Higher low, lower high system | Page 103 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

What are Higher High, Higher Low, Lower High and Lower Low? 11 replies

How to program Higher-High Higher-Low 19 replies

Higher High/Higher Low indicator conversion from 4 to 5 decimals. Help anyone? 2 replies

Can u point me to code 2 show each bar with a higher high & higher low? 2 replies

High to High and Low to low time cycles 1 reply

Attachments: Higher low, lower high system
Exit Attachments

Higher low, lower high system

  • #2,041
  • Aug 5, 2010 9:13am Aug 5, 2010 9:13am
Quoting eyevoltage
Could you do us a favour, mate, or any other of the regulars? Just check this set-up for me and let me know if it's a "goer". I'm still a bit "iffy" regarding MTF set-ups, so a word to the wise would be appreciated.
Cheers

Edit: Arrows indicate 1st candle of the hour.
Hi EV
How I see it.

The 1hr has closed in lower half ie negative but has large wick that failed again to close below the Asian lows ie iffy.

The 30 min has a doji/hammer again a problem for a move down.

15 min. A high vol hammer followed by a shooting star.

This is conflicting just a little too much for me. IF (and I'm not) I sold a 5 min lh I'D HAVE SMALL STOP PERHAPS LOWER LOT SIZE AND WOULD MOVE AND PROTECT MY SELL ASAP.

Looking at the support here most prob suggests a move up. You maybe know me as if in doubt leave. Theres much better set ups than a sell here for now. We could get a failed move up that suggests a sell at some future time, just not now.
  • #2,042
  • Aug 5, 2010 9:37am Aug 5, 2010 9:37am
Quoting Vantage
Hi EV
How I see it.

The 1hr has closed in lower half ie negative but has large wick that failed again to close below the Asian lows ie iffy.

The 30 min has a doji/hammer again a problem for a move down.

15 min. A high vol hammer followed by a shooting star.

This is conflicting just a little too much for me. IF (and I'm not) I sold a 5 min lh I'D HAVE SMALL STOP PERHAPS LOWER LOT SIZE AND WOULD MOVE AND PROTECT MY SELL ASAP.

Looking at the support here most prob suggests a move up. You maybe know me as if in doubt leave. Theres much better...
Many thanks, Dave.....much appreciated. Your reasoning and your conclusions are much clearer to me now. Thanks, mate.

By the way, how was Mrs. V's hair?
  • #2,043
  • Aug 5, 2010 9:38am Aug 5, 2010 9:38am
Quoting Vantage
Hi EV
How I see it.

The 1hr has closed in lower half ie negative but has large wick that failed again to close below the Asian lows ie iffy.

The 30 min has a doji/hammer again a problem for a move down.

15 min. A high vol hammer followed by a shooting star.

This is conflicting just a little too much for me. IF (and I'm not) I sold a 5 min lh I'D HAVE SMALL STOP PERHAPS LOWER LOT SIZE AND WOULD MOVE AND PROTECT MY SELL ASAP.

Looking at the support here most prob suggests a move up. You maybe know me as if in doubt leave. Theres much better...
Ev When I first looked I looked at the 1hr candle arrow down, which closed around 113.12. I wouldn't be selling as explained above.

The 5 min chart that has an arrow down at 113.45. I don't mind selling lower highs like this if it goes against say a 15 min candle IF the lower high is going to take out the 15 min candle low and the higher level charts are agreeing ie negative.
  • #2,044
  • Aug 5, 2010 9:41am Aug 5, 2010 9:41am
Quoting Vantage
Ev When I first looked I looked at the 1hr candle arrow down, which closed around 113.12. I wouldn't be selling as explained above.

The 5 min chart that has an arrow down at 113.45. I don't mind selling lower highs like this if it goes against say a 15 min candle IF the lower high is going to take out the 15 min candle low and the higher level charts are agreeing ie negative.
I think we need a chart to clarify. Left arrow down OK. Right arrow down too much conflicting info not OK, see what I thought above. http://www.forexfactory.com/showpost...postcount=2041
Attached Image (click to enlarge)
Click to Enlarge Name: 9.gif Size: 22 KB
  • #2,045
  • Aug 5, 2010 9:41am Aug 5, 2010 9:41am
Quoting Vantage
Ev When I first looked I looked at the 1hr candle arrow down, which closed around 113.12. I wouldn't be selling as explained above.

The 5 min chart that has an arrow down at 113.45. I don't mind selling lower highs like this if it goes against say a 15 min candle IF the lower high is going to take out the 15 min candle low and the higher level charts are agreeing ie negative.

Yep, I see that. Thanks, Dave.
  • #2,046
  • Aug 5, 2010 9:44am Aug 5, 2010 9:44am
Quoting eyevoltage
Many thanks, Dave.....much appreciated. Your reasoning and your conclusions are much clearer to me now. Thanks, mate.

