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Higher low, lower high system

  • #3,301
  • Oct 25, 2010 12:19pm Oct 25, 2010 12:19pm
Hi Vantage!

Sorry about being a way and not posting. I had to bug off for a month of training with the military. But that's another story :-)

Here is a quick trade I just snagged 10 pips from. As it is easy to see here There was a LH bounce off of the 50% retracement. I waited for confirmation of the continuation based on the price action shown. entered short at the green intersection and exited at the red intersection. I was shooting for my PO at 3944 but as the last red candle closed weak, and the next blue (bull candle) started to retrace I wasn't taking any less than 10 pips on this trade. And as we can see a retrace happend and took me out for +10.

When I get a chance I will post a little more frequently but things have been crazy for me at the moment.

Cheers!
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Nothing is impossible, with a willing mind!
  • #3,302
  • Oct 26, 2010 2:23am Oct 26, 2010 2:23am
todays trade, 18 pips, tiny stoploss, thanks Vantage.
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  • #3,303
  • Oct 26, 2010 2:59am Oct 26, 2010 2:59am
Quoting Trader_V
Hi Vantage!

Sorry about being a way and not posting. I had to bug off for a month of training with the military. But that's another story :-)

Here is a quick trade I just snagged 10 pips from. As it is easy to see here There was a LH bounce off of the 50% retracement. I waited for confirmation of the continuation based on the price action shown. entered short at the green intersection and exited at the red intersection. I was shooting for my PO at 3944 but as the last red candle closed weak, and the next blue (bull candle) started to retrace...
Its not going to run forever and after a run down like that a 10 pip scalp is fine.

Nice one, post when you can.
  • #3,304
  • Oct 26, 2010 3:03am Oct 26, 2010 3:03am
Quoting jag1966
todays trade, 18 pips, tiny stoploss, thanks Vantage.
Nice as always, higher tf setting up a nice little move.
  • #3,305
  • Oct 26, 2010 3:10am Oct 26, 2010 3:10am
We missed the hl buy at 5750 (Mrs V's bleeding has stopped nicely) and had to wait a while for this one.

A big run up to 5800, a 15 min neg close then a 15 min shooting star. Sold the low of 5 min doji (the only time we'll trade a wick in direction of a trade ie a doji) which was the 2nd lh, exited +32 at the target 50 level.
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  • #3,306
  • Oct 26, 2010 3:12am Oct 26, 2010 3:12am
Quoting Vantage
We missed the hl buy at 5750 (Mrs V's bleeding has stopped nicely) and had to wait a while for this one.

A big run up tp 5800, a 15 min neg close then a 15 min shooting star. Sold the low of 5 min doji (the only time we'll trade a wick in direction of a trade ie a doji) which was the 2nd lh, exited +32 at the target 50 level.

Nice one buddy... almost identical trade to me using the 7R chart.

Good Stuff.
  • #3,307
  • Oct 26, 2010 3:44am Oct 26, 2010 3:44am
Took that gu trade too. For me it was a countertrend trade, which I don't normally do, but it looked good. Price bounced off rn15800, entered after retest & lh as it looked good for a move down to current trend line/50% fib/rn15750 confluence. My tp was trendline which it just made.

I would normally have got back in with a buy (hl off trendline) but news makes me nervous. Went off for some breakfast & just come back to 100 pips rise!
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  • #3,308
  • Oct 26, 2010 3:49am Oct 26, 2010 3:49am
Quoting zhdeef
Took that gu trade too. For me it was a countertrend trade, which I don't normally do, but it looked good. Price bounced off rn15800, entered after retest & lh as it looked good for a move down to current trend line/50% fib/rn15750 confluence. My tp was trendline which it just made.

I would normally have got back in with a buy (hl off trendline) but news makes me nervous. Went off for some breakfast & just come back to 100 pips rise!
Yep it was definitely counter trend but at a key level, decent run already, good reversal candles etc etc.

We also aware of the news, you kick yourself when it goes but that jump would have put some stops under pressure. We'd rather not take the risk with a good trade in the bank.

Pls post more charts of your trades.
  • #3,309
  • Oct 26, 2010 4:03am Oct 26, 2010 4:03am
Hi Vantage , It's a pleasure to see your trades.
I am a bit confused with all the setups you trade ...
Any place I can read a recap of all your current setups ?
In this particular trade , as you said it was the 2nd LH , but in your chart you show that TM and BBMACD were red.
So when you ignore these 2 indicators and when you go "with the trend" (TM+BBMACD) ?
Are typically your exits at round numbers ?
Tks
David

Quoting Vantage
was the 2nd lh, exited +32 at the target 50 level.
  • #3,310
  • Oct 26, 2010 4:17am Oct 26, 2010 4:17am
Quoting david4u
Hi Vantage , It's a pleasure to see your trades.
I am a bit confused with all the setups you trade ...
Any place I can read a recap of all your current setups ?
In this particular trade , as you said it was the 2nd LH , but in your chart you show that TM and BBMACD were red.
So when you ignore these 2 indicators and when you go "with the trend" (TM+BBMACD) ?
Are typically your exits at round numbers ?
Tks
David
The set ups we're trading are under review so there isn't a list I'd like to chuck out at the mo.

