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Higher low, lower high system

  • #3,801
  • Jan 12, 2011 9:06pm Jan 12, 2011 9:06pm
When I first starting trading based on V's thread I only looked at the 5min chart and it's easy to look back on a chart and say I would have went long there and there and there and now I'm more interested in creating a solid plan of gaining confirmation from all 3 time frames. Like today it looks easy looking back that I should have kept taking long trades on EU and it would have worked out but other days only looking at the 5min could get you in bad trades. For now I'm going to continue to look at all 3 time frames and see how I do.

What did you mean you never take an old Hl/LH?

Thanks for the help Orientos, we need more people posting in here, I hate not having new pages of one of my favorite threads to read.

trublu

Quoting orientos
In my experience, using the M60 and M15 charts will protect you from many losses (especially the M15 chart).
I never take any old HL/LH and I always look for some supporting confluence. Could be the M60/M15 charts, a significant RN or other form of S/R,etc. For example, price goes up through a RN and then pulls back before advancing. The PB becomes a HL and I will take this, other things being equal.
In the end we all have to find what works for us, but Vantage's HL/LH's certaintly forms the backbone of a profitable strategy.
  • #3,802
  • Jan 13, 2011 12:55am Jan 13, 2011 12:55am
Quoting trublu
I just wanted to stop by and show my first trade in a really long time and ask a question I still struggle with. The bottom chart is the 5m EU which shows the trade I took and the one I skipped.

The x shows the trade I skipped and the up arrow shows the trade I took. The reason I skipped the x trade is because if you look to the chart in the upper left(15m) you can see the down arrow shows the candle that closed right before the x candle formed on the 5m chart. So once the 15 min chart closed as a bearish pin bar type bar I wasn't confident in...
Hi trublu

I trust you are well.

No system will get you every move.

The basis of this system is to try and get you in near the extreme (first retracement is the best trade) in and around LO using a solid 15 min turn candle as I believe turns happen quicker there. Thereafter following 1hr and 15 min candles accepting that some moves may get missed but as Orientos says following 15 min avoids losing trades.

We tend to remember the missed trades but not the losing trades avoided.

System gave an entry around 2985.

The other general comment would be (whilst not system the idea regularly made) the previous high of 3046 when tested gave several small bounces. We kept on having higher lows suggesting the move up would continue.

There were system trades above 3050.

On the specific trades you refer to then it becomes toss a coin take or not. I'd look at how much I was up during the day, consider key level/small bounce and perhaps take a punt with small stop. If you are going to take a risk at least take it in direction of trend.

On this basis the previous day was a hammer, macd histo reversed to up (yes system under development) and the short term trend in the time you mention now moving in line with daily.

If you do decide to go in you do it with your eyes wide open and accept that you are stretching rules a bit, but like I said rather stretch rules in direction of trend than punt against it. If you find you are missing too many of these trades then leave them till you are more comfortable.
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  • #3,803
  • Jan 13, 2011 1:13am Jan 13, 2011 1:13am
Quoting trublu
For now I'm going to continue to look at all 3 time frames and see how I do.

What did you mean you never take an old Hl/LH?

Thanks for the help Orientos, we need more people posting in here, I hate not having new pages of one of my favorite threads to read.

trublu
I think he means what you have now come to ie 3 time frames + important levels + time of day.

As mentioned often early US takes some time to turn easily 1-2 hours or more. 1hr shows large body positive close doji ie a buy setting up. 15 min shows clearly that we needed 2hrs for turn to occur. Red line on 15 min shows last candle of 1hr doji. Took about 30 mins for pos close 15 min candle and 5 min hl to line up. First retracement the best trade after trade lines up.
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  • #3,804
  • Jan 13, 2011 2:03am Jan 13, 2011 2:03am
Hi all, I have been concentrating on trading LH HLs on the higher timeframes hence not posting here much recently. I hope you don't mind Dave but this was such a belter I had to post a couple of charts.

The daily HL told me longs were on, I missed yesterdays echf move but traded EU and GJ long instead. This morning m15 move was amazing.
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  • #3,805
  • Jan 13, 2011 2:08am Jan 13, 2011 2:08am
Quoting jag1966
Hi all, I have been concentrating on trading LH HLs on the higher timeframes hence not posting here much recently. I hope you don't mind Dave but this was such a belter I had to post a couple of charts.

The daily HL told me longs were on, I missed yesterdays echf move but traded EU and GJ long instead. This morning m15 move was amazing.
No problem, you are always welcome!!
  • #3,806
  • Jan 13, 2011 4:58pm Jan 13, 2011 4:58pm
Quoting Vantage
Hi trublu

I trust you are well.

No system will get you every move.

The basis of this system is to try and get you in near the extreme (first retracement is the best trade) in and around LO using a solid 15 min turn candle as I believe turns happen quicker there. Thereafter following 1hr and 15 min candles accepting that some moves may get missed but as Orientos says following 15 min avoids losing trades.

We tend to remember the missed trades but not the losing trades avoided.

System gave an entry around 2985.

The other general comment...
Hey Vantage, anychance you could show some 5/15min charts with turn candles at the LO ?. Im still a little confused on how to identify these

Thanks
Dan
  • #3,807
  • Jan 14, 2011 2:51am Jan 14, 2011 2:51am
Quoting dan89
Hey Vantage, anychance you could show some 5/15min charts with turn candles at the LO ?. Im still a little confused on how to identify these

Thanks
Dan
Eur example yesterday. LO 1 candle move, early US takes 4 to go.
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  • #3,808
  • Jan 17, 2011 3:07am Jan 17, 2011 3:07am
Sold eur 3282 (against a 15 min candle) but pa didn't want to go up. Doesn't want to follow through lower so stop to BE.
  • #3,809
  • Jan 17, 2011 3:28am Jan 17, 2011 3:28am
Tried for earlier entry 3308 but got 'invalid price'.