By the way, how was Mrs. V's hair?
I said 'was the hairdresser closed'. She took it well, I'm sure my limp will go away soon and the bruises are hardly noticeable.
  • #2,047
  • Aug 5, 2010 9:50am Aug 5, 2010 9:50am
Quoting Vantage
We could get a failed move up that suggests a sell at some future time, just not now.
The 15 min has turned and had a low vol neg close. On the 1 hand this could merely be a test. There is a 5 min lower high. I haven't sold here BUT if I was a seller down here I'm at least more comfortable selling in line with a neg close 15 min.

The vsa guys are much better than me at spotting these tests. You'd have to be thinking if the big boys wanted price lower after a high vol hammer earlier you'd need some more vol here.
Attached Image (click to enlarge)
Click to Enlarge Name: 9.gif Size: 22 KB
  • #2,048
  • Aug 5, 2010 9:55am Aug 5, 2010 9:55am
Quoting Vantage
I said 'was the hairdresser closed'. She took it well, I'm sure my limp will go away soon and the bruises are hardly noticeable.
Didn't think you'd have the bottle, pal!!


  • #2,049
  • Aug 5, 2010 10:02am Aug 5, 2010 10:02am
Quoting Vantage
The 15 min has turned and had a low vol neg close. On the 1 hand this could merely be a test. There is a 5 min lower high. I haven't sold here BUT if I was a seller down here I'm at least more comfortable selling in line with a neg close 15 min.

The vsa guys are much better than me at spotting these tests. You'd have to be thinking if the big boys wanted price lower after a high vol hammer earlier you'd need some more vol here.
Last email on this set up but a decent example of how I'd look to wait for candles to agree.

The blue highlighted area, no trades. Either going directly against a just closed 15 high vol hammer or the lh doesn't follow through lower so no trade.

The arrow down lower high that co-incided with a 15 min neg close at least gave a chance of a successful trade.

Take care going against those 15 min candles.
Attached Image (click to enlarge)
Click to Enlarge Name: 9.gif Size: 22 KB
  • #2,050
  • Aug 5, 2010 10:18am Aug 5, 2010 10:18am
two more entrys after the bounce off 50 2nd arrow from right is a bear flag breakout and arrow at right a breakout pullback short both just LHs really but I just like using the channels/flags for more confidence in trades it had also overshoot a TL on the 5min so was more than likely going to test the extreme (50) or carry on with the down move.
target lower channel on the hour (yellow line) also near days low and WR1 being carefull of it holding 50.
If you dont want the trendlines ect being mentioned in the thread just say Vantage and I'll leave them out. its just been reading Al Brooks alot lately at 1st when I read it was hard for me to understand as you know I pm you about it lol but the more I read it the easier its getting.

Cheers
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2010-08-05_1613.jpg Size: 157 KB
Click to Enlarge Name: 2010-08-05_1614.jpg Size: 153 KB
  • #2,051
  • Aug 5, 2010 10:23am Aug 5, 2010 10:23am
Quoting reflex
two more entrys after the bounce off 50 2nd arrow from right is a bear flag breakout and arrow at right a breakout pullback short both just LHs really but I just like using the channels/flags for more confidence in trades it had also overshoot a TL on the 5min so was more than likely going to test the extreme (50) or carry on with the down move.
target lower channel on the hour (yellow line) also near days low and WR1 being carefull of it holding 50.
If you dont want the trendlines ect being mentioned in the thread just say Vantage and I'll leave...
Very nice.

I have no problem with the TL's or anything you (or anyone else) puts on. We could even have every indi in the book loaded, as long as ultimately we have entries on hl/lh's.
  • #2,052
  • Edited 12:13pm Aug 5, 2010 11:53am | Edited 12:13pm
Hi guys,

back at the screen. Had lots of time to read...

Look at this M1 chart. The most important thing is to find out if we're in a trend and then only take With Trend entries.

From THE book:
"Traders need to see two-legged corrections because they set up excellent With Trend entries."

Setup candles are yellow. Entry on break of candle.

Have a look at how price almost always retraces to the entry area (green hor. lines).

This is important for trade management.
TP1 at R/R=1 and the rest is up to price action. Most setups run at least to R/R=3. This would mean an average R/R of 2.

The yellow hor. line means the M5 candles of 8:25 and 8:55 GMT had exactly the same low. The first (8:25) was a H2 on M5.

It was the FIRST H2 setup on M5 after the reversal.

From THE book:
"If you are an institutional trader and you bought that High 2, you do not want it to fail, and you will buy more all the way down to one tick above that key protective stop price. That institution is using price action to support their long."

Cheers

Thomas

PS
disregard the arrows - just outside bars
Attached Image (click to enlarge)
Click to Enlarge Name: print.jpg Size: 108 KB
  • #2,053
  • Aug 5, 2010 12:14pm Aug 5, 2010 12:14pm
Quoting tdeu
Hi guys,

back at the screen. Had lots of time to read...

