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Higher low, lower high system

  • #1,061
  • May 20, 2010 4:02am May 20, 2010 4:02am
Quoting Vantage
Sticky mmmh didn't know how to describe it. Discreetly lower highs in the instance yesterday but gu didn't want to fall. So if you sell the normal low -1 pip then theres a good chance of a small stop getting hit. Price bounces up but cannot break higher giving another lh. If we see a few candles like that we'll consider OK we are on lh's, we're in downtrend but normal entry a bit risky. If price bounces up 10+ pips on gu we'll look at 1 min entry on same basis as 5 min ie lh, right candle, cross of 1 min 8lwma.

Stops the same 15 pips on normal...
So if I'm understanding this right, what you're mostly describing here is a re-entry technique on the 1min if you've already been stopped out of the 5min LH? I suppose it could be used if the initial entry was missed as well and price is chopping around but still forming LHs, but it seems like most often it would be used for re-entry.
  • #1,062
  • May 20, 2010 5:16am May 20, 2010 5:16am
Quoting Auron112
So if I'm understanding this right, what you're mostly describing here is a re-entry technique on the 1min if you've already been stopped out of the 5min LH? I suppose it could be used if the initial entry was missed as well and price is chopping around but still forming LHs, but it seems like most often it would be used for re-entry.
Its similar to the re-entry idea but in these cases its before we've been stopped out. Its to try and get an entry 10+ pips better to have a chance to get stop to BE if there is a big reaction to the area that price has struggled at. Have we at times been stopped out at BE yes, have we missed some moves because of that yes. Have we at times saved losing trades and gotten better entries you betcha.
  • #1,063
  • May 20, 2010 7:29am May 20, 2010 7:29am
Did you have any trades today Vantage? Just wondering because I didn't find anything that I liked enough to take on GU, EJ or EU. Given the horrible price action though, I really wasn't looking too hard to find a trade to take with this method today.
  • #1,064
  • May 20, 2010 7:32am May 20, 2010 7:32am
This morning was not very nice. Patience was rewarded when gu and ej had decent 1hr closes lower (little or no lower wick) 100% system trades followed.

We were focused on gu. Gu and ej 5 min shown see arrow down both trades came at the same time.
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  • #1,065
  • May 20, 2010 7:48am May 20, 2010 7:48am
Quoting Auron112
Did you have any trades today Vantage? Just wondering because I didn't find anything that I liked enough to take on GU, EJ or EU. Given the horrible price action though, I really wasn't looking too hard to find a trade to take with this method today.
We had 1 hl buy this am which Mrs V liked on gu 9.35 fxpro time. There was a lh we both liked on gu 11.10 fxpro time but as that was close to UK news we didn't take. We'll have to reconsider staying out of trades on UK news and take trades as they happen (on all but highest news days such as int rate decision days).

Mid London there was a nice lh trade which I have just posted above.

We'll take 100% system trades ie following 1hr/15 min/5 min as described here. Also hl/lh's at start of sessions aka as 1 2 3 tops/bottoms (they may not have 1hr set up candles but should have some form of decent 15 min candles).
  • #1,066
  • May 20, 2010 7:52am May 20, 2010 7:52am
Oh Auron I forgot to mention like today instead of sitting in front of computer we'll happily walk away come back 5 mins before 1hr closes and if that looks good we'll hang around. Today that was somewhat easier, when we had the 1st buy that never followed through I had no confidence in further buys and was happy to walk away until we had the 1hr closes at bottom of the range (no lower wick was a great signal of more downside in direction of the trend). Still exiting too early and I missed the push below 1.4300 but we are working on that.
  • #1,067
  • May 20, 2010 9:21am May 20, 2010 9:21am
I'm sure it will fall further but 30 pips to finish day is fine with this system sell. We are near lows of last 2 days and we could bounce and take out this nice little 3% trade.
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  • #1,068
  • May 21, 2010 3:11am May 21, 2010 3:11am
GM. No luck with finding a trade on G/U so far today. Was watching E/J and took a nice set-up for +17 pips, after it quickly reversed from +27. I was just too slow to exit, and of course it then went down furter.
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  • #1,069
  • May 24, 2010 2:27am May 24, 2010 2:27am
Quoting orientos
GM. No luck with finding a trade on G/U so far today. Was watching E/J and took a nice set-up for +17 pips, after it quickly reversed from +27. I was just too slow to exit, and of course it then went down furter.
I was out for most of Fri.

