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Higher low, lower high system

  • #2,761
  • Aug 28, 2010 6:58am Aug 28, 2010 6:58am
Quoting Vantage
The original idea behind this thread, a good trader said to me that the first retracement is the best trade. The first higher low/lower high. These retracements provide good opportunites to enter into a move with a relatively small stop loss. A hl/lh confirms a test and failure to follow through at a certain level.

There are several trades to consider:

1)Higher lows and lower highs at extremes from 5 min (also known as 1 2 3 tops/bottoms) are great trades. I want to see some supporting information from the 15 min chart and for the turn...
It contains copyrighted commercial script (s-Constant Range Bars) and I'm reporting it to admin.
  • #2,762
  • Aug 29, 2010 5:12am Aug 29, 2010 5:12am
Quoting aktur
It contains copyrighted commercial script (s-Constant Range Bars) and I'm reporting it to admin.
I have removed the script from the 1st post and asked admin to remove the original post. Apologies but I have no way of knowing if something contains copyrighted code.

My apologies once again.
  • #2,763
  • Aug 30, 2010 12:34am Aug 30, 2010 12:34am
Can we have some trending market conditions this session please... shorts are the go so far it seems...
  • #2,764
  • Aug 30, 2010 12:58am Aug 30, 2010 12:58am
Quoting Musashi
Can we have some trending market conditions this session please... shorts are the go so far it seems...
UK hols??? We'll see.
  • #2,765
  • Aug 30, 2010 1:28am Aug 30, 2010 1:28am
EJ good spot for a HL setup.
  • #2,766
  • Aug 30, 2010 2:20am Aug 30, 2010 2:20am
Bank holiday in the UK, so maybe not a lot of movement today. But who knows...... Two quick scalps for me so far on the cable 7CRB - the first one was a HL bounce off the BB just after FO with the target naturally enough the xx50 psych level. Out for +10. The second was a 2B reversal short off that same level, along with CII div. confirmation. Out for +10 at the Day's Open level.
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  • #2,767
  • Aug 30, 2010 2:28am Aug 30, 2010 2:28am
Well there's the 7R reversal setup on EJ.
  • #2,768
  • Aug 30, 2010 2:29am Aug 30, 2010 2:29am
Quoting orientos
Bank holiday in the UK, so maybe not a lot of movement today. But who knows...... Two quick scalps for me so far on the cable 7CRB - the first one was a HL bounce off the BB just after FO with the target naturally enough the xx50 psych level. Out for +10. The second was a 2B reversal short off that same level, along with CII div. confirmation. Out for +10 at the Day's Open level.
Nice little scalps.

Mrs V has long since declared Aug quiet, UK hol even quieter she's outta here and watching Dancing with the stars. Yes that explains why I'm still here!!

I might be back in around 3 hrs to see if US does something.

The market will be here tomorrow so I'm outta here.
  • #2,769
  • Aug 30, 2010 2:38am Aug 30, 2010 2:38am
Dancing with the Stars - ugh. But my better half loves it also. Think I'll retire for today and enjoy a cold beer. Cheers.
  • #2,770
  • Aug 30, 2010 8:00am Aug 30, 2010 8:00am
Quoting Vantage
I have removed the script from the 1st post and asked admin to remove the original post. Apologies but I have no way of knowing if something contains copyrighted code.

My apologies once again.
Thank you very much! You are a great person and I appreciate your attitude.

Regards,
Michal
  • #2,771
  • Aug 31, 2010 4:23am Aug 31, 2010 4:23am
Everyone on holidays or something?
  • #2,772
  • Aug 31, 2010 4:29am Aug 31, 2010 4:29am
Quoting Musashi
Everyone on holidays or something?
Tried an earlier gu sell below 25 level, I think I pressed buy and not sell and got an invalid price instead of requote.

Then did a buy just above 5400 but got out at BE when it never went for ages.

