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Higher low, lower high system

  • #1,141
  • May 31, 2010 1:37am May 31, 2010 1:37am
Fri was an inside bar down day. Not sure which way the market will take us today. With UK and US hols I might just take a day off we'll see.

I'll be following the 1hr in any event. Here's a 1hr line chart showing a little clearer the important levels.
Attached Image (click to enlarge)
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  • #1,142
  • May 31, 2010 1:52am May 31, 2010 1:52am
Yep - today may not bring us many trading opportunities, but TWT. In the meantime I have had 2 non-system trades on the M1 chart using psych levels and HL/Lh's for +6 and +12 (just small lots).
  • #1,143
  • Edited 9:42am May 31, 2010 1:58am | Edited 9:42am
Quoting orientos
Yep - today may not bring us many trading opportunities, but TWT. In the meantime I have had 2 non-system trades on the M1 chart using psych levels and HL/Lh's for +6 and +12 (just small lots).
Wasn't even looking, Mrs V taking day off, already back upstairs reading. I was doing a blog post trying to get out my ideas on trading bounces from key levels.
  • #1,144
  • May 31, 2010 2:30am May 31, 2010 2:30am
Quoting orientos
Hi Auron - just tried your template and it works fine for me (FXPro and XP Pro) with the exception that there is no Vantage positive close window. However that is easy enough to load up.
If you're talking about the V System Chart Indicator (aka Bullseye) then there is a good reason it didn't load - I don't use it.

Not that's there's anything wrong with it...
  • #1,145
  • May 31, 2010 2:46am May 31, 2010 2:46am
Quoting Vantage
Here's a 1hr line chart showing a little clearer the important levels.
Hi, V, quite long time, no communicate (I've been staying away from forums in general) : I see your method continues to evolve whilst staying fundamentally the same. A good sign imho.

Are you using line charts much ? I have an M1 line chart up in recent weeks, although since reading Al Brooks' excellent book over the last few months (it's a slow read), I'm trading off the M5 for the first time in years (almost exclusively FDAX during the European morning only).

Congrats on the blog, duly bookmarked.
  • #1,146
  • Edited 8:18am May 31, 2010 8:13am | Edited 8:18am
Dear friends,
I think avoiding bad trades is equally as important as picking up the good ones. please feel free to comment as hard as u can.

1. H1, arrowed entry bar, previous bar 'all green'
2. M15, Arrowed bar was completed before my entry.
3. M5, arrowed entry bar, stopped out very quickly by the 2 highlighted red bars.

Reason for entry.
Hrly looks good, Daily's high taken out. No imminent resistance. Volume looks ok.

Perhaps...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: hllh trade 002 h1_gu.gif Size: 24 KB
Click to Enlarge Name: hllh trade 002 m15_gu.gif Size: 23 KB
Click to Enlarge Name: hllh trade 002 m5_gu.gif Size: 21 KB
  • #1,147
  • May 31, 2010 8:56am May 31, 2010 8:56am
Quoting jtrade
Hi, V, quite long time, no communicate (I've been staying away from forums in general) : I see your method continues to evolve whilst staying fundamentally the same. A good sign imho.

Are you using line charts much ? I have an M1 line chart up in recent weeks, although since reading Al Brooks' excellent book over the last few months (it's a slow read), I'm trading off the M5 for the first time in years (almost exclusively FDAX during the European morning only).

Congrats on the blog, duly bookmarked.
Hi jtrade nice to chat again. I hope you and your trading are well.

Yes I can make changes/develop provided Mrs V is happy (I can't just change I've got to actually prove its worthwhile), that keeps me on my toes. I tend to look at lots of methods.

I'd love for example to be able to trade a level with a big stop, just can't get comfortable with the idea, personality thing. Anyway I'm in danger of rambling.

I don't trade line charts. It was just to show the key levels without those candles cluttering up the picture.

