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Higher low, lower high system

  • #1,661
  • Jul 3, 2010 9:02am Jul 3, 2010 9:02am
Quoting tdeu
Hi Vantage,

Weren't there two lower highs on M1 on 12:12 and 12:15?

Or wouldn't it be safer to wait for the bearish 5min candle to form and then enter on M1?

Cheers

Thomas
Hi Thomas I haven't checked my charts to see what was going on in the background. So this comment is just based on what I see posted.

General comment don't take direction from a 1 min chart. Sell lh's buy hl's in a trend thats in play. I've made other comments about nice 1 min set ups that co-incide with small counter trend candles on 5 min.

Other 1 min trades are area/time specific eg 8-10am gmt where (thanks again Islander) gu likes to reject its psych levels. Or where big runs have happened and you are trading reactions to key levels, Mrs V's 25 pip bounce idea.

OK yes the chart does show lh's on 1 min but price is jumping around the RN and thats dangerous with a small stop. The trades I will take around a RN are specific set ups (100% system trades) and I hate to see the kind of above/below RN gyrations like the 1 you're posted. Just says to me that an entry with small stop can easily get stopped out.
  • #1,662
  • Jul 3, 2010 9:05am Jul 3, 2010 9:05am
Quoting Vantage
Hi Thomas I haven't checked my charts to see what was going on in the background. So this comment is just based on what I see posted.

General comment don't take direction from a 1 min chart. Sell lh's buy hl's in a trend thats in play. I've made other comments about nice 1 min set ups that co-incide with small counter trend candles on 5 min.

Other 1 min trades are area/time specific eg 8-10am gmt where (thanks again Islander) gu likes to reject its psych levels. Or where big runs have happened and you are trading reactions to key levels, Mrs...
Just wanted to add that if you get the lh wave that your chart shows that occurs COMPLETELY below the RN thats a different story. That is the candles are entirely below the RN.
  • #1,663
  • Jul 3, 2010 9:11am Jul 3, 2010 9:11am
Quoting santacruz
Hi,

I'm new here. So I would like to know what is the indicator you use below with 3 rows square box that have green and red color?

Thanks
-Santacruz
Hi santacruz
See the 1st post with the link for the indi's and how to set up. They are a reflection of how the 1hr (top line), 15 min (centre) and position of pa to 1hr 8 lwma (bottom).

Red means the candles have closed in lower half, green top half and whether price is above/below the 1hr lwma. A box shows a closed candle. The arrow means candle not yet closed.

See trade 2 in 1st post, for that trade we want to follow 1hr and 15 min closes ie follow the short term trend.
  • #1,664
  • Jul 3, 2010 1:48pm Jul 3, 2010 1:48pm
Hi Vantage,

The thing what I wanted to point to was, that the 1min candle you've marked was at 9:26GMT and the bearish 5 min candle closed at 9:30GMT. I understood your post like wait for 5min and after close of that look for setup on 1min. Not during 5min working candle.

Cheers

Thomas

Quoting Vantage
Hi Thomas I haven't checked my charts to see what was going on in the background. So this comment is just based on what I see posted.

General comment don't take direction from a 1 min chart. Sell lh's buy hl's in a trend thats in play. I've made other comments about nice 1 min set ups that co-incide with small counter trend candles on 5 min.

Other 1 min trades are area/time specific eg 8-10am gmt where (thanks again Islander) gu likes to reject its psych levels. Or where big runs have happened and you are trading reactions to key levels, Mrs...
  • #1,665
  • Edited 3:30pm Jul 3, 2010 1:50pm | Edited 3:30pm
Hi guys and girls,

here's a nice indi to save some screen space. Displays other TFs in the current chart.

http://www.forexfactory.com/showthread.php?t=159644

Cheers

Thomas
  • #1,666
  • Edited Jul 4, 2010 2:36pm Jul 3, 2010 7:22pm | Edited Jul 4, 2010 2:36pm
Here is what I got as far as a template set up.

With some trial and error I think this will work. Just put the template in the template folder make sure you have all the listed indicators in the expert indicator folder before loading template...

