.

Cannot help but think of eyevoltage that seems to do just fine from picking good candles to enter in a trend.
Daily had a strong move up, a small continuation candle up (which was not a good follow through after such strong close prev day) then a small neg candle suggesting downside today.

Price stalling pretty much on each fib level on way down.
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