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Higher low, lower high system

  • #741
  • Apr 8, 2010 5:37am Apr 8, 2010 5:37am
Quoting Royston
No, I took the first HL after the news. To cut a long story short, I closed -3 on that trade. Looking at the chart, the third low was the one to take. But what factors would keep you out of the first 2, and then take the third? In hindsight, I can see factors saying why you should take the 3rd low, mainly the inability of price to break below 5184, so that is a positive indication to take the trade, but what stops you taking the first 2 breaks of the low?

Hi Royston
I've added 5 min chart with arrows up for poss buys after news.

We had stopped trading after good morning session.

Int rate day in UK first and then euro was enough to make us stop. Also if we had been looking, to be buying in and around an even number would have made us pause. You can always expect more volatility and have to be convinced of direction.

How do you know the 3rd move would be the 1 to go, difficult but as I often say how much is the bounce from a key level.

After the event is easy, I did say live when you asked above. With 1 hr candle pos close and failure of shooting star it could be a buy above SS upper wick. That price action would have kept you out of 1st 2 poss buys above.

The major thing that would have kept me out was the even number.
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  • #742
  • Apr 8, 2010 1:15pm Apr 8, 2010 1:15pm
This thread is little messy to me i dont understand your strategy do u explain it more in any of the later pages ?


best regards
  • #743
  • Apr 9, 2010 1:07am Apr 9, 2010 1:07am
Quoting jgadefelth
This thread is little messy to me i dont understand your strategy do u explain it more in any of the later pages ?


best regards
Sell 5 min lh's below days open. Consider 1hr, 15 min candles.
Buy 5 min hl's above days open. Consider 1hr, 15 min candles.

Hope this helps the mess.
  • #744
  • Apr 9, 2010 1:31am Apr 9, 2010 1:31am
Quoting Vantage
Sell 5 min lh's below days open. Consider 1hr, 15 min candles.
Buy 5 min hl's above days open. Consider 1hr, 15 min candles.

Hope this helps the mess.
Still seems a bit messy to me You could try

Sell 5 min lh's below days open
Buy 5 min hl's above days open
Consider 1hr, 15 min candles

Hang on...I think I feel a haiku coming on....
  • #745
  • Apr 9, 2010 1:45am Apr 9, 2010 1:45am
Quoting jgadefelth
This thread is little messy to me i dont understand your strategy do u explain it more in any of the later pages ?


best regards
This thread is not messy in the slightest. In fact, it has one of the clearest methodologies of any thread on the Factory in my opinion.

Read the first post carefully, and work your way through the entire thread, post by post. It will take some effort and time, but you will come to understand the strategy fully.

So I guess the answer to your question is, "yes", if you're willing to make the effort.
  • #746
  • Apr 9, 2010 1:46am Apr 9, 2010 1:46am
Daily suggesting up, another big hammer. 15 min pos close on higher vol. Bought this 5 min hl.

Stop to BE at +20, dropped to around +9 so I left it to see what happened.

This week has been London session sell US session buy, perhaps we'l finish week the same.
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  • #747
  • Apr 9, 2010 1:48am Apr 9, 2010 1:48am
Quoting jgadefelth
This thread is little messy to me i dont understand your strategy do u explain it more in any of the later pages ?


best regards
Hi jgadaefelth
The thread has taken a few developments (the whole indicator thing for one) but the above trade was hopefully a clear example of what we are looking for.
If this last trade is not clear pls advise.
Regards
  • #748
  • Apr 9, 2010 1:52am Apr 9, 2010 1:52am
Quoting Vantage
Daily suggesting up, another big hammer. 15 min pos close on higher vol. Bought this 5 min hl.

Stop to BE at +20, dropped to around +9 so I left it to see what happened.

This week has been London session sell US session buy, perhaps we'l finish week the same.
The 15 min and 1hr candles for last trade clearly suggesting up.
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  • #749
  • Apr 9, 2010 3:21am Apr 9, 2010 3:21am
GM V. Only one HL trade or me today (see Islanders thread)and I just haven't been very switched on. Looking back, I can see a few good entries and I good luck if you scaled in.
  • #750
  • Apr 9, 2010 4:35am Apr 9, 2010 4:35am
Quoting orientos
GM V. Only one HL trade or me today (see Islanders thread)and I just haven't been very switched on. Looking back, I can see a few good entries and I good luck if you scaled in.
Would have scaled in if first trade did not end as BE. Re-entry was somewhat higher.

A good morning and early days yet but the buy above DO and sell below DO certainly working an absolute charm.