Daily a nice doji on Fri at a key level. 1hr down as mentioned 15 min was getting res at 3280. Decided to take this lh at pa just did not seem to want to go up. Target 50 level but if not +20 fine.
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  • #3,810
  • Jan 17, 2011 3:33am Jan 17, 2011 3:33am
Quoting Vantage
Tried for earlier entry 3308 but got 'invalid price'.

Daily a nice doji on Fri at a key level. 1hr down as mentioned 15 min was getting res at 3280. Decided to take this lh at pa just did not seem to want to go up. Target 50 level but if not +20 fine.
Target hit and out. Internet connection very iffy this am, 2 loss of contacts.

I just wish some company would give the right people some kick backs so that we can get some up to date connectivity here!
  • #3,811
  • Jan 17, 2011 4:11am Jan 17, 2011 4:11am
Quoting Vantage
as mentioned 15 min was getting res at 3280. Decided to take this lh at pa just did not seem to want to go up.
15 min chart for above trade. Arrow down shows the lower wicks around 3280 but pa didn't want to go up above 3294.

There was a poss sell earlier but in the Islander tradition wait 20 mins and try again we got a top at 3294 again then a solid neg close little/no lower wick (on above 5 min chart) and an opportunity to sell. The adage I use small bounce from key level = likely fail.
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  • #3,812
  • Jan 19, 2011 7:17pm Jan 19, 2011 7:17pm
I was asked what I look for on daily:

  1. hl/lh's
  2. what candles look like
  3. fibs
  4. macd histo divergence
  5. macd histo trend

GU couldn't make the next target 1.61 and couldn't make it above the 18th's upper wick. Lots of upper wicks over the last 3 closes. MACD hasn't turned yet so buys and sells may be worthwhile. I don't see any divergence either.

Fibs provide some targets especially where they co-incide with RN's/SR levels.

Traded very little over last few days.

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  • #3,813
  • Jan 19, 2011 7:22pm Jan 19, 2011 7:22pm
AU looks promising for a move down. Shooting star, 62% fib, lower tl not drawn in but an easy eyeball will be interesting to see if it holds.
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  • #3,814
  • Jan 19, 2011 7:27pm Jan 19, 2011 7:27pm
EU also looks like it make turn around these levels.

Anyway I don't often post them, basic stuff but thats what I look for.
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  • #3,815
  • Jan 19, 2011 8:44pm Jan 19, 2011 8:44pm
Hello Vantage,
How is Mrs. Vantage, is there any improvement in her health?

Regards..

p.s. Nice posts as always.. thanks.
  • #3,816
  • Jan 20, 2011 1:49am Jan 20, 2011 1:49am
Quoting King Singh
Hello Vantage,
How is Mrs. Vantage, is there any improvement in her health?

Regards..

p.s. Nice posts as always.. thanks.
Hi King Singh
Yes, thankfully the new medicine started kicking in and she was getting up and about for the first time really last Fri.

Shes going out to have her hair done this pm. I will not be making any 'oh the hair dresser wasn't there then' (or similar jokes) just in case!!
  • #3,817
  • Jan 20, 2011 3:14am Jan 20, 2011 3:14am
Quoting Vantage
Hi King Singh
Yes, thankfully the new medicine started kicking in and she was getting up and about for the first time really last Fri.

Shes going out to have her hair done this pm. I will not be making any 'oh the hair dresser wasn't there then' (or similar jokes) just in case!!
Good to hear she is getting better.

Regards
Dan
  • #3,818
  • Jan 20, 2011 3:16am Jan 20, 2011 3:16am
Vantage, I just wanted to ask you ... at what times of the day (GMT) do you usually use your 100% system trades ?

Am i correct in saying that trades 1 and 2 on the first post are for London open ?
  • #3,819
  • Jan 20, 2011 3:44am Jan 20, 2011 3:44am
Quoting Vantage
Hi King Singh
Yes, thankfully the new medicine started kicking in and she was getting up and about for the first time really last Fri.

Shes going out to have her hair done this pm. I will not be making any 'oh the hair dresser wasn't there then' (or similar jokes) just in case!!

Coward!!

Seriously, great to hear that your good lady is on the mend! My best regards to her, V.

  • #3,820
  • Jan 20, 2011 3:54am Jan 20, 2011 3:54am
Quoting dan89
Vantage, I just wanted to ask you ... at what times of the day (GMT) do you usually use your 100% system trades ?

Am i correct in saying that trades 1 and 2 on the first post are for London open ?
Hi dan
Whilst a pattern is a pattern is a pattern (2b) you can use them any time. I focus on hl/lh's (1 2 3's) with a 15 min candle and 2b's in and around LO. Thereafter like the trades (post to come) taken this am I want to follow 1hr + 15 min.

I would definitely not be trading from this time with only a 15 min candle using today as an example (unless gu quiet but today we have broken range). GU broken up so the earlier push down to 5907 likely the head fake. The early US action in the next hour or so traditionally needs some time (much more than 15 mins) to turn around.

So in general, we've had head fake down, we have pushed out of range to top side (major S/R areas getting hit notwithstanding) I would prefer from here to follow 1hr, so selling would need some good 1hr turn candles.
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