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Higher low, lower high system

  • #1,841
  • Jul 13, 2010 2:53am Jul 13, 2010 2:53am
Quoting 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.
The fact that the 15min hammer was on relatively low volume concerned me, so I stood aside. No worries for you in that regard? Otherwise, I liked the area, the bar itself and obviously the close so I thought there was a good chance it would push up but I was concerned that the push up may not be that strong without more buyers. More volume and I would have been there with you.
  • #1,842
  • Jul 13, 2010 3:15am Jul 13, 2010 3:15am
Quoting Auron112
The fact that the 15min hammer was on relatively low volume concerned me, so I stood aside. No worries for you in that regard? Otherwise, I liked the area, the bar itself and obviously the close so I thought there was a good chance it would push up but I was concerned that the push up may not be that strong without more buyers. More volume and I would have been there with you.
As far as I am aware from the vsa guys a hammer on strong or low vol is generally a good reversal. If you think of the logic in a move down if small vol can cause a big wick and close at top of candle then sellers definitely not around.

So I was happy with my reversal candle next 1 min move trade. Just pulling my hair out at lack of progress this month.
  • #1,843
  • Jul 13, 2010 4:27am Jul 13, 2010 4:27am
Quoting 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.
Nice entry Vantage and a new one for me so another tool for the toolbox.

Vantage can you please confirm what you look for on the h1 candle please, is it just a break of the prior high or low or is it a close above the high or below the low. I have searched the thread and cannot find a definitive answer.

Thanks again.
  • #1,844
  • Jul 13, 2010 4:47am Jul 13, 2010 4:47am
Hello Vantage

I have been reading this thread for a while now, and would like to say thanks for all the great info that you post on here!

I wonder if you could help me, I'd like to know if/when you use your 8LWMA.... do you only take shorts below and longs above - or do you just use it as a general guide?

Also, when you say that your system is 75%/25% are the 25% all -16pip trades??

Thanks in advance
  • #1,845
  • Jul 13, 2010 4:52am Jul 13, 2010 4:52am
Quoting jag1966
Nice entry Vantage and a new one for me so another tool for the toolbox.

Vantage can you please confirm what you look for on the h1 candle please, is it just a break of the prior high or low or is it a close above the high or below the low. I have searched the thread and cannot find a definitive answer.

Thanks again.
The obvious strong reversals, hammers/shooting stars have to be top of the list.

A break of the prev candle high/low is good because any candle that cannot do that is potentially going to chop in the range that has formed.

The prev candles also help eg a 1hr hammer that has closed red ie lower than it opened can also be followed by a small green ie pos close. The pos close candle may not break higher than prev 1 hr open. So its in its range and can chop but I think I'd just be looking to buy. See arrow up.

See the arrow down for a similar set up on a sell. Green close SS, followed by a neg close inside bar. Hasn't broken range but I'd just be thinking sell.

Sometimes then 1 candle can give clear direction, sometimes its the bigger picture.
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  • #1,846
  • Jul 13, 2010 5:20am Jul 13, 2010 5:20am
1st trade off weekly pivot and extreme so didn't need hourly confirmer I did have a 15min shooting star took this lower high on the 5min +14pips exit was previous days high. after the bar I entered on it formed a hammer off the RN so I was going to get out 1 pip above but price never went 1pip above.
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  • #1,847
  • Jul 13, 2010 6:02am Jul 13, 2010 6:02am
GU
we might go down to 1.505x before we see a bounce
  • #1,848
  • Jul 13, 2010 6:03am Jul 13, 2010 6:03am
Quoting reflex
1st trade off weekly pivot and extreme so didn't need hourly confirmer I did have a 15min shooting star took this lower high on the 5min +14pips exit was previous days high. after the bar I entered on it formed a hammer off the RN so I was going to get out 1 pip above but price never went 1pip above.
Nice trade reflex, I took that one too using the m15 shooting star and 1 minute LH entry, target 1.5075
  • #1,849
  • Jul 13, 2010 6:15am Jul 13, 2010 6:15am
it seems, that 35 pips (or 34.x pips) is a common target for TP
have a look from your setup candle

