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Higher low, lower high system

  • #2,941
  • Sep 20, 2010 2:37am Sep 20, 2010 2:37am
Hi Vantage and all this was a nice trade it failed to breakout above 15678 a 2b setup I think. Then we had an hourly close under 15680 which is S/R on my H1.
Price moved down way to fast for me to get in so didn't get any on this.

cheers.
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  • #2,942
  • Sep 20, 2010 2:49am Sep 20, 2010 2:49am
Quoting reflex
Hi Vantage and all this was a nice trade it failed to breakout above 15678 a 2b setup I think. Then we had an hourly close under 15680 which is S/R on my H1.
Price moved down way to fast for me to get in so didn't get any on this.

cheers.
Missed the move at the top. 15 min lower close on the 50 level, next lh on 7RB out +17.

Just had a re-entry sell after 5 min shooting star, no follow through out -2.
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  • #2,943
  • Sep 20, 2010 3:02am Sep 20, 2010 3:02am
Quoting Vantage
Missed the move at the top. 15 min lower close on the 50 level, next lh on 7RB out +17.

Just had a re-entry sell after 5 min shooting star, no follow through out -2.
Nice! I missed the 5min shooting star sell as I would have been happy with the points from the 1st if I could have got in and my target for the 1st at 638 had been hit already so would have been mad at myself if it was a loser.

I should really look at range bars soon they seem good for getting you in when price is moving becasue the bars are never to big to do is that right?

Forgot to say the trade at the top was also off daily midR1 and weekly midR1.
FF is really slow today for me.
  • #2,944
  • Sep 20, 2010 4:22am Sep 20, 2010 4:22am
Looks like ff is working again.
  • #2,945
  • Sep 20, 2010 4:31am Sep 20, 2010 4:31am
Quoting reflex
I should really look at range bars soon they seem good for getting you in when price is moving becasue the bars are never to big to do is that right?
Thats the idea get in before a move is too big.

Be careful of 1 candle hl/lh's though as the lh can often be early on 7RB.

Mrs V loves the 7RB I'm OK with it but also think once you have a set up on higher candles a 1 min entry will work just fine.
  • #2,946
  • Edited 5:06am Sep 20, 2010 4:55am | Edited 5:06am
Quoting Vantage
Thats the idea get in before a move is too big.

Be careful of 1 candle hl/lh's though as the lh can often be early on 7RB.

Mrs V loves the 7RB I'm OK with it but also think once you have a set up on higher candles a 1 min entry will work just fine.
Yeah I see what you mean about the entry 1min working just fine with bigger tfs already there.
Think I will have a look at them this weekend if I can find them somewhere.

If price didn't move to fast at LO and it was possible to get an entry looking at the daily and the hour you could have maybe sat in that one for the whole of LO move only problem for me is I really hate sitting in trades through the news so thats another reason for wanting to look at range bars when I close before news I might be able to get back in the orignal direction soon after news using range bars.

Are you still going to be swinging some of you position for the LO move?

the daily close on friday being bearish and the H1 unable to close above 15680 and the weekly mid R1 its definetly worth siting in for the 100pip run.
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  • #2,947
  • Sep 20, 2010 5:35am Sep 20, 2010 5:35am
Quoting reflex
Yeah I see what you mean about the entry 1min working just fine with bigger tfs already there.
Think I will have a look at them this weekend if I can find them somewhere.

If price didn't move to fast at LO and it was possible to get an entry looking at the daily and the hour you could have maybe sat in that one for the whole of LO move only problem for me is I really hate sitting in trades through the news so thats another reason for wanting to look at range bars when I close before news I might be able to get back in the orignal direction soon...
Having had such a go nowhere slowly month Mrs V wanted 17 in, didn't fight as we missed first move at the top. It then went nowhere for a while and then 5 mins before news there was a nice shooting star which caused the move down.

We still want to be letting some run in case we miss re-entry.
  • #2,948
  • Sep 20, 2010 5:38am Sep 20, 2010 5:38am
Quoting Vantage
once you have a set up on higher candles a 1 min entry will work just fine.
IMHO WTG for high probability and high R:R trades...
  • #2,949
  • Sep 20, 2010 5:42am Sep 20, 2010 5:42am
Quoting Vantage
Having had such a go nowhere slowly month Mrs V wanted 17 in, didn't fight as we missed first move at the top. It then went nowhere for a while and then 5 mins before news there was a nice shooting star which caused the move down.

