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Higher low, lower high system

  • #1,761
  • Jul 8, 2010 3:22am Jul 8, 2010 3:22am
Quoting tdeu
Hi Vantage,

are the yellow marked candles the entries from today?

Cheers

Thomas
Looking at gu these looked good as well. Little/no upper wick on the buy, lower wick on the sell.
Attached Image (click to enlarge)
Click to Enlarge Name: 3.gif Size: 19 KB
  • #1,762
  • Jul 8, 2010 3:24am Jul 8, 2010 3:24am
Been watching aj a little after Malcolmb (vsa thread) said its one of his faves to trade. Looks good.
  • #1,763
  • Jul 8, 2010 3:28am Jul 8, 2010 3:28am
Didn't trade it as news is in 5 mins but this is such a good example of a support area but there has been a distinct lh and then a solid close right at bottom of range, normally a good set up. NB little/no lower wick on the set up candle.
Attached Image (click to enlarge)
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  • #1,764
  • Jul 8, 2010 3:50am Jul 8, 2010 3:50am
Got into a nice trade earlier usually wouldn't trade UK/Euro int rate days so might just switch off for the day, either that or carry on checking out aj. We'll see.
  • #1,765
  • Jul 8, 2010 5:21am Jul 8, 2010 5:21am
Quoting Vantage
I'll look at above Q's when I can.

Yes I know FO trade but 100% system. 1hr 2 hammers + 2nd higher close, 15 min 2 hammers off the DO. Nice 5 min hl.

Out too early popped right through W M3 which was at 15 level/high of Asian session and a nice target short term.
I don't know why I didn't do this one I did one yesterday right on FO and got -3 but it did actually work and todays trade was a much better setup had the chance to get BE if turned at 200! I'm not happy with myself and don't think I will trade anymore with the interest rate at 12 and the initial jobless at 1.30.
  • #1,766
  • Jul 8, 2010 5:34am Jul 8, 2010 5:34am
Quoting reflex
I don't know why I didn't do this one I did one yesterday right on FO and got -3 but it did actually work and todays trade was a much better setup had the chance to get BE if turned at 200! I'm not happy with myself and don't think I will trade anymore with the interest rate at 12 and the initial jobless at 1.30.
Reflex the FO can be very tricky and often either doesn't do much or can reverse on you, have a look back. I often avoid it, but 100% system with good candles a different issue.
  • #1,767
  • Jul 8, 2010 6:18am Jul 8, 2010 6:18am
Quoting Vantage
Reflex the FO can be very tricky and often either doesn't do much or can reverse on you, have a look back. I often avoid it, but 100% system with good candles a different issue.
Yeah if I look back through my log I never normally get more than 15pips in FO so it unlikely I would have been in all the move. I need to keep telling myself if its a really nice 100% system trade I have to do it especially if I have the chance to get to BE.

Cheers Vantage.
  • #1,768
  • Jul 8, 2010 6:28am Jul 8, 2010 6:28am
Quoting BlackFly
Hi Vantage, i am working my way through your thread, interesting stuff!!! Keep it up!!!

posting to subscribe

Cheers
And very welcome you are to, hope it helps, any Q's just shout.
  • #1,769
  • Jul 8, 2010 6:29am Jul 8, 2010 6:29am
Just a quick question vantage do you ever trade past 2pm cause I have noticed a few good setups the last couple of days or do you normally make your pips in London? I am only asking because there might be a trade after the initial jobless and don't want to trade inbetween the news today
.
  • #1,770
  • Jul 8, 2010 6:43am Jul 8, 2010 6:43am
Quoting reflex
Just a quick question vantage do you ever trade past 2pm cause I have noticed a few good setups the last couple of days or do you normally make your pips in London? I am only asking because there might be a trade after the initial jobless and don't want to trade inbetween the news today
.
Not that often to be quite honest. If its trending nicely with good set ups, go for it.
  • #1,771
  • Jul 8, 2010 7:47am Jul 8, 2010 7:47am
Hi,

see marked candle.

Cheers


Quoting Vantage
You'll need to post chart not sure what you mean.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 5min.gif Size: 18 KB
  • #1,772
  • Jul 8, 2010 8:01am Jul 8, 2010 8:01am
Quoting tdeu
Hi,

see marked candle.

