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Higher low, lower high system

  • #2,521
  • Aug 18, 2010 1:40am Aug 18, 2010 1:40am
Quoting orientos
Nice trade Auron - sure beats my very ordinary + 5. I thought E/J was very difficult to trade today.
With a range like that it's going to be pretty tough unless you're scalping on the 1min and really know what you're doing. Not my style. Hopefully things will move a bit now. In another EJ long off our new support.
  • #2,522
  • Aug 18, 2010 1:41am Aug 18, 2010 1:41am
Quoting Auron112
With a range like that it's going to be pretty tough unless you're scalping on the 1min and really know what you're doing. Not my style. Hopefully things will move a bit now. In another EJ long off our new support.
I'm open to ideas on how to trail positions.
  • #2,523
  • Aug 18, 2010 1:45am Aug 18, 2010 1:45am
Quoting Musashi
I'm open to ideas on how to trail positions.
I've got a LOT more testing to do before I will feel capable of making suggestions. For now I'm simply going with the normal bank at +20-25 FO/LO, then looks for runners to levels after that. Was not looking for a runner there with the news coming, but happy to get back in after.
  • #2,524
  • Aug 18, 2010 1:52am Aug 18, 2010 1:52am
Significant resistance here for EJ.

Showing reversal pattern here 7R
  • #2,525
  • Aug 18, 2010 2:10am Aug 18, 2010 2:10am
My first ever trade using rb7s. Went long on the bounce off rn & ema21 at 1.5608. Moved stop to 1.5635.

Steve
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  • #2,526
  • Aug 18, 2010 2:15am Aug 18, 2010 2:15am
Not going to move ahead so out at 1.5645.

Steve
  • #2,527
  • Aug 18, 2010 2:15am Aug 18, 2010 2:15am
Quoting zhdeef
My first ever trade using rb7s. Went long on the bounce off rn & ema21 at 1.5608. Moved stop to 1.5635.

Steve
Hi Steve

Nice trade.

I don't know if its an ema but what I see is once price has moved out of its range (above about 5535 today) and then retraces back to psych levels (00, 25, 50, 75) the 7RB hl's every time a winner.

Is this something that longer term users of 7RB notice? The nice hl/lh's around the psych levels?
  • #2,528
  • Aug 18, 2010 2:17am Aug 18, 2010 2:17am
Quoting Vantage
Is this something that longer term users of 7RB notice? The nice hl/lh's around the psych levels?
Yes it is Vantage... Shshh don't tell anyone though.
  • #2,529
  • Aug 18, 2010 2:23am Aug 18, 2010 2:23am
Quoting Musashi
Yes it is Vantage... Shshh don't tell anyone though.
Thanks M.

OK I'll keep that quiet. The other thing I've noticed and will keep quiet is that 7RB's seem to like multiple candle nice waves hl/lh's as opposed to the 1 candle hl/lh.
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  • #2,530
  • Aug 18, 2010 2:24am Aug 18, 2010 2:24am
Quoting Vantage
Hi Steve

Nice trade.

I don't know if its an ema but what I see is once price has moved out of its range (above about 5535 today) and then retraces back to psych levels (00, 25, 50, 75) the 7RB hl's every time a winner.

Is this something that longer term users of 7RB notice? The nice hl/lh's around the psych levels?
I've been looking at this GU during the news move. Like a magnet to those levels. Not a long term user by any means but in my week or so of watching these range bar charts it does seem to do an excellent job of showing how price reacts to these psych levels and could potentially make the decision making process on HLs and LHs that much easier. Quite interesting.
  • #2,531
  • Aug 18, 2010 2:28am Aug 18, 2010 2:28am
I prefer to stick to the 50 Pip Levels, and not so much the intervals in between.
  • #2,532
  • Aug 18, 2010 3:02am Aug 18, 2010 3:02am
Feel like sharing any more secrets brother??
  • #2,533
  • Aug 18, 2010 3:03am Aug 18, 2010 3:03am
Thought I'd try to get the next wave & went long at 1.5663. But my mistake, it doesn't look like a runner so out at 65.

Steve
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  • #2,534
  • Aug 18, 2010 3:09am Aug 18, 2010 3:09am
With hindsight, GU didn't have enough of a retracement to count as a next wave. Also must be running out of steam after 160 pips move today.

Steve
  • #2,535
  • Aug 18, 2010 3:15am Aug 18, 2010 3:15am
Quoting A-game
Feel like sharing any more secrets brother??
You must know that I have been trading with range bars for over a year now my friend.

You want to know secrets?

There is no secrets as far as I am aware.

Patience and Extremely Good Risk Management.
  • #2,536
  • Aug 18, 2010 3:17am Aug 18, 2010 3:17am
There's only one certainty in Trading --- That is that there is no Certainty
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  • #2,537
  • Aug 18, 2010 3:19am Aug 18, 2010 3:19am
LH setup on the EU 7R at some significant resistance.

Increasing chances of a successful trade.
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  • #2,538
  • Aug 18, 2010 3:20am Aug 18, 2010 3:20am
I would say that is a good life philosophy. What do i know? I know that i dont know...
  • #2,539
  • Aug 18, 2010 3:27am Aug 18, 2010 3:27am
Hi all no trades so far today for me. Looks like we might retrace a bit now the upper TL has been broke may go and test extreme and make LH setup.
and Vantage can you have a look at the chart below and tell me if this is what you call a 2B.

Thanks
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  • #2,540
  • Aug 18, 2010 3:27am Aug 18, 2010 3:27am
Quoting A-game
I would say that is a good life philosophy. What do i know? I know that i dont know...
Patience and a lot of screen time. Study how price moves, how it forms continuation patterns and how it forms reversal patterns, how price moves at a key level of S/R and round numbers.

Above all else have an exit strategy.
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