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Higher low, lower high system

  • #1,601
  • Jun 30, 2010 4:10am Jun 30, 2010 4:10am
and missed this one!! entry on the 1min.
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  • #1,602
  • Jun 30, 2010 4:20am Jun 30, 2010 4:20am
What was that bounce????? Nice entry out at BE. EU and EJ went even more beserk.

1 min lh 9.50 gmt, out at BE ouch.

I'll be glad to see the back of this month.
  • #1,603
  • Jun 30, 2010 4:24am Jun 30, 2010 4:24am
Quoting Vantage
What was that bounce????? Nice entry out at BE. EU and EJ went even more beserk.

1 min lh 9.50 gmt, out at BE ouch.

I'll be glad to see the back of this month.
In fact I think I'm done, break a leg guys!!
  • #1,604
  • Jun 30, 2010 4:26am Jun 30, 2010 4:26am
It stalled at 85ish 15pips through the RN like mrs V said it does.
  • #1,605
  • Jun 30, 2010 4:32am Jun 30, 2010 4:32am
Quoting Vantage
In fact I think I'm done, break a leg guys!!
Hehe, don't blame you after that move. If things like that are happening, this is not the type of market I want to be involved in.
  • #1,606
  • Jun 30, 2010 4:46am Jun 30, 2010 4:46am
Quoting Vantage
What was that bounce?????
http://www.forexlive.com/116233/all/...-day-operation
  • #1,607
  • Edited 5:17am Jun 30, 2010 5:05am | Edited 5:17am
Hi Vantage, I am having great success applying your entries to my existing trading methods.

I got bored just looking at one currency pair so I decided to setup a few H1 charts and monitor them as and when.

Look at this euro/gbp move triggered from the h1 chart. There were loads of amazing moves off the h1 charts triggered by your entry. USD/CAD, CAD/JPY, GBP/AUD to name a few. Amazing stuff.

The red arrow was just for my benefit, I put it on the charts last night to remind me I was looking for a long after a close thru 0.8091

Thanks again.
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  • #1,608
  • Jun 30, 2010 5:45am Jun 30, 2010 5:45am
Quoting Vantage
What was that bounce????? Nice entry out at BE. EU and EJ went even more beserk.

1 min lh 9.50 gmt, out at BE ouch.

I'll be glad to see the back of this month.
I kind of feel the same way. Had a slow start to the month, a fantastic middle, and now a pretty weak finish. Overall well up for the month but pretty disappointing considering some of the trades I've missed. R/R is good but win % down from where it normally is (not all this methodology) so that's something that will have to change for next month.

Anyways, was hoping for a bit more info on this trade as I'm still in the process of really getting a handle on the 1min chart. I was wondering, how did you view this as a setup and how were you looking to manage it, assuming it didn't get stopped at BE? In the attached picture I marked what I believe was your entry and also the 5min candle that closed at the same time. Did you have any worry that given the strength of the 5min close it could continue up to say, the 25 level, or were you convinced by the strength of the down move that we would head lower? Great LH off a very small bounce from S1/yest low. Seems likely to break through that if it gives another attempt. So, where did you move to BE? It seems that given the proximity to 5000, it was probably safest to do so as soon as that level held. Depending on your entry, the pullback to S1/yest low must have been very close to BE. If you were waiting to see if 5000 would break on second test prior to going to BE, what gave the conviction to do so?

I've actually had a lot of success with 1min entries so far this month but these ones, where multiple important levels are in such close proximity, are still something of a work in progress when it comes to stop management and what area is generally optimal to lock in at least BE. Thanks V! Lots of questions, I know, but your insight is greatly appreciated.
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  • #1,609
  • Jun 30, 2010 8:41am Jun 30, 2010 8:41am
Quoting medici
http://www.forexlive.com/116233/all/...-day-operation
Cheers medici I thought it had to be some kind of news along those lines.
  • #1,610
  • Jun 30, 2010 8:43am Jun 30, 2010 8:43am
Quoting jag1966
Hi Vantage, I am having great success applying your entries to my existing trading methods.

I got bored just looking at one currency pair so I decided to setup a few H1 charts and monitor them as and when.

Look at this euro/gbp move triggered from the h1 chart. There were loads of amazing moves off the h1 charts triggered by your entry. USD/CAD, CAD/JPY, GBP/AUD to name a few. Amazing stuff.

The red arrow was just for my benefit, I put it on the charts last night to remind me I was looking for a long after a close thru 0.8091

Thanks again....
Jag feel free to post some charts or alert us to nice set ups, once 1hr set there could be some nice 5 min follow through.
  • #1,611
  • Jun 30, 2010 9:01am Jun 30, 2010 9:01am
Quoting Vantage
Its quite a big file to email I've been told and someone has offered to post it here.

bpips were you around for these eur moves up?

The earlier discussion on tl's. I have put in some tl's to show that a hl (or lh) are invariably confirmations of a tl break, test and move, thats why I no longer use.
Hey Vantage I didnt get those. I mostly trade 0800 est to 1100 and maybe look after NY lunch. Im in CST zone. The file is too large to eamil but I do have the free download link that seems to be working fine for everyone....
  • #1,612
  • Edited 9:12am Jun 30, 2010 9:06am | Edited 9:12am
Quoting Vantage
Jag feel free to post some charts or alert us to nice set ups, once 1hr set there could be some nice 5 min follow through.
Will do V, I am just getting my head around the simplicity of your price action entry.

I know in the past you removed most indis, I am even considering removing everything, ma's pivots etc as they can be a distraction.

I like to use manually drawn support and resistance levels for profit targets most, h1 targets from m5 entries would be nice.