Still a nice little trade.

Can you post the recent candles indi at the bottom of your chart, thanks in advance.
  • #1,070
  • May 24, 2010 2:29am May 24, 2010 2:29am
With vol about half normal levels (half Europe on hols) the move up caught me a little by surprise. Still looking for places to sell hopefully it won't take until US session.
  • #1,071
  • May 24, 2010 2:32am May 24, 2010 2:32am
Quoting Vantage
Can you post the recent candles indi at the bottom of your chart, thanks in advance.

Aha I see the recent candles thread is here at FF.
  • #1,072
  • May 24, 2010 2:48am May 24, 2010 2:48am
See attached.........with thanks to Bboiss.
Attached File(s)
File Type: ex4 Recent Candles.ex4   31 KB | 432 downloads
  • #1,073
  • May 24, 2010 3:02am May 24, 2010 3:02am
Quoting orientos
See attached.........with thanks to Bboiss.
Cheers.

Stepped away from computer and missed this perfect set up that I was waiting for. Oh well another set up coming ..........
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  • #1,074
  • May 24, 2010 3:08am May 24, 2010 3:08am
I missed that one too, along with an identical one on EJ.
  • #1,075
  • May 24, 2010 3:26am May 24, 2010 3:26am
Quoting orientos
I missed that one too, along with an identical one on EJ.
Yep but I have to go out soon so a 70 pip perfect system trade no brainer would have been lovely, switch off computer and go.

Oh well we'll just have to console ourselves with the fact that set ups like this come most days.
  • #1,076
  • May 24, 2010 3:52am May 24, 2010 3:52am
.........and come they will. Had I taken that trade I probably would have exited at Today's Open (for a miserable +25 or so. LOL)

I did take a non-standard trade on EJ. At 11:05 FXPro there was a LH in formation and I entered during the candle because the M60 and M15 candles were all red and screaming "sell", there was a break of a RN (50) as well as the break of an IS bar. Out +21, and need I say it, too early as usual.
  • #1,077
  • May 24, 2010 3:56am May 24, 2010 3:56am
Quoting orientos
.........and come they will. Had I taken that trade I probably would have exited at Today's Open (for a miserable +25 or so. LOL)

I did take a non-standard trade on EJ. At 11:05 FXPro there was a LH in formation and I entered during the candle because the M60 and M15 candles were all red and screaming "sell", there was a break of a RN (50) as well as the break of an IS bar. Out +21, and need I say it, too early as usual.

Yep but with COT overwhelmingly neg for pound I'm pretty sure I'd have been in the ride (or resold) for at least the (often mentioned) 125 pip range down to the W pivot 4410, 50% of Fri's range 4400 combo.
  • #1,078
  • May 25, 2010 2:39am May 25, 2010 2:39am
Very difficult trade this morning. I had no patience to hold the position.
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  • #1,079
  • May 25, 2010 2:45am May 25, 2010 2:45am
Quoting Happy68
Very difficult trade this morning. I had no patience to hold the position.
Tough luck that one, the best entry so far.

EJ had a perfect set up but we had pound up and missed.
  • #1,080
  • May 25, 2010 3:24am May 25, 2010 3:24am
No trades for me so far, and I also missed that beautiful EJ set up. Was doing some research on trading the first 2 hours of Tokyo (sorry, too early for you V) and it looks pretty good, at least for the last 2 weeks or so. And now we are about to have News ...............
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