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Higher low, lower high system

  • #2,961
  • Sep 23, 2010 5:08am Sep 23, 2010 5:08am
I am really really annoyed at not taking this trade!!

there were other less important things TLs ect on the 5min chart that kept me out of this trade and am noy happy about it as its such a obvious trade.

I have been waiting for an entry off the 621 area all morning then we had the HL off the area after 2 IBs in a row and false break out below them. And target as ususal would have been next strong S/R on H1 which to me was at 15687 obviously being carefull and watching PA around other important areas like pivots ect. so missed out on a good few % on that trade.

I have put the bar chart up for the H1 becasue I find it easier to identify S/R using bar charts but enrty on 5min stil with candles. Recently I have been just using S/Rs on the H1 for areas to trade with entrys using LH/HL 2bs and double tops/bottoms on 5min as normal.

Have you done anything today Vantage or anybody?

Cheers.
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  • #2,962
  • Edited 6:36am Sep 23, 2010 5:11am | Edited 6:36am
Like you have said to me before jag1966 I should probs pay less attention to TLs ect on the 5min than I do.
I am going to start doing this soon I keep my self out of alot of good trades watching the tls and channels on the 5min to closely.
  • #2,963
  • Sep 23, 2010 5:27am Sep 23, 2010 5:27am
Quoting reflex
I am really really annoyed at not taking this trade!!

there were other less important things TLs ect on the 5min chart that kept me out of this trade and am noy happy about it as its such a obvious trade.

I have been waiting for an entry off the 621 area all morning then we had the HL off the area after 2 IBs in a row and false break out below them. And target as ususal would have been next strong S/R on H1 which to me was at 15687 obviously being carefull and watching PA around other important areas like pivots ect. so missed out on a good...
We have had 3 days of very poor internet connection. Not platform's fault, have been unable to get other websites. Yesterday we were off for hours.

This was particularly disappointing as I had earlier posted on VSA thread the accumulation that occurred Y 5500-5530 and were looking for a buy from these levels.

Frustrations continue but thats a problem we have to live with here. Bad internet happens from time to time, this has been the worse for months though.
  • #2,964
  • Sep 23, 2010 5:31am Sep 23, 2010 5:31am
Quoting Vantage
We have had 3 days of very poor internet connection. Not platform's fault, have been unable to get other websites. Yesterday we were off for hours.

This was particularly disappointing as I had earlier posted on VSA thread the accumulation that occurred Y 5500-5530 and were looking for a buy from these levels.

Frustrations continue but thats a problem we have to live with here. Bad internet happens from time to time, this has been the worse for months though.

Ok cool hope your internet is working fine again soon.
  • #2,965
  • Sep 23, 2010 6:43am Sep 23, 2010 6:43am
Quoting reflex
Like you have said to me before jag1966 I should probs play less attention to TLs ect on the 5min than I do.
I am going to start doing this soon I keep my self out of alot of good trades watching the tls and channels on the 5min to closely
.
Hi Reflex,

I think you are doing fantastically well trading Cable as profitably as you do mate, to me it is just a beast, I am liking EU much more for it's predictability at the moment.

Regarding trendlines I am using them less and less now the more I study and use pure support and resistance / supply and demand. I have even dropped the use of all MAs for the same reason, IMHO they are not precise enough compared to candlestick highs lows and closes.

Great charts as always mate.
  • #2,966
  • Edited 7:28am Sep 23, 2010 7:00am | Edited 7:28am
Quoting jag1966
Hi Reflex,

I think you are doing fantastically well trading Cable as profitably as you do mate, to me it is just a beast, I am liking EU much more for it's predictability at the moment.

Regarding trendlines I am using them less and less now the more I study and use pure support and resistance / supply and demand. I have even dropped the use of all MAs for the same reason, IMHO they are not precise enough compared to candlestick highs lows and closes.

Great charts as always mate.
Cheers Jag1966

I had done the same thing about two weeks ago took ema off of chart and put it back on at the beggining of this week to see how much it affects my trading and to be honest theres no need it being on mine becasue I never actually use as a confirmer or anything like that. I used to watch ema gap bars but nothing you can't see watching the candles.

