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Higher low, lower high system

  • #4,661
  • Aug 18, 2011 4:54pm Aug 18, 2011 4:54pm
Quoting danc
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..
Dan, it's just an mt4 demo using FxPro as broker. Their day starts at 1700EST i.e NY close. You can download from their website or, if you like, I can let you have the .srv file to load into your config folder and you should be able to start a new account from that (assuming you are running mt4 on a demo account also).
Follow, don't anticipate.
  • #4,662
  • Aug 18, 2011 7:12pm Aug 18, 2011 7:12pm
Quoting Ian
Dan, it's just an mt4 demo using FxPro as broker. Their day starts at 1700EST i.e NY close. You can download from their website or, if you like, I can let you have the .srv file to load into your config folder and you should be able to start a new account from that (assuming you are running mt4 on a demo account also).
Thanks for comments V.. and taken on board.. re inbetween news.. somthing i have not really taken much noice of .. except NFP.. would like to talk about this a little more later.. I must have a better understanding of.. re your comment .. inbetween news.. as soon as u said that the lite went partly on.. re your comment re lack of reaction points to lower ground.. CRACKER.. please point out when ever u see.. till i put my head around it..Thanks..

Ian.. thanks for yr reply.. I did work it out.. and have site on my desk top ..will down load..I run 3 mt4s and constantly switch between.. looking for diffrences and diffrent set ups.. lines etc..one thing i noticewith EU.. monthly about 3 major Fibo points come in on current low..
  • #4,663
  • Aug 19, 2011 2:01am Aug 19, 2011 2:01am
Quoting danc
Thanks for comments V.. and taken on board.. re inbetween news.. somthing i have not really taken much noice of .. except NFP.. would like to talk about this a little more later.. I must have a better understanding of.. re your comment .. inbetween news.. as soon as u said that the lite went partly on.. re your comment re lack of reaction points to lower ground.. CRACKER.. please point out when ever u see.. till i put my head around it..Thanks..

Ian.. thanks for yr reply.. I did work it out.. and have site on my desk top ..will down load..I run...
Y there were good trades in between the news, so I lost out. EV and pg got good eurchf trades I think.

US market can go to sleep, sideways and with small stops you'll get chopped silly trying to trade that. When US session is trending with good hl/lh's I suppose the rule is take good set ups. That never seems to upset EV. His philosophy seems to be take good set ups, don't look for reasons not to take, I think I should heed some of that advice. I can be over cautious. Again though just to stress this attitude should be for those days where trend and nice hl/lh's are clear (but I still wouldn't jump on counter trend US moves too quickly).
  • #4,664
  • Aug 19, 2011 2:06am Aug 19, 2011 2:06am
Quoting Vantage
Again though just to stress this attitude should be for those days where trend and nice hl/lh's are clear (but I still wouldn't jump on counter trend US moves too quickly).
Y as an example, 2 hl's but they both failed and gave 2b type entries back into the post LO head fake trend of day.
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  • #4,665
  • Aug 19, 2011 3:00am Aug 19, 2011 3:00am
Eur stopped below Y's low at the W pivot, a likely place for a bounce. I wasn't in front of the computer for the lh sell at 4307 (in line with neg D and 4hr). Working under assumption that the move up to 4325 was the head fake and now hoping for a lh sell below 4300.
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  • #4,666
  • Aug 19, 2011 3:05am Aug 19, 2011 3:05am
Quoting Vantage
Eur stopped below Y's low at the W pivot, a likely place for a bounce. I wasn't in front of the computer for the lh sell at 4307 (in line with neg D and 4hr). Working under assumption that the move up to 4325 was the head fake and now hoping for a lh sell below 4300.

Hooray! Your analysis matches mine! Lets wait and see...
  • #4,667
  • Aug 19, 2011 3:08am Aug 19, 2011 3:08am
Quoting Delite
Hooray! Your analysis matches mine! Lets wait and see...
I certainly hope you are right!!
  • #4,668
  • Aug 19, 2011 3:10am Aug 19, 2011 3:10am
We've retraced 50% of the move down from LO.
Follow, don't anticipate.
  • #4,669
  • Aug 19, 2011 3:11am Aug 19, 2011 3:11am
Quoting Vantage
I certainly hope you are right!!
Fingers crossed! Am looking at a possible TP of 14260 and if we get throught that, then 14215.
  • #4,670
  • Aug 19, 2011 3:19am Aug 19, 2011 3:19am
Quoting Delite
Fingers crossed! Am looking at a possible TP of 14260 and if we get throught that, then 14215.
Nice targets!
Follow, don't anticipate.
  • #4,671
  • Aug 19, 2011 3:45am Aug 19, 2011 3:45am
Quoting Ian
Nice targets!