My charts TM and BB macd were green, so this sell was a counter trend trade, see trade 1 in 1st post. The hl buy we missed at 5750 was a 100% system trade, see trade 2 1st post.

So yes I ignored those trend indi's in the sell but the reasons mentioned above when I posted the trade are clear and exactly as per 1st post for reasons to go counter trend. We went with the sell after the 2nd lh doji simply because the 1st lh never followed through lower. That resulted in the shooting star giving us more ammo to think it was going down.

Yes our exits are typically at the psych levels 25, 50, 75 and of course 00. On the 00 numbers we may consider on gu (I saw someone also doing this for eu) the 15/85 set up ie if falling through 15 it may go through 00 to hit some stops and go to 85 and vice versa. I think this was Cathy Lieu set up if memory serves correct.
  • #3,311
  • Oct 26, 2010 4:53pm Oct 26, 2010 4:53pm
Hi,

I've been thinking about why I should not have entered at the HL confirmed by the LO 5M bar. Reasons include:
- heading towards a round number. Recently broken but would be better for the signal to be above that.
- 15M candle just closed down (i.e not 100% system)
- Big news later so less likely to see a big push further up

Hindsight's wonderful, but is my thinking along the same lines as yours? Is there anything else?

Thanks.

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  • #3,312
  • Oct 26, 2010 6:03pm Oct 26, 2010 6:03pm
Quoting saylu
Hi,

I've been thinking about why I should not have entered at the HL confirmed by the LO 5M bar. Reasons include:
- heading towards a round number. Recently broken but would be better

Attachment
heah Saylu,
You are right that it wudnt have been a 100% system trade. Moreover, its about stacking maximum probabilities in our favour. Vantage shorted 3 candles after ur marked candle, plz hava look at his analysis i.e. post 3305.
http://cdn.forexfactory.com/attachme...5&d=1288080614

Tc..
  • #3,313
  • Oct 27, 2010 1:50am Oct 27, 2010 1:50am
Quoting saylu
Hi,

I've been thinking about why I should not have entered at the HL confirmed by the LO 5M bar. Reasons include:
- heading towards a round number. Recently broken but would be better for the signal to be above that.
- 15M candle just closed down (i.e not 100% system)
- Big news later so less likely to see a big push further up

Hindsight's wonderful, but is my thinking along the same lines as yours? Is there anything else?

Thanks.

Attachment
If I'm going to tackle a RN right on LO I want everything in my favour. No reasons to doubt the trade at all. This one had a big run up, a 15 counter trend candle and of course LO.
  • #3,314
  • Oct 27, 2010 2:34am Oct 27, 2010 2:34am
Nice trend trade using Vantage LHs on H4 and m15.

H4 then m15 charts below.
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  • #3,315
  • Oct 27, 2010 2:57am Oct 27, 2010 2:57am
Quoting jag1966
Nice trend trade using Vantage LHs on H4 and m15.

H4 then m15 charts below.
Very nice jag, with all the 15 min dojis this am on eu, gu and au we missed the move down.

Hoping the move down was the head fake and that we'll get reversal up. TWT.
  • #3,316
  • Oct 27, 2010 3:23am Oct 27, 2010 3:23am
Quoting Vantage
Very nice jag, with all the 15 min dojis this am on eu, gu and au we missed the move down.

Hoping the move down was the head fake and that we'll get reversal up. TWT.
Hi V I was thinking the same and took this trade got stoped by 1 pip! lol
Got a bad fill also.
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  • #3,317
  • Oct 27, 2010 3:30am Oct 27, 2010 3:30am
Quoting Vantage
Very nice jag, with all the 15 min dojis this am on eu, gu and au we missed the move down.

Hoping the move down was the head fake and that we'll get reversal up. TWT.
Thanks. Yesterdays close was very bearish though so I will only be watching for shorts myself.

PA will lead the way as always.
  • #3,318
  • Oct 27, 2010 3:33am Oct 27, 2010 3:33am
Quoting jag1966
Thanks. Yesterdays close was very bearish though so I will only be watching for shorts myself.

PA will lead the way as always.
Good idea...
  • #3,319
  • Oct 27, 2010 3:43am Oct 27, 2010 3:43am
CRB7 , counter trend
after +100 pips swing ...price failed to break LL making a HL at 3775 lv. Entered at the 1st bar after the 1st HL .
Is this a 100% trade based on your methodology or better to wait for 2nd HL ?
Inicial TP was at 3825 , but after I saw the bearish engulfing...
exited with +22 p
Comments are welcome
David
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  • #3,320
  • Edited 3:55am Oct 27, 2010 3:45am | Edited 3:55am
Quoting david4u
CRB7 , counter trend
after +100 pips swing ...price failed to break LL making a HL at 3775 lv. Entered at the 1st bar after the 1st HL .
Is this a 100% trade based on your methodology or better to wait for 2nd HL ?
Inicial TP was at 3825 , but after I saw the bearish engulfing...
exited with +22 p
Comments are welcome
David
Good stuff... I had a line on the chart exactly there but didn't trigger it...

Note the resistance levels in the market.
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