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Higher low, lower high system

  • #3,321
  • Oct 27, 2010 4:52am Oct 27, 2010 4:52am
RB indi won't work this morning so back to m15, but need lot more lines to get some clarity on pa.

Buy after hl & on break of ss type candle, tp on res trend line/15850 area of confluence. Because main trend is up & earlier drop went straight through rn15800 I was reasonably confident or hopeful of similar (but slower) move back up. I'm happy & done for the day.
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  • #3,322
  • Oct 27, 2010 4:53am Oct 27, 2010 4:53am
Quoting reflex
Hi V I was thinking the same and took this trade got stoped by 1 pip! lol
Got a bad fill also.
Thats very bad luck. With the 76% of Y's range at 5768 and the 75 psych level and W P at 5774 this was a prime reversal area.

We were worried about the shooting star and didn't take. I had lots of calls to take and had no trades just Mrs V this am.

Your hl took out the top of the SS which is often a good trade in itself.
  • #3,323
  • Oct 27, 2010 4:57am Oct 27, 2010 4:57am
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
No thats a good trade, hl, at key level (psych and a pivot just below) at pa extreme in and around likely turn times.

Counter trend yes but after a couple of down days some bounce likely and you took it well.
  • #3,324
  • Oct 27, 2010 5:04am Oct 27, 2010 5:04am
Earlier this am we didn't read the 15 min dojis correctly and missed out on the falls. I then had lots of phone calls and it was all down to Mrs V.

1hr pos close, 15 min hammer, nice 5 min hl, little no upper wick, buy 5807 exited at (I'm sure you can guess) +20.

She says she tried to stay in for W M3 at 5841 but just couldn't.

Heck I wasn't around not a bad ea to have. Nice one Mrs V.
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  • #3,325
  • Oct 27, 2010 5:06am Oct 27, 2010 5:06am
Quoting zhdeef
RB indi won't work this morning so back to m15, but need lot more lines to get some clarity on pa.

Buy after hl & on break of ss type candle, tp on res trend line/15850 area of confluence. Because main trend is up & earlier drop went straight through rn15800 I was reasonably confident or hopeful of similar (but slower) move back up. I'm happy & done for the day.
Nice one.
  • #3,326
  • Oct 27, 2010 5:16am Oct 27, 2010 5:16am
CR7 ...don't know how to call this setup
I see this bullish wedge breakout
price failled to stay bellow rn 3800 after LO ...
so 3800 became again support + confluence of 50% ret from today's Low
exited at upper channel for +31 pips
Comments are welcome
David
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  • #3,327
  • Oct 27, 2010 5:17am Oct 27, 2010 5:17am
Got a message asking about Mrs V's trade and we have previously said we don't like to enter trades after 50-60 pip runs.

Its a subtle diff between the reasonings behind the trades. Our trade 1 on 1st post are at the pa extremes and chances are 1hr hasn't turned around.

We do not like to take trades 40-60 (or whatever) pips from a turn unless the 1hr has closed to confirm a move up. So if pa had a solid 1hr close eg low and pa just jumps up we wouldn't like to have taken that last buy. Mrs V followed rules exactly per trade 2 on 1st post, the 1 hr and then a 15 min had pos closes.

So the diff is if pa is 40-60 pips from a turn we are not betting on an open 1hr candle, we must have a 1hr close in our direction to take continuation hl/lh trades.

Hope this clear.
  • #3,328
  • Oct 27, 2010 5:22am Oct 27, 2010 5:22am
Quoting david4u
CR7 ...don't know how to call this setup
I see this bullish wedge breakout
price failled to stay bellow rn 3800 after LO ...
so 3800 became again support + confluence of 50% ret from today's Low
exited at upper channel for +31 pips
Comments are welcome
David
The only comment I've got, what do your squiggly lines on your chart do for your trades? Otherwise very nice.
  • #3,329
  • Oct 27, 2010 5:28am Oct 27, 2010 5:28am
Vantage
what lines ?
The vertical lines (aqua + orange)

Quoting Vantage
The only comment I've got, what do your squiggly lines on your chart do for your trades?
  • #3,330
  • Oct 27, 2010 5:32am Oct 27, 2010 5:32am
Quoting david4u
Vantage
what lines ?
The vertical lines (aqua + orange)
I presume Ichi cloud?
  • #3,331
  • Oct 27, 2010 5:34am Oct 27, 2010 5:34am
Quoting Vantage
Thats very bad luck. With the 76% of Y's range at 5768 and the 75 psych level and W P at 5774 this was a prime reversal area.

