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Higher low, lower high system

  • #1,521
  • Jun 28, 2010 4:39am Jun 28, 2010 4:39am
Ok cheers this is my 2nd trade two 15min hammers a bullish hourly close and a 5 min HL -15pips probally a bit close to previous highs ect what do you think Vantage?
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  • #1,522
  • Jun 28, 2010 5:35am Jun 28, 2010 5:35am
Quoting reflex
Ok cheers this is my 2nd trade two 15min hammers a bullish hourly close and a 5 min HL -15pips probally a bit close to previous highs ect what do you think Vantage?
Took the same trade and exited at BE when it refused to follow through at that key level, remember whilst 1hr had strong upper close it COULD NOT close above the recent range. Typically if gu does not go by then the next move will happen basically between now and during next hour ie early US/UK overlap.
  • #1,523
  • Jun 28, 2010 5:41am Jun 28, 2010 5:41am
Just tried another hl above 5050 again out at BE.
  • #1,524
  • Jun 28, 2010 5:51am Jun 28, 2010 5:51am
Quoting Vantage
Just tried another hl above 5050 again out at BE.
The last BE trade see arrow up.

The brown line at 5063 is days open. Whilst US session can go where it wants to the lack of any decent bounce lower for now suggests to me that we will go up, TWT.
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  • #1,525
  • Jun 28, 2010 5:54am Jun 28, 2010 5:54am
Quoting Vantage
Took the same trade and exited at BE when it refused to follow through at that key level, remember whilst 1hr had strong upper close it COULD NOT close above the recent range. Typically if gu does not go by then the next move will happen basically between now and during next hour ie early US/UK overlap.
I should have been ready to cut my loss early with it being an important area after it couldn't follow through do you think below this hanging man would have been a good place to cut my loss?
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  • #1,526
  • Jun 28, 2010 6:00am Jun 28, 2010 6:00am
Quoting reflex
I should have been ready to cut my loss early with it being an important area after it couldn't follow through do you think below this hanging man would have been a good place to cut my loss?
The best advice I can give there is what I did, out at BE when it moved up and didn't have the legs. Moves can happen at this time but its often a snooze time for gu, so when it didn't have legs we bailed.

Just had another buy attempt above 5050 exit BE.
  • #1,527
  • Jun 28, 2010 6:11am Jun 28, 2010 6:11am
Quoting Vantage
The best advice I can give there is what I did, out at BE when it moved up and didn't have the legs. Moves can happen at this time but its often a snooze time for gu, so when it didn't have legs we bailed.

Just had another buy attempt above 5050 exit BE.
Cheers just broke above my weekly MR1 hopefully I'll get a entry on the 1min or 5min if it goes.
  • #1,528
  • Jun 28, 2010 6:15am Jun 28, 2010 6:15am
Quoting reflex
Cheers just broke above my weekly MR1 hopefully I'll get a entry on the 1min or 5min if it goes.
Murphy's law didn't get an entry on the move that popped. Its not conclusive though so maybe Mrs V gets her down move albeit much later than she originally thought.
  • #1,529
  • Jun 28, 2010 6:28am Jun 28, 2010 6:28am
Quoting Vantage
Murphy's law didn't get an entry on the move that popped. Its not conclusive though so maybe Mrs V gets her down move albeit much later than she originally thought.
Couldn't seem to do much once it poped it so I think I will wait for the next hour to close. What would you say the latest a big move happens is normally?
  • #1,530
  • Jun 28, 2010 7:23am Jun 28, 2010 7:23am
Hi Vantage,

Just want to say thanks for your nice thread. I like to trade naked PA too.

Came over from the "Trade what you see" thread. Didn't liked the bigger stops there.

I'm long biased too today (can see 5130 area too - weekly,monthly and daily S/R there after that 5190). Although we need to take out the 5066 range top by a 1hr close before we get some legs to go further north.

One question:

What MA is the pink line on that chart?
http://www.forexfactory.com/showpost...&postcount=604

Cheers

Thomas
  • #1,531
  • Edited 7:43am Jun 28, 2010 7:32am | Edited 7:43am
cable
Maybe we see a move north. Last 4hr engulfed three bearish candles.

Looks like a nice bull flag now.

Thomas
  • #1,532
  • Jun 28, 2010 7:41am Jun 28, 2010 7:41am
Hi Vantage,

Was the first short a system trade, as it was a short above the 1hr 8lwma?

Although I can see the topping pattern.

