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Higher low, lower high system

  • #3,381
  • Edited 9:14pm Nov 2, 2010 11:26am | Edited 9:14pm
Hi V
Have today some loses before this trade ...
Saw : Res. becoming Supp
Price did not hold bellow ema34
Price holding above DP (3920)/3925 lv
Exited in 2 parts for an average of +60 pips.

I use 2 ema's 34+13 and also TM to determinate the trend.
You may say it's a duplication...but for me this ribbon of 2 ema's is very helpful to hold trades and to try to catch runners.
What's your opinion regarding the use of the ribbon ?
Tks
David
Attached Image (click to enlarge)
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  • #3,382
  • Nov 2, 2010 7:20pm Nov 2, 2010 7:20pm
Lets see how far can eu and uc go. My stop loss is 20pips for both(support line)
Attached Image (click to enlarge)
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  • #3,383
  • Nov 2, 2010 9:03pm Nov 2, 2010 9:03pm
Hi boomslang,

may I know your MA setting ?

Thanks,

Quoting boomslang
Lets see how far can eu and uc go. My stop loss is 20pips for both(support line)
  • #3,384
  • Nov 2, 2010 10:40pm Nov 2, 2010 10:40pm
Quoting pipfirst
Hi boomslang,

may I know your MA setting ?

Thanks,
The pink one is 10sma, blue one is 26sma, white one is 60sma. Used in 15min chart.The stop loss relys on resistant/support line, usually its around 20-30pips.

If ur conservative trader, only long above 60sma line when candlesticks form into higher low; only short below 60sma when candlesticks form into lower high. Close when pink and blue lines crossing.

If ur aggressive trader, u can long after pink&blue corssing and candlesticks form into higher high below 60sma. The Short is opposite.

Good luck!
  • #3,385
  • Nov 2, 2010 10:59pm Nov 2, 2010 10:59pm
Thanks a lot..

Quoting boomslang
The pink one is 10sma, blue one is 26sma, white one is 60sma. Used in 15min chart.The stop loss relys on resistant/support line, usually its around 20-30pips.

If ur conservative trader, only long above 60sma line when candlesticks form into higher low; only short below 60sma when candlesticks form into lower high. Close when pink and blue lines crossing.

If ur aggressive trader, u can long after pink&blue corssing and candlesticks form into higher high below 60sma. The Short is opposite.

Good luck!
  • #3,386
  • Nov 2, 2010 11:54pm Nov 2, 2010 11:54pm
Quoting david4u
What's your opinion regarding the use of the ribbon ?
Tks
David
David if it works FOR YOU go for it!!
  • #3,387
  • Nov 3, 2010 12:53am Nov 3, 2010 12:53am
GU good 15 min hammers at extreme, 1 min hl entry candle little/low upper wick.

You guessed it +20. Mrs V auto bank indi saying exit at 6041 W M3, I had 50 level as target, thats fine though.
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  • #3,388
  • Nov 3, 2010 3:29am Nov 3, 2010 3:29am
Not a typical trade for me but eyevoltage does so many I couldn't resist. 15 min hl, bull flag, exit at Y's high +20.

Pretty sure its going higher but I have to pop out shortly and then its US news.
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  • #3,389
  • Nov 3, 2010 3:31am Nov 3, 2010 3:31am
Quoting boomslang
Lets see how far can eu and uc go. My stop loss is 20pips for both(support line)
Welcome boomslang (great name), pls post more of your trades.
  • #3,390
  • Nov 3, 2010 3:34am Nov 3, 2010 3:34am
For what its worth we are not using the trend magic, bbmacd set up. If you look at the charts below they just about co-incide with the 1hr 8 lwma, see the 5 min charts for comparison. Been comparing for a while.

The more things change the more they stay the same.
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  • #3,391
  • Nov 3, 2010 6:56am Nov 3, 2010 6:56am
These r another two trades I open in London session, just close them coz the price jumping so quickly and I think a retracement will occur later. uj+75pips, ej+110pips.

I still hold eu,uc. They didnt touch my stop loss (under support line).
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  • #3,392
  • Nov 3, 2010 7:01am Nov 3, 2010 7:01am
Quoting Vantage
Welcome boomslang (great name), pls post more of your trades.
Thanks V, I learn a lot from u. The hl/lh gives me a better entry with small stop loss than the hh/ll i used before.
  • #3,393
  • Nov 3, 2010 7:15am Nov 3, 2010 7:15am
V
Can you be so kind to add the TF to your charts .
When I read past post , it's not always easy to know that .
It should take you just a second by adding "Show OHLC" in the chart's properties.
Hope it's ok to ask.
Thanks
David
  • #3,394
  • Nov 3, 2010 11:04am Nov 3, 2010 11:04am
eu,uc hit my stop loss
  • #3,395
  • Nov 3, 2010 12:43pm Nov 3, 2010 12:43pm
Quoting boomslang
These r another two trades I open in London session, just close them coz the price jumping so quickly and I think a retracement will occur later. uj+75pips, ej+110pips.

I still hold eu,uc. They didnt touch my stop loss (under support line).
Nice trades mate, I see you like Vantages lh/hl entries on the larger timeframes too.

I look forward to seeing more of your setups.
  • #3,396
  • Nov 3, 2010 12:48pm Nov 3, 2010 12:48pm
nice hl trade on eg, I took ej, swissy and eu too, setups everywhere this afternoon.
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  • #3,397
  • Nov 3, 2010 7:35pm Nov 3, 2010 7:35pm
I should be DISCIPLINED!! The first pic is the eu i lost today, hv several chances to exit with small profit but i didnt. The white line is flat showing mkt is ranging. Im waiting for a hl entry after the FOMC news, didnt catch a nice one. Second one i exited earlier, also didnt follow my rule neither. Should be DISCIPLINED!!!
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  • #3,398
  • Nov 3, 2010 7:51pm Nov 3, 2010 7:51pm
Quoting jag1966
Nice trades mate, I see you like Vantages lh/hl entries on the larger timeframes too.

I look forward to seeing more of your setups.
Thanks Jag, the bigger tf filter noise. We all learn from each other, please put more pics too.

Happy pips!
  • #3,399
  • Nov 3, 2010 9:53pm Nov 3, 2010 9:53pm
My suggestion:dont trade until london mkt opens...usually no trend before it...
  • #3,400
  • Nov 3, 2010 10:22pm Nov 3, 2010 10:22pm
EU 1H
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