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Higher low, lower high system

  • #4,501
  • Jul 28, 2011 2:42am Jul 28, 2011 2:42am
Quoting Vantage
At this stage eur, gu, ej and ec all have neg D closes. All have built bases after big US session drops. Asia as is often the case did not want to break those base levels.

EJ and ec appear better sells to me, D neg candles more in trend. Both eu and gu broke TL's to upside and have had reversal days, I don't see D chart divergence so don't know if this is a top.
Thanks for that analysis V, also noticed when you zoom out that GU is testing break of a TL drawn from May 2010 lows.

Attached Image (click to enlarge)
Click to Enlarge Name: gu_daily_sr.gif Size: 18 KB
Follow, don't anticipate.
  • #4,502
  • Jul 28, 2011 2:46am Jul 28, 2011 2:46am
Quoting Ian
Thanks for that analysis V, also noticed when you zoom out that GU is testing break of a TL drawn from May 2010 lows.

Attachment
Also 61.8 fib ret of fall from April highs.
Follow, don't anticipate.
  • #4,503
  • Jul 28, 2011 3:15am Jul 28, 2011 3:15am
Quoting Vantage
Thats where things can get debatable. Are there degrees of hammers? If the 15 min hesitation/counter trend candle appears weak, small inside bar, small 15-ish pip hammer then I'd be more into continuing to trade the 5 min hl/lh trend. Especially if up for the day.
Yes after a further look at that 15 min hammer away from the heat of the action I can see it was very small, couldn't break higher, couldn't even break above the close of the preceding 15 min candle. Not really anything to worry about, hardly worthy of the description "hammer" and the strong neg close of the 5 min bar taking out its low and in trend should have been given more weight.

Just need to get to this level of analysis in live action.
Follow, don't anticipate.
  • #4,504
  • Jul 28, 2011 6:19am Jul 28, 2011 6:19am
I wasn't in front of computer to take advantage of this. One of those where the analysis from D chart has been done, lh neg close in downtrend so focus is on sell.

Red line shows close of 1hr shooting star, 15 min shooting star. 5 min lh, little/no lower wick follows within 15 mins of 1hr close. Move up was the head fake so hopefully the run down will be looking for more than 20-25 pips.

Anyway I had a guest so no biggie, its just nice when the analysis plays out. There are of course days where the analysis doesn't play out and I miss trades waiting for my turnaround to happen.

EJ and eur had similar set ups.
Attached Image (click to enlarge)
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  • #4,505
  • Jul 28, 2011 6:46am Jul 28, 2011 6:46am
Quoting Vantage
I wasn't in front of computer to take advantage of this. One of those where the analysis from D chart has been done, lh neg close in downtrend so focus is on sell.

Red line shows close of 1hr shooting star, 15 min shooting star. 5 min lh, little/no lower wick follows within 15 mins of 1hr close. Move up was the head fake so hopefully the run down will be looking for more than 20-25 pips.

Anyway I had a guest so no biggie, its just nice when the analysis plays out. There are of course days where the analysis doesn't play out and I miss trades...
that was a great entry on the EJ.
i took the one on ECh around the same time posted on ev's thread here:

http://www.forexfactory.com/showthre...34#post4817334

pg
  • #4,506
  • Jul 28, 2011 6:49am Jul 28, 2011 6:49am
Quoting pgd
that was a great entry on the EJ.
i took the one on ECh around the same time posted on ev's thread here:

http://www.forexfactory.com/showthre...34#post4817334

pg
Isn't it just great when the HTF analysis and method combines in a perfect set up and wonderful move, nice one.
  • #4,507
  • Jul 28, 2011 6:56am Jul 28, 2011 6:56am
Quoting Vantage
I wasn't in front of computer to take advantage of this. One of those where the analysis from D chart has been done, lh neg close in downtrend so focus is on sell.

Red line shows close of 1hr shooting star, 15 min shooting star. 5 min lh, little/no lower wick follows within 15 mins of 1hr close. Move up was the head fake so hopefully the run down will be looking for more than 20-25 pips.

Anyway I had a guest so no biggie, its just nice when the analysis plays out. There are of course days where the analysis doesn't play out and I miss trades...
Just wondering if you would have taken entry at close of the 11.55 (FxPro) lh candle (your left arrow) or would you have wanted to see the ma's cross and day's open taken out.

