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Higher low, lower high system

  • #4,521
  • Jul 29, 2011 9:01am Jul 29, 2011 9:01am
Quoting Vantage

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.
Oh well so far a classic 85/15 trade, we have W R1 6167, M4, 25 level and POC at 6427.
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  • #4,522
  • Jul 29, 2011 9:04am Jul 29, 2011 9:04am
Quoting Ian
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.
Well done Ian, hey with whats going on in US any pips is good pips this week.
  • #4,523
  • Jul 29, 2011 9:10am Jul 29, 2011 9:10am
Quoting Vantage
Well done Ian, hey with whats going on in US any pips is good pips this week.
Cheers, just one last question for the week, did you prefer GU over EU for that last trade and if so why?
Follow, don't anticipate.
  • #4,524
  • Jul 29, 2011 9:18am Jul 29, 2011 9:18am
Quoting Ian
Cheers, just one last question for the week, did you prefer GU over EU for that last trade and if so why?
Ian partly the D candle for GU Y was a better suggestion of move up (took bad US news to make it move I agree), D above its 8 lwma/8 rsi 50 level. When I looked I called Mrs V in (in the kitchen getting the apple crumble going, mmmh now the tough choices this weekend apple crumble with custard or apple crumble with ice cream. What the heck I'm flexible!!) to have a look I had gu set up with no worries about that 15 min SS.
  • #4,525
  • Jul 29, 2011 9:25am Jul 29, 2011 9:25am
Quoting Ian
Cheers, just one last question for the week, did you prefer GU over EU for that last trade and if so why?
When the D chart is above/below 8 lwma/rsi 50 level it sets up some very nice trades when this follows through onto lower level charts.

Just for the heck of it I'm going to do some chart time on D chart as trend signal (above/below rsi 50 level) buy above sell below. Then using 5 min fozzy crosses and trading the crosses in line with above. It may help with 2b trades and hl/lh's we'll see. So if its buy day no sell crosses, will watch all buy crosses and try and filter failures with 15 min. Its a lot of work I'll see what chance I get this weekend. Big rugby match this weekend and we are out Sat afternoon evening for a braai (barbie for Aussie readers). Sunday we are attempting our first ribs braai, well ribs 5 mins each side on braai and then braise slowly for +- 2hrs in oven, should be falling off the bone. Liberally smothered with a decent sauce!!!

There'll always be exceptions such as strong reversal candles on D chart that doesn't break through 50 level, or D divergence signals. Its all part of the analysis of D chart action that I do but rarely post.

As I'm finished I'll even post some examples. There was a very good D chart analysis thread I'll have to find and start watching again.
  • #4,526
  • Jul 29, 2011 9:48am Jul 29, 2011 9:48am
It doesn't work everyday but if you've seen me say I have a pos/neg bias for the day, or I'm not interested in a certain direction I've prob done something like this.

I try and analyse D pa to give preferred direction.

Looking for clues for next days direction, its all very basic stuff:

 

  1. Prev D pos/neg closes, one day is likely to follow the next
  2. Is there a classic reversal candle or pattern (most definitely including hl/lh's)
  3. Is there little/no wick in direction of move
  4. Is there a proven SR level that has been adhered to
  5. Is there divergence
  6. And more recently brought back fozzy cross (used to watch that years ago, green rsi crossing its 8 sma)
  7. Are we above/below rsi 50/8 lwma

So on Y's candle when you have a pos close, little/no upper wick above rsi 50, fozzy confirms, hl above 8 lwma, well lets just say chances are pretty good for most buy opp's today. Opposite applies for sells.

Of course there are loads of exceptions the hammer at an extreme in price with good divergence even though we are below 50 level etc etc.

I thought of a thread to focus on D analysis but there is one and in any event I'll be taking trades on same basis as per post 1.

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  • #4,527
  • Jul 29, 2011 10:58am Jul 29, 2011 10:58am
Quoting Vantage
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.
Darn and I was at computer but pottering around with other things and not watching!!
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  • #4,528
  • Jul 29, 2011 11:05am Jul 29, 2011 11:05am
Quoting Vantage
I thought of a thread to focus on D analysis but there is one and in any event I'll be taking trades on same basis as per post 1.
This guy is pretty good as I recall
http://www.forexfactory.com/showthread.php?t=69786
  • #4,529
  • Jul 29, 2011 11:09am Jul 29, 2011 11:09am
Thanks for all that information, that's my weekend sorted out then.
Follow, don't anticipate.
  • #4,530
  • Jul 29, 2011 11:17am Jul 29, 2011 11:17am
Quoting Ian
Thanks for all that information, that's my weekend sorted out then.
Hi Ian
You are doing so well I don't want you be diverted from that. I could easily be stuffing an easy issue up. Of course looking at the D charts is just trying to get the best option to trade.

The page one trades follow the 1hr, are we above/below the 1hr 8 lwma take 5 min hl/lh's still good as gold, as you well know!!
  • #4,531
  • Edited 3:20am Aug 1, 2011 2:43am | Edited 3:20am
EJ 61.8 fib ret of move down from highs of 22 Jul. Daily below 50 rsi still.

1 hr large upper wick bounce off R2/111.94 daily SR level, 15 min neg close followed by SS, 5 min lh no lower wick; entry at 111.80.

Slight hesitation at MR2 then 50% out at 111.60 for +20, stop at BE on remainder.

edit: remainder out at BE+1

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Follow, don't anticipate.
  • #4,532
  • Aug 1, 2011 3:19am Aug 1, 2011 3:19am
Quoting Vantage
It doesn't work everyday but if you've seen me say I have a pos/neg bias for the day, or I'm not interested in a certain direction I've prob done something like this.

