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Higher low, lower high system

  • #3,561
  • Nov 29, 2010 7:35am Nov 29, 2010 7:35am
Quoting dan89
anyone looking at the 5 min pin bar on G/U 5 min ?
The pin bar (shooting star) 2 candles back was a double bottom with a higher close compared to prev candles close (DBLHC I think it is from James 16 thread), anyway take care. When US session like this it can chop you to death. 15 min just after that a hammer, at Fri's low, so it might just need a little more time to flip over on 15 min to give a sell op.
  • #3,562
  • Nov 29, 2010 7:36am Nov 29, 2010 7:36am
Quoting Vantage
Sold the lh evening star pattern 3164. Mrs V apparently wanted me to sell the doji around 3175 which would have been against the 15 min pos close candle.

I failed mind reading at school so I suggested she make her positive mental energies a little clearer and in the traditional manner ie talk woman!!!

It never followed through below 3150 so we got a few pips again.
You mentioned that the doji would have been against the positive close on 15min ... Is this the candle you are talking about ... it looks like a neg close to me ? Mabey i dont understand what pos/neg close is . isnt a neg close a candle that closes lower then the previous candle open ?

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  • #3,563
  • Nov 29, 2010 7:43am Nov 29, 2010 7:43am
Quoting dan89
You mentioned that the doji would have been against the positive close on 15min ... Is this the candle you are talking about ... it looks like a neg close to me ? Mabey i dont understand what pos/neg close is . isnt a neg close a candle that closes lower then the previous candle open ?

Attachment
Its the candle that opened on the half hour, 11.30 gmt and it closed on 3175.

In general if I say pos close I mean that candle closed in its upper half, neg close it closed in that candles lower half. Then you have to think about the wicks also.

Unfortunately I might also say higher close (like last post) meaning the candle closed higher than the prev candle close, not intending to confuse. Sorry.
  • #3,564
  • Nov 29, 2010 7:45am Nov 29, 2010 7:45am
Dan the gu 15 min might close a shooting star.
  • #3,565
  • Nov 29, 2010 7:46am Nov 29, 2010 7:46am
Quoting Vantage
Its the candle that opened on the half hour, 11.30 gmt and it closed on 3175.

In general if I say pos close I mean that candle closed in its upper half, neg close it closed in that candles lower half. Then you have to think about the wicks also.

Unfortunately I might also say higher close (like last post) meaning the candle closed higher than the prev candle close, not intending to confuse. Sorry.
Thanks for the clarification V.
Dan
  • #3,566
  • Nov 29, 2010 7:54am Nov 29, 2010 7:54am
Quoting Vantage
Dan the gu 15 min might close a shooting star.
Has it not already closed a shooting star and 13.30 GMT ?

I took the 5min pin bar 13.35 GMT (shooting star) - closed for 4%

What do you think of this trade .. is it one you would have taken

15Min
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5Min
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Thanks
Dan
  • #3,567
  • Nov 29, 2010 7:54am Nov 29, 2010 7:54am
Thats the pin bar we're discussing, 5 min chart arrow up. Double bottom but whilst the shooting star looks great it closed higher than the prev candle. When a candle like that doesn't follow through you have to take pause.

The 15 min closed 5 mins later with a hammer. Just needed 15 min to flip over, which it did with the shooting star arrow down, to give a poss sell on a 5 min lh.
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  • #3,568
  • Nov 29, 2010 7:59am Nov 29, 2010 7:59am
Quoting dan89
Has it not already closed a shooting star and 13.30 GMT ?

I took the 5min pin bar 13.35 GMT (shooting star) - closed for 4%

What do you think of this trade .. is it one you would have taken

15Min
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5Min
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Thanks
Dan
Its a nice trade, I was typing away and missed it. Not to worry I had just about switched off for the day and if it wasn't for your post I'd already have shut down.

Its a 100% trade, gu pa has been so lacklustre that you either scalp a few pips or sit at BE and see where it goes.

Good luck to you.
  • #3,569
  • Nov 29, 2010 8:01am Nov 29, 2010 8:01am
Quoting Vantage
Its a nice trade, I was typing away and missed it. Not to worry I had just about switched off for the day and if it wasn't for your post I'd already have shut down.

Its a 100% trade, gu pa has been so lacklustre that you either scalp a few pips or sit at BE and see where it goes.

Good luck to you.
Thanks for the help V, I appologize if you missed the trade becuase you were replying to my questions. I really appreciate all the help you are giving me. Many thanks

Dan
  • #3,570
  • Nov 29, 2010 8:09am Nov 29, 2010 8:09am
Quoting dan89
Thanks for the help V, I appologize if you missed the trade becuase you were replying to my questions. I really appreciate all the help you are giving me. Many thanks

Dan
Hey don't sweat it, I'm not. Like I said if you hadn't done that post I'd have switched off already. So whilst that 20 pips would have been nice end to the day you didn't make me miss anything.

You just had a great example where you just have to wait for 15 min candle to flip over for a great trade. Also a good warning, the 5 min shooting star (my chart above) was never a true lh, the lh was where you took the trade around 5575.
  • #3,571
  • Nov 29, 2010 8:11am Nov 29, 2010 8:11am
OK I'm outta here, the battle continues tomorrow.
  • #3,572
  • Nov 29, 2010 1:31pm Nov 29, 2010 1:31pm
Hi Vantage,

What do you mean with "immediate range around LO"? Do you trade a breakout or a pullback AFTER a breakout from that range?

