Higher low, lower high system | Page 66 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

What are Higher High, Higher Low, Lower High and Lower Low? 11 replies

How to program Higher-High Higher-Low 19 replies

Higher High/Higher Low indicator conversion from 4 to 5 decimals. Help anyone? 2 replies

Can u point me to code 2 show each bar with a higher high & higher low? 2 replies

High to High and Low to low time cycles 1 reply

Attachments: Higher low, lower high system
Exit Attachments

Higher low, lower high system

  • #1,301
  • Jun 9, 2010 12:07am Jun 9, 2010 12:07am
Quoting Vantage
Nice 100% system sell.
Hmm... that one was pretty late in the day for you. I know you sometimes trade after 12:00 London time but it seems like not very often lately. Did you wait for this one just because we haven't had much opportunity in these ranges the last couple days?

I don't trade this late since I'm usually sleeping but is there anything you do differently in London session afternoon or NY session? Maybe only taking certain types of setups, different TP strategies, etc? More curious than anything because as I said I doubt I will be trading during that time in the near future. Still need to do some research with EJ during Asia though...
  • #1,302
  • Jun 9, 2010 3:04am Jun 9, 2010 3:04am
Not a M5 system trade, but shows the power of HL/LH's. E/J went up and bounced off the HOD (dashed magenta line) I shorted the first LH and exited at 42 for a handy 12 pips. I always keep an eagle eye on HOD/LOD situations, as they are very safe trades.
Attached Image
  • #1,303
  • Jun 9, 2010 4:57am Jun 9, 2010 4:57am
Here's a GU trade I took earlier today. Good example of when taking your pips and getting out is a better idea than BE or a small loss. Now, I rarely take my pips below 1:1 or so, but in a case like this where a very strong close on a hammer fails to push higher and actually breaks the low, I'm out.
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-06-09_0033.png Size: 139 KB
  • #1,304
  • Jun 9, 2010 5:19am Jun 9, 2010 5:19am
Second GU trade of the day. Interesting one so I thought I would share.

Tough day today. Three trades, all winners, but as anyone trading today knows it was very difficult to get a good number of pips on a single trade. No good runners today, but hopefully the lack of movement the last few days means some strong moves ahead. Getting my trailing stops ready...
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-06-09_0307.png Size: 159 KB
  • #1,305
  • Jun 9, 2010 7:18am Jun 9, 2010 7:18am
Quoting Auron112
Hmm... that one was pretty late in the day for you. I know you sometimes trade after 12:00 London time but it seems like not very often lately. Did you wait for this one just because we haven't had much opportunity in these ranges the last couple days?

I don't trade this late since I'm usually sleeping but is there anything you do differently in London session afternoon or NY session? Maybe only taking certain types of setups, different TP strategies, etc? More curious than anything because as I said I doubt I will be trading during that time...
Not really I just haven't posted all trades before, normally I post 1 or 2 a day out of 3-5 trades. Haven't traded as much last week or so.
  • #1,306
  • Jun 9, 2010 7:27am Jun 9, 2010 7:27am
Quoting Auron112
Here's a GU trade I took earlier today. Good example of when taking your pips and getting out is a better idea than BE or a small loss. Now, I rarely take my pips below 1:1 or so, but in a case like this where a very strong close on a hammer fails to push higher and actually breaks the low, I'm out.
Perfect system trade, Mrs V (+20 bank Hall of Fame) is agreeing like mad here.

We were too late and missed the hl at the extreme just above 4400 and also the next hl. We were there for the trade you mentioned but although a system trade I was concerned at getting into first trade after a 70-80 pip run against the prev trend.

After that we went to take mum to doctors, x-rays etc etc and just got back. Missed some perfect hl system trades for good pips it seems.
  • #1,307
  • Jun 9, 2010 7:59am Jun 9, 2010 7:59am
Quoting Vantage
After that we went to take mum to doctors, x-rays etc etc and just got back. Missed some perfect hl system trades for good pips it seems.
These are the 100% system trades where I was out and missed. Just showing partly in line with Auron's comments above where he saw no real moves. If early London open is slow you are almost guaranteed a decent trade a couple of hours into session.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 20 KB
  • #1,308
  • Edited 7:58am Jun 10, 2010 3:24am | Edited 7:58am
I was just taking a look at the two GU trades you posted after I wrapped up for the day and I had a question.

