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Higher low, lower high system

  • #4,021
  • Apr 6, 2011 3:54am Apr 6, 2011 3:54am
Beautiful system lh unfortunately right on news. Also my 4 hr ibfx feed has just produced a nice shooting star at March highs.

Attached Image (click to enlarge)
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Follow, don't anticipate.
  • #4,022
  • Apr 6, 2011 5:10am Apr 6, 2011 5:10am
Hi Vantage, there was a system lh albeit on a very shallow pullback to yesterday's high/today open/mr1 as indicated on 5 min chart.

Would you take one like this after a sharp news driven fall?

I took break of 75 psych but it didn't really go anywhere. I could have got out for small negative pips but I have tendency to hold on in situations like this.
75 seemed to be holding, I should have exited but I have done that in the past only to see the trade take off as I close.

Most successful trades take off within a bar or two which I know but my brain seems to freeze when in a trade and I often hold on past the time I should realize it's not going anywhere.

Attached Image (click to enlarge)
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Follow, don't anticipate.
  • #4,023
  • Apr 6, 2011 8:48am Apr 6, 2011 8:48am
Quoting Ian
Hi Vantage, there was a system lh albeit on a very shallow pullback to yesterday's high/today open/mr1 as indicated on 5 min chart.

Would you take one like this after a sharp news driven fall?

I took break of 75 psych but it didn't really go anywhere. I could have got out for small negative pips but I have tendency to hold on in situations like this.
75 seemed to be holding, I should have exited but I have done that in the past only to see the trade take off as I close.

Most successful trades take off within a bar or two which I know but my brain...
My rules for these types of trades have stayed pretty much the same for years.

If I have been in move I'll carry on selling each further move. But if I've missed I'll stay away from those news type breaks.

If I have sold the late move you show I'll try and exit asap when as you say it didn't go for a long time. GU so often has a news move, then drifts taking a long time to either reverse or carry on in trend.

Also there was positive divergence on CCI for a buy. Then a pos close on 15 min. With all that info I'd usually not wait for stop to get hit.

I've traded very little in the last few days. My mother has been very ill again and there have been lots of trips to doc's/specialists.
  • #4,024
  • Apr 6, 2011 8:52am Apr 6, 2011 8:52am
This is a good example of drift. CCI gave good divergence then a hl followed for a nice little buy around 6280.

Drifted for a while then with neg 1hr, 15 min shooting star a nice lh for a pretty straight forward sell. I was unfortunately not in front of the computer.
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  • #4,025
  • Apr 6, 2011 8:57am Apr 6, 2011 8:57am
Quoting Vantage
I've traded very little in the last few days. My mother has been very ill again and there have been lots of trips to doc's/specialists.
Mentally I'm not right so I'm outta here and hoping tomorrow will be good after a very quiet start to the month.
  • #4,026
  • Apr 6, 2011 9:28am Apr 6, 2011 9:28am
Quoting Vantage
Mentally I'm not right so I'm outta here and hoping tomorrow will be good after a very quiet start to the month.
Thanks very much for comprehensive reply while you have other things on your mind.
Follow, don't anticipate.
  • #4,027
  • Apr 12, 2011 9:59am Apr 12, 2011 9:59am
I have felt strangely about the market since my break and didn't see much I liked Y when I was in front of computer.

Anyway 1hr shooting star, 15 min (gravestone?) upper wick doji. 5 min lh shooting star little/no lower wick.

Target is 6250 but we are struggling here at 6260 ish.
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  • #4,028
  • Edited 10:24am Apr 12, 2011 10:04am | Edited 10:24am
Quoting Vantage
I have felt strangely about the market since my break and didn't see much I liked Y when I was in front of computer.

Anyway 1hr shooting star, 15 min (gravestone?) upper wick doji. 5 min lh shooting star little/no lower wick.

Target is 6250 but we are struggling here at 6260 ish.
Mrs V looked to left of 5 min chart and the chop above 6250 and requested a bank, we did at +28. NP if it hits original target its nice to bank a couple of %.
  • #4,029
  • Edited 2:09pm Apr 12, 2011 10:25am | Edited 2:09pm
Hi Vantage, just seen your posts. I took the same trade as follows:

1 hr shooting star off yesterday's low/1.6300/weekly pivot combo. 15 min shooting star/doji.
5 min lh. Short at 6292. Went to B/E at 75 psych level to see if it would hold. When it didn't targeted 6250/S2 level. Out at 6253 for +39. I was thinking of bailing earlier like you but sat with my finger on the trigger while we were still getting upper wicks on the 5 min.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: gu_20110412-m5.gif Size: 15 KB
Follow, don't anticipate.
  • #4,030
  • Apr 12, 2011 10:29am Apr 12, 2011 10:29am
Quoting Ian
Hi Vantage, just seen your posts. I took the same trade as follows:

1 hr shooting star off yesterday's low/1.6300/weekly pivot combo. 15 min shooting star/doji.
5 min lh. Short at 6092. Went to B/E at 75 psych level to see if it would hold. When it didn't targeted 6250/S2 level. Out at 6053 for +39. I was thinking of bailing earlier like you but sat with my finger on the trigger while we were still getting upper wicks on the 5 min.