Some charts coming.
  • #751
  • Apr 9, 2010 4:43am Apr 9, 2010 4:43am
This is 15 min chart, prev days high and DO at same level, around 5280.

1hr up and yesterday a nice hammer, pa now above DO so its just looking for buy chances. Left arrow up is the entry we took.

15 min then had a shooting star marked with x so care with buys. Then we have a positive close (2nd arrow up from left).

2 hammers that follow through higher so its still just buys.

2nd x shows a lower close but vol also lower. The last arrow up shows a doji ie no follow through lower.
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  • #752
  • Apr 9, 2010 4:45am Apr 9, 2010 4:45am
Quoting Royston
Still seems a bit messy to me You could try

Sell 5 min lh's below days open
Buy 5 min hl's above days open
Consider 1hr, 15 min candles

Hang on...I think I feel a haiku coming on....
a haiku?
  • #753
  • Apr 9, 2010 4:52am Apr 9, 2010 4:52am
Quoting Vantage
This is 15 min chart, prev days high and DO at same level, around 5280.

1hr up and yesterday a nice hammer, pa now above DO so its just looking for buy chances. Left arrow up is the entry we took.

15 min then had a shooting star marked with x so care with buys. Then we have a positive close (2nd arrow up from left).

2 hammers that follow through higher so its still just buys.

2nd x shows a lower close but vol also lower. The last arrow up shows a doji ie no follow through lower.
Arrow up left, the 1st entry that got hit at BE, see the x. Pity.

No problems on 1hr or 15 min so there are several arrows up showing confirmed hl trades. I have put an x at a hl 5325, the following candles do not go on 1 pip so thats a hl but no trade.

The x at 5350, if you were not in already there was now a 15 min engulfing candle to give some concern and also run has gone 100 pips, not the time for 1st trade in a move IMHO.

Run done 125 pips so I've lost interest, another hour or so before US starts kicking in.
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  • #754
  • Apr 9, 2010 4:55am Apr 9, 2010 4:55am
Quoting Auron112
This thread is not messy in the slightest. In fact, it has one of the clearest methodologies of any thread on the Factory in my opinion.

Read the first post carefully, and work your way through the entire thread, post by post. It will take some effort and time, but you will come to understand the strategy fully.

So I guess the answer to your question is, "yes", if you're willing to make the effort.
Thanks Auron112.

This is a no indicator price action driven system that IS highly effective. Even more so with the tweaks ie not going against 15 min candles and focusing trades on above/below DO.

My win % is going up nicely from a decent figure before.
  • #755
  • Apr 9, 2010 4:57am Apr 9, 2010 4:57am
Quoting Vantage
Thanks Auron112.

This is a no indicator price action driven system that IS highly effective. Even more so with the tweaks ie not going against 15 min candles and focusing trades on above/below DO.

My win % is going up nicely from a decent figure before.
Today again no losing trades. Also have a look at all system entries and see what draw down was against you.

Talk about risk reward .........................
  • #756
  • Apr 9, 2010 5:19am Apr 9, 2010 5:19am
Quoting jgadefelth
This thread is little messy to me i dont understand your strategy do u explain it more in any of the later pages ?


best regards
I have reduced the size of 1st post, if you are not clear pls ask specific questions if you are still interested and I'll do my best to explain.

regards.
  • #757
  • Apr 9, 2010 5:35am Apr 9, 2010 5:35am
Time of day is critical in all of this, imho. This way of trading works best when movement is high, and all the new participants are keen to transact their business. I am beginning to notice how movement is related to which participants are in the market, and when they arrive. Yesterday was quite a clear day illustrating this.

Quoting marcus1rex
a haiku?
yes, like these

A whale!
Down it goes, and more and more
up goes its tail!

http://www.toyomasu.com/haiku/
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  • #758
  • Apr 9, 2010 5:43am Apr 9, 2010 5:43am
Quoting Royston
Time of day is critical in all of this, imho.

Couldn't agree more and I'm focusing this in particular on London session.

For the sake of clarity the 15 min chart yet again showing blue line DO.

Thanks again Malcolmb14 for the hints elsewhere to use this.
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  • #759
  • Apr 9, 2010 6:24am Apr 9, 2010 6:24am
Obviously the high we reached this morning was a key level, 5530 is the next key level I'll be watching should the right set up present itself.

The bounce lower from 5390 was small which suggests more upside.
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  • #760
  • Apr 9, 2010 12:04pm Apr 9, 2010 12:04pm
Hallo Vantage,

I follow your thread from the beginning And I like your system.

I find the stop-strategy very interesting and have a question. On this chart - where will be the stop - below the yellow or below the blue candle (the blue one is indide bar).

Have a nice weekend
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