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Higher low, lower high system

  • #2,721
  • Aug 26, 2010 3:09am Aug 26, 2010 3:09am
Nice clean H/L on gu 7R

Is this counter trend trade? I have no idea... intraday trend is up still..
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  • #2,722
  • Aug 26, 2010 3:09am Aug 26, 2010 3:09am
Quoting Musashi
it kinda hurts my eyes to look at it

Lol whys that so many lines?
  • #2,723
  • Aug 26, 2010 3:13am Aug 26, 2010 3:13am
Quoting reflex
Lol whys that so many lines?
Take a look at my chart compared to yours and you tell me why...

  • #2,724
  • Aug 26, 2010 3:14am Aug 26, 2010 3:14am
Just about 1:1 on that trade
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  • #2,725
  • Edited 3:30am Aug 26, 2010 3:17am | Edited 3:30am
2nd trade.

OUT +20
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  • #2,726
  • Aug 26, 2010 3:32am Aug 26, 2010 3:32am
Hrmm price action S/R eh...
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  • #2,727
  • Aug 26, 2010 3:34am Aug 26, 2010 3:34am
Same as you Reflex. Can you perhaps space your candles out just a touch more to make them bigger, easier to read.

We exited at 25 level for +23.

This was against pos close 15 min candles but 15 min had upper wick and the vol in move up on 5 min clearly falling away. The res area is clearly shown on 5 min at the 5565 W pivot. The 7RB entry was there but showing the 5 min as for us it just seemed to show the res area clearer.
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  • #2,728
  • Aug 26, 2010 3:44am Aug 26, 2010 3:44am
Quoting Vantage
Same as you Reflex. Can you perhaps space your candles out just a touch more to make them bigger, easier to read.

We exited at 25 level for +23.

This was against pos close 15 min candles but 15 min had upper wick and the vol in move up on 5 min clearly falling away. The res area is clearly shown on 5 min at the 5565 W pivot. The 7RB entry was there but showing the 5 min as for us it just seemed to show the res area clearer.
Yeah same reason as you for exit didn't quite get there on my chart but 26 was good enough.

And yeah I will space them out more from now on

ALso would have still been holding half of other position if I had done the 1st one stops were still at 15566 as posted earlier.

Cheers.
  • #2,729
  • Aug 26, 2010 4:46am Aug 26, 2010 4:46am
Quoting Vantage
Same as you Reflex. Can you perhaps space your candles out just a touch more to make them bigger, easier to read.

We exited at 25 level for +23.

This was against pos close 15 min candles but 15 min had upper wick and the vol in move up on 5 min clearly falling away. The res area is clearly shown on 5 min at the 5565 W pivot. The 7RB entry was there but showing the 5 min as for us it just seemed to show the res area clearer.
Looks like this was the trade of the morning, you,Islander,Eyevoltage and more than likely Medici. If I'd known you were all in I'd have risked 50% haha (joke.)
  • #2,730
  • Aug 26, 2010 4:53am Aug 26, 2010 4:53am
Quoting reflex
Looks like this was the trade of the morning, you,Islander,Eyevoltage and more than likely Medici. If I'd known you were all in I'd have risked 50% haha (joke.)
Haha you know what they say, 'great minds think alike, fools seldom differ'.
  • #2,731
  • Aug 26, 2010 6:19am Aug 26, 2010 6:19am
+1.6% today using 0.5% risk

How goes the range bars guys and gals?
  • #2,732
  • Aug 26, 2010 6:27am Aug 26, 2010 6:27am
Another example of a TL break and 20ema gap that I have mentioned before.
Only problem is alot of the time they are aginst the 15min there was a bout 8pips of wick on the 15min candle though.
two more LH entrys after the setup aswell.

I didn't take this as had finished for the morning.
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  • #2,733
  • Aug 26, 2010 8:00am Aug 26, 2010 8:00am
Sometimes you just get lucky !!!
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  • #2,734
  • Aug 26, 2010 9:19am Aug 26, 2010 9:19am
There have been loads of good trades today Vanatge off key S/Rs fibs TLs ect.
I have to admit I'm not sure what the 15min and 1hr looked like on most of these as I haven't been paying as much attention to them as we have been rangy for last couple weeks.

Still all good LH entrys wish I could say I did them all!
The 1st arrow was a -15 but not sure if most of you would have seen this as a signal probs my mistake.