I agree about the just using supply/demand I think you don't need anything more on your chart you can wait all day for a strong supply/demand zone to be hit and usually be able to take anything form 20-100+ pips off it using 5min entry. But I do still use pivots as I find supply/demand zones alot stronger if it coincides with one of the main pivots.

Hope your still making great %.

Cheers.

Forgot to say I will definitely be taking your advice and only putting the most obvious trendlines on the 5min that stand out.
  • #2,967
  • Sep 23, 2010 9:24am Sep 23, 2010 9:24am
I am concentrating on EU for the moment with one eye on GU just to see how one affects the other.

Dave your m5 hl lh reversal pattern really does work well on every timeframe at significant SR levels.

I just draw sr at weekly daily and h4 highs and lows then wait for your reversals at those areas. I add in H1 sr as the candles form, support often becomes resistance and vice versa. Beautiful.

At the time of writing I also fancy a bounce off 1.3307 and second test of 1.3358 as so often happens at major sr levels.
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  • #2,968
  • Sep 23, 2010 11:39am Sep 23, 2010 11:39am
Quoting jag1966
I am concentrating on EU for the moment with one eye on GU just to see how one affects the other.

Dave your m5 hl lh reversal pattern really does work well on every timeframe at significant SR levels.

I just draw sr at weekly daily and h4 highs and lows then wait for your reversals at those areas. I add in H1 sr as the candles form, support often becomes resistance and vice versa. Beautiful.

At the time of writing I also fancy a bounce off 1.3307 and second test of 1.3358 as so often happens at major sr levels.
Long m5 reversal off support 1.3307 worked as hoped.
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  • #2,969
  • Sep 23, 2010 12:19pm Sep 23, 2010 12:19pm
Quoting jag1966
Long m5 reversal off support 1.3307 worked as hoped.
Thanks for these examples jags nice and clear.
Trading seems to become clearer and clearer the longer I just keep watching S/Rs I find relaxing to write down the areas I want to trade off in the morning then just sticking to my plan for the day seems to work well for me.
And examples like this from you V and all who post here just give me more confidence in what I am doing

Cheers
  • #2,970
  • Sep 23, 2010 2:53pm Sep 23, 2010 2:53pm
something just went wrong when I edited post will post it again.
  • #2,971
  • Sep 23, 2010 2:54pm Sep 23, 2010 2:54pm
This is another nice example of trading from H1 S/R to next H1 S/R using Vs 5min entry. Out of my trading hours but I will still post as its a good example.

No.1 on 5min would be the LH entry there is a couple of LH SS entrys before this that may have have stoped you out but the one I would enter on is No.1 because this LH SS is off the S/R on H1 at 15729. Also looking at the H1 closes both the H1 bars before this trade failed to close above 15729.

So I would target the next S/R on the H1 at 15687. 15717 is a S/R I would have been watching carefully but price didn't stall at it on the way down. but did pull back up to it after bouncing off 5min double top support (yellow line) for two more possible LH entrys at No.2 and No.3 also daily R1 was at 15719. The reason I wouldn't have closed at the yellow line is because compared to the strenght of the H1 resistance at 15729 the support on the 5min at the yellow isn't enough for me to close out.

after a break down through the 5min support (yellow line) we get another 5min LH entry at No.4 where S has now become R and that takes us to the target at next H1 support at 15687 and this is where I would close my position.

Cheers.

Reflex.
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  • #2,972
  • Sep 23, 2010 9:53pm Sep 23, 2010 9:53pm
Quoting jag1966
Long m5 reversal off support 1.3307 worked as hoped.
I then shorted the Vantage m5 reversal at 1.3358 after the 2nd test and resumption of the m15 downtrend.

Like reflex so rightly says it is just about drawing in significant support and resistance levels on your charts in the morning, making a plan and then trading the plan.

It can change very quickly but we can use Daves reversal pattern on the higher timeframe to tell us when our move is exhausted. In this case a reversal on H1 would tell me when the m15 trend is over.
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  • #2,973
  • Edited Sep 24, 2010 1:28am Sep 23, 2010 9:57pm | Edited Sep 24, 2010 1:28am
hopefully the m15 chart shows how I saw yesterdays price action at supp and res. I woke early today and saw what looked to me like a perfect 2b long with Medicis divergence.
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  • #2,974
  • Sep 23, 2010 10:34pm Sep 23, 2010 10:34pm
Quoting reflex
Thanks for these examples jags nice and clear.
Trading seems to become clearer and clearer the longer I just keep watching S/Rs I find relaxing to write down the areas I want to trade off in the morning then just sticking to my plan for the day seems to work well for me.
And examples like this from you V and all who post here just give me more confidence in what I am doing

Cheers
Plan the trades and trade the plan.

