Higher low, lower high system | Page 85 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

What are Higher High, Higher Low, Lower High and Lower Low? 11 replies

How to program Higher-High Higher-Low 19 replies

Higher High/Higher Low indicator conversion from 4 to 5 decimals. Help anyone? 2 replies

Can u point me to code 2 show each bar with a higher high & higher low? 2 replies

High to High and Low to low time cycles 1 reply

Attachments: Higher low, lower high system
Exit Attachments

Higher low, lower high system

  • #1,681
  • Jul 5, 2010 9:04am Jul 5, 2010 9:04am
Hi Vantage,

Where are your daily pivots/levels?
My indicator lets me use Sunday data or not.

with Sunday data the distance from pivot to S3 is 16 pips
without Sunday data the distance from pivot to S3 is 118 pips

Check out the SR indi - with 1h and 4h it gets a bit crowded - but with the daily levels it's fine.

Cheers

Thomas


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.
  • #1,682
  • Jul 5, 2010 10:49am Jul 5, 2010 10:49am
Auron112,

Can you post your chart template? Thanks
  • #1,683
  • Edited 3:25am Jul 6, 2010 3:11am | Edited 3:25am
Hi Vantage et al,

I was showing a mate your entry method this morning so we watched this cable setup play out live together. EU and EJ both had good trades available on them as well.

I am finding just watching h1 charts and placing horizontal lines on the highs / lows of the candles as a visual aid and just waiting for the closes above / below those levels works well. Then just drop down to the m5 chart for your entries.

Just keep moving the lines every new h1 candle.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cable h1.gif Size: 22 KB
Click to Enlarge Name: cable m5.gif Size: 23 KB
  • #1,684
  • Jul 6, 2010 5:24am Jul 6, 2010 5:24am
Quoting Auron112
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...
These comments are based on London morning session, I do not mess with US news events where volatility can be much higher.

Depends on news, NFP and interest rate days I rarely trade (will look at now though for good set ups).

Other high news days (but excluding the abovementioned) around 30-45 mins before, there are some of the opinion that 20-30 mins before high news events market will give direction of the move.

Any sign of sideways action I'll stop.
  • #1,685
  • Jul 6, 2010 5:26am Jul 6, 2010 5:26am
Quoting tdeu
Hi Vantage,

Where are your daily pivots/levels?
My indicator lets me use Sunday data or not.

with Sunday data the distance from pivot to S3 is 16 pips
without Sunday data the distance from pivot to S3 is 118 pips

Check out the SR indi - with 1h and 4h it gets a bit crowded - but with the daily levels it's fine.

Cheers

Thomas
Sorry I only saw this today and no longer have Y's pivots.
  • #1,686
  • Jul 6, 2010 5:31am Jul 6, 2010 5:31am
Quoting jag1966
Hi Vantage et al,

I was showing a mate your entry method this morning so we watched this cable setup play out live together. EU and EJ both had good trades available on them as well.

I am finding just watching h1 charts and placing horizontal lines on the highs / lows of the candles as a visual aid and just waiting for the closes above / below those levels works well. Then just drop down to the m5 chart for your entries.

Just keep moving the lines every new h1 candle.
On your bottom chart, the hammer a couple of candles to right of your up arrow gives perfect hl entry, 100% system trade.

I did look at 1hr candle systems but stops needed are bigger and waiting for hl/lh on 5 min reduces risk significantly. Takes away the break out nature of 1 hr trade for me.
  • #1,687
  • Jul 6, 2010 5:35am Jul 6, 2010 5:35am
A little disappointing this am. I missed the earlier gu hl posted earlier got in 2 trades both taken out at BE. A nice 100% system buy and lh sell at the extreme of range.

Looks like US session will have to bring a move.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 20 KB
  • #1,688
  • Jul 6, 2010 5:36am Jul 6, 2010 5:36am
Quoting Vantage
On your bottom chart, the hammer a couple of candles to right of your up arrow gives perfect hl entry, 100% system trade.

I did look at 1hr candle systems but stops needed are bigger and waiting for hl/lh on 5 min reduces risk significantly. Takes away the break out nature of 1 hr trade for me.
Any concern though that this particular entry would be only 5 minutes after FO? Given the setup and the 1hr closes it was probably a pretty safe bet as long as you used tight stop management in case of a fakeout, but just wondering what your thoughts are since you usually say to stand aside during first 15mins of FO.
  • #1,689
  • Jul 6, 2010 5:44am Jul 6, 2010 5:44am
Quoting Auron112
Any concern though that this particular entry would be only 5 minutes after FO? Given the setup and the 1hr closes it was probably a pretty safe bet as long as you used tight stop management in case of a fakeout, but just wondering what your thoughts are since you usually say to stand aside during first 15mins of FO.
Yes most definitely first 15 mins of FO is a concern but that was a prefect set up, 1hr hammer, 15 min engulfing candle (and prior to that was a hammer), 5 min hl with nice hammer no upper wick. It doesn't get more 100% system than that.

If there's ANY doubt at FO we'll wait (ie conflict on system, wicks a bit big) but absolutely 100% system we'll take (or spend the next two hours muttering about must take system trades!!!!!).
  • #1,690
  • Jul 6, 2010 5:51am Jul 6, 2010 5:51am
Quoting Vantage
Yes most definitely first 15 mins of FO is a concern but that was a prefect set up, 1hr hammer, 15 min engulfing candle (and prior to that was a hammer), 5 min hl with nice hammer no upper wick. It doesn't get more 100% system than that.

