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Higher low, lower high system

  • #3,361
  • Oct 28, 2010 12:02pm Oct 28, 2010 12:02pm
Tks Vantage for explaining .
Isn't the m1 ema's cross a "stand alone" setup ?
I thought it is .
When you trade the M1 , do you need always to look at the m5+m15 charts ?
It looks to ME very difficult to set just 6-8 SL and not to get stopped out very often. It means no DD in those trades...

Quoting Vantage
We don't watch 1 min a lot, its more a case of we didn't get a 5 min entry this is an alternative. We use much smaller stops on 1 min entries 6-8 pips.
  • #3,362
  • Oct 29, 2010 1:51am Oct 29, 2010 1:51am
Quoting david4u
Tks Vantage for explaining .
Isn't the m1 ema's cross a "stand alone" setup ?
I thought it is .
When you trade the M1 , do you need always to look at the m5+m15 charts ?
It looks to ME very difficult to set just 6-8 SL and not to get stopped out very often. It means no DD in those trades...
We don't take every trade that comes along, mainly at turns. There might be the odd continuation trade like this. They do have good set up candles from 15 min though.

All I can say is check some charts, look for good 15 min candles, then a nice 1 min hl/lh wave as shown in the above posts. Be strict on trading candles that have no (or so little as to be no) wicks in direction of trade. That cuts out many small losing trades. See if its something that'll work for you.
  • #3,363
  • Oct 29, 2010 2:25am Oct 29, 2010 2:25am
1hr down, 15 min down, target was W R1 5905/RN but we struggled for a while out +9. We think the move down is the head fake. TWT.
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  • #3,364
  • Oct 29, 2010 3:19am Oct 29, 2010 3:19am
+50 Pips up... break even stops still in place...
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  • #3,365
  • Oct 29, 2010 3:23am Oct 29, 2010 3:23am
Quoting Musashi
+50 Pips up... break even stops still in place...
Very nice M.

Am I ticked off about the exit at +9, normally I say stuff let it hit BE, don't know why I changed. Lesson again not just your entry rules but exit rules also.
  • #3,366
  • Edited 4:10am Oct 29, 2010 3:28am | Edited 4:10am
Hi,

Saw LH after LO. H1 was down, last M15 bar was down. But a distraction here gave me a late entry... and then my 10 pip SL got hit .

The red line is a support from yesterday that caused price to move back up to my SL. Otherwise my target was the pivot line which was a resistance yesterday.

As usual, any comments most welcome.

Thanks.

Edit: forgot to say, I re-entered below the red line (given that the original signal was still valid) and salvaged 8 pips.

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  • #3,367
  • Oct 29, 2010 3:36am Oct 29, 2010 3:36am
+38 Locked Away.. stop just above the 50 level.

Scaled out half of contracts... +55 Pips
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  • #3,368
  • Oct 29, 2010 3:39am Oct 29, 2010 3:39am
well done !
Musashi
what was your trigger ?
I can see an entry around the blue arrow or earlier , like a 123 pattern
once the previous L (2) was broken .
I can see also a possible entry around the red arrow , as price make an other LH at RN 3900 .
Do you mind telling your trigger and marking your entry bar.
Tks
David
Quoting Musashi
+50 Pips up... break even stops still in place...
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  • #3,369
  • Oct 29, 2010 3:58am Oct 29, 2010 3:58am
Quoting david4u
well done !
Musashi
what was your trigger ?
I can see an entry around the blue arrow or earlier , like a 123 pattern
once the previous L (2) was broken .
I can see also a possible entry around the red arrow , as price make an other LH at RN 3900 .
Do you mind telling your trigger and marking your entry bar.
Tks
David
I'm using an RSI based indicator to trigger trades in direction of trend as indicated by Channel, I have a couple of methods to trigger trades based on 7R and 15R charts.

Trailing the exit is done by looking at candles and using the 25 50 75 00 levels as potential resistance levels or support levels in the market making them a great spot to move exits to. I'm sure you can see what I mean by looking at the shape of the bars and the patterns.
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  • #3,370
  • Oct 29, 2010 4:37am Oct 29, 2010 4:37am
Both found by using H4 charts for direction and then using m15 and m5 LH HL to enter.

Notice H4 swissy HL was identical to a m5 HL.

Your pattern works on every timeframe Dave.
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  • #3,371
  • Oct 29, 2010 5:00am Oct 29, 2010 5:00am
Another possible trend continuation entry... however a little late in the move to be taking it... however saying that there would of been enough room before reaching the ADR.
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  • #3,372
  • Oct 29, 2010 6:40am Oct 29, 2010 6:40am
Found gu difficult to try and trade after my early exit this am, as sometimes happens got guitis (my trading dictionary describes it as an irrational focus on gu to exclusion of good set ups elsewhere in particular eu).

OK this is not a typical trade, after a nice 15 min positive close price retraced quickly to 5900. We saw this as a 2b reject of RN.

Price moved above 75 level did a nice hl on 1 min and after it moved away from 75 I moved stop too early to 5974.

Our target was DO at 5945.
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  • #3,373
  • Oct 29, 2010 6:45am Oct 29, 2010 6:45am
Quoting Musashi
Another possible trend continuation entry... however a little late in the move to be taking it... however saying that there would of been enough room before reaching the ADR.
M and jag, very nice stuff.
  • #3,374
  • Oct 29, 2010 8:10am Oct 29, 2010 8:10am
Just open three positions and they r in profits now...lets see hw far they can go
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  • #3,375
  • Oct 29, 2010 10:33am Oct 29, 2010 10:33am
eu+27 gu+38 uc+40
  • #3,376
  • Nov 1, 2010 1:48am Nov 1, 2010 1:48am
Setup :M1 ma cross
It's early , only asian market are open ...
Closed for +20
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  • #3,377
  • Nov 1, 2010 2:05am Nov 1, 2010 2:05am
Nice.

Our 1st trade is counter trend, lh reject of 75 psych level in line with neg 15 min. Out at 50 target, as it is FH and counter trend.
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  • #3,378
  • Nov 2, 2010 4:31am Nov 2, 2010 4:31am
morning all, don't you just love these patterns.
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  • #3,379
  • Nov 2, 2010 4:44am Nov 2, 2010 4:44am
I had a same tl drawing as you, pity the bounce happened in Asian session.

We got some pips in move up but nothing to really shout about, being careful with US elections this pm.
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  • #3,380
  • Edited Nov 3, 2010 12:36pm Nov 2, 2010 1:24pm | Edited Nov 3, 2010 12:36pm
Long EU from last night,+150 pips so far, will close when pink and blue line crossing.
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