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Higher low, lower high system

  • #4,641
  • Aug 18, 2011 4:11am Aug 18, 2011 4:11am
Quoting Ian
EU 15 min 2 shooting stars rejection of 4450 level/POC/Asian resistance level (green line), 5 min lh no lower wick, entry at 4429.

All out +22 at 4407 Asian overnight s/r level/double POC combo.

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Very nice Ian, I like that one.
  • #4,642
  • Aug 18, 2011 4:14am Aug 18, 2011 4:14am
Quoting danc
Failing now.. off 4400 and daily pivot
The early LO sessions have been particularly poor for last couple of weeks, I cannot recall the last trade I did at this time.
  • #4,643
  • Aug 18, 2011 4:16am Aug 18, 2011 4:16am
Quoting Vantage
Very nice Ian, I like that one.
Thanks, I've just been reading your blog about the head fakes, very useful info..
Follow, don't anticipate.
  • #4,644
  • Aug 18, 2011 4:24am Aug 18, 2011 4:24am
Well done Ian.. GREAT.... Pleased to hear u say it V... I thought it may have been me..
  • #4,645
  • Aug 18, 2011 4:30am Aug 18, 2011 4:30am
Quoting danc
Well done Ian.. GREAT.... Pleased to hear u say it V... I thought it may have been me..
EJ was a similar setup. 15 min SS off Asian highs, 5 min lh, also has gone to Asian support level (green line). It triggered at same time as EU so I didn't take it.

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Follow, don't anticipate.
  • #4,646
  • Aug 18, 2011 4:45am Aug 18, 2011 4:45am
Quoting Ian
EJ was a similar setup. 15 min SS off Asian highs, 5 min lh, also has gone to Asian support level (green line). It triggered at same time as EU so I didn't take it.

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Yeah very clear thanks....I managed to get abt 12 points out of it.. just watching now to see if it does it again.. at the 4400 level..
  • #4,647
  • Aug 18, 2011 5:51am Aug 18, 2011 5:51am
Just got that one Ian.. in and ot 2wice fo 30.. will wait see if it comes off a bit and try for another..
  • #4,648
  • Aug 18, 2011 6:04am Aug 18, 2011 6:04am
I've spoken about this a few times before but this one is another good example. For some reason pre US open there are also these head fake moves. Seems to be a hl, arrow up, that fails and ends up a 2b type sell back into trend.

I think this usually signals that US session follows London trend.

Don't ask me how you tell the diff between a counter trend hl that you don't take and the 2b that you do, as offhand I can't. I am very careful though pre US open.

What I would say is that if you get stopped out on the hl, look to see if its a forming a 2b type trade and be prepared to go with trend (post LO head fake).
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  • #4,649
  • Aug 18, 2011 6:35am Aug 18, 2011 6:35am
30 min to US ..Open..and it looks to me on the 5 and 15mm its looking to run lower again..Thanks for the comment Vantage.. perfect situation would be if it dances around for the next 30 min before making its break..
  • #4,650
  • Aug 18, 2011 6:38am Aug 18, 2011 6:38am
Quoting danc
30 min to US ..Open..and it looks to me on the 5 and 15mm its looking to run lower again..Thanks for the comment Vantage.. perfect situation would be if it dances around for the next 30 min before making its break..
15 min hammer then a neg close, so I took chance on this small 5 min SS little/no lower wick. BE or break lower twt.

BE it is. Not prepared to give back gains.
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  • #4,651
  • Aug 18, 2011 6:39am Aug 18, 2011 6:39am
Looks to me like this 4 hr bar should close under 4400 level.. which would indicate lower ground.. just my opn of course..check the diversion on the chart against the fozzy..
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  • #4,652
  • Aug 18, 2011 6:43am Aug 18, 2011 6:43am
Quoting danc
Looks to me like this 4 hr bar should close under 4400 level.. which would indicate lower ground.. just my opn of course..check the diversion on the chart against the fozzy..

Great divergence but there are wicks at 4350 and the previous move below to 4325 had a strong bounce. The lack of a big reaction here does suggest lower of course, I just didn't want to risk a bigger bounce eating into today's trades.

Of course what I should have done is exit 2/3 at +10 or so and left small stop on balance. Shoulda, woulda coulda.
  • #4,653
  • Aug 18, 2011 7:03am Aug 18, 2011 7:03am
Quoting danc
Looks to me like this 4 hr bar should close under 4400 level.. which would indicate lower ground.. just my opn of course..check the diversion on the chart against the fozzy..
Yes, my FxPro 4 hr still has 1 hour to run. We are bouncing off downward sloping broken daily trendline atm.

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Follow, don't anticipate.
  • #4,654
  • Aug 18, 2011 7:08am Aug 18, 2011 7:08am
Quoting Ian
Yes, my FxPro 4 hr still has 1 hour to run. We are bouncing off downward sloping broken daily trendline atm.

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There is another upper tl thats showing a failed move higher. Looks like with news in 20 mins even if we do break lower I'll give it a miss.
  • #4,655
  • Aug 18, 2011 7:12am Aug 18, 2011 7:12am
Quoting Ian
Yes, my FxPro 4 hr still has 1 hour to run. We are bouncing off downward sloping broken daily trendline atm.

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What chart program are u using Ian.. and is it a New York close..if so i will down load it..I am watching a live 5 min DXY..there are 15 very tight bars below resistance which should .. if it breaks hier should go off like a spring and so give some shorts on the EU..I would post the chart but dont know how..Just the reverse ov the EU 5 min..
  • #4,656
  • Aug 18, 2011 7:14am Aug 18, 2011 7:14am
Quoting Vantage
There is another upper tl thats showing a failed move higher. Looks like with news in 20 mins even if we do break lower I'll give it a miss.
Yes, seen thanks. Daily still looking indecisive. I'm done for today now.
Follow, don't anticipate.
  • #4,657
  • Aug 18, 2011 7:24am Aug 18, 2011 7:24am
Quoting Vantage
Great divergence but there are wicks at 4350 and the previous move below to 4325 had a strong bounce. The lack of a big reaction here does suggest lower of course, I just didn't want to risk a bigger bounce eating into today's trades.

Of course what I should have done is exit 2/3 at +10 or so and left small stop on balance. Shoulda, woulda coulda.
V do u see the wicks as likey to cause serious resistance..???.. I assume thats what u mean.. MM i didnt know.. that.. have to put that in my tool bag..

I am getting a bit tired.. another 20 m nothing happens i am in bed..
  • #4,658
  • Aug 18, 2011 7:58am Aug 18, 2011 7:58am
Quoting danc
V do u see the wicks as likey to cause serious resistance..???.. I assume thats what u mean.. MM i didnt know.. that.. have to put that in my tool bag..

I am getting a bit tired.. another 20 m nothing happens i am in bed..
On the 1 hand you have wicks going back a couple of days so that is a definite problem area 4350. On the other you have a very small reaction here, Y the move up was very strong, this move up isn't. So I still think as of now we are headed lower and market just needed a bit of a pause to do it. Of course I could be wrong ................

Just hate being in between big US news events.
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  • #4,659
  • Aug 18, 2011 8:01am Aug 18, 2011 8:01am
Just to compare Y's reaction and today's.
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  • #4,660
  • Aug 18, 2011 8:38am Aug 18, 2011 8:38am
As much as I thought this would happen, see above posts, I'm not in it.
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