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Higher low, lower high system

  • #4,221
  • Edited 11:57am Jun 9, 2011 11:37am | Edited 11:57am
Quoting Vantage
Sorry been tied up for the day moving my 80 year old mother in law in, knackered. I'm on my 3rd computer since those days and will get for you.
Hi pg
See here for the indi's and how to use. http://www.forexfactory.com/showthread.php?t=234062
  • #4,222
  • Jun 9, 2011 11:46am Jun 9, 2011 11:46am
Quoting bparks
Hi Vantage,
I've read entire thread now and have a couple of questions, if you don't mind.
1. For your system trades, does the hourly need to be above 8 lwma to consider longs.
2. Have your results been acceptable during New York A.M. session. I am only available to trade 0800 to 1200 EST.
Both of these comply with rules. GU 1hr does have a lower wick but what was the reaction. 5 min lh little/no lower wick great angle on ma's, would prob have waited a pip or two for the 1hr/15 min candle low to get taken out.

EUR was no problem at all, great 1hr close, 15 min neg closes all the way. 5 min lh little/no lower wick.
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  • #4,223
  • Jun 9, 2011 11:48am Jun 9, 2011 11:48am
OK its dinner time here, I'm officially feeling like a stunned mullet after a long day.
  • #4,224
  • Jun 9, 2011 11:55am Jun 9, 2011 11:55am
Quoting Vantage
OK its dinner time here, I'm officially feeling like a stunned mullet after a long day.
Aha last comment. Theres a 4hr thread here at FF that intrigues me no end. I'm sure it will help me with my trading. This 4hr method gives same entry in the above eur chart but we use 15 pip stops or whatever instead of the 60-70 pip stop the 4 hr method needs. So using the same MM the 30 pip trade above on eur would need a 120 pip move on 4hr method to get the same % ROI.

Not knocking that 4hr thread like I said I like it a lot.
  • #4,225
  • Jun 9, 2011 12:47pm Jun 9, 2011 12:47pm
Quoting Vantage
Hi pg
If you have a lower high as in this case when the 15 min closes and its the last 15 min candle in an hourly close that's fine its a trade. We have lots of them.

3 bar mini top is fine, hl/lh and double tops/bottoms all good. If I've got doubts I'll wait for 15 min to close. If it runs and I miss trade tough luck. In this case the double top and neg close 5 min candle took out the low of the 15 min small hammer so I might not have waited for the 15 min to close.
Thanks, Vantage.

I'm still not quite clear about this. can you please look at the attached diagram and respond to the query there?

Thanks.
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  • #4,226
  • Jun 9, 2011 12:49pm Jun 9, 2011 12:49pm
Quoting Vantage
Aha last comment. Theres a 4hr thread here at FF that intrigues me no end. I'm sure it will help me with my trading. This 4hr method gives same entry in the above eur chart but we use 15 pip stops or whatever instead of the 60-70 pip stop the 4 hr method needs. So using the same MM the 30 pip trade above on eur would need a 120 pip move on 4hr method to get the same % ROI.

Not knocking that 4hr thread like I said I like it a lot.
what's the link to that thread?

thanks.
  • #4,227
  • Jun 9, 2011 1:20pm Jun 9, 2011 1:20pm
Thanks for the helpful replies V.

I get a little confused on when the HL/LH is actually confirmed. For instance, on the 5m chart you posted, if the candle before your arrow would have had a large upper tail (shooting star), would you have entered earlier in that case (as long as the 1h and 15m lined up of course)?
Attached Image
  • #4,228
  • Jun 10, 2011 1:03am Jun 10, 2011 1:03am
Quoting pgd
Thanks, Vantage.

I'm still not quite clear about this. can you please look at the attached diagram and respond to the query there?

Thanks.
On the right sorry forgot to mention yesterday.
  • #4,229
  • Jun 10, 2011 1:04am Jun 10, 2011 1:04am
Quoting pgd
what's the link to that thread?

thanks.
Here you go http://www.forexfactory.com/showthread.php?t=291622
  • #4,230
  • Jun 10, 2011 1:11am Jun 10, 2011 1:11am
Quoting bparks
Thanks for the helpful replies V.

I get a little confused on when the HL/LH is actually confirmed. For instance, on the 5m chart you posted, if the candle before your arrow would have had a large upper tail (shooting star), would you have entered earlier in that case (as long as the 1h and 15m lined up of course)?
Hi bparks
There are 2 potential entries. The aggressive when 1 hr and 15 min are lining up is the close of the 1st red candle below your arrow at the red pivot line. If the 15 min was not lining up the entry would be below the 2nd red candle at the last swing low.