Please let me know if it works for you sometimes posting templates things get lost in the transfer.

Vantage if you see something that may be wrong please let me know I can fix it and re-post, if not maybe you can use it for the first page of the thread.

I have updated the template to include the sdx sweet spots which is adjustable. and the previous day high and low indi.

I have listed the sdx sweet spots and Roy 02 seems these are hard to find sometimes.....The indi box above does not show the sdx sweet spot....

Happy trading...
Attached Image (click to enlarge)
Click to Enlarge Name: vantage template.jpg Size: 110 KB
Attached File(s)
File Type: tpl hl lh m5.tpl   27 KB | 521 downloads
File Type: ex4 SDX-SweetSpots_v4_MP6L.ex4   6 KB | 523 downloads
File Type: ex4 V System chart indicator roy 02.ex4   4 KB | 666 downloads
  • #1,667
  • Jul 4, 2010 3:07am Jul 4, 2010 3:07am
Quoting tdeu
Hi Vantage,

The thing what I wanted to point to was, that the 1min candle you've marked was at 9:26GMT and the bearish 5 min candle closed at 9:30GMT. I understood your post like wait for 5min and after close of that look for setup on 1min. Not during 5min working candle.

Cheers

Thomas
Aha I understand now sorry. Islander has many, many times discussed trades where price just goes above prev highs and failed. I was also thinking of that when I posted that potential set up (nfp day I didn't take it). The arrow down on 1 min is a clear rejection and only time will tell if we'll wait for 5 min to close or now being aware of 2b set up and Islanders trades (which are very close it seems) we take off 1 min. The 1 min arrow down was roughly where prev candle low was taken out ie 2b entry.
  • #1,668
  • Jul 4, 2010 3:20am Jul 4, 2010 3:20am
Quoting bpips
Here is what I got as far as a template set up.

With some trial and error I think this will work. Just put the template in the template folder make sure you have all the listed indicators in the expert indicator folder before loading template...

Please let me know if it works for you sometimes posting templates things get lost in the transfer.

Vantage if you see something that may be wrong please let me know I can fix it and re-post, if not maybe you can use it for the first page of the thread.

Happy trading...
I also use the pivots indi for the D pivots (daah) and days open prev days high/low + the sdx sweetspots for even + half numbers 25/75 levels.

Apart from that looks great.

If others have trouble loading a php file save from the paper clip top right hand corner of screen and it should work fine.
  • #1,669
  • Jul 4, 2010 2:37pm Jul 4, 2010 2:37pm
Quoting Vantage
I also use the pivots indi for the D pivots (daah) and days open prev days high/low + the sdx sweetspots for even + half numbers 25/75 levels.

Apart from that looks great.

If others have trouble loading a php file save from the paper clip top right hand corner of screen and it should work fine.

Hi Vantage I updated the template to include the previous day high/low and the sdx sweet spots.....not sure where to put it so its easy to access?
  • #1,670
  • Jul 4, 2010 5:22pm Jul 4, 2010 5:22pm
Hi Vantage,

I played a bit with the Recent SR indi.

Attached are three preset files. Just attach the indi three times and setup the preset files accordingly. See section "Parameter file(s)" in PDF.

Cheers

Thomas
Attached File(s)
File Type: zip Presets---Recent SR.zip   2 KB | 442 downloads
File Type: pdf Instructions - Recent SR indicator.pdf   77 KB | 1,271 downloads
  • #1,671
  • Jul 5, 2010 12:56am Jul 5, 2010 12:56am
Quoting bpips
Hi Vantage I updated the template to include the previous day high/low and the sdx sweet spots.....not sure where to put it so its easy to access?
Thanks.

Just post here and I'll do a link from 1st post, I don't want to try copy/saving in case vista has more issues.
  • #1,672
  • Jul 5, 2010 1:11am Jul 5, 2010 1:11am
After no follow through on Fri would expect a fall today, we'll see. vol very low at the mo.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 26 KB
  • #1,673
  • Jul 5, 2010 1:28am Jul 5, 2010 1:28am
Time will tell if this initial move up is a fairly typical fake out.

