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Higher low, lower high system

  • #2,861
  • Sep 8, 2010 9:01pm Sep 8, 2010 9:01pm
EJ typically moves around 75 pips in asian session high to low sometimes it can move the average daily range in the asian session
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  • #2,862
  • Sep 8, 2010 9:14pm Sep 8, 2010 9:14pm
Taking a closer look at the 7R chart easy to see the resistance evident by the candle stick patterns

Round number here might add some support.

Time exit +22 pips
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  • #2,863
  • Sep 8, 2010 9:16pm Sep 8, 2010 9:16pm
No certainty in this market as long as avg win > avg loss that's all that matters.
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  • #2,864
  • Sep 9, 2010 2:30am Sep 9, 2010 2:30am
Like a few people I have been debating whether or not to trade FH ( I am inclined not to). However today I took the LH indicated and went short about 30 mins after FO when the S/R level broke. Rode it down to precisely the RN00 for +26. (there was a slightly earlier entry on the 7RB chart)
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  • #2,865
  • Sep 9, 2010 2:46am Sep 9, 2010 2:46am
Quoting orientos
Like a few people I have been debating whether or not to trade FH ( I am inclined not to). However today I took the LH indicated and went short about 30 mins after FO when the S/R level broke. Rode it down to precisely the RN00 for +26. (there was a slightly earlier entry on the 7RB chart)
Nice trade I slept in late.

Below RN I have W M2 at 5388 where there is 62% fib of Tues/Wed high/low.
  • #2,866
  • Sep 9, 2010 3:05am Sep 9, 2010 3:05am
The retracement went back to 38.2 of the high just before FO which was at confluence with Islanders 30 ema. Now why didn't I take that...........
  • #2,867
  • Edited 4:03am Sep 9, 2010 3:27am | Edited 4:03am
Quoting orientos
The retracement went back to 38.2 of the high just before FO which was at confluence with Islanders 30 ema. Now why didn't I take that...........
Out +7 when M2 5407 held a couple of times.

In down trend 1 min lh when break above 25 level failed.
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  • #2,868
  • Sep 9, 2010 3:29am Sep 9, 2010 3:29am
The small bounce suggests 5400 will fail. As mentioned 62% fib at the W M2 pivot 5388.

I was unsure if Y's move up (stalled at Apr high) was just a blip in the downtrend or start of move up.

We'll see what happens at 5388.

I hate UK int rate days though.
  • #2,869
  • Sep 9, 2010 4:01am Sep 9, 2010 4:01am
We had an internet connection issue and missed this one. Reasoning for entry would be the same as 1st trade above.

1 min lh reject of 25 level, CII divergence. Also as mentioned above one of our old trading ideas, the small bounce from a key level normally means it'll fail.

With UK int rates in 2 hours we might well be done for now.
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  • #2,870
  • Sep 10, 2010 6:21am Sep 10, 2010 6:21am
Hi V.

These were the only two trades I saw today after LO the No.1 I thought needed a bit more of a pull back then that so didn't do it what do you think of that setup? It had a very bullish close on the H1 back above the 15392 (the last LL on the H1) but like I said I though it would atleast come back to the EMA.

I did No.2 looked a bit messy up there so was carefull and quick to exit a BE.

There been anything for you today? There was a Nice one dead on FO but I have decided to stick to not trading FO and have full focus on catching the LO move and some of the retrace after LO move.

Cheers
Luke.
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  • #2,871
  • Sep 10, 2010 7:41am Sep 10, 2010 7:41am
Just missed a nice 2B/double top trade off this mornings high!
  • #2,872
  • Sep 10, 2010 7:53am Sep 10, 2010 7:53am
Quoting reflex
Hi V.

These were the only two trades I saw today after LO the No.1 I thought needed a bit more of a pull back then that so didn't do it what do you think of that setup? It had a very bullish close on the H1 back above the 15392 (the last LL on the H1) but like I said I though it would atleast come back to the EMA.

I did No.2 looked a bit messy up there so was carefull and quick to exit a BE.

There been anything for you today? There was a Nice one dead on FO but I have decided to stick to not trading FO and have full focus on catching the LO...
Today was very frustrating. We missed the arrow down lower high by about 3 mins. Yes it was FO but 100% system trade (see trade 2 1st post) ie 1hr down, 15 min shooting star, 5 min lh entry candle little/no lower wick.

Looking at daily chart we continue to see positive divergence on CII with a hammer so we did expect price to move up. We had a high vol hammer on 15 min (not shown) and also a high vol hammer to the left of arrow up on 5 min with CII divergence. I discussed with Mrs V a buy above 75 level if candles were right. This would be a classic LO head fake move down and the move up would then be in line with the daily chart (CII divergence and hammer).

I went out, Mrs V saw the 5 min shooting star + doji but was scared to buy thinking candles weren't right. She didn't get a nice 5 min entry as the up candle was too large for her +- 20 pips. NB the entry was perfect on 1 min (also not shown) which also had CII divergence.

Of course the high vol hammers on 5 and 15 min had set the tone, the lack of a break lower and vol falling away confirmed sellers losing interest.

If it wasn't for bad luck we'd have had no luck at all this month which has been one of our worst starts in ages. Of course you just need one day like today to come off. What we discussed worked out perfectly.
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  • #2,873
  • Edited 8:14am Sep 10, 2010 8:12am | Edited 8:14am
Quoting Vantage
Today was very frustrating. We missed the arrow down lower high by about 3 mins. Yes it was FO but 100% system trade (see trade 2 1st post) ie 1hr down, 15 min shooting star, 5 min lh entry candle little/no lower wick.