I try and analyse D pa to give preferred direction.

Looking for clues for next days direction, its all very basic stuff:
[list][*]Prev D pos/neg closes, one day is likely to follow the next[*]Is there a classic reversal candle or pattern (most definitely including hl/lh's)[*]Is there little/no wick in direction of move[*]Is there a proven SR level that has been adhered to[*]Is...
Quoting Vantage
Hi Ian
...Of course looking at the D charts is just trying to get the best option to trade.

The page one trades follow the 1hr, are we above/below the 1hr 8 lwma take 5 min hl/lh's still good as gold, as you well know!!
Good morning V, thanks again for all that extra information. All basic stuff as you say but extremely valuable to me as it gives me more insight into the way you plan your day's trading and how you view the charts. That checklist has been copied and pasted now.

Hope you had a good w/e and all refreshments were up to standard.
Follow, don't anticipate.
  • #4,533
  • Aug 1, 2011 8:38am Aug 1, 2011 8:38am
Quoting Ian
EJ 61.8 fib ret of move down from highs of 22 Jul. Daily below 50 rsi still.

1 hr large upper wick bounce off R2/111.94 daily SR level, 15 min neg close followed by SS, 5 min lh no lower wick; entry at 111.80.

Slight hesitation at MR2 then 50% out at 111.60 for +20, stop at BE on remainder.

edit: remainder out at BE+1

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I hope you stuck around Ian. We have had 6 trades between ej and ec. Fri were down candles for both and the Asian reaction to news of likely resolve of US debt crisis sent them up big time. Took a little while for the 4hrs to fall back into line.

I haven't even bothered to show the trades as you could chuck a dart at these and sell wherever the thing hits.

With US news coming we have finished for now.
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  • #4,534
  • Aug 1, 2011 9:28am Aug 1, 2011 9:28am
Quoting Vantage
I hope you stuck around Ian. We have had 6 trades between ej and ec. Fri were down candles for both and the Asian reaction to news of likely resolve of US debt crisis sent them up big time. Took a little while for the 4hrs to fall back into line.

I haven't even bothered to show the trades as you could chuck a dart at these and sell wherever the thing hits.

With US news coming we have finished for now.
Very nice Vantage. I'll take a look at all those possible trades later.

I haven't been able to watch charts the whole day but did manage a second EJ sell around the pivot for +20.

Shame that my BE stop got nicked on that first trade, sometimes that strategy will work and sometimes it won't.
Follow, don't anticipate.
  • #4,535
  • Aug 1, 2011 3:55pm Aug 1, 2011 3:55pm
Quoting frankkn
Wow what a cool thread

HL, LH

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

Delicious
As I suspected

Beautiful entry method, graceful and elegant

Another sharp tool for the trading kit

I enter using PA at supply and demand zones, and filter which zones I look for entries depending on my longer TF supply/demand analysis. This method of entry truly speaks to me and I'm very glad you've posted it. I'll post a chart if it's ok even though it's not your system?
  • #4,536
  • Edited 5:39pm Aug 1, 2011 5:14pm | Edited 5:39pm
Quoting Vantage
I hope you stuck around Ian. We have had 6 trades between ej and ec. Fri were down candles for both and the Asian reaction to news of likely resolve of US debt crisis sent them up big time. Took a little while for the 4hrs to fall back into line.

I haven't even bothered to show the trades as you could chuck a dart at these and sell wherever the thing hits.

With US news coming we have finished for now.
Hi Vantage, Just been through the 5min EJ and EC charts for today and I counted 5 system entries on EJ and 4 on EC. Only one failed to make +20 before retracing. No untightened stops would have been touched.

Also EC 4 hour turned around right at daily support, as posted last Wednesday, showing a nice rejection of the level.

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Follow, don't anticipate.
  • #4,537
  • Aug 1, 2011 5:21pm Aug 1, 2011 5:21pm
EJ and EC system entries. There may be one or two others that I've missed but I think these were the best ones.

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Follow, don't anticipate.
  • #4,538
  • Aug 2, 2011 3:06am Aug 2, 2011 3:06am
Quoting frankkn
As I suspected

Beautiful entry method, graceful and elegant

Another sharp tool for the trading kit

I enter using PA at supply and demand zones, and filter which zones I look for entries depending on my longer TF supply/demand analysis. This method of entry truly speaks to me and I'm very glad you've posted it. I'll post a chart if it's ok even though it's not your system?
Hi frankkn
Whilst I've never worried about the set up (1hr, 4hr, macd, divergence etc etc) we do try and keep the entries based on the thread ie hl/lh's, 2b's and here and there might stretch to a flag (but its amazing how many of those have a hl/lh right at the end) or a morning/evening star pattern.

I hope you'll be able to post a few of these, cheers.
  • #4,539
  • Aug 2, 2011 3:08am Aug 2, 2011 3:08am
Quoting Ian
EJ and EC system entries. There may be one or two others that I've missed but I think these were the best ones.

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Plus a nice ej sell in middle of chart around 111.45.
  • #4,540
  • Aug 2, 2011 3:12am Aug 2, 2011 3:12am
Quoting Vantage
Plus a nice ej sell in middle of chart around 111.45.
Oops, thanks, missed that one, taking out the low of the 1hr pos close bar.
Follow, don't anticipate.
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