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Higher low, lower high system

  • #1,501
  • Jun 25, 2010 2:22am Jun 25, 2010 2:22am
I've never posted this here as its often not a hl/lh trade as per the rules. It is like other general gu ideas (125 pip run, don't trade first 15 mins of FH often a fake, GU likes 50 fibs etc etc etc) a regular feature and can work very nicely so bear it in mind.

When gu is getting close to its range ie moved 100 pips plus it will often get to RN 75/25 levels and conveniently bounce 25 pips only to hit the next higher place and drop that 25 pips or so. Today we have done just that see attached I was so busy posting (Mrs V somewhere around) and missed out. This is also a way to get safe-ish extra trades in direction of session trend (which has been lacking this month I don't think I'm on 1 trade pd from a normal 3-5!!!!!), don't take my word for it watch out for it. If it doesn't work blame Mrs V not me she spotted it, but be careful we'll have a new rolling pin by then.

You can't wait for 5 min candles to close though.
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  • #1,502
  • Jun 25, 2010 2:57am Jun 25, 2010 2:57am
Quoting Vantage
I've never posted this here as its often not a hl/lh trade as per the rules. It is like other general gu ideas (125 pip run, don't trade first 15 mins of FH often a fake, GU likes 50 fibs etc etc etc) a regular feature and can work very nicely so bear it in mind.

When gu is getting close to its range ie moved 100 pips plus it will often get to RN 75/25 levels and conveniently bounce 25 pips only to hit the next higher place and drop that 25 pips or so. Today we have done just that see attached I was so busy posting (Mrs V somewhere around) and...
Thanks Mr. and Mrs. V thats something I'll watch out for I'll start papering the entries on the 1min chart.
  • #1,503
  • Jun 25, 2010 8:48am Jun 25, 2010 8:48am
Vanatge you are probs done for the week now but I'll post it just incase you have a look over the weekend.
the 11am hourly candle closed bullish for 12pm which is normally a good time for a turn around I think then at the time of the close a bullish 15min candle but staight after the 1st 15min arrow up the 2nd came down and took out the low of this candle would longs then not be system trades?
There was a nice entry on the 5min if the low hadn't been broken. Would you have done this trade anyway considering the hourlys strong close or left it? I sat out of this one cause I wasn't sure and was happy with the pips I made this morning.

Cheers.
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  • #1,504
  • Edited 9:19am Jun 25, 2010 9:13am | Edited 9:19am
Quoting reflex
Vanatge you are probs done for the week now but I'll post it just incase you have a look over the weekend.
the 11am hourly candle closed bullish for 12pm which is normally a good time for a turn around I think then at the time of the close a bullish 15min candle but staight after the 1st 15min arrow up the 2nd came down and took out the low of this candle would longs then not be system trades?
There was a nice entry on the 5min if the low hadn't been broken. Would you have done this trade anyway considering the hourlys strong close or left it? I...
100% system buy, whilst the 1hr candle was a pos close it couldn't break above the prev candle high so that might have given some doubts about it going up. There wasn't a lh sell that I could see and pa certainly wasn't at an extreme so there wasn't a sell. I wouldn't have been worried about the low of that 15 min candle getting taken out. You wouldn't have been looking to sell until there was a lh. If trading in and around an even number you need to be convinced of direction and there wasn't enough to warrant a sell.

When the 5 min had the hammer rejecting the move down its now 100% system trade. As it was right on even number you might have wanted to wait until the 4905 top was taken out.
  • #1,505
  • Jun 25, 2010 9:59am Jun 25, 2010 9:59am
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.
Ok I understand now I was just getting a bit confused I kept thinking about this post and trying to get my head around it but looking back it was a stupid mistake because in this one the 15min bars high was took out in the direction of the hourly and todays was took out against the direction of the hour!

Thanks for all the help again today. I think I learn more from my losers than I do my winners!! have a good weekend.

Cheers Luke.
  • #1,506
  • Jun 25, 2010 4:06pm Jun 25, 2010 4:06pm
Quoting Vantage
Yep and to think I almost chucked it as I thought no-one was interested.
Vantage, I am very interested, I found your thread two weeks ago, it took a few days for me to realise how good your "simple method" was, no dis meant.

I posted today out of appreciation of your hard work and to keep "bumping" your thread, it is brilliant. Keep up the great work.....Thank you.

A few helpers here will stop Mrs V getting upset too, get your pips first then post to help us here.

Oh and your candlestick analysis / discipline is brilliant, I am learning all the time. I will post more of my trades / charts if you promise to kick my ass when I make glaring mistakes / get lucky trades.

Looking forward to learning more from all you guys and hope I can help some too eventually.
  • #1,507
  • Jun 25, 2010 8:30pm Jun 25, 2010 8:30pm
Friday was a good day as I am learning how to use the Ninja trader. Vantage this is great stuff I've been making quite a few pips each day. I still sometimes have a difficult time with the higher lows etc.

Today I traded off the 10 Range set up and bagged +40ish. Here is an example I didn't take all these but the possibility is there. Not trying to get away from the mt4 but this has helped me maybe help someone else.
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  • #1,508
  • Jun 26, 2010 1:00am Jun 26, 2010 1:00am
Quoting reflex
Ok I understand now I was just getting a bit confused I kept thinking about this post and trying to get my head around it but looking back it was a stupid mistake because in this one the 15min bars high was took out in the direction of the hourly and todays was took out against the direction of the hour!

