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Higher low, lower high system

  • #3,601
  • Dec 3, 2010 12:07am Dec 3, 2010 12:07am
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
Hi EV, a very nice set up no doubt about it, candle closes in lower half but with a wick (could go either way) and then lower wick closing right on the top. 2nd candle does literally have a higher low but I wouldn't term it that as I do on the thread.
Just one of those good common sense set ups. One of those why we also look a lot more at 15 min charts as even the 5 min didn't have an easy to see hl set up.
  • #3,602
  • Dec 3, 2010 12:21am Dec 3, 2010 12:21am
Got up early (well late actually didn't go jogging) at computer for the 6 am gmt move. Just missed this one by a few minutes.

If I can I like to get in an early trade on NFP days and am then prepared to sit back and watch if nothing really strikes my fancy.

Its just me today, Mrs V has high blood pressure. Saw a new doctor yesterday who promptly said the medicine shes been on for last few years was not strong enough and she's going to hospital now, seriously high BP! In typical Mrs V fashion she said stuff that (well not literally) she's going home to cook, which she did (keeping dr's info quiet for a while). Hey nobody said she's not crackers in her own way. The new medicine made her feel better almost immediately and shes taking things easy for a few days.

Anyway just me today and to be honest if 10 decent trades pass me by today I won't stress I have other things on my mind.
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  • #3,603
  • Dec 3, 2010 12:36am Dec 3, 2010 12:36am
Quoting Vantage
Got up early (well late actually didn't go jogging) at computer for the 6 am gmt move. Just missed this one by a few minutes.

If I can I like to get in an early trade on NFP days and am then prepared to sit back and watch if nothing really strikes my fancy.

Its just me today, Mrs V has high blood pressure. Saw a new doctor yesterday who promptly said the medicine shes been on for last few years was not strong enough and she's going to hospital now, seriously high BP! In typical Mrs V fashion she said stuff that (well not literally) she's going...
Nice trade Dave, same idea here ref NFP, in and out quick, I took AU. I hope mrs V follows docs orders and gets well soon.
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  • #3,604
  • Edited 3:52am Dec 3, 2010 12:43am | Edited 3:52am
Quoting jag1966
Nice trade Dave, same idea here ref NFP, in and out quick, I took AU. I hope mrs V follows docs orders and gets well soon.
Cheers jag, but that one I missed, good set up though.
  • #3,605
  • Dec 3, 2010 2:40am Dec 3, 2010 2:40am
GU got support at US late session highs around 5610, 15 min struggled to go lower. Bought 5 min hl 5623, charts later. Stop now at BE.
  • #3,606
  • Dec 3, 2010 2:44am Dec 3, 2010 2:44am
Quoting Vantage
GU got support at US late session highs around 5610, 15 min struggled to go lower. Bought 5 min hl 5623, charts later. Stop now at BE.
Hit 1st tough area, Wed's high, need to push through for Y's high target and hopefully we'll see from there if we manage push up.
  • #3,607
  • Dec 3, 2010 2:57am Dec 3, 2010 2:57am
Quoting Vantage
Hit 1st tough area, Wed's high, need to push through for Y's high target and hopefully we'll see from there if we manage push up.
OK Weds high a struggle so out +20. Also had 2 small loss of contacts, internet connection poor whenever there is a hint of rain. Just had 3rd.
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  • #3,608
  • Dec 3, 2010 2:58am Dec 3, 2010 2:58am
Quoting Vantage
Hi EV, a very nice set up no doubt about it, candle closes in lower half but with a wick (could go either way) and then lower wick closing right on the top. 2nd candle does literally have a higher low but I wouldn't term it that as I do on the thread.
Just one of those good common sense set ups. One of those why we also look a lot more at 15 min charts as even the 5 min didn't have an easy to see hl set up.
Thanks for that, me old mate. Just shows I still have a lot to learn regarding HL/LH's. Still, it just "looked" good to me and worth posting.
Hope Mrs.V is keeping alright. BP shouldn't be taken lightly.
Cheers, mate.
  • #3,609
  • Dec 3, 2010 3:33am Dec 3, 2010 3:33am
Quoting eyevoltage
Thanks for that, me old mate. Just shows I still have a lot to learn regarding HL/LH's. Still, it just "looked" good to me and worth posting.
Hope Mrs.V is keeping alright. BP shouldn't be taken lightly.
Cheers, mate.
Thanks mate, cheers.

The nice man from Defy came to fix the washing machine, didn't have the right part.

Saved me the trouble of deciding on the re-entry which with news pending would have been tricky. 15 min close little/no upper wick and of course the 5 min had nice hl close.
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  • #3,610
  • Dec 3, 2010 3:35am Dec 3, 2010 3:35am
Mrs V wants lunch now. Then I have to take my mum to the hair dressers and do some shopping, oh joy. Talk about get well soon Mrs V!!
  • #3,611
  • Dec 3, 2010 7:13am Dec 3, 2010 7:13am
hey Vantage, hope Mrs. V gets better very quickly! I understand how scary it can be. My wife has had times of really high BP too. Thank you for posting your thread and insights. You have helped me more than you know the past two years. I very much enjoy your posts! personal and forex!
  • #3,612
  • Dec 3, 2010 9:47am Dec 3, 2010 9:47am
Quoting chompjazz
hey Vantage, hope Mrs. V gets better very quickly! I understand how scary it can be. My wife has had times of really high BP too. Thank you for posting your thread and insights. You have helped me more than you know the past two years. I very much enjoy your posts! personal and forex!
Thanks for those kind words and wishes. Welcome here in hl/lh land. Glad to have been of some help.