If you do a google search on 1 2 3 patterns you'll see the conservative entry as the break of the 2 point. A search for trader trick entry will show the more aggressive entry. In fact I think the author of traders trick entry has a thread here Joe Ross. Sorry had computer melt down and some of my old stuff is gone.
  • #4,231
  • Jun 10, 2011 1:21am Jun 10, 2011 1:21am
Quoting Vantage
Hi bparks
There are 2 potential entries. The aggressive when 1 hr and 15 min are lining up is the close of the 1st red candle below your arrow at the red pivot line. If the 15 min was not lining up the entry would be below the 2nd red candle at the last swing low.

If you do a google search on 1 2 3 patterns you'll see the conservative entry as the break of the 2 point. A search for trader trick entry will show the more aggressive entry. In fact I think the author of traders trick entry has a thread here Joe Ross. Sorry had computer melt down and...
Here we go.
Attached File(s)
File Type: pdf Traders_Trick_Entry.pdf   139 KB | 1,198 downloads
  • #4,232
  • Jun 10, 2011 1:29am Jun 10, 2011 1:29am
Quoting Vantage
Hi bparks
If you do a google search on 1 2 3 patterns you'll see the conservative entry as the break of the 2 point. A search for trader trick entry will show the more aggressive entry. In fact I think the author of traders trick entry has a thread here Joe Ross. Sorry had computer melt down and some of my old stuff is gone.

Hey Vantage,
How you doing?

I was surprised to see u mention Traders trick entry as i was upoading law of 'law of charts' for another reader a few mins. ago.
Traders trick entry is mentioned on page 15.

http://www.forexfactory.com/showthre...94#post4680194

Happy trading..
Hello to Mrs. V..

p.s. rofl.. u beat me to it..lolz
  • #4,233
  • Jun 10, 2011 1:37am Jun 10, 2011 1:37am
Quoting King Singh
Hey Vantage,
How you doing?

I was surprised to see u mention Traders trick entry as i was upoading law of 'law of charts' for another reader a few mins. ago.
Traders trick entry is mentioned on page 15.

http://www.forexfactory.com/showthre...94#post4680194

Happy trading..
Hello to Mrs. V..

p.s. rofl.. u beat me to it..lolz
Thanks King, all well here. Mrs V's mum's 1st morning with us!!

A quick look at a 4hr for eur, ej, gu will show all are at key SR levels. I'll just show gu.

A quick look at the synergy candles should give a quick visual clue as to where I may be going.
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  • #4,234
  • Jun 10, 2011 1:49am Jun 10, 2011 1:49am
Vantage,

the attached M5 chart has 5 LH's presenting slightly different nuances.
M15 and H1 candles are visible in the background.

LH's are numbered 1 to 5.
entry bars in question are marked with a yellow down arrow.
entry levels in question are marked with a yellow dash.

H1 bar referenced for LH 1. is marked 1.H and so on.
M15 bar referenced for LH 1. based on entry bar is marked 1.15 and so on.

Note:
I notice that though quite often the reference bars work out the same irrespective of whether referenced from the bar that actually contains the LH or the following entry bar that confirms the LH. But, at times they work out different. LH 1. below is an example.
I have made H1 and M15 bar references from the ENTRY bars i.e the bars that follow the LH and actually confirm the LH's.
QUESTION: Is this correct? ______________________

kindly comment on my conclusion, entry bars, entry levels in each case and add other comments as applicable e.g. on wicks, etc. in the line captioned "Vantage's Comment : _____" provided at the bottom of each point.

This is my understanding:

LH 1.

1.H closed down -- ok
1.15 closed up -- not ok
conclusion: LH1 does not provide a valid system entry.
Note:
If reference is taken from the bar that contains the LH rather than the entry bar, the M15 bar to be referenced would shift 1 bar to the left (in this particular case) which closed down. In that case, LH1 would provide a valid system entry.

Vantage's Comment: _____________

LH 2.

2.H closed down -- ok
2.15 closed down -- ok
conclusion: LH2 provides a system entry.

Vantage's Comment: _____________

LH 3.

3.H closed down -- ok
3.15 closed up -- not ok
conclusion: LH2 does not provide a system entry.

Vantage's Comment: _____________

LH 4.

4.H closed down -- ok
4.15 closed down -- ok
conclusion: LH4 provides a system entry.

Vantage's Comment: _____________

LH 5.

5.H closed down -- ok
5.15 closed down -- ok
conclusion: LH5 provides a system entry.

Vantage's Comment: _____________

Thanks.

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  • #4,235
  • Jun 10, 2011 2:32am Jun 10, 2011 2:32am
Quoting pgd
Vantage,

the attached M5 chart has 5 LH's presenting slightly different nuances.
M15 and H1 candles are visible in the background.



...
Will need a little time.
  • #4,236
  • Jun 10, 2011 2:46am Jun 10, 2011 2:46am
Hi Boet.

Good to see you are still going strong.

  • #4,237
  • Edited 3:19am Jun 10, 2011 2:55am | Edited 3:19am
Quoting Vantage
Will need a little time.
sure.

that thumbnail looks a bit cramped but when you click on it and the image enlarges, it gets quite clear.
  • #4,238
  • Edited 4:43am Jun 10, 2011 3:32am | Edited 4:43am
Quoting matlobien
Hi Boet.