Fri's range was small so D pivots may not be worth as much as on a wide range day simply because they are so close.
  • #1,674
  • Edited 2:49am Jul 5, 2010 2:37am | Edited 2:49am
I have res. at 519x from daily - hit three times

generated with the S/R indicator

Quoting Vantage
Time will tell if this initial move up is a fairly typical fake out.

Fri's range was small so D pivots may not be worth as much as on a wide range day simply because they are so close.
  • #1,675
  • Jul 5, 2010 4:35am Jul 5, 2010 4:35am
GU resistance from daily coming up at 512x
EJ has some at 109.7X coinciding with DS2
EU has some at 1.252X coinciding with DS3

cheers

Thomas
  • #1,676
  • Jul 5, 2010 5:29am Jul 5, 2010 5:29am
I wan't sure about trading with America on holiday so I paper traded this set up and would have got +27pips I was calling 7.25am shooting star the extreme where I would calculate 100-125pip run from. The hour was bearish 15min was bearish and entry on a 5min LH I was looking for 40-50pips but when it stalled on support at 15130 also last months high I got out.
Do you use trailing stops Vantage when your in what you think is the 100-125pips run for the day?

Cheers reflex
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-07-05_1128.png Size: 29 KB
  • #1,677
  • Jul 5, 2010 5:41am Jul 5, 2010 5:41am
Quoting reflex
I wan't sure about trading with America on holiday so I paper traded this set up and would have got +27pips I was calling 7.25am shooting star the extreme where I would calculate 100-125pip run from. The hour was bearish 15min was bearish and entry on a 5min LH I was looking for 40-50pips but when it stalled on support at 15130 also last months high I got out.
Do you use trailing stops Vantage when your in what you think is the 100-125pips run for the day?

Cheers reflex
Hi reflex
I also didn't trade the US holiday. Nice trade that you saw, last months high also a good exit place.

We'll either exit and re-enter (hopefully) if Mrs V gets her way or trail behind closed 5 min hl/lh candles if I get mine. It will also depend on where we get in during the run, Mrs V's 25 pip bounce from key levels after 100 pips is also quite a solid idea so if we are close to those areas we'll exit.
  • #1,678
  • Jul 5, 2010 5:44am Jul 5, 2010 5:44am
Quoting bpips
Here is what I got as far as a template set up.

With some trial and error I think this will work. Just put the template in the template folder make sure you have all the listed indicators in the expert indicator folder before loading template...

Please let me know if it works for you sometimes posting templates things get lost in the transfer.

Vantage if you see something that may be wrong please let me know I can fix it and re-post, if not maybe you can use it for the first page of the thread.

I have updated the template to include the...
Thanks I've put in link from post 1. Cheers.
  • #1,679
  • Jul 5, 2010 5:51am Jul 5, 2010 5:51am
Quoting Vantage
Hi reflex
I also didn't trade the US holiday. Nice trade that you saw, last months high also a good exit place.

We'll either exit and re-enter (hopefully) if Mrs V gets her way or trail behind closed 5 min hl/lh candles if I get mine. It will also depend on where we get in during the run, Mrs V's 25 pip bounce from key levels after 100 pips is also quite a solid idea so if we are close to those areas we'll exit.
Cheers V
hopefully back to normal tomorow after the big run thursday NFP friday and America holiday today! I have been reading all sorts of Psychology stuff over the weekend so I should be mentally prepared for the new month!
  • #1,680
  • Jul 5, 2010 5:56am Jul 5, 2010 5:56am
Vantage, when do you usually cut yourself off prior to news? Attached is an example from today where the 5min bar closed 25 minutes prior to news release. Wasn't trading today either and probably would have passed due to proximity of Asian lows, but it was something I was watching closely at the time to see what it would do. Good close on the 5min, 1hr strong bearish close, same on 15min.

So not even so much wondering what you would do in this particular case but just in general what your policy is for trading prior to news releases and when your cutoff usually is. However, thought I would attach this one since it is the best example for today.
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-07-05_0351.png Size: 30 KB
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