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Higher low, lower high system

  • #3,481
  • Nov 16, 2010 11:44am Nov 16, 2010 11:44am
Quoting jag1966
Boring, no way

you must have taught me too well V.

M30 HL / LH trades work well too. They are still a work in progress, most fly without a retrace, others you may have to wait for a m5 LH / HL for the safest entry.
I meant gu of course. Nice as usual jag.

Pity I didn't hang around later gu had some darn near perfect set ups again after the US news.
  • #3,482
  • Nov 16, 2010 12:21pm Nov 16, 2010 12:21pm
Quoting Vantage
... 15 min shooting star was followed by a perfect lh...
Vantage, based on your experience, in general what significance do you place on the colour of a shooting star or hammer? E.g. the one you refer to shortly after 0930GMT news closed up compared to its open. I guess I would consider the colour alongside other factors and weigh up in the overall context e.g if its signalling a turn at an extreme then I'd want a favourable colour or wait to see what the following candle does, or need other strong evidence. Just wondering how significant you think it is?

Thanks.
  • #3,483
  • Nov 17, 2010 12:09am Nov 17, 2010 12:09am
Sorry for the late post. I took this EU trade yesterday and just logged in to see my target was hit. +95
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  • #3,484
  • Nov 17, 2010 1:32am Nov 17, 2010 1:32am
CAD was the clearest looking m30 HL I could see this morning.

Happy trading all.
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  • #3,485
  • Edited 6:09am Nov 17, 2010 5:59am | Edited 6:09am
Quoting saylu
Vantage, based on your experience, in general what significance do you place on the colour of a shooting star or hammer? E.g. the one you refer to shortly after 0930GMT news closed up compared to its open. I guess I would consider the colour alongside other factors and weigh up in the overall context e.g if its signalling a turn at an extreme then I'd want a favourable colour or wait to see what the following candle does, or need other strong evidence. Just wondering how significant you think it is?

Thanks.
Not that much, want to see small body, wick 2 x body approx, so if its a small green SS thats fine. Then as you say its the other items, eg time, place and follow through.
  • #3,486
  • Nov 17, 2010 6:00am Nov 17, 2010 6:00am
Quoting A-game
Sorry for the late post. I took this EU trade yesterday and just logged in to see my target was hit. +95
Better late than never!!

Very nice trade indeed.
  • #3,487
  • Nov 17, 2010 6:01am Nov 17, 2010 6:01am
Quoting jag1966
CAD was the clearest looking m30 HL I could see this morning.

Happy trading all.
Lovely stuff as usual jag.
  • #3,488
  • Nov 17, 2010 6:09am Nov 17, 2010 6:09am
We have had 2 trades today. A sell at 5862 out for -14. 1hr down, 15 min shooting star. Because of that we missed the 2b buy set up.

We got a nice entry at 5918 sat through almost an hours sideways junk before we got some reward with a quick push down. 15 min engulfing close, reject of pivot 5936, had a double top then the lower high we entered on. 15 level didn't break for a while but when it did the 15/85 trade played out nicely.
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  • #3,489
  • Nov 17, 2010 7:38am Nov 17, 2010 7:38am
Hey V, Did you consider taking this trade. 1Hr closed lower (Doji) 15 Min was a Pinbar/Shooting star 5min lower higher triple inside bar. Took the break. In your opinion was there anything wrong with this setup ?

1Hr

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15Min

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5Min

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Thanks
Dan
  • #3,490
  • Nov 17, 2010 8:26am Nov 17, 2010 8:26am
I didn't consider (and was not at computer) as it was too close to US news, the lack of follow through following the prev 1hr close around 5880 and the general level we are at ie the Dec 09, Jan 10 lows (candle bodies).

Lack of follow through should always be a major question to ask. So after a great neg close candle why a doji on 1hr?

I only intended to look again for the London close to see if there were any good set ups.
  • #3,491
  • Nov 17, 2010 9:12am Nov 17, 2010 9:12am
Hey Dan

I know this doesn't necessarily keep in with the ethos of the thread, but you could stick an oscillator on the bottom of your chart and it could keep you out of trades like that. On the M5 chart, for example, the stoch was pointing very definitely upwards, and it may just give you pause for thought.

Just an idea.

Also, that 12.30 (GMT) candle on the M15 wasn't particularly convincing.
  • #3,492
  • Nov 17, 2010 12:09pm Nov 17, 2010 12:09pm
Hey V.

Don't know if you're still interested in these 2b trades, but here's one from 15m cable just now.....

Pretty straightforward, and the exit was because of the close proximity of the RN.

Hope you and the good lady V. are well.

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  • #3,493
  • Edited 3:54pm Nov 17, 2010 12:17pm | Edited 3:54pm
Quoting eyevoltage
Hey V.

Don't know if you're still interested in these 2b trades, but here's one from 15m cable just now.....

Pretty straightforward.

Hope you and the good lady V. are well.

Nice trade EV, I took the long m30 HL targeting the resistance you traded off of, EU not GU though.
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  • #3,494
  • Nov 17, 2010 7:02pm Nov 17, 2010 7:02pm
Quoting jag1966
Nice trade EV, I took the long m30 HL targeting the resistance you traded off of, EU not GU though.
Nice one, jag.......spot on! I like your nice clean charts as well. Easy on the eye!!

  • #3,495
  • Nov 18, 2010 1:44am Nov 18, 2010 1:44am
Quoting eyevoltage
Hey V.

Don't know if you're still interested in these 2b trades, but here's one from 15m cable just now.....

Pretty straightforward, and the exit was because of the close proximity of the RN.

Hope you and the good lady V. are well.

A little late in the day for me, a nice trade though, 2b's all over the place lately!! Nice one EV.

And another nice one from jag, you're on a roll there!!
  • #3,496
  • Nov 18, 2010 3:00am Nov 18, 2010 3:00am
I have not posted for a while, but here's another 2B I took earlier today. Entry at the arrow and my target was the RN00. Mission accomplished. Top of the run up was yesterdays high, so nice confluence.
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  • #3,497
  • Nov 18, 2010 5:25am Nov 18, 2010 5:25am
The blue square shows how the HL formed right on the R2 line and the arrow indicates the entry candle. Good for around 15-18 pips. Unfortunately, I missed this due to being busy with something else, but worth posting, nevertheless.

Edit: Orientos....nice 2b trade, mate.
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  • #3,498
  • Nov 18, 2010 5:37am Nov 18, 2010 5:37am
Quoting eyevoltage
The blue square shows how the HL formed right on the R2 line and the arrow indicates the entry candle. Good for around 15-18 pips. Unfortunately, I missed this due to being busy with something else, but worth posting, nevertheless.

Edit: Orientos....nice 2b trade, mate.
Nice chart mate, perfect m5 HL too. You gotta love these setups.
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  • #3,499
  • Nov 18, 2010 5:41am Nov 18, 2010 5:41am
Quoting eyevoltage
The blue square shows how the HL formed right on the R2 line and the arrow indicates the entry candle. Good for around 15-18 pips. Unfortunately, I missed this due to being busy with something else, but worth posting, nevertheless.

Edit: Orientos....nice 2b trade, mate.
Hi EV
I took that eur trade from the 5 min hl with the 15 min pos close. The arrow up in jags post above. Got out at just below BE when we had a 5 min SS and another move up after that failed. It then promptly jumped up nicely, oh well, it happens.

Yes, nice trade orientos.
  • #3,500
  • Nov 18, 2010 8:46am Nov 18, 2010 8:46am
Some nice setups on EJ today as well...

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