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Higher low, lower high system

  • #1,021
  • May 18, 2010 2:55am May 18, 2010 2:55am
Morning V. Yes - your arrow up is the trade I took, thanks to your excellent strategy. Slightly off thread, but on the reversal from the new HOD I took the first LH on thr M1 chart (small lots) and out at +18.

Glad to see that Mrs.V. is up and around and I note that she has already made a significant improvement to trading in your household.
  • #1,022
  • May 18, 2010 2:57am May 18, 2010 2:57am
BTW what does TWT mean?
  • #1,023
  • May 18, 2010 3:01am May 18, 2010 3:01am
Quoting orientos
BTW what does TWT mean?
Time will tell.

Mrs V back in bed pneumonia not to be messed with and the fact thats she's sick and left shows how sick she is. She is a founder member of the I'm having the last word society. It takes all my I'm having the last word skills to win out sometimes.

Just so you know this is a joke in reality we try and have a fight every 3 or 4 years just to know what its like. Things run pretty calmly here 99.9% of the time.
  • #1,024
  • May 18, 2010 3:02am May 18, 2010 3:02am
Quoting orientos
Morning V. Yes - your arrow up is the trade I took, thanks to your excellent strategy. Slightly off thread, but on the reversal from the new HOD I took the first LH on thr M1 chart (small lots) and out at +18.
In a high prob reverse area thats a nice trade.
  • #1,025
  • May 18, 2010 3:09am May 18, 2010 3:09am
Mindful of the mistake I made yesterday at the same time, I haven't taken this lower high due to the hammer on 15 min.
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  • #1,026
  • May 18, 2010 3:57am May 18, 2010 3:57am
Quoting orientos
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.
Took the same HL as well. Beautiful setup. I was also watching the earlier ones go by because of the open level. I was also watching EJ but had the same issues there. Because of all this, I took a very rare EU long at 7:20. Same sort of setup, good price action (nicer than GU and EJ, I thought) and some room to move before London Open. I closed in the very last spike just before LO. Overall, GU trades are fantastic, but every once in a while when everything looks great but you just don't like the levels, the EJ and EU are worth a look in my opinion. The EU did take some time to make its move though...
  • #1,027
  • May 18, 2010 4:06am May 18, 2010 4:06am
Quoting Auron112
Took the same HL as well. Beautiful setup. I was also watching the earlier ones go by because of the open level. I was also watching EJ but had the same issues there. Because of all this, I took a very rare EU long at 7:20. Same sort of setup, good price action (nicer than GU and EJ, I thought) and some room to move before London Open. I closed in the very last spike just before LO. Overall, GU trades are fantastic, but every once in a while when everything looks great but you just don't like the levels, the EJ and EU are worth a look in my opinion....
Nice, pls feel free to post other charts eu and ej.
  • #1,028
  • May 18, 2010 4:09am May 18, 2010 4:09am
Quoting Vantage
Nice, pls feel free to post other charts eu and ej.
I think you mean this one. Double bttm MACD divergence, cross of ALF line, ooops wrong thread. Nice trade.
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  • #1,029
  • May 18, 2010 4:10am May 18, 2010 4:10am
Quoting Vantage
Nice, pls feel free to post other charts eu and ej.
Yeah, I'll post one. I just didn't want to do it while still trading. I always take a while when I put one together.
  • #1,030
  • May 18, 2010 4:24am May 18, 2010 4:24am
4400 to 4415 an obvious supp area from late Asia/early euro session

The latest small bounce to below 4450 suggests further downside we'll see.
  • #1,031
  • May 18, 2010 5:03am May 18, 2010 5:03am
Quoting Vantage
4400 to 4415 an obvious supp area from late Asia/early euro session

The latest small bounce to below 4450 suggests further downside we'll see.
GU - Another 5 min lh but 1hr a doji suggests pause/move up. 15 min a no follow through move up suggests down.

I still think down but where to get in, on the side for now.
  • #1,032
  • May 18, 2010 5:14am May 18, 2010 5:14am
Quoting Auron112
I was also watching EJ but had the same issues there. Because of all this, I took a very rare EU long at 7:20. Same sort of setup, good price action (nicer than GU and EJ, I thought) and some room to move before London Open. I closed in the very last spike just before LO. Overall, GU trades are fantastic, but every once in a while when everything looks great but you just don't like the levels, the EJ and EU are worth a look in my opinion. The EU did take some time to make its move though...
Chart below.
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  • #1,033
  • May 18, 2010 5:21am May 18, 2010 5:21am
Quoting Auron112
Chart below.
Nice.

