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Higher low, lower high system

  • #3,821
  • Jan 20, 2011 3:55am Jan 20, 2011 3:55am
Quoting eyevoltage
Coward!!

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

Hey EV
I trust you are well.

Will do.
  • #3,822
  • Jan 20, 2011 3:59am Jan 20, 2011 3:59am
2 trades this am. 1hr closed a doji, strong 15 min push up. Nice hl push above 5950. +12.

Then had a neg close 15 min, never followed through. Suggesting break above had some way to go. 5min nice hl break above the 15 min immediate range.

Done 100 pips in range with W R1 at 6011 exit +25.
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  • #3,823
  • Jan 20, 2011 6:13am Jan 20, 2011 6:13am
COT shows big boys are long US$ and short eur, will be interesting to see if we get push down from here or short squeeze. Have to think eur fall? TWT.
  • #3,824
  • Jan 21, 2011 1:46am Jan 21, 2011 1:46am
Hi Vantage, I've read through all of part one and two of Paulus' trendmagic system and came across your inputs regarding entries so I naturally gravitated to your hllh system thread and am still keenly wading through it!

I have taken a small number of mostly successful trades so far and was hoping you could clear something up for me regarding hl lh entries. I took this EU trade today right on the Frankfurt open and closed it for about 15 pips profit just under the white R1 line.

I took the buy position on the second arrow when it exceeded the high of the first arrow candle. Is this correct? or should I have taken a buy when the first arrow, candle exceeded the high of the prior red candle?

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  • #3,825
  • Jan 21, 2011 2:13am Jan 21, 2011 2:13am
Quoting pedross
Hi Vantage, I've read through all of part one and two of Paulus' trendmagic system and came across your inputs regarding entries so I naturally gravitated to your hllh system thread and am still keenly wading through it!

I have taken a small number of mostly successful trades so far and was hoping you could clear something up for me regarding hl lh entries. I took this EU trade today right on the Frankfurt open and closed it for about 15 pips profit just under the white R1 line.

I took the buy position on the second arrow when it exceeded the...
Hi pedross, welcome.

Generally I take entries on hl when 1st positive close candle is exceeded by 1 pip or so ie 3514. Or when the neg close 15 min candle's high was taken out around 3508.

I don't know if I'd have considered that trade though at 3514. 1hr had big upper wick, 15 min neg close (OK that candle high got taken out) and the candle closing on 3512 was around 17 pips. In hindsight the push up from 3500 might have been best entry but with the way candles looked that would not have been consistent really with this method.

I am perhaps more conservative than some however. This whole area 3500-3550+ may be volatile, with big boys COT positions long $ and short eur. If prices get taken up there could be some big stops hit. So I'm not in anything so far this am.

Glad it worked out for you though.
  • #3,826
  • Jan 21, 2011 7:46pm Jan 21, 2011 7:46pm
Quoting Vantage
Hi pedross, welcome.

Generally I take entries on hl when 1st positive close candle is exceeded by 1 pip or so ie 3514. Or when the neg close 15 min candle's high was taken out around 3508.

I don't know if I'd have considered that trade though at 3514. 1hr had big upper wick, 15 min neg close (OK that candle high got taken out) and the candle closing on 3512 was around 17 pips. In hindsight the push up from 3500 might have been best entry but with the way candles looked that would not have been consistent really with this method.

I am perhaps...
Many thanks for your quick response V, I see what you mean re: previous 1H candle not being a strong positive candle (with its longish wick) prior to the 5M candle setup that I took. It indicates a potential lack of strength for the immediate 5M candles to follow... makes sense.

(Interesting to see the EU battling resistance at 3550 for over 6 hours since LO)

I am now clearer on the entry setup. I'll finish reading this thread, continue to demo and post trades after I come back in a few days time.

Cheers
Pete
  • #3,827
  • Jan 24, 2011 3:47am Jan 24, 2011 3:47am
Hi Vantage, just wanted to say great thread, very similar trading style to me, I will post a few trades to give some support...

on a side note, i'm glad you've reduced the number of indicators, think they sometimes can be more of a distraction than an aid...
  • #3,828
  • Jan 24, 2011 5:41am Jan 24, 2011 5:41am
Quoting darrenlittle
Hi Vantage, just wanted to say great thread, very similar trading style to me, I will post a few trades to give some support...

on a side note, i'm glad you've reduced the number of indicators, think they sometimes can be more of a distraction than an aid...
Thks, welcome here. Looking forward to some charts.

I was out this am, just got back in and looking for opp's to buy US session, TWT.