Pop back anytime, cheers.
  • #1,148
  • May 31, 2010 9:25am May 31, 2010 9:25am
this is an interesting system. Thank you vantage
  • #1,149
  • Edited 9:46am May 31, 2010 9:28am | Edited 9:46am
Quoting lefteye
Dear friends,
I think avoiding bad trades is equally as important as picking up the good ones. please feel free to comment as hard as u can.

1. H1, arrowed entry bar, previous bar 'all green'
2. M15, Arrowed bar was completed before my entry.
3. M5, arrowed entry bar, stopped out very quickly by the 2 highlighted red bars.

Reason for entry.
Hrly looks good, Daily's high taken out. No imminent resistance. Volume looks ok.

Perhaps...
Hi lefteye
Sorry this one didn't work out for you.

We didn't seriously think about trading at all today as we are very wary of trends playing out properly when UK/US both on hol's.

Again hindsight is a wonderful thing, with that in mind.

Fri was a down day so typically we would have been sell biased. The prev 1hr shooting star would have definitely given us some worries but then the 1hr closed higher and pa broke above, so no problems there.

The 15 min has continual upper wicks suggesting some poss concerns, but again they broke above. No problems there.

Perhaps the main issue. On your entry on 5 min (nice candles notwithstanding) there was no pullback below 8 lwma. Its a pity you didn't get entry from 5 min candle 3 prior, closing just above even number. That at least would have given you some room to exit at BE when the move up never followed through.

I put a little article in blog Sat May 29th some gbpusd thoughts, item 8 on stop sweeps, have a look. In and around an even number we'd like to get in earlier ie closer to the even number if we have any doubts. Or to enter from a 1 min wave pa staying above the even number for the full wave (wave below 1 min 8lwma, solid close no/ittle upper wick above 1min 8lwma all taking place above the even number). We definitely would get to BE asap. Trading 15 pips either side of an even number is prob right up there on the list of trickiest things to do in trading.

The other thing I don't know if Trichet was speaking still at that time maybe he said the wrong thing.

I hope this helps.
  • #1,150
  • May 31, 2010 9:32am May 31, 2010 9:32am
Quoting Faust
this is an interesting system. Thank you vantage
No problem, hope you get some benefit.
  • #1,151
  • May 31, 2010 9:33am May 31, 2010 9:33am
Off topic, but nick2112's here. Gotta ask how big a Rush fan are you? And if you are a big Rush fan, sir you are welcome here anytime.
  • #1,152
  • May 31, 2010 10:09am May 31, 2010 10:09am
I was hoping to take some trades on gu London morning session with this method, but I didn't have a single solid signal today. Whenever the M5 showed a lh or hl crossing the 8ma the H1, M15, psych levels, pivots etc said "No!" Or did I miss something?

I've begun reading through the recommended Islander & Medici thread instead (v interesting).

Another day, & not a holiday, tomorrow.

Steve
  • #1,153
  • Jun 1, 2010 1:35am Jun 1, 2010 1:35am
Quoting zhdeef
I was hoping to take some trades on gu London morning session with this method, but I didn't have a single solid signal today. Whenever the M5 showed a lh or hl crossing the 8ma the H1, M15, psych levels, pivots etc said "No!" Or did I miss something?

I've begun reading through the recommended Islander & Medici thread instead (v interesting).

Another day, & not a holiday, tomorrow.

Steve
UK and US public hols yesterday, next time that happens have a day off.

And I have some reliable info there'll be some great trades today. If that info is wrong it'll be tomorrow.
  • #1,154
  • Jun 1, 2010 1:38am Jun 1, 2010 1:38am
Quoting zhdeef
Whenever the M5 showed a lh or hl crossing the 8ma the H1, M15, psych levels, pivots etc said "No!" Or did I miss something?
Hi Steve excuse the joke above.

You didn't miss anything, when decent moves happen 9 times out of 10 you'll see the requirements line up. There weren't any decent moves with the hols yesterday at that time.
  • #1,155
  • Jun 1, 2010 1:49am Jun 1, 2010 1:49am
Quoting Vantage
Hi lefteye
Sorry this one didn't work out for you.

