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Higher low, lower high system

  • #3,581
  • Nov 30, 2010 7:45am Nov 30, 2010 7:45am
Quoting Vantage
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?
Sorry to hear you missed out on the start of today's move. Did you miss out on the highlighted selling opportunity as well then, V.? That would have still gotten you a few quick and easy pips.

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It's not about how much you make, it's about how much you don't lose.
  • #3,582
  • Nov 30, 2010 11:44am Nov 30, 2010 11:44am
Quoting Dhb
Sorry to hear you missed out on the start of today's move. Did you miss out on the highlighted selling opportunity as well then, V.? That would have still gotten you a few quick and easy pips.

Attachment
I have absolutely no idea what went on then, might have been when I had ej up. A poor way to end a decent month.

We have stopped trading FH, switching on computer just before LO to get our bearings. I must say feeling a little less pressure which is good.
  • #3,583
  • Nov 30, 2010 4:55pm Nov 30, 2010 4:55pm
Well, whatever happened, happened. The next profitable opportunity is always just around the corner. And don't forget, as long as you're still making pips each month, and not losing them, you're doing better than most people out there. No need to put any pressure on yourself.

Groet
It's not about how much you make, it's about how much you don't lose.
  • #3,584
  • Dec 1, 2010 1:29am Dec 1, 2010 1:29am
Morning all, H1 HL reversal today, all out before FO.

I took profit at 20 pips then added back because we had plenty of time before 7am FO.
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  • #3,585
  • Dec 1, 2010 1:55am Dec 1, 2010 1:55am
Quoting Dhb
Well, whatever happened, happened. The next profitable opportunity is always just around the corner. And don't forget, as long as you're still making pips each month, and not losing them, you're doing better than most people out there. No need to put any pressure on yourself.

Groet
Couldn't agree more, cheers.
  • #3,586
  • Dec 1, 2010 1:56am Dec 1, 2010 1:56am
Quoting jag1966
Morning all, H1 HL reversal today, all out before FO.

I took profit at 20 pips then added back because we had plenty of time before 7am FO.
Very nice there jag.
  • #3,587
  • Dec 1, 2010 4:58am Dec 1, 2010 4:58am
Quoting jag1966
Morning all, H1 HL reversal today, all out before FO.

I took profit at 20 pips then added back because we had plenty of time before 7am FO.
I added again at the new m5 HL, classic support and resistance works beautifully with your HL LHs Dave.
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  • #3,588
  • Dec 1, 2010 5:28am Dec 1, 2010 5:28am
Missed the hl with the x, the big move of the morning.

Got a counter trend sell arrow down, moved stop to BE just before the UK news in case that had an effect. It hit BE.

HL buy arrow up when the 15 min stopped flopping around and had a nice close with little/no upper wick. The 5 min hl was also the close of the 15 min. Never followed through got a few pips, no great shakes.

Gotta be a lot more on the ball just after LO.
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  • #3,589
  • Dec 1, 2010 7:20am Dec 1, 2010 7:20am
Quoting Vantage
I have absolutely no idea what went on then, might have been when I had ej up. A poor way to end a decent month.

We have stopped trading FH, switching on computer just before LO to get our bearings. I must say feeling a little less pressure which is good.
Hey V, what does FH stand for ?
  • #3,590
  • Dec 1, 2010 7:23am Dec 1, 2010 7:23am
Quoting jag1966
Morning all, H1 HL reversal today, all out before FO.

I took profit at 20 pips then added back because we had plenty of time before 7am FO.
Hey , just wondering why you took the trade on that specific candle on the 5min chart ... why not any other the other candles just before with little to no upper wick ?
  • #3,591
  • Edited 8:06am Dec 1, 2010 7:31am | Edited 8:06am
Quoting dan89
Hey , just wondering why you took the trade on that specific candle on the 5min chart ... why not any other the other candles just before with little to no upper wick ?
Frankies Hour, Frankfurt opens 1hr before London.

There were shooting stars on 15 min that we didn't want to go against. We waited for 15 min to turn around which it did 10am gmt.

We got out way too early. Trying to get Mrs V to agree to getting out half at +20 or so and letting rest run. We didn't re-enter ej as it kind of drifted up without us really seeing. When re-entries work they're great but there are also lots of these situations where we get out too soon. This morning pa was a struggle up and we were always expecting a move down, which never really happened.
  • #3,592
  • Dec 1, 2010 7:46am Dec 1, 2010 7:46am
Quoting dan89
Hey , just wondering why you took the trade on that specific candle on the 5min chart ... why not any other the other candles just before with little to no upper wick ?
Hi Dan,

to be honest I rely more on the h1,m30,m15 to decide when to enter hence me posting the H1 chart. Daves HL LH work on every time frame, even the weekly and monthly.

