Higher low, lower high system | Page 208 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

What are Higher High, Higher Low, Lower High and Lower Low? 11 replies

How to program Higher-High Higher-Low 19 replies

Higher High/Higher Low indicator conversion from 4 to 5 decimals. Help anyone? 2 replies

Can u point me to code 2 show each bar with a higher high & higher low? 2 replies

High to High and Low to low time cycles 1 reply

Attachments: Higher low, lower high system
Exit Attachments

Higher low, lower high system

  • #4,141
  • May 13, 2011 3:10am May 13, 2011 3:10am
This mornings miss and 2 trades.

Both charts left arrow up. 15 min solid pos close and 5 min hl. Moved right on frankies open so we left, with 1hr, 15 min and 5 min hl all lining up thats a trade. Goes down as a miss.

Both charts arrow down. 15 min divergence, shooting star, 5 min 2b. Never followed through out at BE.

Right arrow up on both. 15 min hammer, 5 min little/no upper wick entry 4261. Nice trade. There was an upper wick on 1hr but we are of view eur up from here in line with 1hr higher low. Great angle on ma's so short term trend clear.

With Trichet speaking I'm off to get Mrs V's new tyre sorted.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.gif Size: 17 KB
Click to Enlarge Name: 2.gif Size: 15 KB
  • #4,142
  • May 13, 2011 3:11am May 13, 2011 3:11am
Quoting Ian
EU 1 hr pos close, 15 min bounce off support, pos close above 4250, 5 min hl nice bar v small upper wick. Entry 1.4260, closed at 4302 for +40 at 9.00 am as Trichet due to speak.

Attachment

Attachment

Attachment
Nice trade Ian as you'll now see we got the same one.
  • #4,143
  • May 13, 2011 3:13am May 13, 2011 3:13am
Quoting Vantage
Nice trade Ian as you'll now see we got the same one.
Yes out a bit early as it transpires! Anyway happy with +40 for the day.
Follow, don't anticipate.
  • #4,144
  • May 16, 2011 5:24am May 16, 2011 5:24am
One of those days when gu was a mess and we were focused on eu. 2 trades, 2 poss trades that were left.

15 and 5 min charts. Left arrows up. Ma's clearly show the trend, 15 min hammer, 5 min hl little/no upper wick entry 4112.

We then got into the 4150 area Thurs low. Left arrows down. 15 min had a bit of an upper wick then no follow through and a hanging man doji. 5 min lh doji at the recent price extreme, at the Thurs low SR area entry 4137.

We missed the move up from 4125, went up to the 4150 area with 15 min giving another upper wick and this time a green hanging man. Middle arrows down. The 5 min engulfing candle closed a little on the large side just above 4125 so we left.

Arrows down right. A nice shooting star, 5 min lh high but getting into the dead time so we also left.

No losing trades this am, thats always a bonus.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.gif Size: 17 KB
Click to Enlarge Name: 2.gif Size: 18 KB
  • #4,145
  • May 16, 2011 5:36am May 16, 2011 5:36am
Quoting Vantage

Arrows down right. A nice shooting star, 5 min lh high but getting into the dead time so we also left.
If we had taken that last lh sell around 4115, more than likely we would not have waited for the supp just above 4100 to move eur up and hit a stop. Would have been looking at BE most likely.
Attached Image (click to enlarge)
Click to Enlarge Name: 3.gif Size: 18 KB
  • #4,146
  • May 18, 2011 7:24am May 18, 2011 7:24am
Just been giving myself a good kicking for moving stop down too soon.

EU been looking bearish all morning. 1 hr nice bearish bars/shooting stars plenty of nice upper wicks. Then got a nice 15 min outside bar virtually no lower wick, bounce off upper trend line. 5 min lh small lower wick followed by shooting star. Entry at 4241. Ok we're trading into some hefty support (including Y high/today open/MR1/POCs) so I'm not willing to take a full loss on this one if it bounces.

Anyway as you say Vantage smaller bounces from key levels points towards a possible failure of the level. There's another lh followed by another test of support then a couple of doji's. Willing to give it one more chance to go. During the second doji I decide to put my stop to B/E while the support is being tested. Stop gets hit followed immediately by failure of the level.

Never mind - on to the next one.

Attached Image (click to enlarge)
Click to Enlarge Name: eu_20110518-m5.gif Size: 17 KB


Attached Image (click to enlarge)
Click to Enlarge Name: eu_20110518-m15.gif Size: 16 KB


Attached Image (click to enlarge)
Click to Enlarge Name: eu_20110518-h1.gif Size: 16 KB
Follow, don't anticipate.
  • #4,147
  • May 18, 2011 7:45am May 18, 2011 7:45am
Quoting Ian
Just been giving myself a good kicking for moving stop down too soon.

EU been looking bearish all morning. 1 hr nice bearish bars/shooting stars plenty of nice upper wicks. Then got a nice 15 min outside bar virtually no lower wick, bounce off upper trend line. 5 min lh small lower wick followed by shooting star. Entry at 4241. Ok we're trading into some hefty support (including Y high/today open/MR1/POCs) so I'm not willing to take a full loss on this one if it bounces.