We were worried about the shooting star and didn't take. I had lots of calls to take and had no trades just Mrs V this am.

Your hl took out the top of the SS which is often a good trade in itself.
Yeah it was lol I could have done the next one but was looking alot like a bear flag and by then 2 15min SS bars had formed.
took this one a min ago closed 2 thrids +10 at TL nad previous swing high. It was a bit of a risky one so was quick to get rest to BE and just got stoped out.


Cheers.
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  • #3,332
  • Oct 27, 2010 5:37am Oct 27, 2010 5:37am
Quoting reflex
Yeah it was lol I could have done the next one but was looking alot like a bear flag and by then 2 15min SS bars had formed.
took this one a min ago closed 2 thrids +10 at TL nad previous swing high. It was a bit of a risky one so was quick to get rest to BE and just got stoped out.


Cheers.
Nimble stuff, lunch time here, cheers.
  • #3,333
  • Oct 27, 2010 5:44am Oct 27, 2010 5:44am
Vanatage
Could you consider a Long entry at HL1 , HL2 ...
or , do you prefer to see first an impulsive wave up and only then wait for the retracement to enter at HL3.
Tks
David

Quoting Vantage
Heck I wasn't around not a bad ea to have. Nice one Mrs V.
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  • #3,334
  • Oct 27, 2010 6:03am Oct 27, 2010 6:03am
No Vantage
It's just a very simple indicator with 2 MA's
that just gives a nice quick visual indication if "trend" is up or down.
green - if fast MA is above slow MA - uptrend
red - if fast MA is bellow slow MA - downtrend
In your M1 setups , when we wait for MA's crosses ,it's for me a nice visual aid.



Quoting Vantage
I presume Ichi cloud?
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  • #3,335
  • Oct 27, 2010 9:05am Oct 27, 2010 9:05am
Quoting david4u
Vanatage
Could you consider a Long entry at HL1 , HL2 ...
or , do you prefer to see first an impulsive wave up and only then wait for the retracement to enter at HL3.
Tks
David
You could as they are definitely hl's.

However there was a 15 min shooting star which would mean you still needed to take care. Trade 1 rules hl, at extreme with good 15 min candles, this trade lacked the good 15 min candle. I wasn't in front of computer but the shooting star kept Mrs V out (she got burned trading a hl against a 15 min SS a week ago).

When the 2nd shooting star could not follow through lower that might have been an indication to buy when the 2nd 5 min hl closed and the tops of the 15 min shooting stars was cleared.

Mrs V opted to leave both.
  • #3,336
  • Oct 27, 2010 12:57pm Oct 27, 2010 12:57pm
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.
The higer timeframe Vantage LHs worked a treat today. 1.3740 support hit as hoped for.
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  • #3,337
  • Oct 27, 2010 2:47pm Oct 27, 2010 2:47pm
Hi David, do u mind to share ur 2ma indi? It looks nice to filter the ranging. Thanks~
  • #3,338
  • Oct 27, 2010 11:52pm Oct 27, 2010 11:52pm
Pls find the indicator

Quoting boomslang
Hi David, do u mind to share ur 2ma indi? It looks nice to filter the ranging. Thanks~
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File Type: mq4 MA ribbon filled.mq4   2 KB | 503 downloads
  • #3,339
  • Oct 28, 2010 3:02am Oct 28, 2010 3:02am
Hi,

Post 1 type 1 turn trade today. H1 run up then a SS that closed at LO time, checked 15M candle was also down. 5M started to form a LH. Price broke TL, paused and continued past the (by then) closed 5M LH candle. Got out at +13. (could have had +20 or more but that would have required more guts )

Inviting any comments particularly if I've done something not quite right and hence taken unnecessary risk.

I'm happier with turn trades this week than the type 2 100% system continuations.

Thanks.

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  • #3,340
  • Oct 28, 2010 3:36am Oct 28, 2010 3:36am
Took this trade earlier from lh on m15.

Good candle pattern as price bounced off res trend line/rn.

Cautious entry just below rn on 15795 on new candle breakout.

Target was sup tl/rn 15750 confluence but I bailed out at 15768 after a couple of unsuccesful pokes on m5 to penetrate barrier around 15760.
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