I see this a lot

"GU - we might go down to 1.505x before we see a bounce"
wrong call with the retrace

there was a M1 trend channel line overshoot and a 262% fib extension (drawn on M5) before

the problem with fibs is - you need to draw them like most people would

Thomas

Quoting jag1966
Nice trade reflex, I took that one too using the m15 shooting star and 1 minute LH entry, target 1.5075
  • #1,850
  • Jul 13, 2010 6:15am Jul 13, 2010 6:15am
Quoting jag1966
Nice trade reflex, I took that one too using the m15 shooting star and 1 minute LH entry, target 1.5075
Cheers was 75 your target because its a psych level or was there other reasons? I had 80 as target after previous days high I could have had an extra 8 pips waiting for 75.
  • #1,851
  • Jul 13, 2010 6:31am Jul 13, 2010 6:31am
50 area has a nice 38% fib, M3, W M2 combo. 75 area has been major S/R over last week.
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  • #1,852
  • Jul 13, 2010 6:36am Jul 13, 2010 6:36am
Has anyone thought to add an alarm to the recent candles indicator yet? An alarm when M15 close is in line with H1 close would be very useful and allow us to trade more pairs without the added screen time. In effect, the alarm would warn us when a potential setup arises, and also increase deal flow given that we are trading more currency pairs?
  • #1,853
  • Jul 13, 2010 6:55am Jul 13, 2010 6:55am
Quoting reflex
Cheers was 75 your target because its a psych level or was there other reasons? I had 80 as target after previous days high I could have had an extra 8 pips waiting for 75.
The H1 line chart showed SR, and the psycho 25 point level confluence.

Vantage, thanks for your reply about H1 candles.

Loving these entries Vantage thanks.
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  • #1,854
  • Jul 13, 2010 6:59am Jul 13, 2010 6:59am
This system would work great in a trending market but what are the results like in a range bound market?
  • #1,855
  • Jul 13, 2010 7:04am Jul 13, 2010 7:04am
Quoting sharpster
This system would work great in a trending market but what are the results like in a range bound market?
How many pips do you fancy in a range? In around 40 pips theres a couple of nice trades posted above. GU's pa is likely to give enough pips in the vast majority of sessions where the rules comply (hl/lh at extreme at key level or following 1hr, 15 min and 5 min lh/hl).

No-one here I suppose can convince anyone else so I'll say pick a ranging time period and have a look at the charts. Its not perfect, its not the grail but then what is? It is pretty solid pa trading IMHO.
  • #1,856
  • Jul 13, 2010 7:06am Jul 13, 2010 7:06am
Quoting Vantage
How many pips do you fancy in a range? In around 40 pips theres a couple of nice trades posted above. GU's pa is likely to give enough pips in the vast majority of sessions where the rules comply (hl/lh at extreme at key level or following 1hr, 15 min and 5 min lh/hl).

No-one here I suppose can convince anyone else so I'll say pick a ranging time period and have a look at the charts.
Oh and I've been trading full time for several years now using this as my main method of trading.
  • #1,857
  • Jul 13, 2010 7:23am Jul 13, 2010 7:23am
Quoting sharpster
This system would work great in a trending market but what are the results like in a range bound market?
Theres no secret indicators here just good solid pa trading, as you well know most things are not as good in ranging markets, secret grails excluded , and I haven't got that.
  • #1,858
  • Jul 13, 2010 7:24am Jul 13, 2010 7:24am
Quoting sharpster
This system would work great in a trending market but what are the results like in a range bound market?
The markets are fractal so you can trade a 1 minute / 5 minute trend on a 60 minute range, that's good enough for me.
  • #1,859
  • Jul 13, 2010 7:27am Jul 13, 2010 7:27am
Getting cranky in my old age, first person ever to go on my ignore list, pm if you feel like and we can discuss. Moving on .......................................
  • #1,860
  • Jul 13, 2010 7:37am Jul 13, 2010 7:37am
Should we go up from here would expect 5170 62% ext on Y's range, W R1 5184 and 5200 to be general area where to top out.
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