We didn't seriously think about trading at all today as we are very wary of trends playing out properly when UK/US both on hol's.

Again hindsight is a wonderful thing, with that in mind.

Fri was a down day so typically we would have been sell biased. The prev 1hr shooting star would have definitely given us some worries but then the 1hr closed higher and pa broke above, so no problems there.

The 15 min has continual upper wicks suggesting some poss concerns, but again they broke above. No...
Hi Vantage,
Thank you so much for explaination and generously sharing yr system. May I ask,
1. Do u always look for 8lwma pullback?
2. Do u mean the 1min wave crossing both 8lwma+even number ?

Thx.
  • #1,156
  • Jun 1, 2010 2:40am Jun 1, 2010 2:40am
Quoting lefteye
Hi Vantage,
Thank you so much for explaination and generously sharing yr system. May I ask,
1. Do u always look for 8lwma pullback?
2. Do u mean the 1min wave crossing both 8lwma+even number ?

Thx.
1. 8lwma cross, there may have been occassions where we miss, do we look for it yes. Some 'crosses' happen in 1 candle eg a hammer with big wick. We look for a nice 'wave' to show the hl/lh or clear candles. That failed trade referred to above was what we would call a 1 candle hesitation in a move and we have been burned a few times. If you take those it would be for other reasons ie good candle in strong trend, yesterday was not a strong trend, vol was half or lower than normal levels for time of day.
2. No 1 min cross of its 8 lwma (I'm posting a 1 min ej chart just now look at those perfect lh waves) and the pa must pull back to, but stay above, the even number for buys. If pa is constantly jumping above/below the even number for us we don't know which side will win out.
  • #1,157
  • Jun 1, 2010 2:50am Jun 1, 2010 2:50am
A couple of perfect lh waves here on this ej 1 min chart. We missed the first move down unfortunately, see arrow down on 5 min chart.

I've talked about the best most often co-incide with 5 min lh/hl's and 1 min entry agreeing. Have a look at 1 min at the same place as the 5 min arrow down.

Got 2 later moves here but only half lot size, but 1.5% up for day.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2.gif Size: 20 KB
Click to Enlarge Name: 1.gif Size: 20 KB
  • #1,158
  • Jun 1, 2010 3:16am Jun 1, 2010 3:16am
Quoting Vantage
A couple of perfect lh waves here on this ej 1 min chart. We missed the first move down unfortunately, see arrow down on 5 min chart.

I've talked about the best most often co-incide with 5 min lh/hl's and 1 min entry agreeing. Have a look at 1 min at the same place as the 5 min arrow down.

Got 2 later moves here but only half lot size, but 1.5% up for day.
I got into the initial 5min LH move, but actually took the candle three prior to the one you pointed out. 15 min ended up forming the doji 5 minutes later but that broke pretty quick to the downside as you know. Initially took some profit at 111.50 with second target initially at 111.00. Once we were almost there however, I decided to trail above each 5min candle due to the strength of the move and was eventually taken out at the hammer off 110.50. Pretty great way to start the week.

As I was in the trade already I passed on the 1min moves. Care to elaborate any more on the two you took, or was it as simple as having a powerful move and taking each good 1min LH you found?
  • #1,159
  • Jun 1, 2010 3:35am Jun 1, 2010 3:35am
Auron - Congrats. Very nice trade and as you said, a great way to start the week. I had to be satisfied with 2 M1 trades on G/U. Oh well.......... The M1 trades were just LH's in what was a very strong trend.
  • #1,160
  • Jun 1, 2010 4:05am Jun 1, 2010 4:05am
Quoting Auron112
I got into the initial 5min LH move, but actually took the candle three prior to the one you pointed out....
Wouldn't the DS1, yesterday's low, today's low and WP (111.57<-111.32) be a hesitation to u?
Cheers ^o^
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