The first trade looks good, especially given the 1hr close, so I'm not sure why I missed that. I think I was still watching the charts at that point, so seems odd. Maybe it was the 15min shooting star before that kept me out, but the 15min hammer that closed along with the 5min trigger candle should have canceled that out given the 1hr and trend.

My question is on the 2nd HL, just under 4500. Fairly large upper wick on the 1hr candle with this one, but still positive close. Given the trend, would have made a nice entry. Now with this one, how would you play it considering it's just under the 4500? I know this is a tough question to ask after the fact and especially because you didn't take it, but I'm curious what you might do. Would you take the 5min as is, given how small the bounce off 4500 was? Would you wait for a break before entering? Maybe try to get in early or just after 4500 with a 1min HL? I'm still working on getting the safest possible entries around these bigger numbers so insight would be appreciated.

Thanks.

Hi
Trading around even numbers rightly gives anyone cause for concern. Usually we would wait for even number to break and look to trade a 1 min wave that completes either above in this instance (or below) the even number.

We are seeing that it does not seem to matter what key level/extreme/round number gets hit, if its 100% system trade take it, ie trade option 2 in first post. Thats why I posted the above chart, also as a reminder to me. We are not quite there to take every 100% set up blind but we are getting closer.

The reasoning I think behind it doing so well is simple pa, a solid 1 hr candle normally suggests short term trend change. A solid 15 min candle suggests confirmation of that. A nice 5 min hl/lh suggests the last counter trend traders have been shaken out. I think thats why trade stats are going so well.

Cheers.
  • #1,309
  • Jun 10, 2010 3:26am Jun 10, 2010 3:26am
There have been 2 small system winning set ups this am. After NFP day the UK/Euro int rate decisions that happen today makes this our 2nd "take care" trading day.
  • #1,310
  • Jun 10, 2010 3:49am Jun 10, 2010 3:49am
V. thanks for your comment on "the second most take care day". I never realised the importance of the IR announcement.

No system trades for me so far - nothing I have liked. Picked up +15 on E/J in the Asian session (HL bounce off a new LOD) and another +10 on a similar trade on E/J at LO.( a LH off a new HOD)

These trades are a bit off thread and I won't mention them in future.
  • #1,311
  • Jun 10, 2010 3:49am Jun 10, 2010 3:49am
Quoting Vantage
Hi
Trading around even numbers rightly gives anyone pause for concern. Usually we would wait for even number to break and look to trade a 1 min wave that completes either above in this instance (or below) the even number.

We are seeing that it does not seem to matter what key level/extreme/round number gets hit, if its 100% system trade take it, ie trade option 2 in first post. Thats why I posted it the above chart, also as a reminder to me. We are not quite there to take every 100% set up blind but we are getting closer.

The reasoning I think...
Guess I should have just posted that in the thread.

Didn't want to fill things up with "what-if" scenarios on trades that weren't actually taken though. Still like that this thread stays pretty focused and would hate to get it off track. Thanks for the reply!
  • #1,312
  • Jun 10, 2010 5:16am Jun 10, 2010 5:16am
Morning campers, 2 trades but feel as though I may have used up a few of my 9 lives this morning. +1 and +20 see pictures for details. Both were System trades at the time of opening the trade, although not by the time the 60 min candle closed. It is that same old Harry Hindsight problem of the charts changing after you take the trade. It all looks easy when the chart is historical.

First trade I closed as soon as I saw EURUSD was in a good 15 min upswing in the opposite direction. I'd be interested to know if anyone else took it, and if not, why not (saying it is interest rate day doesn't count)..

Second trade, got a bit of slippage. Spread is kicking up to +3 occasionally. Auto TP took profit at the ultimate Mrs V moment .

That is it, now, until after interest rates, and Trichet press conference. (He's quite good if you watch him live..)

Where are the 2 System trades you identified, V?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 100610 1000 GU rapid exit.png Size: 101 KB
Click to Enlarge Name: 100610 1034 GU breakout.png Size: 102 KB
  • #1,313
  • Jun 10, 2010 6:27am Jun 10, 2010 6:27am
Quoting Royston
Where are the 2 System trades you identified, V?
These are the 2 that I saw. In hindsight these are not so small trades. Stressing we didn't take these just showing as requested by Royston.

I work my goals on an 18 day trading month meaning the UK/Euro interest rates day and NFP I'm happy to sit on the sidelines. US int rates we'd normally trade London session.

