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Higher low, lower high system

  • #4,101
  • Apr 29, 2011 2:27am Apr 29, 2011 2:27am
Quoting FXfreak
Good morning!

Although I don't know if trading today with bank holiday in GB is a good idea I took a short.

H1 at resistance, M15 turned bearish, entry from m5. any comments are appreciated :-)
Mrs V took trade at LO with 1hr neg close, 15 min neg close, 5 min lh SS no lower wick 6648. Just got stopped out at -15. She didn't see it was a public hol that might have kept her out of trading right on LO.
  • #4,102
  • Apr 29, 2011 3:21am Apr 29, 2011 3:21am
Quoting Vantage
Mrs V took trade at LO with 1hr neg close, 15 min neg close, 5 min lh SS no lower wick 6648. Just got stopped out at -15. She didn't see it was a public hol that might have kept her out of trading right on LO.
i closed my trade for a loss too. i was +10 but i thought gu would move south more. when do you decide to move sl to be?
  • #4,103
  • Apr 29, 2011 3:40am Apr 29, 2011 3:40am
Quoting FXfreak
i closed my trade for a loss too. i was +10 but i thought gu would move south more. when do you decide to move sl to be?
Generally if we get to +10, then come back to BE and then get to +10 again on closed candles.
  • #4,104
  • Apr 29, 2011 3:45am Apr 29, 2011 3:45am
Mrs V sold right on LO with this 1hr neg close and 15 min neg close and the 5 min SS, it looks like we'll be paying much more attention to the POC lines in future.

Just 1 of those things with good neg closes and sell divergence from 1hr looked decent sell.

All in all with the UK hol's (which she missed at FF) + LO + POC perhaps not the best trade.
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  • #4,105
  • May 3, 2011 3:51am May 3, 2011 3:51am
Mrs V already in bed a bit fluish and I'm off now. Sorry to have missed these set ups this am but hope to be trading from tomorrow.
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  • #4,106
  • May 3, 2011 4:09am May 3, 2011 4:09am
Hi Vantage,
I've been browsing around your threads and wondered if you could tell me what moving averages you are using on the chart you just posted. You seem to have changed the settings from thread to thread by a little bit and I can't seem to find the current one.
Thanks.

PS. I hope Mrs V gets well soon.
If you don't risk, you don't ever have to lose.
  • #4,107
  • May 3, 2011 7:46am May 3, 2011 7:46am
Quoting bug
PS. I hope Mrs V gets well soon.
Cheers, you and me both mate.

8 lwma and 20 ema at the moment.
  • #4,108
  • May 4, 2011 2:31am May 4, 2011 2:31am
Hit +20 2nd time will be putting stop to BE now. Will post 1hr + 15 min soon.
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  • #4,109
  • May 4, 2011 3:13am May 4, 2011 3:13am
Quoting Vantage
Hit +20 2nd time will be putting stop to BE now. Will post 1hr + 15 min soon.
Couldn't reach 75 level happy to bank +29.

1hr above 8 lwma, 15 min a small inside bar that failed to upside.

5 min hl, little/no upper wick push up from daily pivot/25/POC combo.

I initially had a TP level at Y's high but 1hr clearly shows a potential problem at 75 level from 29 Apr.
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  • #4,110
  • May 4, 2011 4:42am May 4, 2011 4:42am
Mrs V needed tea, the washing hanging out and the dishwasher putting on. Yes her last slave died of, you guessed it, overwork . Come back soon Mrs V, I'll be surprised if its this week though.

Anyway whilst I was doing all that, this opportunity did present itself, nice 15 min hammer rejecting a move below the cluster of POC points. 5 min hl shown.

With the big boys short US$ it will prob be US session before vol picks up to break higher. TWT.
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  • #4,111
  • May 6, 2011 6:21am May 6, 2011 6:21am
Quoting Vantage
I recall Seth Gregory saying gu tends to gravitate to pivot on nfp days and it certainly did today.
Shame couldn't find a decent entry this morning.

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Follow, don't anticipate.
  • #4,112
  • May 6, 2011 6:26am May 6, 2011 6:26am
Quoting Ian
Shame couldn't find a decent entry this morning.