I use the m5 charts to manage the trade once I am in.
  • #3,593
  • Dec 1, 2010 7:53am Dec 1, 2010 7:53am
We waited for this 15 min to turn. Obviously some trades go against the 15 min, but when 15 min lining up with 1 hr trend theres a pretty high % win rate.

The 1 hr lwma doing a good job of showing trend.
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  • #3,594
  • Dec 1, 2010 8:01am Dec 1, 2010 8:01am
Quoting Vantage
We waited for this 15 min to turn. Obviously some trades go against the 15 min, but when 15 min lining up with 1 hr trend theres a pretty high % win rate.

The 1 hr lwma doing a good job of showing trend.
Beautiful stuff Dave
  • #3,595
  • Dec 1, 2010 8:22am Dec 1, 2010 8:22am
Quoting jag1966
Beautiful stuff Dave
Yep sometimes we try and complicate things. Mrs V coming around to trading only 2 set ups that we will trade which will be interesting for us (down from 6). Truth be told Mrs V mutters about trend only but we do have good stats on turn trades.

1) 2b or hl/lh at turns in and around LO.
2) 100% system trades following the 1hr and 15 min + 1hr 8 lwma. The mtf indi is on the 15 min chart above.

Both of these as per post 1.

We became overly focused on banking at +20 to our detriment and now having to work hard mentally to get out of that mindset which has formed over the last few months/years.
  • #3,596
  • Dec 1, 2010 8:38am Dec 1, 2010 8:38am
Just thinking out loud. Trades after LO.

Taking out half at say +20, moving stop to say -5 for the bounces that happen and then letting run. If you get a nice hl/lh wave can re-enter, if it just drifts fine.

You'll need to be happy that you have better than 2-1 winners. Potentially half at +20, half -5 gives + 7 on average, so using 15 pip stop 1 losing trade = 2 of lowest possible wins. The entries you get into the big runs after LO should more than make up for this.

Ultimately exiting around 14 ATR at whatever RN, pivot etc is close.

Anyway early exits remains my biggest issue, this potentially a good solution.
  • #3,597
  • Dec 1, 2010 4:08pm Dec 1, 2010 4:08pm
Hi Vantage,

Thanks for your answer.

Would this be all HL/LH trades on GU without paying attention to the 15 min?
Just to confirm candle types and HL/LH patterns.

Take a look at the 1st bigger retrace after a turn - especially in the London morning session - it very often happens to be around 62%. After that we often see a 2nd leg.

Cheers

Thomas
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  • #3,598
  • Dec 2, 2010 6:51am Dec 2, 2010 6:51am
Quoting tdeu
Hi Vantage,

Thanks for your answer.

Would this be all HL/LH trades on GU without paying attention to the 15 min?
Just to confirm candle types and HL/LH patterns.

Take a look at the 1st bigger retrace after a turn - especially in the London morning session - it very often happens to be around 62%. After that we often see a 2nd leg.

Cheers

Thomas
Hi Thomas
I've marked what I consider the hl/lh's with the x's being either very tough to call ot not hl/lh's.

The x on the left below 5575 is a toughie. The hammer in the bigger pic is obviously a hl, but it does follow a lower high and on this basis you cannot assume it'll go up after the hammer. It does not go lower and the pos close candle that follows confirms the hl but closing around 5610 its too big to trade and has a big upper wick. Of course the hammer reject of 75 psych level is a great trade but that hammer by itself a tough call.

As you say this is without trying to filter moves as we are not considering what the 15 min is doing.
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  • #3,599
  • Dec 2, 2010 12:04pm Dec 2, 2010 12:04pm
I've been pretty busy both indoors and out all afternoon, so I missed this beaut of a trade on the Aussie.

The blue square shows a really nice HL right on the Main Pivot Level, and for me, entry would have been just above the confluence of the 13/34emas or, more likely, just above the mid-point level. Target could have been either xx25 or R1.
Maybe my good friend V could give me his opinion on this?
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  • #3,600
  • Dec 2, 2010 5:42pm Dec 2, 2010 5:42pm
Quoting eyevoltage
I've been pretty busy both indoors and out all afternoon, so I missed this beaut of a trade on the Aussie.

The blue square shows a really nice HL right on the Main Pivot Level, and for me, entry would have been just above the confluence of the 13/34emas or, more likely, just above the mid-point level. Target could have been either xx25 or R1.
Maybe my good friend V could give me his opinion on this?
http://cdn.forexfactory.com/images/s...m/thumbsup.gif
I dont see how this is a HL ?.. to me its just an inside bar
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