Mrs V now seriously feeling down in the dumps. When I was out I got the obligatory (not even trying to remember if thats spelt correctly and cannot think of an easier word right now) sweets, she tucked into some wine gums and a cap came off her tooth. Trouble comes in 3's they say so I hope the 3rd one was the washing machine for her sake!!!

I was out for this one and hate to say gimme but 1hr had nice upper wick 15 min shooting stars, 5 min nice lh little/no lower wick. Half the problem is waiting for these trades to happen and avoiding getting sucked into junk.

Cheers
V's.
Mrs V says thanks for all the warm fuzzies.

Oh chompjazz you don't need to wait another 2 years for post 2.
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  • #3,613
  • Dec 6, 2010 10:19am Dec 6, 2010 10:19am
Any trades today guys ?
  • #3,614
  • Dec 6, 2010 11:45am Dec 6, 2010 11:45am
Quoting dan89
Any trades today guys ?
There were good opportunities today during London session. Unfortunately my attention was elsewhere and I kept on missing.

There are other lh's but there are 2 here where 15 min confirms. If anyone got the 2b at 5750-ish, left arrow down, thats a great trade.
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  • #3,615
  • Dec 7, 2010 2:53am Dec 7, 2010 2:53am
A valid hl but the 4hr clearly shows the potential problem level. 15 min, lots of upper wicks.

Not saying level won't fail but I'll wait for (hopefully) better candles to enter on, unless of course it just jumps up with the news.
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  • #3,616
  • Dec 7, 2010 3:31am Dec 7, 2010 3:31am
I interpreted the 15M doji (marked with the arrow) and the upper wick on the candle before it, and the shooting star before that, as a potential turn and this was followed by a 5M LH and continued down movement around 0830 GMT. Entered just below R1 (price marker on 5M chart). Had to pop out to do something so set my TP at 20, just above xx50, well before the 15M lower trend line. Didn't make TP and by then I was back and moved my SL to BE which got hit.

Please let me know if there's anything I could learn from that should have kept me from entering. Ideas...it was moving toward the day's open and DP rather than away, or the 5M wick on the LH confirmation candle?

I didn't look at the MAs at all as this was a potential turn and hence wanted to use price action.

Thanks.

Btw, Vantage, all the best for Mrs V's health.

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  • #3,617
  • Dec 7, 2010 3:41am Dec 7, 2010 3:41am
Quoting saylu
I interpreted the 15M doji (marked with the arrow) and the upper wick on the candle before it, and the shooting star before that, as a potential turn and this was followed by a 5M LH and continued down movement around 0830 GMT. Entered just below R1 (price marker on 5M chart). Had to pop out to do something so set my TP at 20, just above xx50, well before the 15M lower trend line. Didn't make TP and by then I was back and moved my SL to BE which got hit.

Please let me know if there's anything I could learn from that should have kept me from entering....
Good 15 min candles at a key level, in and around LO, it just never followed through. If it wasn't for a report of an attempted break in last night into the estate and a phone call from Defy man that he's on his way to repair washing machine (part arrived) I'd prob have given the sell a go.

Sometimes you win those counter trend trades sometimes not. You never know. There'll be days that kind of set up causes a big move.

Thanks re Mrs V. BP medication change kicking in ie making things a bit woozy, we are seeing doc tomorrow for check up.
  • #3,618
  • Dec 7, 2010 4:11am Dec 7, 2010 4:11am
Quoting Vantage
A valid hl but the 4hr clearly shows the potential problem level. 15 min, lots of upper wicks.

Not saying level won't fail but I'll wait for (hopefully) better candles to enter on, unless of course it just jumps up with the news.
Nice charts Dave.

Oil has been kind to me yesterday and today.
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  • #3,619
  • Dec 7, 2010 4:20am Dec 7, 2010 4:20am
Quoting jag1966
Nice charts Dave.

Oil has been kind to me yesterday and today.
Cheers jag, never really focused on oil but fxpro has it so I'll add to look. CLF1 cheers.

Is this a contract that has a changing reference or is it always CLF1? Any tricks that you've picked up or is it the normal way we trade (I see you focus on 30/15 min or is that just the charts you posted). Anyway for now I'll focus on 1hr, 15 + 5 min.
  • #3,620
  • Dec 7, 2010 4:27am Dec 7, 2010 4:27am
This is the post news move I was hoping for on gu. With the Defy man finishing and the reports from last night's fence breach done I missed this. Not a good time for me, missed all trades I was interested in yesterday and today so far.

In terms of system 1hr up, 15 min up, news move down strongly rejected for another hl with a massive hammer.

Anyway now I have to make lunch and catch up on some arrear washing, oh joy!.

Hopefully US session will co-operate.
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