Anyway as you say Vantage smaller bounces from key levels points towards...
It happens I've had 2 recently where my stops were literally a pip too small so instead of +45/50 had -24 (1 was an entry on a move below psych level in trend with small stop).
  • #4,148
  • May 18, 2011 7:52am May 18, 2011 7:52am
Overall the hl/lh/2b trades have been really good over the last week or so. The other day gu had 7/8 entries with no losers and 2 BE's.

Today was another great day for gu starting with a 2b just after FO.

Anyway this might be my last trade of move down (some thunder rumbling around, must be, its not my stomach just had 2 chicken burgers made with Mrs V's secret sauce).

Its not a trade I'd take easily but one of those where if you have solid pips in the bank I'm prepared to risk 12 or so. Sometimes in and around US session you get some messing about before London trend continues. Like a 2b trade theres a marginally higher high that fails. 15 min has a pos close then 2 hammers that fail to follow through higher. There's a marginally higher high then no follow through 5 min lh doji, sold the low. +22.

Again I'd only want to take these with solid pips in the bank.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2.gif Size: 17 KB
Click to Enlarge Name: 3.gif Size: 15 KB
  • #4,149
  • May 19, 2011 4:31am May 19, 2011 4:31am
Quoting Vantage
It happens I've had 2 recently where my stops were literally a pip too small so instead of +45/50 had -24 (1 was an entry on a move below psych level in trend with small stop).
Ouch!

Currently long from 4224 after m15 hammer at extreme with divergence, 5 min 2b with divergence off weekly pivot/POC combo. Waiting to see if pivot will give way.

Attached Image (click to enlarge)
Click to Enlarge Name: eu_20110519-m5.gif Size: 14 KB


Attached Image (click to enlarge)
Click to Enlarge Name: eu_20110519-m15.gif Size: 14 KB
Follow, don't anticipate.
  • #4,150
  • May 19, 2011 4:58am May 19, 2011 4:58am
Quoting Ian
Ouch!

Currently long from 4224 after m15 hammer at extreme with divergence, 5 min 2b with divergence off weekly pivot/POC combo. Waiting to see if pivot will give way.

Attachment

Attachment
Nice one. After getting to the computer nice and early something came up that I had to attend to and missed some very nice eur trades signalled by classic 15 min turn candles.

No problem one of the losing trades posted earlier that I had, it gave another signal about 3 candles later to make up.
  • #4,151
  • May 19, 2011 6:16am May 19, 2011 6:16am
Quoting Ian

Currently long from 4224 after m15 hammer at extreme with divergence, 5 min 2b with divergence off weekly pivot/POC combo. Waiting to see if pivot will give way.
Stopped at 4271 for +47. I was waiting to see if it would turn into an 85/15 trade but price only made one attempt at R1.

Did enter earlier trade left arrow both charts, 15 min hammer at extreme followed by inside bar rejection of MS1, 5 min hl entered at 4234, out at b/e when the pivot held.

Attached Image (click to enlarge)
Click to Enlarge Name: eu_20110519-m15.gif Size: 14 KB


Attached Image (click to enlarge)
Click to Enlarge Name: eu_20110519-m5.gif Size: 15 KB
Follow, don't anticipate.
  • #4,152
  • Edited 6:46am May 19, 2011 6:42am | Edited 6:46am
Quoting Vantage
Nice one. After getting to the computer nice and early something came up that I had to attend to and missed some very nice eur trades signalled by classic 15 min turn candles.
Yes didn't get to comp until about 7.30 after commute to work but I still missed that nice lh at LO (due to lack of attention) which would have been a good start to the day.
Follow, don't anticipate.
  • #4,153
  • May 19, 2011 7:39am May 19, 2011 7:39am
Quoting Ian
Stopped at 4271 for +47. I was waiting to see if it would turn into an 85/15 trade but price only made one attempt at R1.

Did enter earlier trade left arrow both charts, 15 min hammer at extreme followed by inside bar rejection of MS1, 5 min hl entered at 4234, out at b/e when the pivot held.

Attachment

Attachment
And after the last post I've been out/back again!!

Anyway great trading first to get out at BE and then the 2b with another 15 min hammer + divergence.
  • #4,154
  • May 19, 2011 8:59am May 19, 2011 8:59am
Quoting Vantage
Anyway great trading first to get out at BE and then the 2b with another 15 min hammer + divergence.
Cheers, those 4000-odd posts were worth reading for sure!
Follow, don't anticipate.
  • #4,155
  • May 19, 2011 10:02am May 19, 2011 10:02am
GU arrow up. Missed this engulfing close but as sometimes happens eur followed with a morning star pattern up from M2/75 area 5 mins later (also a 2b).

After the news good gu bun fight between 60 and 75, was looking to sell but one of those times when I didn't get a nice candle with little/no lower wick. So we let that one go, I really struggle to trade on an open candle.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.gif Size: 19 KB
Click to Enlarge Name: 2.gif Size: 19 KB
  • #4,156
  • May 19, 2011 3:10pm May 19, 2011 3:10pm
Quoting Vantage
GU arrow up. Missed this engulfing close but as sometimes happens eur followed with a morning star pattern up from M2/75 area 5 mins later (also a 2b).