If there's ANY doubt at FO we'll wait (ie conflict on system, wicks a bit big) but absolutely 100% system we'll take (or spend the next two hours muttering about must take system trades!!!!!).
Yes, I did some of that muttering today as I'm sure you can guess.
  • #1,691
  • Jul 6, 2010 5:55am Jul 6, 2010 5:55am
Hi Vantage,

Did you look at a partial TP and move stop later. This is what I've learned at the "Trade what you see" thread.

You see it a couple of times a day, that some entries are tested 2 times. First after the scalpers take their profit (maybe 10-15pips) and then some time later (after around 35pips or so).

20 - 35 pips seems to be a common TP too.

Also check these levels on GU (also from the above thread).

"any observers out there watch how many times the pound and euro turn on 18 37 62 83 (87)

you could almost trade these numbers exclusively and get good results

If the markets moving in smallish moves they almost always turn within a couple of pips of these numbers
after big news it might blow through one but will generally stop at the next and do a u turn there"


Cheers

Thomas

Quoting Vantage
A little disappointing this am. I missed the earlier gu hl posted earlier got in 2 trades both taken out at BE. A nice 100% system buy and lh sell at the extreme of range.

Looks like US session will have to bring a move.
  • #1,692
  • Jul 6, 2010 6:02am Jul 6, 2010 6:02am
Quoting Vantage
but absolutely 100% system we'll take (or spend the next two hours muttering about must take system trades!!!!!).
Morning all,
I took this one and closed -9. It looked like a System trade, prior 60 min candle neg close, current 60 min candle negative etc, and I took a snap at the moment I entered the trade. Is this following the System rules, or were there other factors that would keep you out?
Attached Image (click to enlarge)
Click to Enlarge Name: 100706 1147 GU for FF.png Size: 102 KB
  • #1,693
  • Jul 6, 2010 6:06am Jul 6, 2010 6:06am
Quoting tdeu
Hi Vantage,

Did you look at a partial TP and move stop later. This is what I've learned at the "Trade what you see" thread.

You see it a couple of times a day, that some entries are tested 2 times. First after the scalpers take their profit (maybe 10-15pips) and then some time later (after around 35pips or so).

20 - 35 pips seems to be a common TP too.

Also check these levels on GU (also from the above thread).

"any observers out there watch how many times the pound and euro turn on 18 37 62 83 (87)

you could almost trade these numbers...
Will have to consider, the buy went through 85 level (and when it does that good chance of getting through to 15 ie close to 2 of numbers you mention) with a hammer. Had a stall and then fell quickly and by that stage we weren't interested in a few pips we either hold and go back up or BE. Murphys law was we woud have gone a few pips into stop and then been a grea trade but run was so large it could have easily tunred there. You never know.

The sell we had a nice lh and that rejected strongly again you never know if its a new move up kicking in.
  • #1,694
  • Jul 6, 2010 6:18am Jul 6, 2010 6:18am
The 50% fib of the last 4hr (GMT) candle was at 5162. Not according to the system - but....

It was also the second leg (the first leg ended at 5174) for the correction from the top - 138% extension at 5162

I was tempted too - it had broken a TL, that was in place since midnight

Quoting Royston
Morning all,
I took this one and closed -9. It looked like a System trade, prior 60 min candle neg close, current 60 min candle negative etc, and I took a snap at the moment I entered the trade. Is this following the System rules, or were there other factors that would keep you out?
  • #1,695
  • Jul 6, 2010 6:34am Jul 6, 2010 6:34am
Quoting Royston
Morning all,
I took this one and closed -9. It looked like a System trade, prior 60 min candle neg close, current 60 min candle negative etc, and I took a snap at the moment I entered the trade. Is this following the System rules, or were there other factors that would keep you out?
We looked at same area the 15 min was a neg close but it did have a long lower wick which we weren't happy with. Then the longer the 1 min went sideways the more and more we didn't like it. We got hit at BE on an earlier sell, then the struggle to go below 75 then a 20 min struggle to go lower than 65 area. The longer it carried on the more we thought its quiet time before US session.
  • #1,696
  • Jul 6, 2010 6:42am Jul 6, 2010 6:42am
Quoting Vantage
We looked at same area the 15 min was a neg close but it did have a long lower wick which we weren't happy with. Then the longer the 1 min went sideways the more and more we didn't like it. We got hit at BE on an earlier sell, then the struggle to go below 75 then a 20 min struggle to go lower than 65 area. The longer it carried on the more we thought its quiet time before US session.
Royston this was the 15 min hammer and whilst it closed as a neg candle ie in lower half there was literally only a pip or so in it.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 20 KB
  • #1,697
  • Jul 6, 2010 7:15am Jul 6, 2010 7:15am
1st trade of the day looking for 15150-15140 stop at BE hourly wasn't bearish but couldn't make new highs so was looking for short when 15min closed short.
out at BE.
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-07-06_1311.png Size: 22 KB
  • #1,698
  • Jul 6, 2010 7:21am Jul 6, 2010 7:21am
I was making coffee Mrs V's trade. 1hr closed neg, 15 min shooting star, 5 min lh shooting star with little lower wick. Obviously the area was a concern so stop to BE asap. Another exit at BE.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 20 KB
  • #1,699
  • Jul 6, 2010 7:32am Jul 6, 2010 7:32am
Any advice on how I could have managed that trade Vantage maybe when Asian high was hit my stop could have been put above the bar that broke the previous swing low so exit would have been at 15172?
  • #1,700
  • Jul 6, 2010 7:34am Jul 6, 2010 7:34am
Hi,

Look at the short setups from 13:40 and 14:00 your time zone.

Max pips on both 35!!

cheers

Thomas

Quoting Vantage
I was making coffee Mrs V's trade. 1hr closed neg, 15 min shooting star, 5 min lh shooting star with little lower wick. Obviously the area was a concern so stop to BE asap. Another exit at BE.
1 trader viewing now