What do you mean with a "decent candle pre US session"? A decent H1 candle?

Cheers

Thomas

Quoting Vantage
Watch for LO head fake. Main move for LO likely after 9am gmt than before, look for break of immediate range around LO, likely to give decent trade. If initial LO move quiet then don't panic move around 10am gmt likely. If LO session really quiet don't panic wait for decent candle pre US session (exactly like today) as pre US often takes an hour or two to turn. Once running take counter trend with great care.
  • #3,573
  • Edited 7:36pm Nov 29, 2010 7:02pm | Edited 7:36pm
Quoting tdeu
Hi Vantage,

What do you mean with "immediate range around LO"? Do you trade a breakout or a pullback AFTER a breakout from that range?

What do you mean with a "decent candle pre US session"? A decent H1 candle?

Cheers

Thomas
See the red lines, a break out of that immediate range normally gives a decent trade. It can still be a head fake though, but good enough for decent pips. I don't just trade the break out as I'm sure you know, must still be according to post 1 rules.

Decent candle pre US definitely a 1hr candle.
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  • #3,574
  • Nov 29, 2010 11:40pm Nov 29, 2010 11:40pm
I studied the first few pages and started followed this system from page 169 when Dave sent me a pm. Yesterday I sent Dave a pm telling him I am not yet familiar with all the technical aspects of his system as I am busy with other stuff and I haven't had time to study this system in detail. Hopefully I've have more time on my hands early next year to study the entire thread.

In my early days of trading I was trading according to what the indicators were telling me. And you can image what happened - burned about three accounts (luckily all were mini accounts). That was when I decided indicators are not for me. That is why/what I like about Dave's system. Minimal indicators - all about price actions.

I am also currently trading another 5min system - these two systems compliment each other very nicely. Just what I needed - thanks Dave for introducing me to your thread/system.

This is a high risk trade (not in line with the 15min chart) I entered late yesterday - see my comments on the charts (that is how I like to present my charts - sorry if it is too busy for some of you but a picture is telling me more than 1 000 words)
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #3,575
  • Nov 30, 2010 2:12am Nov 30, 2010 2:12am
Quoting Golfer
I studied the first few pages and started followed this system from page 169 when Dave sent me a pm. Yesterday I sent Dave a pm telling him I am not yet familiar with all the technical aspects of his system as I am busy with other stuff and I haven't had time to study this system in detail. Hopefully I've have more time on my hands early next year to study the entire thread.

In my early days of trading I was trading according to what the indicators were telling me. And you can image what happened - burned about three accounts (luckily all were...
15 min did have a lower wick and you were bouncing from the days lows.

Eur hit 50% of June '10, Nov '10 range. Not sure how Irelands problems will play out but it'll be interesting to see if we have bounce from here or fall to 62% around 2800. TWT.
  • #3,576
  • Nov 30, 2010 3:30am Nov 30, 2010 3:30am
EV style 15M TL break below today's open, and a Vantage 1M LH. Chart attached.

There was a 5M HL before this but decided to wait due to wicks and heading towards DP and it did cross my mind that the general trend has been down recently.

Fortunately, I wasn't around for the LO candle but a 15M TL break upwards would have got me ready to enter given also the hammer 2 bars before it. I'm hoping I would have considered that lack of follow through after the hammer as a bad sign and, as above, heading towards DP.

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  • #3,577
  • Nov 30, 2010 3:33am Nov 30, 2010 3:33am
I think I'm going to be sick.

Avoided the failed hl buy as the upper wick was too large, see the x.

Missed the 2b sell, then didn't want to take the sell immediately above the RN and now we've run down over 100 pips. I hate taking trades after that kind of range done and I've missed out.

Early unexpected day off from here?
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  • #3,578
  • Nov 30, 2010 3:36am Nov 30, 2010 3:36am
Quoting saylu
EV style 15M TL break below today's open, and a Vantage 1M LH. Chart attached.

There was a 5M HL before this but decided to wait due to wicks and heading towards DP and it did cross my mind that the general trend has been down recently.

Fortunately, I wasn't around for the LO candle but a 15M TL break upwards would have got me ready to enter given also the hammer 2 bars before it. I'm hoping I would have considered that lack of follow through after the hammer as a bad sign and, as above, heading towards DP.

Attachment
Nice trade saylu. Care to post the 1 min charts also to show entry?
  • #3,579
  • Nov 30, 2010 4:01am Nov 30, 2010 4:01am
Quoting Vantage
Nice trade saylu. Care to post the 1 min charts also to show entry?
Here's the 1M chart. LH before the arrow. Arrow is the signal candle (the red down candle) after the green pullback, no wick.

Price is also moving away from the RN.

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  • #3,580
  • Nov 30, 2010 4:03am Nov 30, 2010 4:03am
Quoting saylu
Here's the 1M chart. LH before the arrow. Arrow is the signal candle (the red down candle) after the green pullback, no wick.

Price is also moving away from the RN.

Attachment
Cheers, nice one.
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