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Higher low, lower high system

  • #3,141
  • Oct 6, 2010 4:22am Oct 6, 2010 4:22am
Quoting Vantage
Hi there and welcome.

When did we think buy, we missed the sell at the top which reflex posted. We were concerned at selling in and around the RN with DO just below. The lower high at the RN came after the LO level had held once already. We did discuss the sell but rejected it as the move down to DO/85 area could easily be a 15/85 range trade, the LO price at 89 also likely to be defended in an overall uptrend. We were worried we would miss a buy trying to exit a sell and not having the buy trade loaded.

If price is above DO in an overall uptrend...
Sounds pretty good. I'll keep on reading you guys.

Quoting Vantage
If were in and got to +12 or so we would definitely have had stop at BE with the LO/85 level having held once already.
Yes, stopped out at BE here.
  • #3,142
  • Oct 6, 2010 4:24am Oct 6, 2010 4:24am
Quoting elizo
Long time ago...
good to see you
  • #3,143
  • Oct 6, 2010 5:04am Oct 6, 2010 5:04am
Quoting elizo
Hi, my first post here, so sorry if I am missing something. Great thread, congratulations.

I took the short as well around 5897, the one that did not work. I can see now your 2B buy. Would you mind to explain when do you exactly decide to turn around? Also the point for entry would be above the high of the 1st poke candle, correct? Would not that one be above 5897? I saw you entered earlier (which is great, by the way).

Thanks
We took entry from 1 min chart after close of 15 min candle.
  • #3,144
  • Oct 6, 2010 5:10am Oct 6, 2010 5:10am
15 min chart had 2 hammers, DTHLC. I liked this one, Mrs V said no. She has promised as soon as she gets back from hospital (clean break should heal nicely) she will consider 15 min double top high, lower closes in a different light.

Price didn't move above 15 level for 30 mins or so, oh well, seemed like a good common sense trade to me.
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  • #3,145
  • Oct 6, 2010 5:16am Oct 6, 2010 5:16am
Quoting Vantage
Dissapointed we didn't get that one. Nice.

We got the 2b buy above DO, not a convincing move up so stop already at 5899.

Target actually 1.60.
Nice! I missed that one. PA is a bit quiet today will that be anything to do with the ADP non-farm employment change later?

Actually PA not that quiet should have said GU not making any big moves so far today.
  • #3,146
  • Oct 6, 2010 5:18am Oct 6, 2010 5:18am
Quoting Vantage
15 min chart had 2 hammers, DTHLC. I liked this one, Mrs V said no. She has promised as soon as she gets back from hospital (clean break should heal nicely) she will consider 15 min double top high, lower closes in a different light.

Price didn't move above 15 level for 30 mins or so, oh well, seemed like a good common sense trade to me.
Hi V whats DTHLC stand for?
  • #3,147
  • Oct 6, 2010 5:22am Oct 6, 2010 5:22am
Quoting reflex
Nice! I missed that one. PA is a bit quiet today will that be anything to do with the ADP non-farm employment change later?
That yes and its prob run hard up last few weeks.

Typical great connection today and it doesn't do much.
  • #3,148
  • Oct 6, 2010 5:23am Oct 6, 2010 5:23am
Quoting reflex
Hi V whats DTHLC stand for?
Double top high lower close. One of the James 16 candles they like.
  • #3,149
  • Oct 6, 2010 5:28am Oct 6, 2010 5:28am
Quoting Vantage
Double top high lower close. One of the James 16 candles they like.
Ok cheers vantage.
  • #3,150
  • Oct 6, 2010 5:59am Oct 6, 2010 5:59am
Buy some USD $$$

  • #3,151
  • Oct 6, 2010 6:10am Oct 6, 2010 6:10am
Hi all,

3 trades and 3 winners, just the first two shown on the chart below.

The first trade was a continuation of an m5 2b long with div just before the FO, the 2nd was a reversal off that res , 1.3855 (prior target) at FO, closed at 1.3833.

The third trade was a Vantage m5 long back with the original m5 2b and H1 direction, 1.3853 to 1.3866 still in the FO.

There were a couple more nice long opps after price had broken the two h1 res levels and used them as support, at 1.3843 and 1.3852 but I was ready for a break by then.

All small trades but I love EU compared to GU cos the stops and targets are alot more predictable.
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  • #3,152
  • Oct 6, 2010 6:11am Oct 6, 2010 6:11am
Quoting Musashi
Buy some USD $$$

If we hadn't got a buy earlier we liked the Mon high W M3 area.

Could be volatile though in front of US news.
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  • #3,153
  • Oct 6, 2010 6:14am Oct 6, 2010 6:14am
Quoting jag1966
Hi all,

3 trades and 3 winners.
Always a bonus when that happens. Nice.
  • #3,154
  • Oct 6, 2010 6:16am Oct 6, 2010 6:16am
I'm bullish USD for the next few weeks for some reason...

Might be the weekly euro chart hitting some major supply areas

Buy USD $$$$

checkout EU 4H candle.... nice bearish outside bar forming..
  • #3,155
  • Oct 6, 2010 6:22am Oct 6, 2010 6:22am
Weekly eur fairly clear I think. Fibs, divergence, SR areas.
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  • #3,156
  • Oct 6, 2010 6:24am Oct 6, 2010 6:24am
Yes and only time will tell if this region holds price as some sort of resistance area.
  • #3,157
  • Oct 6, 2010 6:44am Oct 6, 2010 6:44am
Comment from an fxpro newsletter,

The dollar was under pressure again Wednesday after Chicago Federal Reserve President Charles Evans suggested that the Federal Reserve could be more accommodative. This once again raised expectations that the Fed will expand its quantitative easing program at the next policy meeting early in November. However, the dollar's losses against most other major currencies were limited. In the case of the euro, investors were reluctant to push the single currency too much closer to $1.40 ahead of the European Central Bank meeting Thursday as well as the meeting of finance ministers from the Group of Seven leading industrial nations in Washington this weekend. Although the ECB is expected to remain hawkish, as members of its governing council debate exit strategies from the unconventional monetary easing introduced the year before last, some at the central bank may express concern about the risk that euro strength could pose to the currency bloc's recovery. There is also some concern about what G-7 ministers might say about the growing trend for competitive devaluations as most major economies attempt to export themselves out of recession. The International Monetary Fund issued its own warning about a "currency war" if countries continue to use exchange rates to solve domestic problems. In the meantime, investors are also probably wary of buying the euro too much ahead of the latest bond offering from Portugal, a EUR1 billion auction of three-month and 12-month paper later Wednesday.
  • #3,158
  • Oct 6, 2010 6:50am Oct 6, 2010 6:50am
direction of the dow will have a major impact tonight...

futures are pointing down... not that it means much

around 10,900 on the dow right now..

would not be surprised to see euro back to the top of the range again....

will not be happy about it though as i haven't moved stops down and there it goes...

geezzz
  • #3,159
  • Oct 6, 2010 6:56am Oct 6, 2010 6:56am
Lesson is... always move stops....in direction of trade ...

Far OUT ....
  • #3,160
  • Edited 7:24am Oct 6, 2010 7:02am | Edited 7:24am
Quoting Musashi
I'm bullish USD for the next few weeks for some reason...

Might be the weekly euro chart hitting some major supply areas

Buy USD $$$$

checkout EU 4H candle.... nice bearish outside bar forming..
I have only recently noticed these h1 beebs, buebs, beobs and buobs often give fantastic opps for m5 entries into their bodies, 60% to 90% happens alot.

Very useful in pre FO, FO & LO
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