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Higher low, lower high system

  • #1,001
  • May 17, 2010 3:14am May 17, 2010 3:14am
And I sold it too - out -15. Now you have me really confused - I thought LO was over an hour prior to your entry? Can you advise please?
  • #1,002
  • May 17, 2010 3:21am May 17, 2010 3:21am
Quoting orientos
And I sold it too - out -15. Now you have me really confused - I thought LO was over an hour prior to your entry? Can you advise please?
Most people say that, Mrs V and I have 2 LO's 8 and 9 their time. We also are of view that if pa is not erratic we'll take the trade. So won't get in too much trouble with Mrs V, she's still getting over her pneumonia.
  • #1,003
  • May 17, 2010 3:29am May 17, 2010 3:29am
Quoting Vantage
Sold the 5 min lh at 4369 out -16.
I was watching this one but the 15min doji kept me out. I was however willing to short if we broke the hammer's low a couple bars before since that would take that doji out of the equation. Any reason the 15min doji didn't make you look for the breakout entry?
  • #1,004
  • May 17, 2010 3:30am May 17, 2010 3:30am
I understand re 2 x LO's. Thanks V.
  • #1,005
  • May 17, 2010 3:36am May 17, 2010 3:36am
Quoting Auron112
I was watching this one but the 15min doji kept me out. I was however willing to short if we broke the hammer's low a couple bars before since that would take that doji out of the equation. Any reason the 15min doji didn't make you look for the breakout entry?
Quite simply I think I was (a) too optimistic in the overall downtrend, (b) made a mistake not seeing 15 min candle for what it was and (c) prob a little pee'd off at that exited trade above 4400.

If I'm going to make a mistake I'm at least happy it was following 1hr, with a 5 min lh and that the warning (not followed) was the lack of follow through in that 15 min candle.
  • #1,006
  • May 17, 2010 3:43am May 17, 2010 3:43am
Quoting Vantage
Quite simply I think I was (a) too optimistic in the overall downtrend, (b) made a mistake not seeing 15 min candle for what it was and (c) prob a little pee'd off at that exited trade above 4400.

If I'm going to make a mistake I'm at least happy it was following 1hr, with a 5 min lh and that the warning (not followed) was the lack of follow through in that 15 min candle.
Understood. I can definitely see what you're saying here. I also thought it had a high likelihood to break downward and had my finger very close to the button given the 5min PA. Decided very late in the decision making process to go with the conservative route simply because it's a Monday, and I always have some trouble getting a good feel for Mondays. Think more often than not given the conditions though you would have been making the call with a better expectancy.
  • #1,007
  • May 17, 2010 3:47am May 17, 2010 3:47am
Quoting Auron112
Understood. I can definitely see what you're saying here. I also thought it had a high likelihood to break downward and had my finger very close to the button given the 5min PA. Decided very late in the decision making process to go with the conservative route simply because it's a Monday, and I always have some trouble getting a good feel for Mondays. Think more often than not given the conditions though you would have been making the call with a better expectancy.
Yes Mon and Fri mornings can be strange.

Didn't take the 2nd 1 min lh sell at 4413.
  • #1,008
  • May 17, 2010 4:06am May 17, 2010 4:06am
Quoting Vantage
Yes Mon and Fri mornings can be strange.

Didn't take the 2nd 1 min lh sell at 4413.
Man, I still just can't get a good grasp on your 1min stuff. What had you looking at a possible 1min entry here? The 15min did fail to break higher and formed a small IB, so that gives some bias. However, the 1HR candle looks sure to close against you, to close bullish, so wouldn't that be fighting the 1HR close and the 1HR 8LWMA?

Maybe that's exactly why you passed, but what did you see that had you looking for a possible 2nd LH 1min short to begin with? Thanks for answering my 1min questions for the umpteenth time, Vantage.
  • #1,009
  • May 17, 2010 4:40am May 17, 2010 4:40am
Quoting Auron112
Man, I still just can't get a good grasp on your 1min stuff. What had you looking at a possible 1min entry here? The 15min did fail to break higher and formed a small IB, so that gives some bias. However, the 1HR candle looks sure to close against you, to close bullish, so wouldn't that be fighting the 1HR close and the 1HR 8LWMA?

Maybe that's exactly why you passed, but what did you see that had you looking for a possible 2nd LH 1min short to begin with? Thanks for answering my 1min questions for the umpteenth time, Vantage.
Ths is the 2nd 1 min lh that I mentioned.

