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Higher low, lower high system

  • #821
  • Apr 27, 2010 1:43am Apr 27, 2010 1:43am
Quoting trublu
Out of curiosity what's the slow MA you're using now?
trublu
Forgot, 8 lwma.
  • #822
  • Apr 27, 2010 2:25am Apr 27, 2010 2:25am
Perfect system trades this morning.

1 hr shows a doji below 5454. 15 min neg close then 5 min lh.

5 min. There was a nice hammer then doji for a buy, not taken (Islander prob all over that one).

1hr still suggesting down, 15 min shooting star after the hammer so sells on again per 5 min lh at 5434.

The last sell as per this 5 min lh we exited at even number. Perhaps a bit early.

A good early session for system 3 set ups 3 winners.
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  • #823
  • Apr 27, 2010 2:45am Apr 27, 2010 2:45am
Quoting Vantage
Perfect system trades this morning.

1 hr shows a doji below 5454. 15 min neg close then 5 min lh.

5 min. There was a nice hammer then doji for a buy, not taken (Islander prob all over that one).

1hr still suggesting down, 15 min shooting star after the hammer so sells on again per 5 min lh at 5434.

The last sell as per this 5 min lh we exited at even number. Perhaps a bit early.

A good early session for system 3 set ups 3 winners.

Nicely done V....& Mrs V......
Trading Levels with WRBs
  • #824
  • Apr 27, 2010 2:47am Apr 27, 2010 2:47am
Quoting Islander
Nicely done V....& Mrs V......
Thanks, adding 15 min into rules is giving fewer trades but higher % win ratio so alls good.
  • #825
  • Apr 27, 2010 3:06am Apr 27, 2010 3:06am
Unfortunately I missed out on the second trade this morning. I just couldn't bring myself to go against the hammer on the 15min but with the shooting star and the 1HR bias down it was a high percentage trade. Oh well, still a pretty solid day. 100 pip move so far today so I'm not so sure we're going much lower, but you never know. Don't think I'll be looking for any more trades today though, especially shorts.

Quoting Vantage
Perfect system trades this morning.

1 hr shows a doji below 5454. 15 min neg close then 5 min lh.

5 min. There was a nice hammer then doji for a buy, not taken (Islander prob all over that one).

1hr still suggesting down, 15 min shooting star after the hammer so sells on again per 5 min lh at 5434.

The last sell as per this 5 min lh we exited at even number. Perhaps a bit early.

A good early session for system 3 set ups 3 winners.
  • #826
  • Apr 27, 2010 3:23am Apr 27, 2010 3:23am
Also, I'm curious, did you use the 5min chart to establish the first LH trade of the day? I used the 1min myself to get into that one simply because I like to see a smoother formation over a few candles of the LH / HL. Just wondering because although I've often seen you enter a LH formed over a couple candles, I've rarely seen you do so off a single bar like that.
  • #827
  • Apr 27, 2010 3:24am Apr 27, 2010 3:24am
Quoting Auron112
Unfortunately I missed out on the second trade this morning. I just couldn't bring myself to go against the hammer on the 15min but with the shooting star and the 1HR bias down it was a high percentage trade. Oh well, still a pretty solid day. 100 pip move so far today so I'm not so sure we're going much lower, but you never know. Don't think I'll be looking for any more trades today though, especially shorts.
After the 15 min inside bar 4 candles back we were careful. Didn't sell the next 15 min shooting star/5 min lh.

Saw our neighbour (major house renovations) and had a chat (public holiday here) and missed the 5 min double bottom/doji.
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  • #828
  • Apr 27, 2010 3:38am Apr 27, 2010 3:38am
I did take that doji but more as an Islander-style trade off the 5min. Don't really think that would fit into the HL / LH system, would it? I suppose now that it has resulted in a bullish outside bar on the 15min after the 102 pip move we can look to shift bias slightly though.


Quoting Vantage
After the 15 min inside bar 4 candles back we were careful. Didn't sell the next 15 min shooting star/5 min lh.