Cheers

Thomas

post http://www.forexfactory.com/showpost...postcount=1417

Quoting Vantage
Its school hol's here and we've been baby sitting, we have BS duties tomorrow not sure what time we'll be free for trading. No trades done today just showing for the record.

Left arrow down. There were a couple of lh's earlier than this but the prior ones were closing just above the even number. The left arrow down is the first 100% system sell that I could see. 1hr doji, 15 min shooting star, 5 min lh with the close just below the even number and the close is at extreme of range little lower wick. When that continues its normally a good...
  • #1,533
  • Jun 28, 2010 8:15am Jun 28, 2010 8:15am
Quoting reflex
Couldn't seem to do much once it poped it so I think I will wait for the next hour to close. What would you say the latest a big move happens is normally?
In London session 11.30 - 12.30 gmt, I've never looked after that due to US overlap. This was just one of those rare yawn days.
  • #1,534
  • Jun 28, 2010 8:21am Jun 28, 2010 8:21am
Quoting Vantage
In London session 11.30 - 12.30 gmt, I've never looked after that due to US overlap. This was just one of those rare yawn days.
Well I guess I am done for the day then -1pip today for me not bad on a yawn day!
  • #1,535
  • Jun 28, 2010 8:21am Jun 28, 2010 8:21am
Quoting tdeu
Hi Vantage,

Was the first short a system trade, as it was a short above the 1hr 8lwma?

Although I can see the topping pattern.

Cheers

Thomas

post http://www.forexfactory.com/showpost...postcount=1417
Yes, price had a strong move up and that will always take you away quickly from a ma. But have a look at the perfect doji on 1hr a clear reason to look for sells. Thats one of the failings of ANY ma type system. You can get great higher level signals but stay out because it hasn't crossed. I'm happy to take solid trades with right candles before the 1hr lwma has crossed.
  • #1,536
  • Jun 28, 2010 8:23am Jun 28, 2010 8:23am
Quoting reflex
Well I guess I am done for the day then -1pip today for me not bad on a yawn day!
Yep I think I am too, maybe will have a look closer to UK close. Cheers.
  • #1,537
  • Jun 28, 2010 8:28am Jun 28, 2010 8:28am
Thanks for the quick answer. It always pays to look at HTF. I look at daily/4hr/1hr/15m. And now also at 5min. Thanks to your thread.

Sorry, don't wat to bother you. Can you please answer the question from this post.
http://www.forexfactory.com/showpost...postcount=1530

Cheers

Thomas

Quoting Vantage
Yes, price had a strong move up and that will always take you away quickly from a ma. But have a look at the perfect doji on 1hr a clear reason to look for sells. Thats one of the failings of ANY ma type system. You can get great higher level signals but stay out because it hasn't crossed. I'm happy to take solid trades with right candles before the 1hr lwma has crossed.
  • #1,538
  • Jun 28, 2010 8:30am Jun 28, 2010 8:30am
Quoting tdeu
Hi Vantage,

Just want to say thanks for your nice thread. I like to trade naked PA too.

Came over from the "Trade what you see" thread. Didn't liked the bigger stops there.

I'm long biased too today (can see 5130 area too - weekly,monthly and daily S/R there after that 5190). Although we need to take out the 5066 range top by a 1hr close before we get some legs to go further north.

One question:

What MA is the pink line on that chart?
http://www.forexfactory.com/showpost...&postcount=604

Cheers

Thomas
Hi Thomas
Missed this earlier and I was thinking about other things and forgot to say welcome, so a belated welcome. I have since changed but then prob a 21 lwma. I currently have set up on 5 min as per post 1.
  • #1,539
  • Jun 28, 2010 8:32am Jun 28, 2010 8:32am
Vantage,

Would you've sold that bearish shooting star 15min ago (5min)?

Looks like we're struggling with a wedge trend channel line. Or would you wait for the break of today's uptrend line around 5060ish to go short?

Cheers

Thomas
  • #1,540
  • Jun 28, 2010 8:38am Jun 28, 2010 8:38am
Is the blue MA on the 5min chart from post #1 a 5min 8lwma? Looks like more or less most setup candles cross the blue MA or are near it?

Cheers

Thomas

Quoting Vantage
Hi Thomas
Missed this earlier and I was thinking about other things and forgot to say welcome, so a belated welcome. I have since changed but then prob a 21 lwma. I currently have set up on 5 min as per post 1.
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