As mentioned earlier Mrs V and I are slowly coming to the conclusion that if its 100% system trade ie 2nd trade from 1st post then take it regardless. So NFP/int rate days sitting to 1 side may stop, we'll see.

Theres also a hl buy at extreme on ej, see the arrow up. I haven't marked the lh sell on ej at extreme just below 110.25.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.gif Size: 22 KB
Click to Enlarge Name: 2.gif Size: 21 KB
  • #1,314
  • Jun 10, 2010 6:33am Jun 10, 2010 6:33am
I took 4 trades today & all winners! I decided to pay no attention to news or even numbers & just look at PA. Also decided to go for fixed TP of 15 with SL of 15 also because I have difficulty working out exits

I must have got lucky.

Steve
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Chart_EUR_JPY_5 Mins_snapshot.png Size: 26 KB
Click to Enlarge Name: Chart_GBP_USD_5 Mins_snapshot.png Size: 27 KB
  • #1,315
  • Jun 10, 2010 6:39am Jun 10, 2010 6:39am
I don't have MT4 so can't use the system indicators. Could someone with MT4 put ema21close & ema89close on a M5 chart and verify that it follows the mtf indicators for ema8 as per M15 and H1.

Thanks in advance.

Steve
  • #1,316
  • Jun 10, 2010 6:50am Jun 10, 2010 6:50am
I'm still catching up with the thread, mate, but I just wanted to post this one to make sure that I'm sort of "with it", if you see what I mean. Arrow indicates entry candle.

Any comments welcome, old chap.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy1027.gif Size: 59 KB
  • #1,317
  • Jun 10, 2010 7:00am Jun 10, 2010 7:00am
Quoting Vantage
As mentioned earlier Mrs V and I are slowly coming to the conclusion that if its 100% system trade ie 2nd trade from 1st post then take it regardless. So NFP/int rate days sitting to 1 side may stop, we'll see.
We have been discussing on and off for a few hours now about trading London session on NFP and UK/Euro int rate days according to normal trading rules.

If in doubt check your charts to ensure your system stands up. I've back to look at this years NFP, Euro/UK int rate days and also the UK MPC minutes release (which happens during UK normal news release times).

We have decided we will from here trade normal system trades during London session and see what success rate we have. We haven't decided on a cut off time but hopefully pa will determine that on these highest news days. I don't want to go from 1 extreme (not trading these days) to the other ie taking a trade 5 mins before int rates announced.

So from here there are no bad days for trading this system. Obviously if pa is particularly slow or if very spikey take care.
  • #1,318
  • Jun 10, 2010 7:05am Jun 10, 2010 7:05am
Quoting zhdeef
I took 4 trades today & all winners! I decided to pay no attention to news or even numbers & just look at PA. Also decided to go for fixed TP of 15 with SL of 15 also because I have difficulty working out exits

I must have got lucky.

Steve
Hi Steve
Your short sell below 109.50 was a 100% system trade that we saw as per above chart and sat out. Nice trade.

Your buy above 109.70, ej has gone up over 60 pips seemingly without a retrace, it worked today but I personally certainly would not want to risk that too often.
  • #1,319
  • Jun 10, 2010 7:15am Jun 10, 2010 7:15am
Quoting zhdeef
I took 4 trades today & all winners! I decided to pay no attention to news or even numbers & just look at PA. Also decided to go for fixed TP of 15 with SL of 15 also because I have difficulty working out exits

I must have got lucky.

Steve
Hi again Steve
Your gu buy on left I see why you took it but wouldn't describe that as a hl trade.

Nice though.
  • #1,320
  • Jun 10, 2010 7:26am Jun 10, 2010 7:26am
Quoting eyevoltage
I'm still catching up with the thread, mate, but I just wanted to post this one to make sure that I'm sort of "with it", if you see what I mean. Arrow indicates entry candle.

Any comments welcome, old chap.
Hey EV you are most welcome here.

1hr has closed down so yep thinking sell. 15 min had a low vol small range hammer which is prob a reflection of the time of day, in and around the big news.

5 min closes lower (below the 15 min hammers low) so yes thats 100% system.

Of course despite what I said above about taking system trades I wouldn't be taking them right on the news release!!!!

Cheers EV. Looking forward to more of your posts.
0 traders viewing now