Tried another buy above 25 level but got my times wrong and the UK news came out and didn't get an entry.

So all in all a bit of a dud day.

But Free's All right now on the radio so morning not a complete waste!!
  • #2,773
  • Aug 31, 2010 5:51am Aug 31, 2010 5:51am
Quoting Vantage

But Free's All right now on the radio so morning not a complete waste!!
You've got great taste, my man. Rock on!!!

"Let's move before they raise the parking rate.......OW!!!!"

  • #2,774
  • Aug 31, 2010 6:29am Aug 31, 2010 6:29am
Nice 2b trade that I've just finished. I originally was going to bail at the Weekly S1, but price just kept on going, and I jumped out at the first sign of trouble!
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  • #2,775
  • Aug 31, 2010 6:33am Aug 31, 2010 6:33am
Hi Vantage!
I've been getting up earlier lately some nice LH/Hl trades.

5min descriptions.

No.1 LH after we had CI divergence off a TL and 50% fib of overnight range.

No.2 1st pull back after breakout LH off the 50.

No.3 Frankfurt hadn't done much so far pullback to the 20 EMA and Frankfurt open after TL break (yellow arrow) so should test extreme at least also at a good time 7.30 and the 5min signal bar closed under the M pivot.

No.4 We have had London head fake down to key area WS1,DMS2,then we have a HL off the 400. Again after a TL overshot and failed test of the extreme (HL)

No.5 news spike up to low of the over night range and bear TL again, 50, and 78% retrace of the move down from 6.00am then we get a LH entry.

1 hour descriptons.

No.1 break out below WMS1 and over night range off resistance.

No.2 Bounce off WS1.

No.3 rejection of WSM1 so low of overnight range proved as resistance.

Cheers.
Reflex.

Oh forgot to say No.4 was an example of what V has mentioned loasd of times bounces getting weaker off s1 no one protecting it so gives more confidence in the long.
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  • #2,776
  • Aug 31, 2010 6:35am Aug 31, 2010 6:35am
Quoting eyevoltage
Nice 2b trade that I've just finished. I originally was going to bail at the Weekly S1, but price just kept on going, and I jumped out at the first sign of trouble!
Hi Eyevoltage nice trade!
I'm still trying to get my head around 2Bs no idea why I'm finding them so hard.
  • #2,777
  • Aug 31, 2010 6:40am Aug 31, 2010 6:40am
Quoting reflex
Hi Eyevoltage nice trade!
I'm still trying to get my head around 2Bs no idea why I'm finding them so hard.
Took me a while, mate, but I cracked it in the end. I'm not so hot with 2b's after a downward move, though!
  • #2,778
  • Aug 31, 2010 6:50am Aug 31, 2010 6:50am
Quoting eyevoltage
Took me a while, mate, but I cracked it in the end. I'm not so hot with 2b's after a downward move, though!
Yeah I spose alot of it is where your taking the 2B setup from.
And you know your thread did the creator of it leave it to you? Should I refer to it as your thread?
  • #2,779
  • Aug 31, 2010 7:02am Aug 31, 2010 7:02am
Quoting reflex
And you know your thread did the creator of it leave it to you? Should I refer to it as your thread?
It's never been MY thread, old chap. It is, and always was, acumen's thread and he still pops in on rare occasions to see how things are going. I'm quite happy to keep it going for him, and preaching the gospel of K.I.S.S. !!
  • #2,780
  • Aug 31, 2010 7:20am Aug 31, 2010 7:20am
Quoting eyevoltage
It's never been MY thread, old chap. It is, and always was, acumen's thread and he still pops in on rare occasions to see how things are going. I'm quite happy to keep it going for him, and preaching the gospel of K.I.S.S. !!
Yep I have only been doing forex about 8 months now and I can see that K.I.S.S is best. More relaxing, you know exactly what your looking for ect. and you should be able to get 20-30 most days no problem more than enough to make a living.
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