Cheers
Its not a system hl on 5 min as there was no wave/move lower, just a gradual push up. I do take some trades when an initial entry has missed when 1 min chart has had a hl (in this case) above a key level, the RN.
Attached Image (click to enlarge)
Click to Enlarge Name: 5.gif Size: 17 KB
  • #1,773
  • Jul 8, 2010 8:25am Jul 8, 2010 8:25am
what about the green candle before yours - it went through the RN and closed above?

The pullback below the low of the shooting star from 6:10 GMT drew in some shorts, that were cooked, when it was taken out.

nice


Quoting Vantage
Its not a system hl on 5 min as there was no wave/move lower, just a gradual push up. I do take some trades when an initial entry has missed when 1 min chart has had a hl (in this case) above a key level, the RN.
  • #1,774
  • Jul 8, 2010 8:35am Jul 8, 2010 8:35am
Quoting tdeu
what about the green candle before yours - it went through the RN and closed above?

The pullback below the low of the shooting star from 6:10 GMT drew in some shorts, that were cooked, when it was taken out.

nice
I haven't had good experience when price is moving through RN, when the wave is above or below entirely thats when I look. The move you refer to is a 1min hl, but I wouldn't have taken that. Just me.
  • #1,775
  • Edited 2:48pm Jul 8, 2010 11:46am | Edited 2:48pm
Hi Vantage,

would this be a 100% system trade too? It went through the 75 psych level.

picture 2 sums up my question:
Are you taking both trades if 100% system trades?

Although it would be more likely for the short to be a "LH reversal at extreme" trade as we would be on the wrong side of the H1 8lwma.

cheers and thanks

Thomas

Quoting Vantage
Looking at gu these looked good as well. Little/no upper wick on the buy, lower wick on the sell.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 3.gif Size: 20 KB
Click to Enlarge Name: long trade here.JPG Size: 25 KB
  • #1,776
  • Jul 8, 2010 3:02pm Jul 8, 2010 3:02pm
Quoting tdeu
Hi Vantage,

would this be a 100% system trade too? It went through the 75 psych level.

picture 2 sums up my question:
Are you taking both trades if 100% system trades?

Although it would be more likely for the short to be a "LH reversal at extreme" trade as we would be on the wrong side of the H1 8lwma.

cheers and thanks

Thomas
Vantage will probably have to correct me but the yellow arrow isn't a 100% system trade because it has already ran up 135pips from 9.00am gmt so V would be losing interest in longs I think. You did have an 15min HL hammer but you would have been going against the bearish two bar spike on the hourly after a big run.

I might be wrong but I thought I would try and answer.

Cheers Reflex.
  • #1,777
  • Jul 8, 2010 4:05pm Jul 8, 2010 4:05pm
Thanks reflex,

you're right.

That's why I attached "chart" 2 to make my point clear.

The two bigger retracements yesterday were basically stop runs. Just have a look where they ended.

What I try to figure out is how to re-enter after such an event.

Cheers

Thomas

Quoting reflex
Vantage will probably have to correct me but the yellow arrow isn't a 100% system trade because it has already ran up 135pips from 9.00am gmt so V would be losing interest in longs I think. You did have an 15min HL hammer but you would have been going against the bearish two bar spike on the hourly after a big run.

I might be wrong but I thought I would try and answer.

Cheers Reflex.
  • #1,778
  • Jul 8, 2010 4:10pm Jul 8, 2010 4:10pm
Hi guys,

How would you've entered today in this "7-9GMT 1min LH reversal" trade?

I've marked some setup candles. The problem is, that they all close with a shave bottom and the next candle does not retrace the setup candle (except case 3 - which is 30 pips from the top).

Do you enter at the market?

Cheers

Thomas
Attached Image (click to enlarge)
Click to Enlarge Name: gu 1min.gif Size: 18 KB
  • #1,779
  • Jul 8, 2010 5:21pm Jul 8, 2010 5:21pm
Hi,

I played a bit with the Recent S/R indi from Hanover.

If anybody is interested I'll post the settings.

disregard the MAs - they are no system MAs

Cheers

Thomas
Attached Image (click to enlarge)
Click to Enlarge Name: gu h1.jpg Size: 135 KB
  • #1,780
  • Jul 8, 2010 6:41pm Jul 8, 2010 6:41pm
Hi Tdeu. I have played around with the Recent S/R indic so would appreciate a copy of your settings. It's a bit off topic, so best you PM me. Thanks.
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