Look at this M1 chart. The most important thing is to find out if we're in a trend and then only take With Trend entries.

From THE book:
"Traders need to see two-legged corrections because they set up excellent With Trend entries."

Setup candles are yellow. Entry on break of candle.

Have a look at how price almost always retraces to the entry area (green hor. lines).

This is important for trade management.
TP1 at R/R=1 and the rest is up to price action. Most...
Wow , nice chart Thomas and very interesting. I will deffo read "the book" thanks. I was just about to post my chart in response to reflex's post and add my take on the addition of trend analysis to help us. I will do so next post.
  • #2,054
  • Aug 5, 2010 12:22pm Aug 5, 2010 12:22pm
Quoting reflex
two more entrys after the bounce off 50 2nd arrow from right is a bear flag breakout and arrow at right a breakout pullback short both just LHs really but I just like using the channels/flags for more confidence in trades it had also overshoot a TL on the 5min so was more than likely going to test the extreme (50) or carry on with the down move.
target lower channel on the hour (yellow line) also near days low and WR1 being carefull of it holding 50.
If you dont want the trendlines ect being mentioned in the thread just say Vantage and I'll leave...
I hope the chart is clear but having spent years working with trend analysis and seeing how well it works I just had to bring your attention to it. All it is is the internal view of the three H1 candles.

Google "martin pring peaks and troughs" for a better explanation of how he views a trend.

Just something else to consider before taking Daves m5 hl / lh entry.

I notice 1.5884 was a blue line on Daves chart from earlier, some sort of pivot?
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 23 KB
  • #2,055
  • Aug 5, 2010 1:31pm Aug 5, 2010 1:31pm
Quoting jag1966
I hope the chart is clear but having spent years working with trend analysis and seeing how well it works I just had to bring your attention to it. All it is is the internal view of the three H1 candles.

Google "martin pring peaks and troughs" for a better explanation of how he views a trend.

Just something else to consider before taking Daves m5 hl / lh entry.

I notice 1.5884 was a blue line on Daves chart from earlier, some sort of pivot?
Cheers jag1966 I will have a read on that tonight and tomorow I won't be trading because of NFP so will have lots of time to read.
I'm not sure what 1.5884 is. My weekly mid resistance is 1.5874.
In future when I post charts I'll write my PA reading up on all TFs and I would appreciate it if you could all give me your views on the PA around the area of the trades if you have a bit of spare time inbetween trading.

PA reading is something I'm really trying to work on at the moment.

Thanks.
  • #2,056
  • Edited 2:22pm Aug 5, 2010 2:05pm | Edited 2:22pm
Quoting Vantage
I'll second that thought.

Auron I'm sure did not mean anything bad, we go back a long way. What is amazing though is recently my profits have been lower. I've made my peace with that but will continue to work on those issues.
Nope, didn't mean anything bad. That's why I added the smiley. I was basically just hinting at what Medici said, that the strategy always seems to be changing, yet is consistently profitable. Adaptation to current market conditions is what being a successful trader is all about.

Now I just have to decide how best to sort out my MT4 screen if I add another window. Four windows worked pretty nicely, but adding the fifth may mean cycling through the higher timeframes or something instead of having it all on the screen at once.
  • #2,057
  • Aug 5, 2010 5:25pm Aug 5, 2010 5:25pm
Quoting tdeu
Hi guys,

back at the screen. Had lots of time to read...

Look at this M1 chart. The most important thing is to find out if we're in a trend and then only take With Trend entries.

From THE book:
"Traders need to see two-legged corrections because they set up excellent With Trend entries."

Setup candles are yellow. Entry on break of candle.

Have a look at how price almost always retraces to the entry area (green hor. lines).

This is important for trade management.
TP1 at R/R=1 and the rest is up to price action. Most...
Hey Thomas I just wanted to clarify that this is from the Al Brooks book correct? I've got it saved on my computer and have read about the first 150 pages or so but find it very hard to understand what he's talking about. He has a very confusing way of writing, to me at least. Looks like I need to give it another go, thanks for the nice chart and info.

trublu
  • #2,058
  • Aug 6, 2010 1:02am Aug 6, 2010 1:02am
Quoting Vantage
Very nice.

I have no problem with the TL's or anything you (or anyone else) puts on. We could even have every indi in the book loaded, as long as ultimately we have entries on hl/lh's.
Oooops forgot to mention 2b variation. Why add 2b because its test and failure, like hl/lh's are tests and failures. If I'd have known about 2b from the start it would have been in.
  • #2,059
  • Aug 6, 2010 1:09am Aug 6, 2010 1:09am
Quoting jag1966
I notice 1.5884 was a blue line on Daves chart from earlier, some sort of pivot?
Was that days open fxpro chart time.
  • #2,060
  • Aug 6, 2010 1:17am Aug 6, 2010 1:17am
Quoting Vantage
Was that days open fxpro chart time.
Ah yes that looks like it, thanks
0 traders viewing now