Saw our neighbour (major house renovations) and had a chat (public holiday here) and missed the 5 min double bottom/doji.
  • #829
  • Apr 27, 2010 3:42am Apr 27, 2010 3:42am
Quoting Auron112
Also, I'm curious, did you use the 5min chart to establish the first LH trade of the day? I used the 1min myself to get into that one simply because I like to see a smoother formation over a few candles of the LH / HL. Just wondering because although I've often seen you enter a LH formed over a couple candles, I've rarely seen you do so off a single bar like that.
Combo of time of day and 15/5 min agreeing.
  • #830
  • Apr 27, 2010 4:06am Apr 27, 2010 4:06am
Quoting Auron112
Unfortunately I missed out on the second trade this morning. I just couldn't bring myself to go against the hammer on the 15min but with the shooting star and the 1HR bias down it was a high percentage trade. Oh well, still a pretty solid day. 100 pip move so far today so I'm not so sure we're going much lower, but you never know. Don't think I'll be looking for any more trades today though, especially shorts.
Oh market, why do you toy with me so? And down we go... thought we would hold fairly steady until the news.
  • #831
  • Apr 27, 2010 4:39am Apr 27, 2010 4:39am
Quoting Auron112
Oh market, why do you toy with me so? And down we go... thought we would hold fairly steady until the news.
Hindsight is a wonderful thing, Mrs V and I discussed a fall to 5350 area as it was the daily range and the W pivot was just below but we didn't take the move below 5400.

Decent enough pips but not a good enough performance considering what has transpired.
  • #832
  • Apr 27, 2010 4:42am Apr 27, 2010 4:42am
Quoting Auron112
I did take that doji but more as an Islander-style trade off the 5min. Don't really think that would fit into the HL / LH system, would it?
A nice double bottom though which is close enough.

And now we think we are going for 5325 being a 38% ext of y's range and area where price struggled on 23rd.
  • #833
  • Apr 27, 2010 5:23am Apr 27, 2010 5:23am
Quoting Vantage
A nice double bottom though which is close enough.

And now we think we are going for 5325 being a 38% ext of y's range and area where price struggled on 23rd.
Having got there whilst a good place to buy I've lost interest, see tough area from daily chart going back to 19 Feb.

The lack of a bounce suggests poss more downside, TWT, but I'm outta here till tomorrow when we again tackle the problem of V's early exits!!!
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  • #834
  • Apr 27, 2010 8:34am Apr 27, 2010 8:34am
Quoting Vantage
Forgot, 8 lwma.
I meant the blue one on your 5min charts. I thought you used to use a 20 lwma but this one seems to be a higher one.

One more thing I was wondering was when you look at the 15 min chart do you wait for the current bar to close. For example say on the 15min chart the current bar is forming a shooting star and there are 5mins left before the bar closes. At the same time on the 5min chart there is a LH, would you take the trade now or wait for the 15min candle to close to see if closed as a shooting star or not?

Hope that makes sense.

Also to add a little something to the thread here is my one trade so far today, LH sell on EJ 5min out at 1:1 with +15. Let me know what you think of this trade please.

trublu
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  • #835
  • Apr 27, 2010 8:40pm Apr 27, 2010 8:40pm
V. I can assure you that you are not the only one with the "early exit" problem. I could buy a new Porsche 911 with what I have left on the table. Well, maybe a toy one. Regardless, I find your HL/LH strategy a great way to trade.

FYI - I have started to use this strategy on EURJPY around the Tokyo Open session for a few hours. That time suits me, here in Eastern Australia, although you are in the land of nod.
  • #836
  • Apr 27, 2010 11:28pm Apr 27, 2010 11:28pm
Quoting orientos
I could buy a new Porsche 911 with what I have left on the table. Well, maybe a toy one.

LOL! Sydney?
  • #837
  • Apr 28, 2010 1:15am Apr 28, 2010 1:15am
Quoting trublu
I meant the blue one on your 5min charts. I thought you used to use a 20 lwma but this one seems to be a higher one.

One more thing I was wondering was when you look at the 15 min chart do you wait for the current bar to close. For example say on the 15min chart the current bar is forming a shooting star and there are 5mins left before the bar closes. At the same time on the 5min chart there is a LH, would you take the trade now or wait for the 15min candle to close to see if closed as a shooting star or not?

Hope that makes sense.

Also to...
Its a 30 ema, Mrs V likes that one. Don't get hung u about which ma. Its just a visual clue really maing a hl/lh easy to see. There are other uses eg Islanders methods.

If I've got a strong contra 15 min candle I'll wait for candle in my direction to close. If I'm looking to sell and 15 min candle is a low vol low range up, or a doji or similar I won't necessarily wait for another 15 min neg close. So in a nutshell it depends on the candle.

Looks like a nice trade at the end of a move so no problem banking those pips.
  • #838
  • Apr 28, 2010 1:16am Apr 28, 2010 1:16am
No - north- east Victoria near Benalla. Where you?
  • #839
  • Apr 28, 2010 1:30am Apr 28, 2010 1:30am
Quoting orientos
I have started to use this strategy on EURJPY around the Tokyo Open session for a few hours. That time suits me, here in Eastern Australia, although you are in the land of nod.
Post some of those trades if you like.
  • #840
  • Apr 28, 2010 1:42am Apr 28, 2010 1:42am
I'll be away for a few days so will post some next week. BUT - I have no idea how to do that. Can you assist please?
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