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Higher low, lower high system

  • #3,101
  • Oct 4, 2010 4:25am Oct 4, 2010 4:25am
Quoting Musashi
It's not as dumb as it sounds.
I think it would be beyond my skill level to get right, good luck to you.

It does look like that trailing stop thingie you have on your chart might help.
  • #3,102
  • Oct 4, 2010 4:29am Oct 4, 2010 4:29am
Quoting Vantage
I think it would be beyond my skill level to get right, good luck to you.

It does look like that trailing stop thingie you have on your chart might help.
Indeed.
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  • #3,103
  • Oct 4, 2010 4:39am Oct 4, 2010 4:39am
chop time

no lower swing high as yet so leave stop in place until one forms

you get the idea
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  • #3,104
  • Oct 4, 2010 4:40am Oct 4, 2010 4:40am
ej lower swing high...

move stop down again
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  • #3,105
  • Oct 4, 2010 4:45am Oct 4, 2010 4:45am
Lower swing ... down again
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  • #3,106
  • Oct 4, 2010 4:55am Oct 4, 2010 4:55am
Problem is the giving back on the open trades when it does indeed finally reverse... but what can you do about that...
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  • #3,107
  • Oct 4, 2010 5:01am Oct 4, 2010 5:01am
m15 ej chart
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  • #3,108
  • Oct 4, 2010 5:01am Oct 4, 2010 5:01am
Quoting Musashi
Problem is the giving back on the open trades when it does indeed finally reverse... but what can you do about that...
Accept that the day you get it all is the day you fluke it that you got it all.

Great trades, take a pat on the back for a job well done.

It ended up doing about 15 pips short of 14 day ATR, perhaps that was time to exit, when it got close to ATR but rejected at 75 level. Again you'll never get it all.
  • #3,109
  • Oct 4, 2010 5:03am Oct 4, 2010 5:03am
m1 chart...

possibly a higher swing high coming...

not that i'm going to go long...
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  • #3,110
  • Oct 4, 2010 5:13am Oct 4, 2010 5:13am
and that's me all out...

+74 Pips EJ
+85.5 Pips EU
+39.4 Pips EU

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  • #3,111
  • Oct 4, 2010 5:16am Oct 4, 2010 5:16am
Quoting Musashi
m1 chart...

possibly a higher swing high coming...

not that i'm going to go long...
Is it too soon to go long brother ?
Up trend is not cleared yet...
A little beginner trader since 2006
  • #3,112
  • Oct 4, 2010 5:17am Oct 4, 2010 5:17am
Quoting Musashi
and that's me all out...

+74 Pips EJ
+85.5 Pips EU
+39.4 Pips EU

Congradulations.
Happy trade man.
A little beginner trader since 2006
  • #3,113
  • Oct 4, 2010 5:19am Oct 4, 2010 5:19am
Quoting Musashi
and that's me all out...

+74 Pips EJ
+85.5 Pips EU
+39.4 Pips EU

Very cool, nice one.
  • #3,114
  • Oct 4, 2010 5:21am Oct 4, 2010 5:21am
Quoting Naseri13
Is it too soon to go long brother ?
Up trend is not cleared yet...
You have to respect what time of day it is my friend.

Knowing when the market is likely to trend and when it's likely to range is half the battle.

Trading counter the intraday trend is always highly risky.

However it can be profitable as jumping on the rally or sell off can be quite profitable as it typically occurs very fast.
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  • #3,115
  • Oct 4, 2010 5:21am Oct 4, 2010 5:21am
Quoting Naseri13
Is it too soon to go long brother ?
Up trend is not cleared yet...
Its done good range, hit Thur's highs and struggled/turned, 1 hr doji, 15 min engulfing pos close. Looks good for some kind of counter trend move.

If you do go in I'd be moving stops to BE asap.
  • #3,116
  • Oct 4, 2010 5:23am Oct 4, 2010 5:23am
Quoting Musashi
You have to respect what time of day it is my friend.
Also true.
  • #3,117
  • Oct 5, 2010 12:24am Oct 5, 2010 12:24am
Quoting Vantage

Trading key levels, good 15 min candles next 1 min move, 2nd 1 min hl/lh were set ups we liked.
I know I've asked something along these lines before, but would you mind clarifying a bit on when you use the next M1 HL/LH as opposed to the second M1 HL/LH? I think some explanation used to be in the first post but I guess it was removed at some point after you set it aside. Thanks.
  • #3,118
  • Oct 5, 2010 3:11am Oct 5, 2010 3:11am
Quoting Auron112
I know I've asked something along these lines before, but would you mind clarifying a bit on when you use the next M1 HL/LH as opposed to the second M1 HL/LH? I think some explanation used to be in the first post but I guess it was removed at some point after you set it aside. Thanks.

2nd 1 min hl/lh, at an extreme can give good entries. In particular in and around LO. With lh/hl on 5 min +2b set ups wasn't sure if needed.

Next 1 min hl/lh we used after a decent 15 min candle has closed. So we weren't using 1 min for direction the 15 min set up the move.

This morning a great example of both, as often the case the 2nd 1 min lh was also the next 1 min lh after close of 15 min doji. See attached chart, the red line is the close of the 15 min doji at the days open/25/fib combo at the FH half hour reversal. The arrow down is both the 2nd 1 min lh + the next 1 min lh after close of 15 min candle.

We missed terrible internet and fxpro also had some tech issues this am (now resolved they say). So we missed the above gimme trade.

We were then looking at the move below 5800, thats where we have about 7 missed minutes (fxpro's side). Mrs V wanted that, I was quite happy to wait for the head fake move up. Lost platform and that decision got taken away from us. You'll also see a gap of a few mins on the bounce from 75 level up, but by then we had no trust what the candles were saying and the connection so left/missed the move up.

So no trades for us and Mrs V already gone to bed trying to avoid getting really sick.

Oh fxpro advised that they have not had tech issues in last 2 weeks so the problems appear to have been my isp connection issues.
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  • #3,119
  • Oct 5, 2010 3:19am Oct 5, 2010 3:19am
GM all,

I missed the initial bounce off yesterdays low 1.3665 , shown on the m15 chart below (still half asleep), h1 and m15 both showed divergence.

However I got a cheeky short using the m5 LH off h4 res at 1.3722 ish down to 1.3785, then went long back with the m15, h1 2b.
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  • #3,120
  • Oct 5, 2010 3:28am Oct 5, 2010 3:28am
Quoting jag1966
GM all,

I missed the initial bounce off yesterdays low 1.3665 , shown on the m15 chart below (still half asleep), h1 and m15 both showed divergence.

However I got a cheeky short using the m5 LH off h4 res at 1.3722 ish down to 1.3785, then went long back with the m15, h1 2b.
Thats some very nifty foot work there, nice.
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