Keep up the great work, thanks again.
  • #1,613
  • Jun 30, 2010 9:27am Jun 30, 2010 9:27am
Quoting Auron112
I kind of feel the same way. Had a slow start to the month, a fantastic middle, and now a pretty weak finish. Overall well up for the month but pretty disappointing considering some of the trades I've missed. R/R is good but win % down from where it normally is (not all this methodology) so that's something that will have to change for next month.

Anyways, was hoping for a bit more info on this trade as I'm still in the process of really getting a handle on the 1min chart. I was wondering, how did you view this as a setup and how were you looking...
Yes thats where we entered on 1 min, 5015. We missed the 1 min lh below 5050 (entry about 5040 I think it was) which was a pity.

We were both fairly convinced of a move to 4950 area as previously posted this morning. Move up failed so we expected 125 range down from mornings high.

Importantly pa was really nice on the way down (I really don't now how to describe that) and we confident in further downside. Remember we also posted the small bounce from 5010 = more downside. To have only a 10 odd pip move up from 5010 and turn so easy on 1 min REALLY did not suggest buyers were active.

In a trend some of best 1 min entries come from small 5 min counter trend candles and as mentioned we were sure move down would come. It did after the news filtered out.

We have had a couple of trades taken out at BE and Mrs V suggested moving stop to -5 which has kept us in a few trades. We got to about +14 back to BE and then went again, 1 min was staying on lh's and ll's so we thought we were OK. Once price went back to RN the 2nd time we moved to BE but again that was another 1 min lh so we really thought we were OK. If we were concerned about the trade we would have exited at BE.

Instead of moving stop to just above the even number we thought we would move stop to just above the 5 min hesitation candle when it closed and price went lower, it didn't and ran up. So the stop would have been moved to 4590 area had the move continued down. Anything but the quick jump up would have given us plenty of time to exit with decent pips.

This did not too my efforts to get Mrs V to hang in a trade much good but she does realise there was outside news that caused the reaction and that will happen from time to time.

I think the difference here between getting out at BE and giving some room came down to the fact that price hit 5010 once and bounced up only 10 pips. This was not the 2nd or 3rd time it had held over a short period which does normally give us concern when it doesn't follow through. The string of BE trades we had yesterday or day before is a good example of that.
  • #1,614
  • Jun 30, 2010 9:30am Jun 30, 2010 9:30am
Quoting jag1966
Will do V, I am just getting my head around the simplicity of your price action entry.

I know in the past you removed most indis, I am even considering removing everything, ma's pivots etc as they can be a distraction.

I like to use manually drawn support and resistance levels for profit targets most, h1 targets from m5 entries would be nice.

Keep up the great work, thanks again.
I don't think I'll be going that far, but SR levels drawn manually all good, looking forward to that input.
  • #1,615
  • Jun 30, 2010 11:24am Jun 30, 2010 11:24am
Vantage,

Do you have a crystal ball?

GU went exactly 125pips from the daily pivot almost to the weekly pivot.

Cheers

Thomas
  • #1,616
  • Jun 30, 2010 11:26am Jun 30, 2010 11:26am
Hi Vantage,

What is your 7-9GMT 1min setup?

Cheers

Thomas
  • #1,617
  • Jun 30, 2010 3:49pm Jun 30, 2010 3:49pm
My two short trades for the day before I had to leave. I had a short trading window so went to the m1 after EU hit an area i felt was good resistance. +12 +13 for the day.
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  • #1,618
  • Jun 30, 2010 4:16pm Jun 30, 2010 4:16pm
Quoting Vantage
Yes thats where we entered on 1 min, 5015. We missed the 1 min lh below 5050 (entry about 5040 I think it was) which was a pity.

We were both fairly convinced of a move to 4950 area as previously posted this morning. Move up failed so we expected 125 range down from mornings high.

Importantly pa was really nice on the way down (I really don't now how to describe that) and we confident in further downside. Remember we also posted the small bounce from 5010 = more downside. To have only a 10 odd pip move up from 5010 and turn so easy on 1 min...
Appreciate the extensive reply. I did manage to get myself into that 5050 move and the very nice 1min LH that you mentioned, which is what kept me from taking on the extra position from the 5010 bounce. No problems getting into the first or second 1min LH/HL after reversal from key area but I still have some trouble once the move has already gone a fairly good distance (1min re-entries). It all comes down to having a way to decide that price is trending strongly enough for the 1min re-entry technique, but I just haven't nailed down some definitive rules for that yet. This post helps, so thanks.
  • #1,619
  • Jun 30, 2010 4:32pm Jun 30, 2010 4:32pm
Quoting bpips
My two short trades for the day before I had to leave. I had a short trading window so went to the m1 after EU hit an area i felt was good resistance. +12 +13 for the day.
wow , you are such a good trader...........pop in, post your results (always positve)and leave, just as you used to do in the Craig Harris thread
  • #1,620
  • Edited 6:05pm Jun 30, 2010 5:53pm | Edited 6:05pm
Quoting FOURX
wow , you are such a good trader...........pop in, post your results (always positve)and leave, just as you used to do in the Craig Harris thread
You know its funny if I do have a loss its not with the system rules. Here is my last loss 6/18 for -3 as you can see I wasn't following the entry rules. Not sure if you think I only win trades I don't but the losers are so small it doesn't matter for me at least.Not sure if you wanted to see a loss? Then if you really want to see a win here is another one on GU, but I won't be sharing the +95 pip win on GU you are looking at because my swing system its not in accordance with this thread and Mr. V has a nice thing going here and I would not want to corrupt his thread.....Hey here is an idea FOURX why don't you start a thread and teach your method....
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