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Higher low, lower high system

  • #4,581
  • Aug 9, 2011 4:28am Aug 9, 2011 4:28am
Quoting Delite
Ian and V

Thanks. That is a really useful observation.

Just out of interest have you looked at trading gold or crude using your system trades? It looks as if it will work well, and may give a useful alternative for days when forex is sideways.

Also, V - I saw on your blog that you are trading London close. How is that working out for you?
No losing trades at all. Haven't traded it since start of Tour de France which I watch avidly. Then with recent out of ordinary moves last few weeks haven't looked. As soon as markets calm down to some normality will look at it again.
  • #4,582
  • Aug 9, 2011 4:31am Aug 9, 2011 4:31am
Quoting Delite

Just out of interest have you looked at trading gold or crude using your system trades? It looks as if it will work well, and may give a useful alternative for days when forex is sideways.
I should really look at gold, basically it also seems to be a strong trend at the moment. Eurchf has been good enough though.

I still have at back of mind to look to trade currencies that are trending the best eg if you see a D neg close lh in a downtrend selling the next day will be a very high prob trade.
  • #4,583
  • Aug 9, 2011 5:10am Aug 9, 2011 5:10am
Quoting Vantage
With eur and gu all over the place still favour eurchf.

Left red line shows the neg 1hr close and arrow down the lh, as per Ian's post. Right red line shows the 4hr shooting star close little/no lower wick. 5 min lh closed right on the 1hr/4hr candle closes.

Much prefer focus there as eur and gu at the moment seems finding a trade is forcing things a little.
Yeah great chart,,.. Point taken.. THKS
  • #4,584
  • Aug 9, 2011 9:05am Aug 9, 2011 9:05am
Had a choice between this gu lh and an evening star pattern on eurchf. Couldn't get into ec as it flew down so missed out on this gu also which happened at the same time.
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  • #4,585
  • Aug 9, 2011 3:39pm Aug 9, 2011 3:39pm
Just checking out yr first post.. U and your Missus .. just a cpl of kids??

I got that Cable trade same and also a bit hier.. also got CHFJY long.. but lost again on EUUD.. your comment dont force or somthing like that.. THATS my biggest problem.. i bdy well do over and over agqain.. DUhhh
  • #4,586
  • Aug 10, 2011 1:41am Aug 10, 2011 1:41am
Quoting danc
Just checking out yr first post.. U and your Missus .. just a cpl of kids??

I got that Cable trade same and also a bit hier.. also got CHFJY long.. but lost again on EUUD.. your comment dont force or somthing like that.. THATS my biggest problem.. i bdy well do over and over agqain.. DUhhh
Hi danc
Yes thats the mental age I got stuck in, thats prob about 25 years ago now when we were 25-ish.

The problem of forcing trades is prob the biggest problem most traders face, I know I certainly did. Have a look at gu yesterday, there were buy trades when 1hr was headed up and its 8 lwma angled up. Its no coincidence that the best sell trades happened when 1hr flipped over.
  • #4,587
  • Aug 10, 2011 1:52am Aug 10, 2011 1:52am
Quoting Vantage
Hi danc
Yes thats the mental age I got stuck in, thats prob about 25 years ago now when we were 25-ish.

The problem of forcing trades is prob the biggest problem most traders face, I know I certainly did. Have a look at gu yesterday, there were buy trades when 1hr was headed up and its 8 lwma angled up. Its no coincidence that the best sell trades happened when 1hr flipped over.
Forgot to mention but its something anyone trading with a small stop needs to be aware of. Enter at the wrong times on the fly and you can lose money even in the strongest of trends. Wait till your candles/patterns line up with the trend. Don't worry about missed moves focus on the solid opportunities you get most days.
  • #4,588
  • Aug 10, 2011 9:01am Aug 10, 2011 9:01am
These were the best 2 set ups of the afternoon for me.

Red lines show the close of the 1hr engulfing candles. Then pretty much picture perfect 5 min lh's. It was very hard to argue with those ej ema's.