After the news good gu bun fight between 60 and 75, was looking to sell but one of those times when I didn't get a nice candle with little/no lower wick. So we let that one go, I really struggle to trade on an open candle.
Vantage, I have a couple of questions on your charts.

GU chart first arrow, engulfing close. There was a 15 min hammer but 1 hr was a negative close so strictly speaking not system and price is not at an extreme. Price couldn't break below the 1 hr low so is this the reason you were willing to trade long?

Later (2nd arrow) when you were looking to sell the 1 hr had closed positive but again price couldn't break the high. There didn't seem to be any particular direction after the US news, a 15 min hammer followed by a doji/ss. Was there a particular reason you were looking to short?

Regarding EU chart. When trading Evening/Morning Star patterns, will you take those in isolation? Do you want, at least, a confirming 15 min bar. In your Euro example the 15 min was a spinning top with a neg close - I suppose an indecision candle as it couldn't close below the 25 psych level. Would you still have taken the trade with a lower close on the 15 min or don't you look at the 15 min at all for this pattern? Obviously this one was at a good area with the support of the 4 hr trend line (thanks for pointing that out pgd).
Follow, don't anticipate.
  • #4,157
  • May 19, 2011 3:51pm May 19, 2011 3:51pm
Hello Vantage,

First of all thanks a lot for a very inspiring thread. I have learnt a lot reading your posts. I still have some 200 pages to read but I would already like to share with you my today's trade on GBP/USD.

Looking forward for your comments !
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 19mai2011 gbpusd 1h.gif Size: 15 KB
Click to Enlarge Name: 19mai2011 gbpusd 15m.gif Size: 11 KB
Click to Enlarge Name: 19mai2011 gbpusd 5m.gif Size: 15 KB
"A goal without a plan is just a wish" - Antoine de Saint-Exupery
  • #4,158
  • May 20, 2011 3:09am May 20, 2011 3:09am
Quoting Ian
Vantage, I have a couple of questions on your charts.

GU chart first arrow, engulfing close. There was a 15 min hammer but 1 hr was a negative close so strictly speaking not system and price is not at an extreme. Price couldn't break below the 1 hr low so is this the reason you were willing to trade long?

Later (2nd arrow) when you were looking to sell the 1 hr had closed positive but again price couldn't break the high. There didn't seem to be any particular direction after the US news, a 15 min hammer followed by a doji/ss. Was there a particular...
Hi Ian
Yesterday was all about small ranges and good 15 min candles at extremes. I'll say at or near extremes. GU in the chart wasn't at its extreme for the day but the prev extreme 6130 was quickly turned for a move up and later became an inverted H + S at the 6150 level. So 6150 was important.

Its one of those decisions that you make. Supp, res areas are key and if you have good candles at those levels will you be happy with a trade there or beat yourself up. Y I was happy with that one. Do I spot them all the time, no far from it, Y just happened to be a level that I did see.

So one of those things perhaps not mentioned is if a level has been tested what was the reaction. 6130 for me Y was a clear reaction.

A spinning top is usually a good reversal signal at an extreme. I saw the eur 15 min more of an engulfing close that a ST as I recall.

It was also at a key level, although also not at the extreme of the day, the move earlier to the RN was also quickly rejected.

Today for example there have been some levels I have been interested in the candles haven't been quite right so no trades yet.

Haven't look at psych levels pivots and trendlines thread yet those guys have prob seen things much better than me this am. Perhaps its just a Freaky Fri situation.
  • #4,159
  • May 20, 2011 3:14am May 20, 2011 3:14am
Quoting trzcinek
Hello Vantage,

First of all thanks a lot for a very inspiring thread. I have learnt a lot reading your posts. I still have some 200 pages to read but I would already like to share with you my today's trade on GBP/USD.

Looking forward for your comments !
Welcome here.

Hey whats to say, apart from nice trade. Neg 1hr, 15 min rolled over lots of upper wicks, nice 5 min lh. Looks like you might have entered before 1 pip below set up candle but thats just me and apologies if I'm seeing chart wrong.

Love it!!

PS if you haven't seen thread in above post go there also, complimentary styles and a must read.
  • #4,160
  • May 20, 2011 3:27am May 20, 2011 3:27am
Ian this is just an example from this morning. 1hr neg close so rules say down. But we are in and around London open and 15 min red line on the Asian low 6212 (ie 15 psych level) and immediately starts showing candles that suggests a problem. Pos closes then hammers. The 5 min in turn does not give a valid lh candle for a sell also. So there was never a sell around that 6215 area.

There are 15 min turn candles at a SR area, at recent extreme + 15 psych level so a hl can be bought. I was not in front of computer or just not concentrating (not sure which) so not in on this move.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.gif Size: 19 KB
Click to Enlarge Name: 2.gif Size: 18 KB
Click to Enlarge Name: 3.gif Size: 17 KB
0 traders viewing now