Having talked about these a couple of times when I saw it thought I should say I'm not taking it because I'm not comfortable with the pa and whats been unfolding.

So it seems you have a very good grasp!!!!! The hourly was headed up, when I saw the 2nd 1 min lh the 15 min candle had not yet closed so on 15 min candles we were still looking up.

A few candles to right the there was another 1 min lh and the 15 min candle had closed neg by that time. I didn't take it then either. IF I HAD I would have again moved stop to BE around +10. In this instance that BE move would have saved a loss as price carried on up.
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  • #1,010
  • May 17, 2010 4:46am May 17, 2010 4:46am
This is a system trade buy that I didn't take, moved to far to start buying now and the last 15 min candle had a bit of an upper wick. 100% system though.

These days do happen, big downtrend just thinking where to sell and miss out on moves up. Thats OK maybe US session will bring big move down and if not there's always tomorrow.

Thats the beauty of this method there'l be the odd days where either you miss read the market and miss out, no biggy as most days will give good solid trades.
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  • #1,011
  • May 17, 2010 4:52am May 17, 2010 4:52am
Quoting Vantage
Ths is the 2nd 1 min lh that I mentioned.

Having talked about these a couple of times when I saw it thought I should say I'm not taking it because I'm not comfortable with the pa and whats been unfolding.

So it seems you have a very good grasp!!!!! The hourly was headed up, when I saw the 2nd 1 min lh the 15 min candle had not yet closed so on 15 min candles we were still looking up.

A few candles to right the there was another 1 min lh and the 15 min candle had closed neg by that time. I didn't take it then either. IF I HAD I would have...
Yeah, I figured you were talking about that one. Thanks for the explanation, Vantage.
  • #1,012
  • May 17, 2010 4:52am May 17, 2010 4:52am
Quoting Vantage
Strange morning, when will we fall. Thought 4400 then 4425 (an area that gave a little supp in Asian session and then fell through there nicely). 4425-50 could be areas and if not back up to 4500.
Perhaps a lh below 4450, still on hl's now though.
  • #1,013
  • May 17, 2010 5:15am May 17, 2010 5:15am
Sold the 5 min lh entry a little late at 4016, stop BE already though.
  • #1,014
  • May 17, 2010 5:29am May 17, 2010 5:29am
Quoting Vantage
Sold the 5 min lh entry a little late at 4016, stop BE already though.
Eur was not confirming the fall so (I feel lucky to have) exited at +23.

We were above the 1hr 8lwma but 1hr closed lower as had 15 min, nice 5 min lh.
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  • #1,015
  • May 17, 2010 5:35am May 17, 2010 5:35am
This is the eur chart that made me exit gu trade.
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  • #1,016
  • May 17, 2010 5:41am May 17, 2010 5:41am
Quoting Vantage
This is the eur chart that made me exit gu trade.
TOD (aka the old dear aka my mom) just got back from her blue rinse brigate morning tea, Mrs V still sick and wants lunch so I have to do the honours.

My cooking has vastly improved over the last week. My chillie con carne (2nd best in the southern hemisphere, theres a lady in Sydney does a good 'un but thats another story) has a chicken special pushing at its heels.

Hopefully be back soon.
  • #1,017
  • May 18, 2010 2:30am May 18, 2010 2:30am
There were several nice HL's early in the session, neither of which I took (unfortunately) because of their proximity to todays open. I did take the next HL and entered once the M15 hammer was broken. Out at the RN for +21 - out too soon as usual.
  • #1,018
  • May 18, 2010 2:41am May 18, 2010 2:41am
I also missed the earlier trades getting the household under way this am.

Mrs V still sick but made a rare appearance this am. She sold the arrow down (15 min doji) entry 4478 for + 10 when it didn't want to go lower the 2nd time.

Arrow up is perfect system trade I think thats the one you meant O.

See your 1 hr charts the whole area from 4490 to the W M2 pivot 4513 good general area for reversals (14 May) .
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  • #1,019
  • May 18, 2010 2:50am May 18, 2010 2:50am
Morning all,
+4 on the first HL @ 07:15 GMT (closed far too late), missed the second and +19 on the third. Much better than a slap in the face with a wet fish (as they say here, lol..)

Selling the doji down, now that is what I call dancing with price
  • #1,020
  • May 18, 2010 2:55am May 18, 2010 2:55am
Quoting Royston
Selling the doji down, now that is what I call dancing with price
I am looking at trading more 'classic' 15 min candles that don't comly with this system. Its a work in progress we'll see if it comes of, TWT.
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