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Higher low, lower high system

  • #1,441
  • Jun 22, 2010 8:57am Jun 22, 2010 8:57am
Hi vantage
At any point will it be possible for you to make an video explain the method you know these days video become more and more usefull for learner just a suggetion...


Thanks anyway for your great affort ..
  • #1,442
  • Jun 22, 2010 11:15am Jun 22, 2010 11:15am
Quoting BellaBee
Thanks Vantage,

I've been trading for a year now (having studied forex prior to this). I have been lurking on Forex Factory, but never posted before. I've tried and tested many different methods of trading, and am currently using a variation of your HL/LH system and put in many hours of studying charts! Perhaps the 'rabbit in headlights' comment mislead you.

I was particularly interested in exits, as I said, I feel they are a weakness. However if what you are saying is that they are subjective and there aren't hard and fast rules, I suppose...
OK exits I target pivots (D, W and M), round numbers, certain fibs (from the pivots indi post 1) 25/75 levels. I have had the challenge of my auto scream indi (ie Mrs V) at +20 pips but finally have got her agreement to try and calm that down. Targets will depend on what pa has done eg if price has had a small move in London session and has a nice hl/lh you have virtually 75% chance of 125 pip move in other direction. Having said that Mrs V is also correct that when 75-100 pip move has occurred the chance of a decent bounce from any one of those important levels is high ie a bounce from even number could easy go to 25 level and fall from there ie you can look to exit and get in again.

The chances of us getting to +30 and higher and getting nothing was slim, this might get moved to +50, we'll see.
  • #1,443
  • Jun 22, 2010 11:17am Jun 22, 2010 11:17am
Quoting hoichoi
Hi vantage
At any point will it be possible for you to make an video explain the method you know these days video become more and more usefull for learner just a suggetion...


Thanks anyway for your great affort ..
Hi hoichoi being a technophobe chances are slim!!! Hopefully though the posts here with a little time and effort should show method clearly.
  • #1,444
  • Jun 22, 2010 11:41am Jun 22, 2010 11:41am
Hey V, I like the auto scream indi, very funny....

I got one good long on eu today very odd day to trade pretty slow for me...Hope tomorrow is better...this trade had a few nice lower wicks on m15 and was coming off daily support 1. +20
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  • #1,445
  • Jun 22, 2010 3:27pm Jun 22, 2010 3:27pm
Don't know about auto scream indi - I want a hindsight indi!
I keep missing entries that are so obvious minutes afterwards when it's too late.

How do others monitor the market?
Do you look at the M15 charts & then slip down to M5 for possible entries?
Do you look at the M5 all the time & then check the higher TFs when an opportunity seems on?
Something else? No system?

For me the problem with MTFs is how too monitor all this info systematically. Any suggestions most welcome.

Steve
  • #1,446
  • Jun 22, 2010 7:35pm Jun 22, 2010 7:35pm
Quoting zhdeef
Don't know about auto scream indi - I want a hindsight indi!
I keep missing entries that are so obvious minutes afterwards when it's too late.

How do others monitor the market?
Do you look at the M15 charts & then slip down to M5 for possible entries?
Do you look at the M5 all the time & then check the higher TFs when an opportunity seems on?
Something else? No system?

For me the problem with MTFs is how too monitor all this info systematically. Any suggestions most welcome.

Steve
I have three screens but I used only one for charts. I set my MT4 up like this main is the m5 the top right m15 and then lower right hour. Hope this helps. I also just watch one pair right now EU.. Hope this helps
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  • #1,447
  • Jun 23, 2010 12:14am Jun 23, 2010 12:14am
Hi Vantage just to double check..
is these are valid setup?
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  • #1,448
  • Jun 23, 2010 2:06am Jun 23, 2010 2:06am
Nice trade bpips.

Hoichoi the left arrow up looks like a nice hl buy. The right arrow up. In the bigger picture yes its a hl but I wouldn't have taken that buy trade as we were on a small series of lh's and you don't know if that will continue to fall just after you've entered your buy. There was a clear hl buy just after that arrow right that looked a good entry.
  • #1,449
  • Jun 23, 2010 2:26am Jun 23, 2010 2:26am
Quoting bpips
I have three screens but I used only one for charts. I set my MT4 up like this main is the m5 the top right m15 and then lower right hour. Hope this helps. I also just watch one pair right now EU.. Hope this helps
Thanks bpips, I'll try that sort of set up & see how I get on.