Attachment

Attachment
What can I say but nice trade. I also went to BE around 75 level I think it was. Well done on holding out for +39, nice one.
  • #4,031
  • Apr 12, 2011 10:32am Apr 12, 2011 10:32am
Quoting Ian
Hi Vantage, just seen your posts. I took the same trade as follows:

1 hr shooting star off yesterday's low/1.6300/weekly pivot combo. 15 min shooting star/doji.
5 min lh. Short at 6092. Went to B/E at 75 psych level to see if it would hold. When it didn't targeted 6250/S2 level. Out at 6053 for +39. I was thinking of bailing earlier like you but sat with my finger on the trigger while we were still getting upper wicks on the 5 min.

Attachment

Attachment
I see you are also watching CCI and CII, is this also for divergence? Any preference or too early to call?

I thought I was done for day but Mrs V has just put Andre Rieu on .
  • #4,032
  • Apr 12, 2011 10:42am Apr 12, 2011 10:42am
Quoting Vantage
I see you are also watching CCI and CII, is this also for divergence? Any preference or too early to call?

I thought I was done for day but Mrs V has just put Andre Rieu on .
Yes, for divergence only.

I've noticed that sometimes CII will show div and CCI won't and also the other way round so I'm not sure which to stick with. It doesn't really feel right having both - (see which one shows div and use that one - lol!) Sometimes they both show it.

Shouldn't need two at the bottom of the screen really.
Follow, don't anticipate.
  • #4,033
  • Apr 12, 2011 2:45pm Apr 12, 2011 2:45pm
I like your ADR indy, neater than mine, just wondering where you got it. Looked in attachments but couldn't find it there.

BTW thanks for the vouch
Follow, don't anticipate.
  • #4,034
  • Apr 13, 2011 1:06am Apr 13, 2011 1:06am
Quoting Ian
Yes, for divergence only.

I've noticed that sometimes CII will show div and CCI won't and also the other way round so I'm not sure which to stick with. It doesn't really feel right having both - (see which one shows div and use that one - lol!) Sometimes they both show it.

Shouldn't need two at the bottom of the screen really.
I'll consider 2b's in and around London otherwise I leave as often needs longer to turn IMHO. The divergence often gives an early warning to a nice hl/lh move though.
  • #4,035
  • Apr 13, 2011 1:07am Apr 13, 2011 1:07am
Quoting Ian
I like your ADR indy, neater than mine, just wondering where you got it. Looked in attachments but couldn't find it there.

BTW thanks for the vouch
From psych levels thread, here you go.
Attached File(s)
File Type: mq4 xADR_vbobv1.mq4   4 KB | 472 downloads
  • #4,036
  • Apr 13, 2011 1:48am Apr 13, 2011 1:48am
Quoting Vantage
From psych levels thread, here you go.
Thanks.
Follow, don't anticipate.
  • #4,037
  • Apr 13, 2011 7:30am Apr 13, 2011 7:30am
We went to see my mum in hospital this morning. Shes got another cancer op which is going on even as we speak . Charts are up but surprise surprise I can't really think about trading so I think I'll shut down. Trading chances may be few and far between for the next few days, we'll see.
  • #4,038
  • Apr 13, 2011 7:36am Apr 13, 2011 7:36am
Quoting Vantage
We went to see my mum in hospital this morning. Shes got another cancer op which is going on even as we speak . Charts are up but surprise surprise I can't really think about trading so I think I'll shut down. Trading chances may be few and far between for the next few days, we'll see.
Dave - I am sorry to read about your Mum. You really have had a tough time recently. God bless, and I hope your Mum's operation is a success.
  • #4,039
  • Apr 13, 2011 7:56am Apr 13, 2011 7:56am
Quoting Delite
Dave - I am sorry to read about your Mum. You really have had a tough time recently. God bless, and I hope your Mum's operation is a success.
Thanks Delite.

Shes had a good innings. Spent 8 years or so in India when my dad went out there to run a company in 50's. My dad said come over to India lets get married, she did . Went back to the UK '62, came out here in 1980 and with the exception of last few years wandered around the world annual holidays visiting family for months at a time. Rich in many ways!

At 84 I just don't want her to suffer.
  • #4,040
  • Apr 13, 2011 7:56am Apr 13, 2011 7:56am
Vantage,

Sorry to hear about your mum. I hope the operation goes well. God bless and take care.
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