I had other business to attend to this morning, unfortunately, and so missed all the trains.
Follow, don't anticipate.
  • #4,508
  • Jul 28, 2011 6:59am Jul 28, 2011 6:59am
Quoting Vantage
Isn't it just great when the HTF analysis and method combines in a perfect set up and wonderful move, nice one.
it sure is and more importantly, it brings you r/r ratios greater than 1:1, an absolute must for most trading systems, something that a lot of us learn the hard way.
  • #4,509
  • Jul 28, 2011 7:19am Jul 28, 2011 7:19am
Quoting Ian
Just wondering if you would have taken entry at close of the 11.55 (FxPro) lh candle (your left arrow) or would you have wanted to see the ma's cross and day's open taken out.

I had other business to attend to this morning, unfortunately, and so missed all the trains.
I think that with the HTF analysis done and my conviction that a move down is very high probability that I would have taken the candle at close of 1hr i.e. 11.55 fxpro time.
  • #4,510
  • Jul 28, 2011 7:23am Jul 28, 2011 7:23am
Quoting Vantage
I think that with the HTF analysis done and my conviction that a move down is very high probability that I would have taken the candle at close of 1hr i.e. 11.55 fxpro time.
Thanks.
Follow, don't anticipate.
  • #4,511
  • Edited 5:28pm Jul 28, 2011 4:54pm | Edited 5:28pm
Wow what a cool thread

HL, LH

Must go with supply and demand levels like butter go-on-a-roll

Delicious
  • #4,512
  • Jul 29, 2011 7:26am Jul 29, 2011 7:26am
see HnS on H4 triggered a few hours back. now retraced back to neckline near 6300 and yest's low.
looking for short.

any views?
  • #4,513
  • Jul 29, 2011 7:42am Jul 29, 2011 7:42am
Quoting pgd
see HnS on H4 triggered a few hours back. now retraced back to neckline near 6300 and yest's low.
looking for short.

any views?
News move have to wait and see how it settles.
  • #4,514
  • Jul 29, 2011 7:49am Jul 29, 2011 7:49am
US adv GDP 1.3 v expected 1.7 previous 1.9. $ taking a pounding.
  • #4,515
  • Jul 29, 2011 7:50am Jul 29, 2011 7:50am
Quoting frankkn
Wow what a cool thread

HL, LH

Must go with supply and demand levels like butter go-on-a-roll

Delicious
Welcome frankkn, chip in your ideas any time.
  • #4,516
  • Jul 29, 2011 7:50am Jul 29, 2011 7:50am
Quoting Vantage
News move have to wait and see how it settles.
u're right!

i hadn't looked at the news schedule.
it was hesitant on the downside.
then sped the other way.
  • #4,517
  • Jul 29, 2011 8:35am Jul 29, 2011 8:35am
EU 1hr up, 15 min up, 5 min hl above pivot/today's open.

Entry at 4339.
50% out at 4360 for +21, remainder out at 4368 for +29 at MR1/Y's POC combo.

Attached Image (click to enlarge)
Click to Enlarge Name: eu_20110729-m5.gif Size: 14 KB
Follow, don't anticipate.
  • #4,518
  • Jul 29, 2011 8:41am Jul 29, 2011 8:41am
Quoting Ian
EU 1hr up, 15 min up, 5 min hl above pivot/today's open.

Entry at 4339.
50% out at 4360 for +21, remainder out at 4368 for +29 at MR1/Y's POC combo.

Attachment
I preferred EU as a GU entry would have been trading into MR1/today's open/75 psych level but looks as if it would have been OK as it's just hit 1.6400
Follow, don't anticipate.
  • #4,519
  • Jul 29, 2011 8:46am Jul 29, 2011 8:46am
Quoting Ian
EU 1hr up, 15 min up, 5 min hl above pivot/today's open.

Entry at 4339.
50% out at 4360 for +21, remainder out at 4368 for +29 at MR1/Y's POC combo.

Attachment
Love it, there was a mirror trade on gu except there was more of a shooting star upper wick on 15 min. There was never a sign of gu going lower on 5 min.

I am done now I think for the week even though theres a decent chance we'll go to next SR level 6450-ish, twt. That'll mean a close at/near weeks high, could be positive week for gu next week, we'll see.
Attached Image (click to enlarge)
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  • #4,520
  • Jul 29, 2011 9:01am Jul 29, 2011 9:01am
Quoting Vantage
Love it, there was a mirror trade on gu except there was more of a shooting star upper wick on 15 min. There was never a sign of gu going lower on 5 min.

I am done now I think for the week even though theres a decent chance we'll go to next SR level 6450-ish, twt. That'll mean a close at/near weeks high, could be positive week for gu next week, we'll see.
Yes both worked out well, I just need to work on holding my trades for longer. Didn't want to take any chances on a Friday afternoon after what's been a stellar week.

Thanks and have a great w/e.
Follow, don't anticipate.
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