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Higher low, lower high system

  • #941
  • May 12, 2010 2:08am May 12, 2010 2:08am
Quoting orientos
Sorry to hear that Mrs. V. is not very well and we wish her all the best. No bending the rules while she is away!
Will do. And yes bending rules would result in certain parts of my anatomy getting removed with a blunt spoon.
  • #942
  • May 12, 2010 2:39am May 12, 2010 2:39am
I took a HL entry 10 mins after LO. The M60 was a Doji (I think - not too good on candle types) and with the M15 waited until the current bar broke the high on the previous bar. PA was above the M60 8 lwma. Bit of a mixed bag I guess.
Exited when PA approached the 50 RN which was at confluence with Todays Open. +20.
Price has gone on another 40 pips, as I type this. I need a better exit plan!
  • #943
  • May 12, 2010 2:49am May 12, 2010 2:49am
Quoting orientos
I took a HL entry 10 mins after LO. The M60 was a Doji (I think - not too good on candle types) and with the M15 waited until the current bar broke the high on the previous bar. PA was above the M60 8 lwma. Bit of a mixed bag I guess.
Exited when PA approached the 50 RN which was at confluence with Todays Open. +20.
Price has gone on another 40 pips, as I type this. I need a better exit plan!
Not actually sure if thats a hammer or type of doji, who cares, massive lower wick. The 15 min high vol shooting star threw me a little so I didn't take the 5 min hl. Once it broke the top of that hammer did give a great trade.

I didn't sleep well at well last night and haven't been looking at charts for trading. Off on another reseach tangent.
  • #944
  • May 12, 2010 2:55am May 12, 2010 2:55am
Quoting orientos
I took a HL entry 10 mins after LO. The M60 was a Doji (I think - not too good on candle types) and with the M15 waited until the current bar broke the high on the previous bar. PA was above the M60 8 lwma. Bit of a mixed bag I guess.
Exited when PA approached the 50 RN which was at confluence with Todays Open. +20.
Price has gone on another 40 pips, as I type this. I need a better exit plan!
Hi O
I know how you feel, hindsight is a wonderful thing, you can watch out for candles in move up that have little or no upper wick. There was little pause at DO just above 4950, and not much at the 75 level. There is a big confluence of targets at 1.50, M M1 4997 and Y's high just above there.
  • #945
  • May 12, 2010 3:03am May 12, 2010 3:03am
Quoting orientos
I took a HL entry 10 mins after LO. The M60 was a Doji (I think - not too good on candle types) and with the M15 waited until the current bar broke the high on the previous bar. PA was above the M60 8 lwma. Bit of a mixed bag I guess.
Exited when PA approached the 50 RN which was at confluence with Todays Open. +20.
Price has gone on another 40 pips, as I type this. I need a better exit plan!
O not thinking straight at all this morning. You know one of the general things I talk about London session 125 pips right. Once the low was hit at 4860 and that shooting star was taken out at 4930 odds were it would reach for range up to 4985 area. Just thought of that now.
  • #946
  • May 12, 2010 3:03am May 12, 2010 3:03am
Quoting orientos
I took a HL entry 10 mins after LO. The M60 was a Doji (I think - not too good on candle types) and with the M15 waited until the current bar broke the high on the previous bar. PA was above the M60 8 lwma. Bit of a mixed bag I guess.
Exited when PA approached the 50 RN which was at confluence with Todays Open. +20.
Price has gone on another 40 pips, as I type this. I need a better exit plan!
Same trade, +25 for me.
  • #947
  • May 12, 2010 3:06am May 12, 2010 3:06am
Thanks for the comments V. I do appreciate your assistance. There's a nice HL under way on E/J, but entry was just below the DP so I didn't take it.
  • #948
  • May 12, 2010 3:08am May 12, 2010 3:08am
Nice Royston, and there goes the Yearly High. Wow...........
  • #949
  • May 13, 2010 3:10am May 13, 2010 3:10am
And of course I meant to say Yesterdays High..........

