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Higher low, lower high system

  • #3,441
  • Nov 9, 2010 12:02am Nov 9, 2010 12:02am
In 15m chart of ranging mkt, those candlesticks stay in a box that formed as a few of short candlesticks in a higher tf, such as 1H or 4H chart.
  • #3,442
  • Nov 9, 2010 12:05am Nov 9, 2010 12:05am
Bcoz of that, u dont need to check 1h or 4h charts during ur trading(altough u can), u already can get clues by these former candlesticks in 15m chart.
  • #3,443
  • Nov 9, 2010 12:36am Nov 9, 2010 12:36am
Make profits in Trend. Not only these two pattern but they r quite typical and most profitable
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  • #3,444
  • Nov 9, 2010 12:49am Nov 9, 2010 12:49am
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  • #3,445
  • Nov 9, 2010 1:43am Nov 9, 2010 1:43am
Answer to Allen
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  • #3,446
  • Nov 9, 2010 2:13am Nov 9, 2010 2:13am
I'll give more examples and details later this week about stoploss setting/trailing stop/filters,etc, should be on Thursday or later. Any comments or questions r welcome. I may not anwear immediately coz im busy on trading as well as other projects, but i'll reply u asap. Also please notice, I make mistakes too, and still working on/learning this MAs strategy. Wish we can exchange fresh ideas together to boost our profit.

Happy pips to all of u!
  • #3,447
  • Nov 9, 2010 3:25am Nov 9, 2010 3:25am
Quoting boomslang
I'll give more examples and details later this week about stoploss setting/trailing stop/filters,etc, should be on Thursday or later. Any comments or questions r welcome. I may not anwear immediately coz im busy on trading as well as other projects, but i'll reply u asap. Also please notice, I make mistakes too, and still working on/learning this MAs strategy. Wish we can exchange fresh ideas together to boost our profit.

Happy pips to all of u!
You could do it like that.... or you could do it like this...

Currently about 2 x Risk on the trade...
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  • #3,448
  • Edited 7:03am Nov 9, 2010 5:00am | Edited 7:03am
Thanks for those posts boomslang (thats tree snake in afrikaans by the way).

Yep trending markets like happens late Asian/pre euro and sometimes during US will chop you to death if you over trade. We try and avoid unless all candles are lining up, don't trade against wicks.

Mrs V also likes reverse break out trade that we sometimes do. For example channel break out fails on upside, almost like a 2b set up, high prob that the low of channel will fall and vice versa.
  • #3,449
  • Nov 9, 2010 7:02am Nov 9, 2010 7:02am
I shorted AJ this morning and grabbed a few yesterday shorting EG based on the daily LH, I love this pattern.
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  • #3,450
  • Nov 9, 2010 11:12am Nov 9, 2010 11:12am
Quoting Musashi
You could do it like that.... or you could do it like this...

Currently about 2 x Risk on the trade...
Hi Musashi,

Would you mind sharing your channel indicator please ?

Thanks
  • #3,451
  • Nov 9, 2010 3:39pm Nov 9, 2010 3:39pm
easy trading today, good correlation! when there r 20-25pips, i'd like to move my stoploss to beakeven or 5 pips. ps: first one is GU.
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  • #3,452
  • Nov 10, 2010 12:36am Nov 10, 2010 12:36am
ok, i change blue into 20sma for a quick exit/reversal signal
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  • #3,453
  • Nov 10, 2010 12:43am Nov 10, 2010 12:43am
As u see, the ucad (just opened) use the same paterrn for entry as gu,eu(above pics) this morning. Consistent profit=repeat the simple profitable paterrn----this is the reversal paterrn i talked about yesterday.
  • #3,454
  • Nov 10, 2010 12:54am Nov 10, 2010 12:54am
One thing should notice is that the ucad blue angle's not as sharp as gu and eu's<----the falling red candlestick is short size<----mkt slows/less people play the game/selling power is not strong/near SR

No matter which reason, u should narrow down ur expect tp!
  • #3,455
  • Nov 10, 2010 7:48am Nov 10, 2010 7:48am
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  • #3,456
  • Nov 10, 2010 7:53am Nov 10, 2010 7:53am
For the gu, after i bought, the candlestick didnt form as higher high, so i put my stoploss as the previous lowest price in case gu's in sideway mkt (actually it was).
  • #3,457
  • Nov 10, 2010 7:59am Nov 10, 2010 7:59am
when i said "candlestick beark up blue line"(long as example), it means the whole body, or at least half of the body, of candlestick cross up blue, close price higher than blue line. Usually I use sencond candlestick to confirm.
  • #3,458
  • Nov 10, 2010 8:15am Nov 10, 2010 8:15am
Trailing stop option: ur in profit, everytime when price breaks SR, u can increase ur stop at that level. i usually put a little bit far(5-8pips) away from SR.
  • #3,459
  • Nov 10, 2010 8:29am Nov 10, 2010 8:29am
Notice, reversal occurs after a big strong trend with a little small ranging... u should check the former candlestick group, to see if they were in trend.....otherwise the entry signal may fake, it may merely a big ranging/retacement in 1H/4H tf. Its hard to filter (u can get a hint by the angle of 20sma; check the correlated ccy),well its the diff b/w professtional traders and newbie. We must grow up, or we'll be the loser among 95%.
  • #3,460
  • Nov 10, 2010 8:57am Nov 10, 2010 8:57am
Hi Boomslang,
Please tell me what is your EMA settings! Thank you!
Best regards, Csenge
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