I considered entry again trades below 4225, or 108.75 but thought stuff it whilst they may go (a lot) lower they are both on SR levels. So think we are done for the day.
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  • #4,589
  • Aug 10, 2011 11:46am Aug 10, 2011 11:46am
Just finished the home made Mexicana pizzas. Mrs V well and truely sick and it looks like I'm going the same way. Might try for London session tomorrow, if not the US session which has in any event been the major mover lately. If not then will be trying to sleep this bug off.
  • #4,590
  • Aug 10, 2011 11:56am Aug 10, 2011 11:56am
Haven't been showing many 1hr charts and I got a pm on it yesterday so just thought I'd show these quickly. All very basic trading stuff.

Eur dble top, engulfing neg close below 8 lwma.

Ej 1hr engulfing neg close, confirming the prev lower high, good angle down on 8 lwma.

The 5 min charts above show the lh entries.

Mrs V will be watching Australian masterchef and I have to make my abf coffee (absolutely bloody final, normally associated with something a little more alcoholic).
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  • #4,591
  • Aug 10, 2011 6:23pm Aug 10, 2011 6:23pm
Great stuff Vantage...1 hr and then clear 5 min enter.. point..u should condense all this stuff up and sell as a trade manual.. its as clear as..THANKS..
  • #4,592
  • Aug 10, 2011 9:59pm Aug 10, 2011 9:59pm
Traded this tismorning Aussie time for an 18 and 19.. note 2 lines on chart A.. is weekly pivot and B.. is daily PPX..took trades as they broke above these points .. Was also watching live 10m chart of DXY..to give me confidence in direction....also NOTE... important.. see pin bar on weekly Pivot line..well nsame pin was on DXY going the other way.... just another confirming factor... also got a 32 out of CHF JY.. abt 3 hrs ago..on EU was also watching 1 hr chart as per Vantage..tips..Also note have long possie in euud,, at 4222.. stop is at 4215 just below day pivot..so now trading above weekly and daily .. should give some more up side..
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  • #4,593
  • Aug 10, 2011 10:08pm Aug 10, 2011 10:08pm
Just closed out of last trade .. minus 7be back this arvo 4 ish .. Euro open..
  • #4,594
  • Edited 2:02am Aug 11, 2011 1:48am | Edited 2:02am
Vantage, others,

did anyone take these easy 50 pips?
it had moved 10-12 pips when i saw it so i let it go.

5m hl hammer and solid close.
15m solid close.
1h doji.

i wouldn't think long these days on this pair but since it's pretty extended on the d1 chart, i was looking for ~40 pips from a well signaled ctt.
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  • #4,595
  • Aug 11, 2011 7:02am Aug 11, 2011 7:02am
traded this twice on way down .. as per break of trend lines and w8..5and 34 Expodential.. tally of 58..good day for me total 165++--Minus.. 30.. EU UD looks a lot lower to me ..thinking 4073/26.. ish..thats using Fibo pivot projections.. with weekly data..
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  • #4,596
  • Aug 11, 2011 7:50am Aug 11, 2011 7:50am
Just got it again for another 24.. Note trend line..note W 8 and ex 5 and way they part as it starts to trend..
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  • #4,597
  • Aug 11, 2011 9:08am Aug 11, 2011 9:08am
chf showing weakness across the board.
in eurchf i see 50 % retrace on 3 weeks down move in just 2 days!

anything in the news that i have missed?
  • #4,598
  • Aug 11, 2011 9:19am Aug 11, 2011 9:19am
Quoting pgd
chf showing weakness across the board.
in eurchf i see 50 % retrace on 3 weeks down move in just 2 days!

anything in the news that i have missed?
This article is quite interesting....

http://www.bloomberg.com/news/2011-0...-be-legal.html
Follow, don't anticipate.
  • #4,599
  • Aug 11, 2011 10:25am Aug 11, 2011 10:25am
Quoting Ian
This article is quite interesting....

http://www.bloomberg.com/news/2011-0...-be-legal.html
thanks, Ian.

how do you manage to lay your hands on these reports at the right time?
do you subscribe to bloomberg and other news alerts?
  • #4,600
  • Aug 11, 2011 10:33am Aug 11, 2011 10:33am
Quoting pgd
thanks, Ian.

how do you manage to lay your hands on these reports at the right time?
do you subscribe to bloomberg and other news alerts?
Here's my secret source..

http://www.forexfactory.com/news.php
Follow, don't anticipate.
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