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Higher low, lower high system

  • #2,001
  • Jul 29, 2010 7:54am Jul 29, 2010 7:54am
Quoting Vantage
9.55 gmt.
OK Cheers.
  • #2,002
  • Edited 6:02am Jul 30, 2010 3:48am | Edited 6:02am
This is not a system trade but one of the set ups we trade when it jumps out at us.

We missed the ej lh below 113.25, price moved down aggressively from the 5 min 8 lwma, so a pullback was likely. It came back close to 40 pips to struggle at the 112.75 area. Ej likes psych levels 75/25 and when it did not want to stay above there we sold for a scalp exiting just above the target 50 level for +18. 1 min chart.
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  • #2,003
  • Jul 30, 2010 6:01am Jul 30, 2010 6:01am
Heres another 1 on gu, 75 psych level, again the 1 min chart. One of keys to this trade for us are the (how shall I describe them) indecisive candles you'll see on 5 min. Another 18 pips on move down to 50.
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  • #2,004
  • Aug 2, 2010 1:44am Aug 2, 2010 1:44am
100% system buy (15 min set up candle vol was low though), Mrs V took this one. We were lucky to have stayed in. With Frankies half hour reversal looming, pa certainly hesitant to move up suggesting a poss 2b reversal we got out just above BE.
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  • #2,005
  • Aug 2, 2010 3:05am Aug 2, 2010 3:05am
I didn't get a nice entry on earlier gu move up.

Just got a 14 pip scalp on this 1 min hl trade above the 75 psych level.
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  • #2,006
  • Aug 2, 2010 3:25am Aug 2, 2010 3:25am
Quoting Vantage
I didn't get a nice entry on earlier gu move up.

Just got a 14 pip scalp on this 1 min hl trade above the 75 psych level.

.....from Malcolmb's VSA thread....LO was also a good one....

http://cdn.forexfactory.com/attachme...1&d=1280732673 http://cdn.forexfactory.com/attachme...1&d=1280732742
Trading Levels with WRBs
  • #2,007
  • Aug 2, 2010 3:28am Aug 2, 2010 3:28am
Keep up the great work Vantage, this strategy is amazing.

No more charts from me I don't want to confuse things.
  • #2,008
  • Aug 2, 2010 3:30am Aug 2, 2010 3:30am
Quoting Islander
.....from Malcolmb's VSA thread....LO was also a good one....

http://cdn.forexfactory.com/attachme...1&d=1280732673 http://cdn.forexfactory.com/attachme...1&d=1280732742
We got a few of them here too.
  • #2,009
  • Aug 2, 2010 3:35am Aug 2, 2010 3:35am
Quoting Islander
.....from Malcolmb's VSA thread....LO was also a good one....
Great trading again Islander we didn't take the LO bounce from 25 level that started the big run up. I supose you make a decision that you'll leave these or take them all (providing pa is not on its occassional roller coaster crazy up/down as it sometimes does at LO).

What is the bigger concern for us is whilst we are still up we are very hesitant, missing 3 good 1 min hl's in that move besides the 1 we took. There were 4/5 1 min hl's, 1 small losing trade.
  • #2,010
  • Aug 2, 2010 3:38am Aug 2, 2010 3:38am
With some lows going back to 2009 at 5800 and a W R1 at 5807 to provide res this could be tricky here, the lack of a bounce even with news would as usual for me suggest more upside. TWT.
  • #2,011
  • Aug 2, 2010 3:40am Aug 2, 2010 3:40am
Quoting jag1966
Keep up the great work Vantage, this strategy is amazing.

No more charts from me I don't want to confuse things.
Your contributions are always welcome, even if its pointing out 1 hr set ups (as I don't often show those charts) people should then be able to investigate their own 5 min entires.
  • #2,012
  • Aug 2, 2010 3:52am Aug 2, 2010 3:52am
This is the 1 min chart from gu. In the last few months I have been hesitant (need to work through that quickly now) anyway I have been pm'd several times to ask why I've dropped from 3-5 trades a day to 1-2.

This is a part of reason. 1 min gu after the initail hl bounce from 25 level there are great chances to get in, ma's give good angle up, 1 min hl buys in reaction to the various key levels/pivots (blue is D R1, yellow 38% ext of Fri's range, green D M4). Numerous trades and only 1 loser, 1 taken +14 go figure.