Thanks for all the help again today. I think I learn more from my losers than I do my winners!! have a good weekend.

Cheers Luke.
Hi Luke I see you have it I'm just repeating to make clear to all. In a downtrend you'd be selling a lh that goes below bottom of hammers wick.

In an uptrend you'd be buying the top of hl that goes above a shooting stars wick.

Both of these show that the attempt to go counter trend has failed.
  • #1,509
  • Jun 26, 2010 1:03am Jun 26, 2010 1:03am
Quoting jag1966
Vantage, I am very interested, I found your thread two weeks ago, it took a few days for me to realise how good your "simple method" was, no dis meant.

I posted today out of appreciation of your hard work and to keep "bumping" your thread, it is brilliant. Keep up the great work.....Thank you.

A few helpers here will stop Mrs V getting upset too, get your pips first then post to help us here.

Oh and your candlestick analysis / discipline is brilliant, I am learning all the time. I will post more of my trades / charts if you promise to...
Cheers jag I'll help where I can. There are others here also more than able to help.
  • #1,510
  • Jun 26, 2010 1:13am Jun 26, 2010 1:13am
Quoting bpips
I still sometimes have a difficult time with the higher lows etc.
Don't know why you seem to have I/D'd the first 4 in that move. Just keep watching the charts. There's basically 2 hl's/lh's. The at very bottom of range almost like a dble bttm and what most call 1 2 3 tops/bottoms. Or when a trend is on the 'wave' above/below a ma. I use an 8 lwma but most short term ma's make no major difference.

Search 1 2 3 tops bottoms have a look at what they say, once you spot them at the lows I'm sure you'll see them in the runs, as you did in the chart posted.
  • #1,511
  • Jun 26, 2010 4:27am Jun 26, 2010 4:27am
Very quiet in the V household today (quiet is a relative term as I've just listened to the Exit Stage Left dvd from Reply X 3 and now its a choice between Rush in Rio and Guns 'n Roses OK lets stick with Rush. What do ya know chose Yes Keys to Ascension dvd) Mrs V had a lazy snooze/tv morning and my brother has taken TOD aka the old dear aka mum to lunch/movies.

So I've spent some time to look at some charts and try to figure out why we have had such a disasterous month (+17% way down).

The answer appears that we haven't followed 1 of the golden rules properly ie trade London until 125 pip range done. Watching out for initial LO fake out move 8-9 am gmt bank pips bigger moves generally will come later. IF 8 am gmt does result in bigger move then the pa should show this clearly ie it would have broken out of range. General rule bank pips like FH bank pips in LO 8-9 gmt IF it turns likelihood it will watch for 125+ pip move in other direction.

Some charts as examples.

Moto gp on today I think (come back soon 46 we miss ya).
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  • #1,512
  • Jun 27, 2010 2:03am Jun 27, 2010 2:03am
Essentially then we will be looking to bank quicker between 7 and 9 am gmt where a decent range is around 50 pips, looking for 1 min hl/lh's at key levels (round numbers, psych 75/25, proven supp/res levels, pivots etc). Closer to the Islander style of trading as numbers show something like 80% of the time these are the London open head fake moves.

Each time there is a stall and turn that extreme becomes the starting point potentially for the 125 pip session move. This bigger move is more likely to happen after 9.30 gmt than before.

So my auto scream +20 bank indi (aka Mrs V) will be on full vol 7-9 gmt and afterwards should get dialled down a little.
  • #1,513
  • Jun 27, 2010 2:04pm Jun 27, 2010 2:04pm
1st trade of the week down £500!!! I meant to put 50p on to prove to Mum Igindex was taking trades and ended up putting £50 a point on and the spread was 8pips!! http://cdn.forexfactory.com/images/icons/icon8.gif
I hope tomorow is an extra good day. Not feeling that great at the moment! lol
  • #1,514
  • Jun 27, 2010 6:10pm Jun 27, 2010 6:10pm
I have to ask - why are you trading this time of day ie, the early Asian session? It's usually very unreliable price action, in my opinion.
  • #1,515
  • Jun 27, 2010 11:12pm Jun 27, 2010 11:12pm
I wasn't trading it I was seeing what it had done at the open and my Mum didn't think IG were taking orders because of phone only sign when it came off I was going to try 50p to see if it would open me a position then I would close it straight away but by mistake put £50 instead of .50!
  • #1,516
  • Jun 28, 2010 12:00am Jun 28, 2010 12:00am
I understand. Never heard of a Mum being wrong before!
  • #1,517
  • Jun 28, 2010 12:34am Jun 28, 2010 12:34am
Quoting orientos
I understand. Never heard of a Mum being wrong before!
HAHA!

1st trade of the day strong hourly close strong 15min close target daily mr1 and a projection and from what I could see had been resistance overnight took +14pips.
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  • #1,518
  • Jun 28, 2010 1:14am Jun 28, 2010 1:14am
Daily chart shows poss target res level red line 5130 and some W/M pivots above there.

1hr would first need to break beow last weeks high then problem areas 5000, 4966 4941 on way to 4900.

We'll see which way we go, system at the mo says sell as does Mrs V but I think up, we'll see.
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  • #1,519
  • Jun 28, 2010 1:57am Jun 28, 2010 1:57am
Hi Vantage why is 15130 an important area?
  • #1,520
  • Jun 28, 2010 2:26am Jun 28, 2010 2:26am
Quoting reflex
Hi Vantage why is 15130 an important area?
See the numerous daily lows around that level in April.
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