We still want to be letting some run in case we miss re-entry.
Cheers for that. hopefully theres a nice move later on so I can get 20-30pips for the day.
  • #2,950
  • Sep 21, 2010 2:45am Sep 21, 2010 2:45am
1hr dragonfly doji which could not break high of prev positive close candle. 15 min LO dragonfly doji also.

Sold the shooting star lh, little lower wick. Target 50 psych level out a little early.
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  • #2,951
  • Edited 8:29am Sep 21, 2010 2:49am | Edited 8:29am
See http://www.candlesticker.com/Bearish.asp for bearish reversal patterns. Had expectations of a fall as Y was a neg day. Also the doji's had failed to close above prev candle highs was another warning. Add the dragonfly doji + Y's neg close + failure to move higher after high vol pos close candles = sell chance on the 5 min lh.
  • #2,952
  • Sep 21, 2010 10:34am Sep 21, 2010 10:34am
Hello Vantage

I came across your thread because I am interested in studying and trading
123 patterns, or I believe they are also called W or M patterns.

I know there is a ton of good stuff in your thread.....it is rather daunting to read from the beginning though.

Well a journey of a thousand miles begins with the first step, so.....I will begin reading.

PGPB
  • #2,953
  • Edited Sep 22, 2010 12:46am Sep 21, 2010 3:10pm | Edited Sep 22, 2010 12:46am
Quoting jag1966
Hi V,

as mentioned before I am learning so much about candlestick analysis as a result of finding your thread.

H1 reversals work in much the same way as your m5s. Look at how the daily reversal was almost a carbon copy of the h1.

Have a look at EU daily and weekly charts, the daily looks like a huge 2b, the weekly ended last week with three weeks of rising hl and hh with us at support start of this week.

Amazing stuff mate.
EU hitting 1.33

H1 , H4 and daily 2bs , HL LHs work just like m5s it seems, old res at 1.33 ish hit as hoped. Fractals at work.

Nice work V.
  • #2,954
  • Sep 22, 2010 12:55am Sep 22, 2010 12:55am
Quoting pgpb
Hello Vantage

I came across your thread because I am interested in studying and trading
123 patterns, or I believe they are also called W or M patterns.

I know there is a ton of good stuff in your thread.....it is rather daunting to read from the beginning though.

Well a journey of a thousand miles begins with the first step, so.....I will begin reading.

PGPB
Welcome here.

Best of luck, any Q's just shout, theres lots of guys around more than willing to help.
  • #2,955
  • Sep 22, 2010 1:27am Sep 22, 2010 1:27am
Hope all has been well.

  • #2,956
  • Sep 22, 2010 2:15am Sep 22, 2010 2:15am
Quoting Musashi
Hope all has been well.

Cheers M.

Kept waiting for the LO head fake to happen, it didn't. Being careful on MPC minutes morning.

5727 the high from a few days back may be the target, twt.
  • #2,957
  • Sep 22, 2010 2:20am Sep 22, 2010 2:20am
15R EJ showing some Lower High action.

Reversals in this region I would suggest.
  • #2,958
  • Sep 22, 2010 2:30am Sep 22, 2010 2:30am
When getting on a winner make sure you ride it as long as you can
  • #2,959
  • Sep 22, 2010 2:41am Sep 22, 2010 2:41am
Hi V and all.

A +20 on this one hit off 700 (RN) the came down to around the 85 with a HL to long to 15 through the RN.

Cheers.
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  • #2,960
  • Sep 22, 2010 8:24am Sep 22, 2010 8:24am
Hi all.
Another couple of nice trades 2nd one was getting to close to NY open for me and I don't like trading close to Ny open. but still a HL off H1 support at 621 with bullish hour close and 15min close.

The 1st one was a nicer setup to me no 15min but H1 with it off the 675 level also daily R1 and previous support we had a channel overshot aswell so a test of the old extreme was very likley. Entry a 5min SS LH.
Target the next big S/R on the H1 at 15621.

Cheers.
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