Steve
  • #1,450
  • Jun 23, 2010 4:32am Jun 23, 2010 4:32am
Any trades for you today vantage? I've done nothing so far today but I only trade cable hopefully get an nice hourly close soon.
  • #1,451
  • Jun 23, 2010 4:39am Jun 23, 2010 4:39am
Don't feel comfortable doing longs with mid resistance 2 at 918 and its had 104 pips move form Frankfurt open already.
  • #1,452
  • Jun 23, 2010 5:27am Jun 23, 2010 5:27am
Quoting reflex
Any trades for you today vantage? I've done nothing so far today but I only trade cable hopefully get an nice hourly close soon.
We missed this set up and after that there wasn't a lot we liked. So no trades today this is by far the month with the fewest trades that we have taken.

No problem I have it on reliable authority that tomorrow will be great.
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  • #1,453
  • Jun 23, 2010 5:28am Jun 23, 2010 5:28am
Quoting reflex
Don't feel comfortable doing longs with mid resistance 2 at 918 and its had 104 pips move form Frankfurt open already.
Plus the big 1hr spinning top/doji and the high from 21st and M M3 at 4934.
  • #1,454
  • Jun 23, 2010 5:29am Jun 23, 2010 5:29am
Hi Vantage,

I have been following your thread for a while now and really like your 5 minute entries alot.

Like others have said here the simplicity of it it brilliant. And those small stops are priceless.

Thankyou very much for all your hard work.
  • #1,455
  • Jun 23, 2010 5:31am Jun 23, 2010 5:31am
Quoting jag1966
Hi Vantage,

I have been following your thread for a while now and really like your 5 minute entries alot.

Like others have said here the simplicity of it it brilliant. And those small stops are priceless.

Thankyou very much for all your hard work.
You're welcome here any time. Post some charts/trades even if its just a confirmation of what someone else saw and that you took the trade also.
  • #1,456
  • Jun 23, 2010 5:35am Jun 23, 2010 5:35am
It will be very interesting to see what happens from here. 62% retrace of move down from 26 April is 5022 where W M4 is so if we do carry on up a likely target? W R1 at 4955.
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  • #1,457
  • Jun 23, 2010 5:41am Jun 23, 2010 5:41am
Quoting Vantage
We missed this set up and after that there wasn't a lot we liked. So no trades today this is by far the month with the fewest trades that we have taken.

No problem I have it on reliable authority that tomorrow will be great.
on the setup you missed would the reason for you entering that trade be the break of the two long bearish wicks?
I have always watched setups like this in real time and wondered why when it has formed a few bullish/bearish signals in a row and then gone ni the oposite direction am I right in thinking when those wicks have been broke that its then a sign of weakness?
I am hoping for a nice trade setup between 12-1pm so I can meet my 20pip target!
  • #1,458
  • Jun 23, 2010 5:47am Jun 23, 2010 5:47am
Thanks Vantage,

unfortunately I have applied your 5 minute entries to my existing template, different ma's and fib levels for targets etc.

I wouldn't want to confuse things for others learning your excellent strategy.

I am getting exactly the same entries as you guys though, so thanks again.
  • #1,459
  • Jun 23, 2010 5:51am Jun 23, 2010 5:51am
Quoting reflex
on the setup you missed would the reason for you entering that trade be the break of the two long bearish wicks?
I have always watched setups like this in real time and wondered why when it has formed a few bullish/bearish signals in a row and then gone ni the oposite direction am I right in thinking when those wicks have been broke that its then a sign of weakness?
I am hoping for a nice trade setup between 12-1pm so I can meet my 20pip target!
The failure of a hammer/shooting star is often in itself a decent trade. When it comes after a 1hr pos close, it takes out the top of a neg 15 min candle (which otherwise keeps you out of a trade ito the rules) has a close at top with little no upper wick on a 5 min hl that completes all trade rules. So in this case it wasn't just the taking out of top of upper wicks, this had all trade requirements.
  • #1,460
  • Jun 23, 2010 5:51am Jun 23, 2010 5:51am
Quoting Vantage
It will be very interesting to see what happens from here. 62% retrace of move down from 26 April is 5022 where W M4 is so if we do carry on up a likely target? W R1 at 4955.
Theres also a gartley that formed on the 4 hour which is going to act as resistance!
I have been reading other threads that are based on longer term trading and lots of people seem to think the area between 14850 and 15000 is where you could see a new long trend start or continue on its downward trend not that it affects this systems trading set ups but still interesting to watch.
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