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Higher low, lower high system

  • #2,841
  • Sep 7, 2010 10:24am Sep 7, 2010 10:24am
Quoting eyevoltage
Looking at this possible 2b trade. If price pushes up through the xx25 line, I'll be in.
Yes, I know. An indicator! Pretty good divergence indicated!


Edit: Not looking very promising though.

Edit: Gave it up as a bad job. Price never broke through the highs of the small candles underneath the "2b" on the chart.
Hi EV
I'm pretty focused on looking for 2b trades in and around LO ie 8am gmt as the likelihood of a reversal around that time is very high.

The 2b entry on your chart was around 5320, that gave enough scope when in hindsight it failed at W S1. A nice lh followed to resume the trend.

Mrs V got the sniffles, had some other issues to work out today and hopefully from tomorrow we'll be able to do more than grab a trade at LO!!

Cheers.
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  • #2,842
  • Edited 2:34am Sep 8, 2010 2:13am | Edited 2:34am
I had posted elsewhere the CII buy divergence on D chart.

15 min increasing vol and I focused on the upper wicks and not the fact that the higher vol wasn't pushing prices down. Effort (higher vol upper wicks) but no result.

I saw it but wasn't quick/good enough to realise what it was, lesson learned.
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  • #2,843
  • Sep 8, 2010 2:46am Sep 8, 2010 2:46am
Quoting Vantage
I had posted elsewhere the CII buy divergence on D chart.

15 min increasing vol and I focused on the upper wicks and not the fact that the higher vol wasn't pushing prices down. Effort (higher vol upper wicks) but no result.

I saw it but wasn't quick/good enough to realise what it was, lesson learned.
Hi Vantage I noticed the same thing. I tried a quick short 5mins after FO lost 15pips I completely forgot to look if there was news today and there was at LO so if I had known this I would have left trading FO.
Hopefully get some nice moves after the 9.30 news.

cheers
  • #2,844
  • Sep 8, 2010 2:56am Sep 8, 2010 2:56am
Slim pickings for me today. I took a LH as indicated, but waited until the psych level was broken and exited at +14 on the spike down to yH and R1.
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  • #2,845
  • Sep 8, 2010 2:59am Sep 8, 2010 2:59am
Quoting reflex
Hi Vantage I noticed the same thing. I tried a quick short 5mins after FO lost 15pips I completely forgot to look if there was news today and there was at LO so if I had known this I would have left trading FO.
Hopefully get some nice moves after the 9.30 news.

cheers
Trading in 1st 15 mins of FO is a no no for us unless 110% convinced, there are so many fakes that occur. If I recall something like 65-70% chance of a fake. I haven't updated these stats for a while so they may not be the same now. Thats why we generally leave.

I can see why you'd be interested though with all those shooting stars on various time frames and vol increasing on 5 min chart SS.
  • #2,846
  • Sep 8, 2010 3:00am Sep 8, 2010 3:00am
Hi Vantage.

Just popping in to see how fellow SA traders are doing.

Great thread.

Keep up the good work and may the pips keep following you.

  • #2,847
  • Sep 8, 2010 3:04am Sep 8, 2010 3:04am
Quoting orientos
Slim pickings for me today. I took a LH as indicated, but waited until the psych level was broken and exited at +14 on the spike down to yH and R1.
Nice scalp. I waited as the vol was falling off, with the higher vol 8.35 am gmt doji just above the 5450 I though we'd get a push up and a chance at a lower high nearer the top. Couldn't believe the boys behind the 100 pip vol would give up that easy.
  • #2,848
  • Sep 8, 2010 3:05am Sep 8, 2010 3:05am
Quoting Vantage
Trading in 1st 15 mins of FO is a no no for us unless 110% convinced, there are so many fakes that occur. If I recall something like 65-70% chance of a fake. I haven't updated these stats for a while so they may not be the same now. Thats why we generally leave.

I can see why you'd be interested though with all those shooting stars on various time frames and vol increasing on 5 min chart SS.
I think I will go back to the way I was trading before august which was no trades before LO unless like you say 110% sure. That way I am ready and have full concentration on catching GUs range after 8.30. This was working really well but then the volumes droped off and went back to trying to make pips early. But now it loks like we are getting Gus range back I'm going back to trading after LO.
  • #2,849
  • Sep 8, 2010 3:06am Sep 8, 2010 3:06am
Quoting matlobien
Hi Vantage.

Just popping in to see how fellow SA traders are doing.

Great thread.

Keep up the good work and may the pips keep following you.


Hi there boet!! Welcome here, pop back anytime.

Cheers.
  • #2,850
  • Sep 8, 2010 3:09am Sep 8, 2010 3:09am
Quoting Vantage
Hi there boet!! Welcome here, pop back anytime.

Cheers.
Jip, boet sounds more familiar than mate.

