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Higher low, lower high system

  • #2,561
  • Aug 19, 2010 4:30am Aug 19, 2010 4:30am
Quoting orientos
That's it for me - dinnertime now. Small loss on a failed 2B reversal (again) and +21 on another trade for +2.0% equity gain. There were not many opportunities on E/J that I could find. Good trading guys.

Hey O do you want to post that 2b set up the only one I saw was the ej sell at 110.10.
  • #2,562
  • Aug 19, 2010 4:58am Aug 19, 2010 4:58am
Hi Vantage, I have been watching this thread quietly, but a few things I am not sure of.

Could you please explain what the 2b reveral is?

Also how do you factor in risk to reward?

Thanks
  • #2,563
  • Aug 19, 2010 8:11am Aug 19, 2010 8:11am
Quoting dccooper
Hi Vantage, I have been watching this thread quietly, but a few things I am not sure of.

Could you please explain what the 2b reveral is?

Also how do you factor in risk to reward?

Thanks
Welcome.

See trade 3 in 1st post and the link that shows diagrams of these trades.

If I had know of this set up at the time I'd have named the thread differently. Basically we are looking for rejections of moves that cause the market to turn. 2b is a variation of the typical lh M formation and hl W formation in that prices slightly exceeds the previous extreme but is quickly rejected.

Prior to LO2 (London open is 8am gmt and but we regard 9am gmt also as important so LO2) we look to bank at important levels so RR would be 1:1.5 - 1:2 but after that if you choose not to bank you can get into the major moves of day.

So we are looking to bank in and around the typical LO head fake times and wanting to try getting into longer moves after that at same level of risk.

PS dbcooper would have been a seriously cool name.
  • #2,564
  • Aug 19, 2010 8:38am Aug 19, 2010 8:38am
Thanks for your help Vantage appreciated
  • #2,565
  • Aug 20, 2010 1:55am Aug 20, 2010 1:55am
To say that I am miffed to have missed this is an understatement.

15 min on good vol had a shooting star that could not break lower, at FH (half hour) reversal time. 5 min had a neg close candle on very low vol so sellers were backing off. CII divergence,, yes I have been looking at CII for divergence reasons, like I said I love divergence (Mrs V doesn't).

7RB entry good for maybe +20, 5 min chart attached as I don't use vol on 7RB.

EJ had similar set up.
Attached Image (click to enlarge)
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  • #2,566
  • Aug 20, 2010 2:04am Aug 20, 2010 2:04am
Quoting Vantage
To say that I am miffed to have missed this is an understatement.

15 min on good vol had a shooting star that could not break lower, at FH (half hour) reversal time. 5 min had a neg close candle on very low vol so sellers were backing off. CII divergence,, yes I have been looking at CII for divergence reasons, like I said I love divergence (Mrs V doesn't).

7RB entry good for maybe +20, 5 min chart attached as I don't use vol on 7RB.

EJ had similar set up.
I took EJ, it looked clearer to me V. C11 is the doggies. Gotta love those 2b targets too.
Attached Image (click to enlarge)
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  • #2,567
  • Aug 20, 2010 2:05am Aug 20, 2010 2:05am
Quoting jag1966
I took EJ, it looked clearer to me V. C11 is the doggies.
Mrs V did too.
  • #2,568
  • Aug 20, 2010 2:28am Aug 20, 2010 2:28am
Hi Vantage
What is 7RB is it 7 range bar or 7 pip renko bar? did u post the rule for this in first page as well?
thanks
  • #2,569
  • Aug 20, 2010 2:38am Aug 20, 2010 2:38am
Quoting hoichoi
Hi Vantage
What is 7RB is it 7 range bar or 7 pip renko bar? did u post the rule for this in first page as well?
thanks
Hi hoichoi
Long time no see.

Its a 7 range bar. We haven't posted any new rules as yet. Some situations (which you'll see discussed here and there over last 5-10 pages) I like, others I still have to consider.
  • #2,570
  • Aug 20, 2010 2:48am Aug 20, 2010 2:48am
Mrs V just sold gu. We were on a hl/hh series which ended with a low vol push up and 2 spinning tops. 7RB showing a nice lh. Stop to BE quick as 5550 can be a bounce area if that fails then hopefully Y's low/5500. Jag prob also saw the CII divergence.
Attached Image (click to enlarge)
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  • #2,571
  • Aug 20, 2010 2:56am Aug 20, 2010 2:56am
Folowing this i made some nice pips, keep posting !

Simple and good.


B,
Tom
  • #2,572
  • Aug 20, 2010 3:12am Aug 20, 2010 3:12am
Quoting tfflyer
Folowing this i made some nice pips, keep posting !

Simple and good.


B,
Tom
Welcome Tom.

Pls post some of your charts. Oh yes if you like it rate it.

Cheers.
  • #2,573
  • Aug 20, 2010 3:19am Aug 20, 2010 3:19am
Always a pain when you get stopped out at BE and theres a lh, 100% system trade 10 pips later. Oh well LO2 could have done anything.
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  • #2,574
  • Aug 20, 2010 3:23am Aug 20, 2010 3:23am
want to read this over the weekend to know what it's all about. Subscribed.
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #2,575
  • Aug 20, 2010 3:27am Aug 20, 2010 3:27am
Quoting Precap2
want to read this over the weekend to know what it's all about. Subscribed.
Welcome also. Hope it helps.
  • #2,576
  • Aug 20, 2010 3:29am Aug 20, 2010 3:29am
Here's a 7RB trade I just exited on E/J . There was a 123 entry and a LH at confluence with xx50. It took forever, but I finally exited near yesterday's low for +14.
Attached Image
  • #2,577
  • Aug 20, 2010 3:31am Aug 20, 2010 3:31am
Quoting Vantage
Always a pain when you get stopped out at BE and theres a lh, 100% system trade 10 pips later. Oh well LO2 could have done anything.
Hi Vantage I did the same trade exited half at 536 with stop at BE now but its 9.30 so maybe time for a turn around off the low of the range on the hour.
Are you liking the CI indicator?
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  • #2,578
  • Aug 20, 2010 3:32am Aug 20, 2010 3:32am
Quoting orientos
Here's a 7RB trade I just exited on E/J . There was a 123 entry and a LH at confluence with xx50. It took forever, but I finally exited near yesterday's low for +14.
Hey O nice one. We for some reason (it happens) gu focused today. I'll be glad when Aug is finished and normal vol's return.

Stop to BE on gu sell +13 hit 2nd time after bounce.
  • #2,579
  • Aug 20, 2010 3:34am Aug 20, 2010 3:34am
Quoting reflex
Hi Vantage I did the same trade exited half at 536 with stop at BE now but its 9.30 so maybe time for a turn around off the low of the range on the hour.
Are you liking the CI indicator?
Looks good for divergence, I like it for that, Mrs V not.

Can't seem to find out much about it, do you have a source for info?
  • #2,580
  • Aug 20, 2010 3:38am Aug 20, 2010 3:38am
I am not a big divergence fan, but would someone be kind enough to post the indicator please. Thanks.
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