And you could have held No.1 and no.2 till key areas on the hour.

5min and 1hr chart below showing the targets of S/R on the hour.

Cheers.
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  • #2,735
  • Aug 26, 2010 9:59am Aug 26, 2010 9:59am
Hi guys

Coming to crash your lovely thread! Have been making my way through this thread today and lots and lots of fab information to help the (relative) novice, so thank you!

Just a quick question re GU today. The 15:35 (M5) candle was the start of a 2b reversal. Would you have taken the trade given that the weekly pivot was so close? Or am I reading it completely wrong?
  • #2,736
  • Edited 10:31am Aug 26, 2010 10:24am | Edited 10:31am
Quoting Delite
Hi guys

Coming to crash your lovely thread! Have been making my way through this thread today and lots and lots of fab information to help the (relative) novice, so thank you!

Just a quick question re GU today. The 15:35 (M5) candle was the start of a 2b reversal. Would you have taken the trade given that the weekly pivot was so close? Or am I reading it completely wrong?
Hi Delite
Welcome here, any questions, any time we'll try helping.

I have attached the 5 min and 15 min charts.

The 5 min 15.35 gmt I didn't really see that as a 2b, but if you mean the hl completed from there 6 candles later 16.05 thats fair enough. Nicely spotted.

Also worth noting clearly from 5 and 15 min charts. The high vol push down to 5505 area that was rejected. Any high vol candles that cannot follow through must give you a warning.

Also the CII divergence was there on 5 min and particularly clear on 15 min.

I had W M2 just below the RN 5496 and the W pivot 5565. You want there to be a reaction from a key level to confirm likely trades.



I often mention other threads to look at:

  1. Medici + Islander trade the Euro open
  2. Acumens Psych levels pivots and trend lines - Eyevoltage posts there now
  3. The vsa threads by Shamus and Malcolmb

I had visitors and missed it completely.

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  • #2,737
  • Aug 26, 2010 10:30am Aug 26, 2010 10:30am
Hello Vantage, thank you for your response.

I am sorry, but I think I am being a bit blonde here. I thought that the 2b reversal was a penetration of a previous high (or low) which the 15:35 bar was, followed by an immediate rejection of the price. Entry should be taken at the low (or high) of the piercing candle.

I have obviously misunderstood if the pattern didn't come into play until 16.05. Do you have time to help?

Thanks
  • #2,738
  • Aug 26, 2010 10:43am Aug 26, 2010 10:43am
Quoting Delite
Hello Vantage, thank you for your response.

I am sorry, but I think I am being a bit blonde here. I thought that the 2b reversal was a penetration of a previous high (or low) which the 15:35 bar was, followed by an immediate rejection of the price. Entry should be taken at the low (or high) of the piercing candle.

I have obviously misunderstood if the pattern didn't come into play until 16.05. Do you have time to help?

Thanks
I see 2b as a classic 1 2 3 M or W pattern. The 2b M should have a slightly higher right shoulder and the 2b W slightly lower right shoulder.

I've attached the 5 min with a 2b high.

The low I thought was a treble bottom and not a 2b low.

But thats splitting hairs as 2bs, dble btm/tops and hl/lh's are all rejection patterns and thats what we are interested in.

Add in a key level and some vsa help, perhaps some divergence and you have a decent set up.
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  • #2,739
  • Aug 26, 2010 10:45am Aug 26, 2010 10:45am
Quoting Vantage
I see 2b as a classic 1 2 3 M or W pattern. The 2b M should have a slightly higher right shoulder and the 2b W slightly lower right shoulder.

I've attached the 5 min with a 2b high.

The low I thought was a treble bottom and not a 2b low.

But thats splitting hairs as 2bs, dble btm/tops and hl/lh's are all rejection patterns and thats what we are interested in.

Add in a key level and some vsa help, perhaps some divergence and you have a decent set up.
Oh that 2b sell above had some clear CII divergence also.
  • #2,740
  • Aug 26, 2010 10:51am Aug 26, 2010 10:51am
Todays 15 min chart.

For me clear 2b reversal at the top, clear CII divergence (thanks again for indi medici).

The arrow up appears to be a 2b potential buy, the set up candle high is not taken out so its not. It then runs along sideways until vsa high vol push down fails, see x, that sets up a 5 min/7RB hl buy later. The buy also has clear CII divergence.

Shout if spotting divergence is not clear.
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