BUOB pls enlighten those none James 16 fans. If you want to list the various James 16 candles that would be great too.
  • #1,034
  • Edited 5:56am May 18, 2010 5:45am | Edited 5:56am
Quoting Vantage
Nice.

BUOB pls enlighten those none James 16 fans. If you want to list the various James 16 candles that would be great too.
Sure thing. Few terms I tend to throw around, you can Google them or check the James16 Price Action thread if you don't know what they are:

IB - Inside Bar
BUOB - Bullish Outside Bar
BEOB - Bearish Outside Bar
DBHLC - Double High Low Close
DBLHC - Double Low High Close (I rarely use these ones anymore)
Pin Bar - Just a hammer or a shooting star or similar price bar

Hmm, sure there's more than that, but I don't think I really use the other ones. If I forgot one and use it later though, I'll be sure to define it.
  • #1,035
  • May 18, 2010 8:03am May 18, 2010 8:03am
Quoting Auron112
Sure thing. Few terms I tend to throw around, you can Google them or check the James16 Price Action thread if you don't know what they are:

IB - Inside Bar
BUOB - Bullish Outside Bar
BEOB - Bearish Outside Bar
DBHLC - Double High Low Close
DBLHC - Double Low High Close (I rarely use these ones anymore)
Pin Bar - Just a hammer or a shooting star or similar price bar

Hmm, sure there's more than that, but I don't think I really use the other ones. If I forgot one and use it later though, I'll be sure to define it.
Thanks Auron
Most are self explanatory, inside bars, engulfing candles and hammers/shooting stars. The DBHLC and the DBLHC are perhaps not so obvious. I usually have referred to them along the lines of no follow through candles but these are much better.

DBHLC candles have double top highs and the last close is lower than the previous close ie top likely rejecting.
DBLHC candles have double bottom lows and the last close is higher than the previous close ie bottom likely rejecting.
  • #1,036
  • May 19, 2010 2:16am May 19, 2010 2:16am
GM. I've had just one trade so far - on E/J for +21. It was a nice HL about 35 mins after FO.
Have been trying to watch both G/U and E/J lately, although it's a little taxing on my feeble brain.
That was a wild LO - might mess up candle patterns for a while.
  • #1,037
  • May 19, 2010 2:35am May 19, 2010 2:35am
Quoting orientos
GM. I've had just one trade so far - on E/J for +21. It was a nice HL about 35 mins after FO.
Have been trying to watch both G/U and E/J lately, although it's a little taxing on my feeble brain.
That was a wild LO - might mess up candle patterns for a while.
I passed this because of the candle on 1 h chart - hanging man . Was that not problem for you?
  • #1,038
  • May 19, 2010 3:12am May 19, 2010 3:12am
Hi Happy - I understood that bar to be a doji (indecision?) but I must admit that I am not that knowledgeable on candlesticks. Anyway, once the close of that bar was broken upwards, I entered. M15 was fine. Sometimes it pays to be ignorance, I guess. This time it worked out.
  • #1,039
  • May 19, 2010 3:24am May 19, 2010 3:24am
Quoting orientos
GM. I've had just one trade so far - on E/J for +21. It was a nice HL about 35 mins after FO.
Have been trying to watch both G/U and E/J lately, although it's a little taxing on my feeble brain.
That was a wild LO - might mess up candle patterns for a while.
Nice trade, I saw that and the hl on eu (not as nice a candle as ej though) but without any faith in their moves up I didn't take. Again though thats a nice one.
  • #1,040
  • May 19, 2010 3:30am May 19, 2010 3:30am
I often get asked when do I use 1 min entries, this is one that I always forget to mention. In erractic pa earlier 4325 was a bit of an issue, so if you think you have direction right gu can easily bounce 10+ pips and give you a better entry. We were clearly on lh's on 5 min chart just got some better entries.

Here is a 1 min entry taken for + 15 (there was a small winner before that also, the prev 1 min lh fall sell 4332). With MPC mins due shortly I exited when y's low held 2nd time.
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