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Higher low, lower high system

  • #1,461
  • Jun 23, 2010 5:56am Jun 23, 2010 5:56am
Quoting Vantage
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.
Cheers for clearing that up I should have been paying more attention to the 15 min I guess!
  • #1,462
  • Jun 23, 2010 5:56am Jun 23, 2010 5:56am
Quoting jag1966
Thanks Vantage,

different ma's and fib levels for targets etc.
I have no problem with that.

The issue is the more people see that good hl/lh trade entries are working, the better.

Its up to you but don't let a ma keep you from contributing. Hl/LH's are cast in stone here pretty much all else is negotiable.
  • #1,463
  • Jun 23, 2010 6:00am Jun 23, 2010 6:00am
Quoting reflex
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.
And this is a good example I'm happy with whatever analysis etc sets up a trade, the key being the entry taken from a 5 min hl/lh.
  • #1,464
  • Jun 23, 2010 7:49am Jun 23, 2010 7:49am
1st trade of the day 100% system trade I think if not vantage can you tell me? entry on the 5 min at 1.25pm the only thing that I think may have been wrong with this trade was the strength of the uptrend today and if it was going to turn round maybe it would have already done it?
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  • #1,465
  • Jun 23, 2010 7:56am Jun 23, 2010 7:56am
Quoting reflex
1st trade of the day 100% system trade I think if not vantage can you tell me? entry on the 5 min at 1.25pm the only thing that I think may have been wrong with this trade was the strength of the uptrend today and if it was going to turn round maybe it would have already done it?
The strength of the uptrend and the last 15 min candle that had closed was the one prior to the 1 you show, ie the 15 min was still showing a close in its upper half. I haven't seen a sell set up yet. If you are going to be selling into an even number you have to have exactly right candles.
  • #1,466
  • Jun 23, 2010 8:01am Jun 23, 2010 8:01am
Now we have a 1hr dble bttm low higher close (I think thats right description from James 16 thread) but it couldn't go above prev candles high, so it could still go either way from here.
  • #1,467
  • Jun 23, 2010 8:01am Jun 23, 2010 8:01am
Quoting Vantage
The strength of the uptrend and the last 15 min candle that had closed was the one prior to the 1 you show, ie the 15 min was still showing a close in its upper half. I haven't seen a sell set up yet. If you are going to be selling into an even number you have to have exactly right candles.
I see neither of them were that bearish atal probably me wanting to do a trade so made myself think it was a good setup and convinced myself it was going short.

Cheers.
  • #1,468
  • Edited 9:33am Jun 23, 2010 9:13am | Edited 9:33am
What do you think of this one Vantage I know you didnt have the hourly confirming but was that a strong enough signal on the 15min considering the area it was coming off and the lower high on the 15min? I unfortunatly didn't do it!!

Cheers.
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  • #1,469
  • Jun 23, 2010 10:03am Jun 23, 2010 10:03am
Quoting reflex
What do you think of this one Vantage I know you didnt have the hourly confirming but was that a strong enough signal on the 15min considering the area it was coming off and the lower high on the 15min? I unfortunatly didn't do it!!

Cheers.
Neither did I, (half time in England world cup game) and I was watching the pre match set up. Mrs V was here and despite the fact that this was exactly the kind of set up we wanted she didn't call. Oh well shes's forgiven.

Reflex the trade was just after the 15 min hammer you show. As mentioned in an earlier post when that nice 1hr candle couldn't close above the prev high it was really an either way chance.

The 15 min hammer that closed the 1hr candle also obviously closed near its top but couldn't follow on higher. Thats a classic set up for a move lower. The 5 min has a nice lh close around 4917, I hope I would have had the guts to sell there if I was watching. The move up is at a tough level higher time frames struggled, a nice lh no/little lower wick and also enough room to go to even number to get to BE in need.
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  • #1,470
  • Jun 23, 2010 10:17am Jun 23, 2010 10:17am
Quoting Vantage
Neither did I, (half time in England world cup game) and I was watching the pre match set up. Mrs V was here and despite the fact that this was exactly the kind of set up we wanted she didn't call. Oh well shes's forgiven.

