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Higher low, lower high system

  • #2,481
  • Aug 17, 2010 5:50am Aug 17, 2010 5:50am
1st trade of the day looking for DP am going to watch PA around that area and may look for breakout to 600.

Sorry for small chart forgot to enlarge
Attached Image (click to enlarge)
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  • #2,482
  • Aug 17, 2010 5:59am Aug 17, 2010 5:59am
Musashi can you please explain why you use 7RB as a pose to 5RB or 10RB for example? Why 7 (other than it rhymes with heaven)?
  • #2,483
  • Aug 17, 2010 6:02am Aug 17, 2010 6:02am
exited at 625 level.
might be wrong to have took it there but with two swing lows at the same area i didn't want ot wait for the 600.
  • #2,484
  • Aug 17, 2010 6:07am Aug 17, 2010 6:07am
Quoting A-game
Musashi can you please explain why you use 7RB as a pose to 5RB or 10RB for example? Why 7 (other than it rhymes with heaven)?
I will give you a chart, I'm having some technical problems at the moment
  • #2,485
  • Edited 7:50am Aug 17, 2010 6:21am | Edited 7:50am
Analysis of 1st trade on all TFs it was agaist the 15min but with a strong bear close off the 75 level on the 5min so it looked good.
1hr chart should say shoting star not hammer
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 2010-08-17_1219_001.jpg Size: 134 KB
  • #2,486
  • Aug 17, 2010 6:28am Aug 17, 2010 6:28am
If anyone is interested composite index had divergence at the top PA still just as good for showing the reversal but divergence can give me more confidence to do a trade.
Still wanted to wait for the LH though not confident enough on 2Bs
  • #2,487
  • Aug 17, 2010 8:32am Aug 17, 2010 8:32am
Quoting reflex
exited at 625 level.
might be wrong to have took it there but with two swing lows at the same area i didn't want ot wait for the 600.
Very nice trade. EV on psych thread did same one.
  • #2,488
  • Aug 17, 2010 8:53am Aug 17, 2010 8:53am
Quoting Vantage
Very nice trade. EV on psych thread did same one.
Cheers Vantage I will go over and have a look.
  • #2,489
  • Aug 18, 2010 12:26am Aug 18, 2010 12:26am
Good Morning London
  • #2,490
  • Aug 18, 2010 12:50am Aug 18, 2010 12:50am
Morning also. Nice move down on E/J during the Asian session with a lovely LH right at confluence with the 100.00 RN.
  • #2,491
  • Aug 18, 2010 12:59am Aug 18, 2010 12:59am
Dollar crosses having the most momentum so far it seems.
  • #2,492
  • Aug 18, 2010 1:16am Aug 18, 2010 1:16am
Trend is clearly down on cable so took the break of the last low with a close stop and out for + 21 at the RN. There was a LH on my RB chart that would have given you close to that.
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  • #2,493
  • Edited 1:29am Aug 18, 2010 1:18am | Edited 1:29am
5500 could be tough area going back to Apr highs.
  • #2,494
  • Aug 18, 2010 1:23am Aug 18, 2010 1:23am
I've got a EJ long position open right now.

Target area is round number.

109.85 could be a problem area.

I hope some can see why I decide to go long here.
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  • #2,495
  • Aug 18, 2010 1:33am Aug 18, 2010 1:33am
Ok first trade done.

Difficult decision to hold for a break here or not.

Probability is not.

+2% Increase to equity.
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  • #2,496
  • Aug 18, 2010 1:35am Aug 18, 2010 1:35am
Quoting Vantage
5500 could be tough area going back to Apr highs.

Mmmh we'll see how this plays out but so far, gu 5500 key area, small bounce up = more downside. TWT.
  • #2,497
  • Aug 18, 2010 1:47am Aug 18, 2010 1:47am
M. I would have gone long as my charts showed a double bottom followed by a HL.
  • #2,498
  • Aug 18, 2010 1:48am Aug 18, 2010 1:48am
Quoting Vantage
Mmmh we'll see how this plays out but so far, gu 5500 key area, small bounce up = more downside. TWT.
If it does keep going down the 5470 area should be a demand level, plus its the 61.8 of the last 4hr/daily swing. Of course, on MPC day I'm preparared for anything to happen so we shall see.
  • #2,499
  • Aug 18, 2010 1:49am Aug 18, 2010 1:49am
Quoting orientos
M. I would have gone long as my charts showed a double bottom followed by a HL.
Yes exactly. I hope you can see the entry candlestick pattern.
  • #2,500
  • Aug 18, 2010 1:51am Aug 18, 2010 1:51am
I am to be honest a little wary of the BOE minutes due 1hr 45 mins. A nice commentary just posted on Malcolmb's vsa thread.
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