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Higher low, lower high system

  • #1,821
  • Jul 12, 2010 4:57am Jul 12, 2010 4:57am
Quoting Vantage
Whilst I was away from computer Mrs V took this one and for whatever reason got out of it after a few pips. Yep I'm confused also but these things happen.
I think you guys must be hacked into my computer today or something. Same trade for me. 1st target previous swing low at 57. Thought we could break through there so was willing to allow a small bounce. Went right through as you could see. Once we headed through the 50 level I waited for price to come back which held nicely on the 1min. Following the 1min marubozu down to support with a hammer, I exited the trade at 111.43. +31.
  • #1,822
  • Jul 12, 2010 4:59am Jul 12, 2010 4:59am
Quoting Auron112
But would you actually be taking a trade if there's a short setup given the amount GU has already moved today?
Not now anyway as 1hr looks set to close positive and we're getting to that poss quiet time pre US session. So its wait and see what US brings.
  • #1,823
  • Jul 12, 2010 5:01am Jul 12, 2010 5:01am
Quoting Auron112
I think you guys must be hacked into my computer today or something. Same trade for me. 1st target previous swing low at 57. Thought we could break through there so was willing to allow a small bounce. Went right through as you could see. Once we headed through the 50 level I waited for price to come back which held nicely on the 1min. Following the 1min marubozu down to support with a hammer, I exited the trade at 111.43. +31.
Very nice still confused as to why Mrs V got out so early.
  • #1,824
  • Jul 12, 2010 5:07am Jul 12, 2010 5:07am
Quoting Vantage
Very nice still confused as to why Mrs V got out so early.
Yeah, that's a weird one. Especially because the 1min didn't even give a bullish close candle until under the 50 level. Oh well, there will be more to come.
  • #1,825
  • Jul 12, 2010 7:10am Jul 12, 2010 7:10am
I'll tell myself again I have to do all 100% system trades no matter where it is or what time of day it is!! white arrows are all missed entrys the 1st I was out of the room for but this one I would have held for 30-50pips looking for the 100-125pips run. Target was monthly MR1 near the 15130 also an S/R. The other to arrows were trades both worth 15 pips that I watched and didn't do becasue I missed the 1st entry. Can you confirm these were system trades guys. Not happy with myseld yet again.

the arrow down was left on from earlier.
Attached Image (click to enlarge)
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  • #1,826
  • Jul 12, 2010 7:15am Jul 12, 2010 7:15am
Quoting reflex
I'll tell myself again I have to do all 100% system trades no matter where it is or what time of day it is!!
I'll second that thought.

The left arrow up 100% system. Middle is a stretch to say its a hl but nevertheless a nice continuation candle. Right arrow up 100%.
  • #1,827
  • Jul 12, 2010 7:24am Jul 12, 2010 7:24am
Quoting Vantage
I'll second that thought.

The left arrow up 100% system. Middle is a stretch to say its a hl but nevertheless a nice continuation candle. Right arrow up 100%.
One day I will do every trade I see and I'll post trades I did do not should have done haha. theres lots of news out tomorow Vantage does euro news affect cable theres euro news at 7.00 the 7.45 then after gbp news at 9.30 theres more euro at 10.00 do you trade cable through euro news?
  • #1,828
  • Jul 12, 2010 7:42am Jul 12, 2010 7:42am
Quoting reflex
One day I will do every trade I see and I'll post trades I did do not should have done haha. theres lots of news out tomorow Vantage does euro news affect cable theres euro news at 7.00 the 7.45 then after gbp news at 9.30 theres more euro at 10.00 do you trade cable through euro news?
I wouldn't worry about the early low/medium eur news, if I'm in a trade when Ger ZEW comes out I'd look at where stops are to get t BE/lock in some profit before it comes out.
  • #1,829
  • Jul 12, 2010 8:00am Jul 12, 2010 8:00am
Quoting Vantage
I wouldn't worry about the early low/medium eur news, if I'm in a trade when Ger ZEW comes out I'd look at where stops are to get t BE/lock in some profit before it comes out.
Thats good I thought I was going to miss trades due to news so hopefully tomorow I will be posting good 100% system trades I have done.

Cheers Luke
  • #1,830
  • Jul 12, 2010 9:17am Jul 12, 2010 9:17am
This is what I think, why we had no follow through short.
A trend channel line overshoot. We see this almost every day at an extreme. Disregard the MA.

I took the long at 4960 instead and closed for 115pips.

BTW.
The high of the RN 1.5000 setup candle (10:50GMT) was at 1.5004. We've gone now exactly 80 pips to 1.5084 from there. Isn't this a nice coincidence?

Thomas

Quoting reflex
1st trade -8pips 15min was short hourly did have a bigish wick but I thought it was more bearish then bullish. Exit was above the 3 inside bars.
What do you think guys?
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  • #1,831
  • Jul 12, 2010 11:04am Jul 12, 2010 11:04am
Hi Vantage,

Would you consider this as a LH "extreme level" trade?
It bounced off of today's open and crossed yesterdays mid line.