Attachment
I take it that post (I recall Seth Gregory saying gu tends to gravitate to pivot on nfp days and it certainly did today.) is from last month's nfp. I was thinking of that and the only possible gu trade for me was the hl close 11.15 gmt right on 6400 so we left it.

Yet again though price found its way to D pivot 6428.
  • #4,113
  • May 6, 2011 6:34am May 6, 2011 6:34am
Quoting Vantage
I take it that post (I recall Seth Gregory saying gu tends to gravitate to pivot on nfp days and it certainly did today.) is from last month's nfp. I was thinking of that and the only possible gu trade for me was the hl close 11.15 gmt right on 6400 so we left it.

Yet again though price found its way to D pivot 6428.
Yes that was April NFP. I did look at the close of the 10.10 bar but that was also trading into 6400 and 15 mins before King due to speak.

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Follow, don't anticipate.
  • #4,114
  • May 8, 2011 1:38pm May 8, 2011 1:38pm
Quoting Ian
Yes that was April NFP. I did look at the close of the 10.10 bar but that was also trading into 6400 and 15 mins before King due to speak.

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I meant the candle about 12 candles to right of your arrow up.
  • #4,115
  • May 8, 2011 1:40pm May 8, 2011 1:40pm
Quoting Vantage
I take it that post (I recall Seth Gregory saying gu tends to gravitate to pivot on nfp days and it certainly did today.) is from last month's nfp. I was thinking of that and the only possible gu trade for me was the hl close 11.15 gmt right on 6400 so we left it.

Yet again though price found its way to D pivot 6428.
Oh made a diary note specifically for next nfp to take a trade on this if it lines up with normal rules instead of sitting out TWT.
  • #4,116
  • Edited 2:07pm May 8, 2011 1:45pm | Edited 2:07pm
April was not good for reasons mentioned we traded on a handful of days only. Prior to that I have realised that years of trading a certain way seems to have leaked and we have been taking fewer and fewer hl/lh's at extremes. Perhaps this is Mrs V's preference for trend trades.

We have been talking a lot about this and need to sort out, need to get Closer to the Edge if this doesn't motivate me nothing will, wow, wow, wow. Not to be confused with Close to the Edge by Yes from the same titled 1972 record and on their live album Yessongs from 1974 (up there with the best live albums of all time and my current fave). Just showing my age!!

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  • #4,117
  • May 8, 2011 2:09pm May 8, 2011 2:09pm
Quoting Vantage
I meant the candle about 12 candles to right of your arrow up.
Oops, yes I saw that one you mentioned at 11.15. I also saw the earlier one at 10.15 as a system trade (1hr doji, 15 min pos close, 5 min hl with minimal upper wick) but left for more or less the same reason (proximity to RN etc).
Follow, don't anticipate.
  • #4,118
  • Edited 7:46am May 10, 2011 5:45am | Edited 7:46am
One of the reasons we have identified for our below par performance of late has been too much posting/loss of focus in trading time. We are being strict now.

Last 2 days have been on eur with the ranges its had. System trades have been good in particular hl/lh's at the extremes.

I did get a pm asking me to clarify trades at extremes v using 1hr. The last 2 days have given some great examples.

Y's eur had good 15 min candle coinciding with the arrow left candle, entry 4385 area. HL at recent price extreme. Then a 2b type sell at recent extreme, 15 min shooting star.

The x above 4425 is NOT a buy. Its a continuation hl, however we are 70 odd pips into a move BUT the 1hr has not closed yet. We hate those and avoid. The x above 4375 was very close to news and we left it.
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  • #4,119
  • May 10, 2011 5:51am May 10, 2011 5:51am
Todays eur, great trade at extreme. 15 min hammer but then a small SS. 5 min hl at recent extreme, entry when price moved above 15 min SS high.

HL continuation trade, fine as 1hr has closed positive, 15 min another SS entry at 4331 when SS high taken out.
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  • #4,120
  • May 10, 2011 8:57am May 10, 2011 8:57am
1hr doji reject of 4400/high vol POC area. 15 min had solid neg closes. 5 min lh SS. gave it a couple of chances to go lower out +19.

Then hoped we would get a nice lh candle below 4350 to trade down to the obvious S area 4325. Didn't happen.

I think I'm finished for the day, we are way below our 5 day ATR so that makes a London close trade unlikely.

A good day overall for hl/lh's by any standard!!
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