I have been trading EJ and GU with some difficulty today. GU had a nice HL 10 mins before FO which I didn't take as it's against my rules. There was a second HL at FO which I missed. Another one presented 30 mins later but the 15M candle had a negative close. So, no trades for me on GU.
With EJ pretty much the same story with a nice HL just before FO. Didn't take. Fed up with all these lost opportunities I took a Double Bottom trade towards the end of FH (M60 and M15 candles were fine) and exited +15.
  • #950
  • May 13, 2010 3:24am May 13, 2010 3:24am
[quote=orientos;3720433]And of course I meant to say Yesterdays High..........

quote]

Was wondering, sell poss on now similar to earlier sell. Being the reject of 5 min hammer lows.
  • #951
  • May 13, 2010 3:28am May 13, 2010 3:28am
A stretch on the lower high but looked really good on 1 min. When the 9.25 gmt I think it is, 2 hammers 4887 low failed got entry at 4885. Again looked perfect lh on 1 min.

If the candles aren't looking right then thats the best I think, a failure of lower/upper wicks of hammers/shooting stars normally decent trades.
  • #952
  • May 13, 2010 3:31am May 13, 2010 3:31am
Just tried to sell again and got no connection, crappy SA overpriced crappy internet. So many things here are world class (you'd be surprised sometimes world leading) but crappy monolopy style rip off internet isn't one of them.

I just wish I'd jump off the fence on this issue.
  • #953
  • May 13, 2010 3:33am May 13, 2010 3:33am
Quoting Vantage
Just tried to sell again and got no connection, crappy SA overpriced crappy internet. So many things here are world class (you'd be surprised sometimes world leading) but crappy monolopy style rip off internet isn't one of them.

I just wish I'd jump off the fence on this issue.
A very quick 50 pips missed.

The first entry and 2nd missed one.
Attached Image (click to enlarge)
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  • #954
  • May 13, 2010 3:36am May 13, 2010 3:36am
[quote=Vantage;3720462]
Quoting orientos
And of course I meant to say Yesterdays High..........

quote]

Was wondering, sell poss on now similar to earlier sell. Being the reject of 5 min hammer lows.
The above trade missed was this comment here. As the hammer lows failed on 1 min, as I pressed to enter lost connection.
  • #955
  • May 13, 2010 3:38am May 13, 2010 3:38am
Quoting orientos
And of course I meant to say Yesterdays High..........

I have been trading EJ and GU with some difficulty today. GU had a nice HL 10 mins before FO which I didn't take as it's against my rules. There was a second HL at FO which I missed. Another one presented 30 mins later but the 15M candle had a negative close. So, no trades for me on GU.
With EJ pretty much the same story with a nice HL just before FO. Didn't take. Fed up with all these lost opportunities I took a Double Bottom trade towards the end of FH (M60 and M15 candles were fine) and...
I didn't get any of move up into LO. There was a nice hammer 5 mins prior to LO didn't take it though.
  • #956
  • May 13, 2010 3:40am May 13, 2010 3:40am
I would never have considered a trade there as news was due in a few mins. However it sure worked (this time)
Your advice on wicks is noted. Many thanks.
  • #957
  • May 13, 2010 3:41am May 13, 2010 3:41am
Quoting orientos
I would never have considered a trade there as news was due in a few mins. However it sure worked (this time)
Your advice on wicks is noted. Many thanks.
You are right I completely lost track of time on news.
  • #958
  • May 13, 2010 3:42am May 13, 2010 3:42am
Quoting orientos
I would never have considered a trade there as news was due in a few mins. However it sure worked (this time)
Your advice on wicks is noted. Many thanks.
Having pressed the button though a pity as it would have taken ROI for the day to 8%.
  • #959
  • May 13, 2010 3:48am May 13, 2010 3:48am
Quoting orientos
I would never have considered a trade there as news was due in a few mins. However it sure worked (this time)
Your advice on wicks is noted. Many thanks.
Hi O
Failure of wicks often a good trade, the pre London move up was a fake out and the fall was in line with y's big down day. Giving a lot of reason to trade the failure of the hammer lows.

I think Malcolmb and Islander/Medici all of the view that pre LO moves most often fakes, I'm happy to bank FH pips and respect their opinons especially if its a move that resuts in y's move being respected. If I remember my numbers something like 70% of the time good trades will follow a previous days close/candle.
  • #960
  • May 13, 2010 3:53am May 13, 2010 3:53am
Oh have a look at the above 1 min chart post 953.

All that 5 min failure of hammer lows co-incided with the 2nd 1 min lh. Mrs V loves 1 min charts 2nd hl/lh at places where we think will turn and when it does as mentioned above to run in line with prev day ............ love them.
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