yesterday high low system | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Yesterday high/low indicator 10 replies

Buy above yesterday high sell below yesterday low 76 replies

Yesterday High/Low Breakout 20 replies

Yesterday's High anf Low Indicator 4 replies

Yesterday High/Low EA 0 replies

Attachments: yesterday high low system
Exit Attachments

yesterday high low system

  • #1
  • First Post: Edited Jul 14, 2010 10:49am Jul 4, 2010 12:46am | Edited Jul 14, 2010 10:49am
Description:

price action tends to remain between yesterdays high and low unless and untill there some force to break this support and resistance and this force comes in the form of high impact news.

Time frame:

daily time frame

TP and SL

tp can be any thing from 50-100 pips,SL is 20 pips.

pairs to trade

all majors.

I am using this system from last 3 months and found it consistant.
  • #2
  • Jul 4, 2010 12:48am Jul 4, 2010 12:48am
1-Examples

Euro was in tight range last week,broke the resistance coz of nfp news.
Attached Image (click to enlarge)
Click to Enlarge Name: rr.gif Size: 28 KB
  • #3
  • Jul 4, 2010 12:51am Jul 4, 2010 12:51am
if you have any question about the system feel free to ask,i will just update this thread on week ends.

i am also attaching indicator for yesterday high and low.
Attached File(s)
File Type: ex4 Yesterday High & Low v2.0.ex4   4 KB | 2,449 downloads
  • #4
  • Jul 4, 2010 4:34am Jul 4, 2010 4:34am
Quoting swingtrader
Description:

price action tends to remain between yesterdays high and low unless and untill there some force to break this support and resistance and this force comes in the form of news.

Time frame:

4Hr (coz its most stable time frame)

TP and SL

tp can be any thing from 50-100 pips,SL is 20 pips.

pairs to trade

all majors.

I am using this system from last 3 months and found it consistant.
So, what is your entry point?
Do you simply buy/sell a break of yesterday's high/low?
  • #5
  • Jul 5, 2010 12:54am Jul 5, 2010 12:54am
Quoting finally
So, what is your entry point?
Do you simply buy/sell a break of yesterday's high/low?
yes break of yesterday high or low gives a good entry point,but make sure u buy or sell on the basis of news.some times my entry is also based on trendline break in accordance to yesterday high or low.

you can see today GBP chart and wait for the news we have today.
Attached Image (click to enlarge)
Click to Enlarge Name: rr.gif Size: 28 KB
  • #6
  • Jul 5, 2010 4:41am Jul 5, 2010 4:41am
bad news for GBP yesterdays low broken.

+20 pips
Attached Image (click to enlarge)
Click to Enlarge Name: rr.gif Size: 27 KB
  • #7
  • Jul 5, 2010 7:49am Jul 5, 2010 7:49am
Quoting swingtrader
bad news for GBP yesterdays low broken.

+20 pips

You must still be in that trade holding out for 50-100 pips. Right?
  • #8
  • Jul 5, 2010 12:01pm Jul 5, 2010 12:01pm
so do you consider sunday candle(s) as a "day" to be able to draw a high/low for monday?
  • #9
  • Jul 5, 2010 12:28pm Jul 5, 2010 12:28pm
20 pips SL on 4HR TF?

kos
John 3:16 - From THIS love no power on earth can me sever.
  • #10
  • Jul 5, 2010 8:16pm Jul 5, 2010 8:16pm
Quoting swingtrader
Description:

price action tends to remain between yesterdays high and low unless and untill there some force to break this support and resistance and this force comes in the form of news.

Time frame:

4Hr (coz its most stable time frame)

TP and SL

tp can be any thing from 50-100 pips,SL is 20 pips.

pairs to trade

all majors.

I am using this system from last 3 months and found it consistant.
I am sorry - my simulation shows it would not be not profitable in the last 4 years. I optimized results for the best profit, but still it is losing.

http://i614.photobucket.com/albums/t...wingtrader.png
Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #11
  • Jul 5, 2010 8:38pm Jul 5, 2010 8:38pm
Quoting Ramadas
I am sorry - my simulation shows it would not be not profitable in the last 4 years. I optimized results for the best profit, but still it is losing.

http://i614.photobucket.com/albums/t...wingtrader.png
I tried this strategy before and it didn't work.
It appears that trading a breakout of daily highs/lows is only 50% at best.
  • #12
  • Jul 5, 2010 11:06pm Jul 5, 2010 11:06pm
Quoting sashasan
so do you consider sunday candle(s) as a "day" to be able to draw a high/low for monday?
NO,my indicator considers friday range.
  • #13
  • Jul 5, 2010 11:08pm Jul 5, 2010 11:08pm
Quoting Ramadas
I am sorry - my simulation shows it would not be not profitable in the last 4 years. I optimized results for the best profit, but still it is losing.

http://i614.photobucket.com/albums/t...wingtrader.png
may be a robot wont work but if u trade manually with pivots and trendline it always makes a profitble trade,coz we can get a range which we need to watch out breaking that range and u enter trade.
  • #14
  • Jul 5, 2010 11:11pm Jul 5, 2010 11:11pm
australian news in 15 mins.
Attached Image (click to enlarge)
Click to Enlarge Name: rr.gif Size: 28 KB
  • #15
  • Jul 5, 2010 11:15pm Jul 5, 2010 11:15pm
Quoting billbss
You must still be in that trade holding out for 50-100 pips. Right?
yes it could be.
  • #16
  • Jul 5, 2010 11:55pm Jul 5, 2010 11:55pm
interest rates halt at 4.50%

+25 pips
Attached Image (click to enlarge)
Click to Enlarge Name: rr.gif Size: 28 KB
  • #17
  • Jul 6, 2010 1:19am Jul 6, 2010 1:19am
banked more +30 on the same currency AUS/USD
Attached Image (click to enlarge)
Click to Enlarge Name: rr.gif Size: 28 KB
  • #18
  • Jul 6, 2010 1:51am Jul 6, 2010 1:51am
next trade will be canadian housing permits...see yaaa till then.
  • #19
  • Jul 6, 2010 6:23am Jul 6, 2010 6:23am
U/C chart before the news.
Attached Image (click to enlarge)
Click to Enlarge Name: rr.gif Size: 29 KB
  • #20
  • Jul 6, 2010 9:21am Jul 6, 2010 9:21am
tho news was bad for canadian dollars,USD/CAD moved down
Attached Image (click to enlarge)
Click to Enlarge Name: rr.gif Size: 29 KB
0 traders viewing now