Cheers.
  • #3,829
  • Jan 24, 2011 12:34pm Jan 24, 2011 12:34pm
Quoting Vantage
Thks, welcome here. Looking forward to some charts.

I was out this am, just got back in and looking for opp's to buy US session, TWT.

Cheers.
Any trades then today V ?
  • #3,830
  • Jan 24, 2011 6:07pm Jan 24, 2011 6:07pm
Hi Vantage chart as promised,

wasn't a great day for me today, impatience is my enemy in forex, if i just waited for the big impulse moves i know i would be far more successful, wanting to be in a trade always is something i am learning to temper as i improve as a trader....

I just use the basic 123 entry pattern coupled with s/r and now, since reading this, pivots too (very useful cant believe i hadnt thought about it before)..
One thing I do try and do is look for institutional traders order flow, so im looking for an increase in candle size or strong moves if you like, entering into these trades can bring big pips fast...

I average 300 pips a week but if i could cut out the bad trades im sure i could increase this

http://i1222.photobucket.com/albums/...ls/echf123.png

+44 pips
  • #3,831
  • Jan 25, 2011 1:18am Jan 25, 2011 1:18am
Quoting dan89
Any trades then today V ?
Unfortunately not something came up here which I only finished about 4pm gmt and from the looks of the charts pa was nicely into moves and I didn't want to start trying to get in then.
  • #3,832
  • Jan 25, 2011 1:34am Jan 25, 2011 1:34am
Quoting darrenlittle
Hi Vantage chart as promised,

wasn't a great day for me today, impatience is my enemy in forex, if i just waited for the big impulse moves i know i would be far more successful, wanting to be in a trade always is something i am learning to temper as i improve as a trader....

I just use the basic 123 entry pattern coupled with s/r and now, since reading this, pivots too (very useful cant believe i hadnt thought about it before)..
One thing I do try and do is look for institutional traders order flow, so im looking for an increase in candle size...
Thats a great trade and 300 pips pw is fantastic.

I agree with you on following order flow, S/R levels, probably not something I have emphasised enough.

Some charts with clear S/R levels. Here I've used the candle bodies to mark the levels.
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  • #3,833
  • Jan 25, 2011 2:32am Jan 25, 2011 2:32am
Missed the gu move.

Sold au 9965, stop at BE as we have the earlier lows at 9955 the first problem area and just below that 50 psych/D pivot combo.

Charts to follow if trade moves lower.
  • #3,834
  • Jan 25, 2011 2:45am Jan 25, 2011 2:45am
Quoting Vantage
Missed the gu move.

Sold au 9965, stop at BE as we have the earlier lows at 9955 the first problem area and just below that 50 psych/D pivot combo.

Charts to follow if trade moves lower.
Eur had a similar set up as au. Both struggled at identified R areas. We just happened to trade au. Counter trend so I'm happy to bank pips at target level 50% of y's range which provided S area during Asian trade.
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  • #3,835
  • Jan 25, 2011 2:54am Jan 25, 2011 2:54am
Breaking past yesterday low on that pound... suspiciously like a topping pattern
  • #3,836
  • Jan 25, 2011 3:06am Jan 25, 2011 3:06am
Quoting Musashi
Breaking past yesterday low on that pound... suspiciously like a topping pattern
Hi M
Yes that 1hr neg close at the R area gave good trades for those at the computer early. 6am gmt does often give decent set ups.
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  • #3,837
  • Jan 26, 2011 3:31am Jan 26, 2011 3:31am
Two that got away.

There was a nice 2b trade with CII divergence at 5780.

I was on the phone. Mrs V tried for this hl buy 5811. She didn't get entry not sure why??
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  • #3,838
  • Jan 26, 2011 4:03am Jan 26, 2011 4:03am
good morning vantage and all....took this trade an hour ago, missed earlier moves. happy trading.
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  • #3,839
  • Jan 26, 2011 4:26am Jan 26, 2011 4:26am
Quoting bubola
good morning vantage and all....took this trade an hour ago, missed earlier moves. happy trading.
Yes pity you didn't get the earlier one!!

I have been involved in a building project and was half answering emails on costings etc half looking at charts and just wasn't thinking straight.

GU news had a big shooting star on 1hr and 15 min. It never followed through ie just the news spike and this 15 min hammer and 5 min hl close (no upper wicks) is another miss.

So Mrs V and I have both got misses today. I'm switching off now and will hopefully be back for US session and can think straight.
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  • #3,840
  • Jan 26, 2011 4:30am Jan 26, 2011 4:30am
I know you just love these setups.. I know I do... 2.7 x risk on the trade
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