  • #2,851
  • Sep 8, 2010 3:14am Sep 8, 2010 3:14am
Quoting reflex
But now it loks like we are getting Gus range back I'm going back to trading after LO.
Mrs V has raised the same idea, trading after LO with the emphasis on taking the almost inevitable post LO head fake move. The Islander/Medici 1 min trading is prob beyond my skills to get right on a consistent basis.

Its spring here and come 20 Sept when my jogging mate is back from leave we haul our asses out to do a little run in the am. I have been fighting anorexia and winning so have to do something quick!! That may force me to miss FO, TWT.
  • #2,852
  • Edited 9:41am Sep 8, 2010 3:26am | Edited 9:41am
Quoting Vantage
Mrs V has raised the same idea, trading after LO with the emphasis on taking the almost inevitable post LO head fake move. The Islander/Medici 1 min trading is prob beyond my skills to get right on a consistent basis.

Its spring here and come 20 Sept when my jogging mate is back from leave we haul our asses out to do a little run in the am. I have been fighting anorexia and winning so have to do something quick!! That may force me to miss FO, TWT.
Haha fighting anorexia!
Yep sounds like a good idea for the way I/we trade I don't think it is worth doing FO either and I can get back to walking the dog before LO.
  • #2,853
  • Sep 8, 2010 9:51am Sep 8, 2010 9:51am
Hey Vantage,

I found and applied the range bar indi. And man I have to say there are some very compelling setups that marry very nicely with my method.

When I get a chance I will post up some charts just been really busy latley with some things. Picked up +16 last night on a EJ short during Asian session and another + 15 on a short EU during NY open.

Quick question. I have the RB indicator set to show wicks which is all well and good but when a range bar meets or esceeds the range it is set for shouldn't a new brick be printed?

I am showing wicks that are 1 or 2 pips beyond the range bar setting. Just wondering if someone else has noticied this or has any insight.

Cheers,

Trader V
Nothing is impossible, with a willing mind!
  • #2,854
  • Sep 8, 2010 9:55am Sep 8, 2010 9:55am
Quoting Trader_V
Hey Vantage,

I found and applied the range bar indi. And man I have to say there are some very compelling setups that marry very nicely with my method.

When I get a chance I will post up some charts just been really busy latley with some things. Picked up +16 last night on a EJ short during Asian session and another + 15 on a short EU during NY open.

Quick question. I have the RB indicator set to show wicks which is all well and good but when a range bar meets or esceeds the range it is set for shouldn't a new brick be printed?

I am showing...
It can have a wick but the RB should in total be the number of pips you have loaded it with, wick included, well thats my understanding.
  • #2,855
  • Sep 8, 2010 9:59am Sep 8, 2010 9:59am
Quoting Vantage
It can have a wick but the RB should in total be the number of pips you have loaded it with, wick included, well thats my understanding.

That was my understanding as well. Weird anomally. I will post up an example of this when I get back to my screens.

The wicks help show the whole story which is why I like seeing them but man some of these little things are just weird LOL
Nothing is impossible, with a willing mind!
  • #2,856
  • Sep 8, 2010 7:20pm Sep 8, 2010 7:20pm
OK Here is an example chart of what I was talking about. You can see that some of the wicks are clearly longer than the body.

I would love to know how or why this is.
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Nothing is impossible, with a willing mind!
  • #2,857
  • Sep 8, 2010 7:54pm Sep 8, 2010 7:54pm
Quoting Trader_V
OK Here is an example chart of what I was talking about. You can see that some of the wicks are clearly longer than the body.

I would love to know how or why this is.
I don't think that indicator is giving you actual range bars but renko bars instead. If they were range bars than all bars would be X big. So if you had 4 pip range bars, all bars would be 4 pips big high to low.

However with renko bars you need price to move X amount of pips past the prior bars high. For example if you had 4 bar size renko charts and price moved only 3 pips higher than the previous bar, you would have a wick and a new renko bar wouldn't form until prive moved 4 pips above or below the last bars high or low.

If that's not right than I have no idea what's going on, hope this helps and that I'm not completely wrong.

trublu
  • #2,858
  • Sep 8, 2010 7:58pm Sep 8, 2010 7:58pm
Quoting Trader_V
OK Here is an example chart of what I was talking about. You can see that some of the wicks are clearly longer than the body.

I would love to know how or why this is.
Is that a renko chart because that is what it looks like.

Renko and Bar Charts are very different. Turn the wicks off on your indicator and see if the bars are all diagonal to each other. If they are then I would imagine you are using a Renko Chart.
  • #2,859
  • Sep 8, 2010 8:47pm Sep 8, 2010 8:47pm
Bit risky trading in asian session as market typically does go sideways...

Some lower highs are evident with equal lows... descending triangle...

Worth a punt.
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  • #2,860
  • Sep 8, 2010 8:48pm Sep 8, 2010 8:48pm
Well that explains a world of things! Thanks for the explanation guys really appreciate that. So the search goes on for actual range bars for MT4

Cheers!
Nothing is impossible, with a willing mind!
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