Looking at daily chart we continue to see positive divergence on CII with a hammer so we did expect price to move up. We had a high vol hammer on 15 min (not shown) and also a high vol hammer to the left of arrow up on 5 min with CII divergence. I discussed with Mrs V a buy above 75 level if candles were right. This would be...
Cheers Vantage I'm annoyed aswell at missing the sell at 12.05 which was probably a higher probability trade than the 1st one I did becasue the 1st one was soon after news and after a 100pip move so a rest was likely especialy after an exhastion bar like we had on the H1 but worth ago as enough room to get BE.

But the 2nd was pefect after a TL break so test of extreme was likely and a failed breakout of the wedge ending in a 2b/double top. could have targeted DP on the 2nd trade and watched PA which gave you no sign what so ever to get out at DP.

I think for me this week its been getting used to the big moves again but next week will be great I hope lol

Oh yeah and what do you think of the HL at the green arrow in the chart below one you would have took? or needed more of a pullback I was tempted but left it like I said in my earlier post.

Cheers
Luke.
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  • #2,874
  • Sep 10, 2010 8:14am Sep 10, 2010 8:14am
Quoting Vantage
If it wasn't for bad luck we'd have had no luck at all this month which has been one of our worst starts in ages. Of course you just need one day like today to come off. What we discussed worked out perfectly.
I'd better get cracking next week, apart from getting my ROI up the rebates kick back is gonna be rubbish this month!!
  • #2,875
  • Sep 10, 2010 8:18am Sep 10, 2010 8:18am
Quoting reflex
Cheers Vantage I'm annoyed aswell at missing the sell at 12.05 which was probably a higher probability trade than the 1st one I did becasue the 1st one was soon after news and after a 100pip move so a rest was likely especialy after an exhastion bar like we had on the H1 but worth ago as enough room to get BE.

But the 2nd was pefect after a TL break so test of extreme was likely and a failed breakout of the wedge ending in a 2b/double top. could have targeted DP on the 2nd trade and watched PA which gave you no sign what so ever to get out at...
I liked it. I'm hoping that IF we were in the 1st trade and taken some profits would have re-entered there. Once LO head fake has shown itself you have to have a bigger pic target 100-125 pip range.
  • #2,876
  • Sep 10, 2010 8:19am Sep 10, 2010 8:19am
Quoting reflex
Cheers Vantage I'm annoyed aswell at missing the sell at 12.05 which was probably a higher probability trade than the 1st one I did becasue the 1st one was soon after news and after a 100pip move so a rest was likely especialy after an exhastion bar like we had on the H1 but worth ago as enough room to get BE.

But the 2nd was pefect after a TL break so test of extreme was likely and a failed breakout of the wedge ending in a 2b/double top. could have targeted DP on the 2nd trade and watched PA which gave you no sign what so ever to get out at...
Forgot to mention of course the decent move down occurs to the right of your number 2 arrow down, another perfect lh system trade after the 1hr neg close.
  • #2,877
  • Sep 10, 2010 8:20am Sep 10, 2010 8:20am
Quoting reflex
Cheers Vantage I'm annoyed aswell at missing the sell at 12.05 which was probably a higher probability trade than the 1st one I did becasue the 1st one was soon after news and after a 100pip move so a rest was likely especialy after an exhastion bar like we had on the H1 but worth ago as enough room to get BE.

But the 2nd was pefect after a TL break so test of extreme was likely and a failed breakout of the wedge ending in a 2b/double top. could have targeted DP on the 2nd trade and watched PA which gave you no sign what so ever to get out at...
Also by the time the 12.05 bar hit short on the 5min you would have had a nice SS on the 15min confirming the sell at the extreme.
  • #2,878
  • Sep 10, 2010 8:24am Sep 10, 2010 8:24am
Quoting Vantage
Forgot to mention of course the decent move down occurs to the right of your number 2 arrow down, another perfect lh system trade after the 1hr neg close.
Yep was alot of pips there today!
If you have the time can you explain to me what you see in the candles on the 5min where you were going to enter this morning they have upper wicks with bear closes. But was it more the volume,area and time you were paying more attetion to?
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  • #2,879
  • Sep 10, 2010 8:27am Sep 10, 2010 8:27am
Quoting reflex
Also by the time the 12.05 bar hit short on the 5min you would have had a nice SS on the 15min confirming the sell at the extreme.
And thats what we're after in a nutshell with this method. A crack at a trade at the extreme. Then if 1 hr candle turns another crack soon after.

At the moment I've traded so little this month I feel like one of the dummies that you can't give more than a few days leave to otherwise they forget how to do their job!!
  • #2,880
  • Sep 10, 2010 8:33am Sep 10, 2010 8:33am
Quoting reflex
Yep was alot of pips there today!
If you have the time can you explain to me what you see in the candles on the 5min where you were going to enter this morning they have upper wicks with bear closes. But was it more the volume,area and time you were paying more attetion to?
It was the time, LO head fake and the high vol hammers on both the 5 min and 15 min. We were expecting a turn. I then went out and Mrs V had the OK to buy as mentioned above on right candles. The lack of a move down on increasing vol was very, very fishy. I was out and couldn't help Mrs V as the entry was actually on 1 min chart.

She felt 5 min candles weren't right which is fair enough. She is a relative newbie (more so than I, yes still regard myself as just better side of newbie, when you have 4-5 solid trading years then can move goal posts) in particular on vol and divergence and the 5 min candles threw her.

In summary time, good vol hammers, no follow through down on increased vol.
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