Reflex the trade was just after the 15 min hammer you show. As mentioned in an earlier post when that nice 1hr candle couldn't close above the prev high it was really an either way chance.

The 15 min hammer that closed the 1hr candle also obviously closed near its top but couldn't follow on higher. Thats a classic set up for...
Ok looks like I'm going to have to do some work on my enrty signals but on the 5min chart I posted would the break of 1st spining top where the arrow points have been a possible entry if the 1st setup was missed or would that have been to close to the RN?

I think after I have been to the gym I will spend the night going back through the thread studying entries!

Cheers
  • #1,471
  • Jun 23, 2010 11:02am Jun 23, 2010 11:02am
Quoting reflex
Ok looks like I'm going to have to do some work on my enrty signals but on the 5min chart I posted would the break of 1st spining top where the arrow points have been a possible entry if the 1st setup was missed or would that have been to close to the RN?

I think after I have been to the gym I will spend the night going back through the thread studying entries!

Cheers
Personally for me if the sell around 4917 was missed I'd have waited for the move below RN and hoped for a nice 1 min lh that has taken place below the RN. The complete lh wave in pa must have been totally below 4900.
  • #1,472
  • Jun 23, 2010 11:16am Jun 23, 2010 11:16am
Thanks for all the help today I have just got to get my head around upward wicks can be bearish when broke and downward ones bullish when broke sometimes.

Cheers.
  • #1,473
  • Jun 23, 2010 6:12pm Jun 23, 2010 6:12pm
Hi Vantage,

im not sure what pair your showing and time frame tried to match it up so I could study a little.

thanks.
  • #1,474
  • Jun 23, 2010 6:21pm Jun 23, 2010 6:21pm
Hi bpips - V's last chart was M5 GBP/USD. His charts are FxPro and the high of 1.49428 was 4.5 hours after LO, if that's any help.
  • #1,475
  • Jun 24, 2010 1:23am Jun 24, 2010 1:23am
Quoting reflex
Thanks for all the help today I have just got to get my head around upward wicks can be bearish when broke and downward ones bullish when broke sometimes.

Cheers.
Not sure what you mean here, upward wicks can be bullish when top taken out and lower wicks bearish when low taken out.
  • #1,476
  • Jun 24, 2010 2:11am Jun 24, 2010 2:11am
Quoting Vantage
Not sure what you mean here, upward wicks can be bullish when top taken out and lower wicks bearish when low taken out.
I meant what you said. upward wicks can be bullish when top taken out and lower wicks bearish when low taken out.
  • #1,477
  • Jun 24, 2010 3:04am Jun 24, 2010 3:04am
I elected to trade E/J today and have had 2 trades. M60 and M15 were in agreement on both and I picked up +11 on the first and +15 on the second. There have not been a lot of opportunities the past few weeks, and so I was happy with the smallish pips.
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  • #1,478
  • Jun 24, 2010 3:17am Jun 24, 2010 3:17am
Quoting orientos
I elected to trade E/J today and have had 2 trades. M60 and M15 were in agreement on both and I picked up +11 on the first and +15 on the second. There have not been a lot of opportunities the past few weeks, and so I was happy with the smallish pips.
Took the same trade didn't re-enter, looked at gu as euro fell nicely and didn't get entry there. Not very happy but this happens. Hoping for a nice turn on gu above M M3 4934, prev res now supp.
  • #1,479
  • Jun 24, 2010 5:44am Jun 24, 2010 5:44am
Missed out big time today. The red line shows both a lower high trade but also 1hr and 15 min were in line. Left arrow down was the first system trade. The middle arrow down was where we entered.

Got out much too early and didn't re-enter on right arrow down. On days like this system can give 7-10% ROI for the day.

After a worse than usual month this type of trade can obviously turn things around big time. Missed out NOT happy.
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  • #1,480
  • Jun 24, 2010 9:40am Jun 24, 2010 9:40am
HI V i did this trade today got +2 out of it was a shame becasue I could have had 30 out of it i know it was against the hour but the time of day and the monthly mr1 it was coming off it looked good to me what do you think?
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