Good to see you are still going strong.

Cheers mate, going better than the Bulls but at least they are having a decent run to end of Super 15!!

As you'll see from above 4hr chart gu broke through the SR area. There was a nice trade on lower high move through 6300. Previously we would not have taken this but I am being influenced by 4hr charts as posted above.

Anyway 15 min did have a hammer after a positive close but no follow through. We then had an evening star pattern (see candlesticker link on my blog) below the 4 hr SR area at 6280. With a trade in the bank and 5 day ATR exceeded Mrs V requested we bank +30 we we have done.

A good morning so its solid set ups from here on in, if we don't trade further thats also fine. Oh just saw it looks like some stops must have got triggered with a 30 pip fall in about a second but the big jump shows buyers there. Wouldn't have benefited by staying in it all happened so quick.
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  • #4,239
  • Jun 10, 2011 4:29am Jun 10, 2011 4:29am
Answers in bold, hope it helps.

the attached M5 chart has 5 LH's presenting slightly different nuances.
M15 and H1 candles are visible in the background.

LH's are numbered 1 to 5.
entry bars in question are marked with a yellow down arrow.
entry levels in question are marked with a yellow dash.

H1 bar referenced for LH 1. is marked 1.H and so on.
M15 bar referenced for LH 1. based on entry bar is marked 1.15 and so on.

Note:
I notice that though quite often the reference bars work out the same irrespective of whether referenced from the bar that actually contains the LH or the following entry bar that confirms the LH. But, at times they work out different. LH 1. below is an example.
I have made H1 and M15 bar references from the ENTRY bars i.e the bars that follow the LH and actually confirm the LH's.
QUESTION: Is this correct? I'll be quite honest here and am not sure exactly what you mean with reference bars but I'll try and answer as best I can. So I don't want to guess and not fully understanding what you are wanting to answer this one.

kindly comment on my conclusion, entry bars, entry levels in each case and add other comments as applicable e.g. on wicks, etc. in the line captioned "Vantage's Comment : _____" provided at the bottom of each point.

This is my understanding:

LH 1.

1.H closed down -- ok
1.15 closed up -- not ok
conclusion: LH1 does not provide a valid system entry.
Note:
If reference is taken from the bar that contains the LH rather than the entry bar, the M15 bar to be referenced would shift 1 bar to the left (in this particular case) which closed down. In that case, LH1 would provide a valid system entry.

Vantage's Comment: I wouldn't regard this as a trade. The 15 min up candle is a very large positive close, although it did fail trying to go through SR area 116.55 I don't think I'm good/brave enough to take that one as a 1st trade in a move.

LH 2.

2.H closed down -- ok
2.15 closed down -- ok
conclusion: LH2 provides a system entry.

Vantage's Comment: Yes 100% and takes away any doubts from set up 1 above as 15 min has now also flipped over.

LH 3.

3.H closed down -- ok
3.15 closed up -- not ok
conclusion: LH2 does not provide a system entry.

Vantage's Comment: Agreed 15 min has had a hammer and then a positive close so no trade, not at the yellow line as you show.

IF I was up nicely in run I might have taken a trade on the close of candle below yellow line you show in your chart as this has taken out low of 15 min candle. BUT not being sure of volume at that time of late Asian session that would have been tough, if you are going to stretch rules better be happy of trend and its potential to follow through. The up side would be IF trade was taken stop just above last swing high should have held.

LH 4.

4.H closed down -- ok
4.15 closed down -- ok
conclusion: LH4 provides a system entry.

Vantage's Comment: Agreed and its a nice solid 5 min that breaks that quiet range.

LH 5.

5.H closed down -- ok
5.15 closed down -- ok
conclusion: LH5 provides a system entry.

Vantage's Comment: Agreed.

Thanks.

Pleasure. Just wanted to add that in this sequence of 5 that you show I have 4 potential trades. Taking the 1 doubtful 1 (trade 3) as a loss to avoid the idea of cherry picking and 3 winning entries.
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  • #4,240
  • Jun 10, 2011 4:41am Jun 10, 2011 4:41am
Quoting Vantage
Welcome.

I have been trading US session more and more of late and results are still good.

I use 8 lwma as it gives a good, simple idea of short term trend as the charts show. If you have good candles that show a reversal thats a trade even if 8 lwma hasn't yet lined up. This happened this morning on GU in UK session where a long wick (at the high from the 7th and high vol POC line at 6463) was followed by a large wick doji. Good candles, supp/res areas trumps all.
.........

I hope this clarifies.
Hi V,
How have Mrs V and you been doing? Wishing good health to everyone here.

May I ask,
1. What's thiese 'POC' lines? Are they being pivots associate with volumes?
where could I get it?

2. How do you utilise 21sma in 5min tf?

Cheers, mate!
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