Nice work Reflex. Trading is all about discipline, writing daily notes really helps me stay focussed too.
  • #2,975
  • Sep 23, 2010 11:55pm Sep 23, 2010 11:55pm
Quoting reflex
This is another nice example of trading from H1 S/R to next H1 S/R using Vs 5min entry. Out of my trading hours but I will still post as its a good example.

No.1 on 5min would be the LH entry there is a couple of LH SS entrys before this that may have have stoped you out but the one I would enter on is No.1 because this LH SS is off the S/R on H1 at 15729. Also looking at the H1 closes both the H1 bars before this trade failed to close above 15729.

So I would target the next S/R on the H1 at 15687. 15717 is a S/R I would have been watching carefully...
Nice trading reflex, hats off mate that thing scares me.
  • #2,976
  • Sep 24, 2010 1:23am Sep 24, 2010 1:23am
Jag and Reflex, great posts, great info. The more things change the more they stay the same. Key levels, at an extreme, hl/lh's.
  • #2,977
  • Edited 6:28am Sep 24, 2010 5:22am | Edited 6:28am
Hi all Thanks again for all the examples jag there really helpfull and I agree Vantage and look forward to when your internet is back working properly and can start studying you posts/charts again.

This was my only trade of the day was a break even could have been a winner but wasn't comfortable with it after the close under 15687 on the H1 with a wick then the side ways movement on the 5min made me close.

No.1 was entry of the 15675 psych level also strong S/R over the last two days on the 5min the DP at 15678 and Monthly MR1 at 15675 aswell so lots of confluence on this trade. But after the H1 close under the 15687 S/R I closed out at BE.

Target was between the 15717-729 area.

In hindsight something that maybe should have kept me in that trade was the TL on the H1 holding up well so a test of extreme was likely and the bigger the TF the more important the S/R and TLs are.

No.2 on the H1 was the H1 close above the TL which gave me reason for longs along with other things and No.3 candle was what made me close out at BE.

Cheers
Reflex.
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  • #2,978
  • Sep 24, 2010 6:36am Sep 24, 2010 6:36am
Retraces off the 15717-729 area seem to be getting weaker and weaker and time between touches is getting closer. So we may see that level it get taken out today.
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  • #2,979
  • Sep 24, 2010 6:42am Sep 24, 2010 6:42am
Quoting reflex
Hi all Thanks again for all the examples jag there really helpfull and I agree Vantage and look forward to when your internet is back working properly and can start studying you posts/charts again.

This was my only trade of the day was a break even could have been a winner but wasn't comfortable with it after the close under 15687 on the H1 with a wick then the side ways movement on the 5min made me close.

No.1 was entry of the 15675 psych level also strong S/R over the last two days on the 5min the DP at 15678 and Monthly MR1 at 15675 aswell...

I took a similar trade but for different reasons! Went long at 1.5680 because of nice hl pattern on crb10. Went out at 1.5696 because of imminent round number but pleased with 16 pips.

Also took short on EJ for lh pattern at 112.96 & out at 112.75 for 21 pips.

That's enough for me.

I hope everyone has a good weekend.

Cheers.

Steve
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  • #2,980
  • Sep 24, 2010 7:14am Sep 24, 2010 7:14am
Quoting zhdeef
I took a similar trade but for different reasons! Went long at 1.5680 because of nice hl pattern on crb10. Went out at 1.5696 because of imminent round number but pleased with 16 pips.

Also took short on EJ for lh pattern at 112.96 & out at 112.75 for 21 pips.

That's enough for me.

I hope everyone has a good weekend.

Cheers.

Steve
Cool nice trades!
For me I tend to go for bigger moves so I prefer to take a BE or -15pips and give it a bit more time to go my way becasue those key areas of confluence are normally worth a lot of pips.

Cheers.
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