Anyway after the initial move trade method is good angle on ma's, hl/lh's with entry candle little no upper/lower wick (buy or sell) from a key level. This is 1 of 5 set ups we look to (used to at least haha) trade.
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  • #2,013
  • Aug 2, 2010 3:55am Aug 2, 2010 3:55am
Quoting Vantage
With some lows going back to 2009 at 5800 and a W R1 at 5807 to provide res this could be tricky here, the lack of a bounce even with news would as usual for me suggest more upside. TWT.
We have broken up to W R1 at 5807 se we'll need to see the reaction.
  • #2,014
  • Edited 4:06am Aug 2, 2010 3:59am | Edited 4:06am
Quoting Vantage
Your contributions are always welcome, even if its pointing out 1 hr set ups (as I don't often show those charts) people should then be able to investigate their own 5 min entires.
I was taught to trend trade, your h1 reversal and m5 lh/hl entry is pure trading a trend within a trend Vantage. Brilliant.

M5 entries H1 targets.

Here is what I saw H1 and m15, I dropped to the m1 for the 2b long.
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  • #2,015
  • Aug 2, 2010 8:44am Aug 2, 2010 8:44am
Hi Vantage got a nice trade at an extreme 15min with it after bounce off weekly MR2 at 15874 a nice LH and also from what I have learnt in Al Brooks book early longs would have been getting in on the hammer before with protective stops underneath the hammer adding more strenght to the short.
Traget was 15830 got nervous and took +15 on it ignore the green boxes there just something im using to try keep me in trades longer.

Cheers.
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  • #2,016
  • Aug 2, 2010 8:52am Aug 2, 2010 8:52am
Quoting reflex
Hi Vantage got a nice trade at an extreme 15min with it after bounce off weekly MR2 at 15874 a nice LH and also from what I have learnt in Al Brooks book early longs would have been getting in on the hammer before with protective stops underneath the hammer adding more strenght to the short.
Traget was 15830 got nervous and took +15 on it ignore the green boxes there just something im using to try keep me in trades longer.

Cheers.
Very nice counter trend trade. LH at key level, D range done, nice 15 min candle, entry candle little/no lower wick.
  • #2,017
  • Aug 3, 2010 2:38am Aug 3, 2010 2:38am
Just missed the FH move up, oh well.

After the LO got this push up from the days open. Target 5950/60 being psych level and a D pivot as they could be good short term pullback areas.
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  • #2,018
  • Aug 3, 2010 3:56am Aug 3, 2010 3:56am
Quoting Vantage
Just missed the FH move up, oh well.

After the LO got this push up from the days open. Target 5950/60 being psych level and a D pivot as they could be good short term pullback areas.
Price turned between 50/60 as expected. Exited +37 on half trade size.

Nice 2b entry followed some time later. I wasn't there to get but I'm sure some did, nice one.
  • #2,019
  • Aug 3, 2010 4:49am Aug 3, 2010 4:49am
Quoting Vantage
Price turned between 50/60 as expected. Exited +37 on half trade size.

Nice 2b entry followed some time later. I wasn't there to get but I'm sure some did, nice one.
I was looking for the retracement long into the H1 beeb. The 1 minute 2b off the h1 20 ema did the trick.
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  • #2,020
  • Aug 3, 2010 7:41am Aug 3, 2010 7:41am
Mmmh cannot remember what we have posted on 2b entries but this says its a variation of 1 2 3 reversals. That is a variation of hl/lh's.

2b reversal.

"In an uptrend, if prices penetrate the previous high but fail to carry through and immediately drop below the previous high, the trend is apt to reverse. The converse is true for downtrends."
[Vic Sperandeo in "Trader Vic: Methods of a Wall Street Master"]
The 2B principle gets its power from the large number of stop-loss orders in the area of the X. Many traders who bought the breakout will have their stop-loss orders there, so if prices fall below the blue line those stops will be hit, driving prices back down with thrust. If you enter a short as the breakout traders are bailing out of their positions, the burst of selling can propel your trade into the green so quickly that, before you can enter your stop-loss order, prices have moved far enough in your favor to set your initial stop-loss at break even. The inverse is equally effective for 2B bottoms.
Another name for the 2B is "spring." Imagine the blue line in the graphic as a rubber band. The bigger the poke above the blue line, the stronger the reversal potential if the breakout fails. This same principle works on failed triangle breakouts and failed trendline breakouts. If you were unfortunate and bought the breakout, instead of putting just a stop loss at the X, consider making it a stop-and-reverse. This pattern occurs at the tops and bottoms of consolidations as well as at major reversals.
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