Do to Monday - do these levels make any sense, because usually
Sunday's range is pretty small.

Cheers

Thomas
Attached Image (click to enlarge)
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  • #1,832
  • Jul 12, 2010 11:29am Jul 12, 2010 11:29am
Quoting tdeu
This is what I think, why we had no follow through short.
A trend channel line overshoot. We see this almost every day at an extreme. Disregard the MA.

I took the long at 4960 instead and closed for 115pips.

BTW.
The high of the RN 1.5000 setup candle (10:50GMT) was at 1.5004. We've gone now exactly 80 pips to 1.5084 from there. Isn't this a nice coincidence?

Thomas
Feel free to post such set ups in advance in future if you see them, cheers. Great trade.
  • #1,833
  • Jul 12, 2010 11:31am Jul 12, 2010 11:31am
Quoting tdeu
Hi Vantage,

Would you consider this as a LH "extreme level" trade?
It bounced off of today's open and crossed yesterdays mid line.

Do to Monday - do these levels make any sense, because usually
Sunday's range is pretty small.

Cheers

Thomas
Price has run up 130 pips back to the supp area from last week so yes I'd definitely consider that a lh at an extreme.
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  • #1,834
  • Jul 12, 2010 12:30pm Jul 12, 2010 12:30pm
Hi,

It seems, that the H1 8 lwma is used as a floating S/R. This could be a hint, where to look for setups.

Another thing:

Does anybody have a decent auto fib drawer, that can use previous days extremes to draw fibs + extensions?

Cheers

Thomas
  • #1,835
  • Edited 2:22pm Jul 12, 2010 1:57pm | Edited 2:22pm
This is the kind of trade I'm looking at too.

It's a nice trade for a deeper retrace during the day.

Confluence of S/R 1.501x (from H4), RN, fib extension from the top, trend channel line overshoot and an old setup (where the stops were run)

BTW. the 62% fib retrace (1.5000) of the days range (4947 and 5084) was there too

my entry was at 1.5001 and closed at 5033

I'm promising to be quicker to post this in the future

but sometimes one cannot see the wood for the trees quick enough to post the setup in time

cheers

Thomas
Attached Image (click to enlarge)
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  • #1,836
  • Jul 12, 2010 2:52pm Jul 12, 2010 2:52pm
found one



Quoting tdeu
Hi,

It seems, that the H1 8 lwma is used as a floating S/R. This could be a hint, where to look for setups.

Another thing:

Does anybody have a decent auto fib drawer, that can use previous days extremes to draw fibs + extensions?

Cheers

Thomas
Attached File(s)
File Type: mq4 AutoDayFibs.mq4   11 KB | 498 downloads
  • #1,837
  • Jul 13, 2010 12:55am Jul 13, 2010 12:55am
Quoting tdeu
Hi,

It seems, that the H1 8 lwma is used as a floating S/R. This could be a hint, where to look for setups.

Another thing:

Does anybody have a decent auto fib drawer, that can use previous days extremes to draw fibs + extensions?

Cheers

Thomas
You can also look at the fibs portion of pivots indi from 1st post. It also has a variable start time.
  • #1,838
  • Jul 13, 2010 12:58am Jul 13, 2010 12:58am
Quoting tdeu
This is the kind of trade I'm looking at too.

It's a nice trade for a deeper retrace during the day.

Confluence of S/R 1.501x (from H4), RN, fib extension from the top, trend channel line overshoot and an old setup (where the stops were run)

BTW. the 62% fib retrace (1.5000) of the days range (4947 and 5084) was there too

my entry was at 1.5001 and closed at 5033

I'm promising to be quicker to post this in the future

but sometimes one cannot see the wood for the trees quick enough to post the setup in time

cheers

Thomas
Yes this method is an attempt to create pretty solid entries under most conditions. If you believe that the retracement is sufficient you wouldn't wait for the 15 min to come back in line. In fact a 1 min close from a key level in line with main trend can work nicely.
  • #1,839
  • Jul 13, 2010 2:02am Jul 13, 2010 2:02am
Got a nice 40 pip short from cable based on the H1 chart, confirmed LH then the long wicked H1 candle 2 candles later.
I am using the m5 for tighter entries but like to use old sr from the m15 and h1 for targets.

Lovely stuff Vantage.
Attached Image (click to enlarge)
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  • #1,840
  • Jul 13, 2010 2:29am Jul 13, 2010 2:29am
Quoting jag1966
Got a nice 40 pip short from cable based on the H1 chart, confirmed LH then the long wicked H1 candle 2 candles later.
I am using the m5 for tighter entries but like to use old sr from the m15 and h1 for targets.

Lovely stuff Vantage.
Nice one.

I got a nice buy after a big 15 min hammer next 1 min hl, 4983, target D pivot/25 combo area, just got BE'd in that push down. BE becoming my middle name lately.
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