Yup! Its a pity that price is heading in the opposite direction...!
  • #4,672
  • Aug 19, 2011 4:03am Aug 19, 2011 4:03am
Quoting Vantage
When US session is trending with good hl/lh's I suppose the rule is take good set ups. That never seems to upset EV. His philosophy seems to be take good set ups, don't look for reasons not to take, I think I should heed some of that advice. I can be over cautious.
Hi V.

Re your comments above. I guess I have a very simple philosophy with regard to trading. When I see what looks like a very promising set-up forming, I immediately assess the situation. I can't really lay down a set of rules, but basically, I look to see if the potential trade has room to move, to breathe, without getting cut off in its prime by an obvious S/R line, or a subtle confluence etc.

Contrary to what you said, I DO look for reasons NOT to take the trade, but it never is an "in-depth" study, but rather a "superficial" study, if you like. There has to be OBVIOUS reasons present, and if I can't see the "obvious", then I take the view that the trade is worth while.

The alternative is to analyse what looks like a promising trade to extinction, and if one keeps that up, then they might as well kick trading into touch.

Just my two penn'orth!
  • #4,673
  • Aug 19, 2011 4:14am Aug 19, 2011 4:14am
This was my B/E trade earlier during FH.

Hourly had closed negative but with a lower wick.

15 min nice lower wicks, couldn't close below high volume area from Monday/early Asia lows. 5 min hl little/no upper wick entry at 4308.

Went to B/E when we held above Asian s/r level (green line) at 4312.

Should have banked at 25 level, but ever the optimist thought I would see if we could get to Day's open/ Asian highs at 32-36 level.

(Memo to self: 3 things during FH - Bank at key levels, bank at key levels, bank at key levels.)

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Follow, don't anticipate.
  • #4,674
  • Aug 19, 2011 4:47am Aug 19, 2011 4:47am
Just took a cheeky 2b sell at 4332.

4340 provided support at LO (clear on 15 min chart) on Wednesday and has been a resistance area overnight.
Follow, don't anticipate.
  • #4,675
  • Aug 19, 2011 4:47am Aug 19, 2011 4:47am
Quoting Delite
Yup! Its a pity that price is heading in the opposite direction...!
Pity those set ups often work, but as we did not have a good entry candle, no set up, no trade, no loss!! Thats just as important.
  • #4,676
  • Aug 19, 2011 4:49am Aug 19, 2011 4:49am
Quoting eyevoltage
Hi V.

Re your comments above. I guess I have a very simple philosophy with regard to trading. When I see what looks like a very promising set-up forming, I immediately assess the situation. I can't really lay down a set of rules, but basically, I look to see if the potential trade has room to move, to breathe, without getting cut off in its prime by an obvious S/R line, or a subtle confluence etc.

Contrary to what you said, I DO look for reasons NOT to take the trade, but it never is an "in-depth" study, but rather a "superficial" study,...
Cheers EV, I didn't want to put words in your mouth, I do sometimes look a little too much sometimes. You have to decide on what has served you well v missing on too many opportunities.
  • #4,677
  • Aug 19, 2011 4:49am Aug 19, 2011 4:49am
Quoting Vantage
Pity those set ups often work, but as we did not have a good entry candle, no set up, no trade, no loss!! Thats just as important.

Oh, I didn't actually enter the trade - I was waiting for a candle close to confirm the swing high and it didn't happen and thus kept me out of trouble!

Really frustrating to watch price zoom up and down without much chance of entry. Will keep waiting!
  • #4,678
  • Aug 19, 2011 4:50am Aug 19, 2011 4:50am
I got this too on the way up.. for 20+.. my thoughts are the USD/DXY lower so will buy again on break of daily pivot..if it goes back throu
  • #4,679
  • Aug 19, 2011 4:51am Aug 19, 2011 4:51am
Quoting Delite
Oh, I didn't actually enter the trade - I was waiting for a candle close to confirm the swing high and it didn't happen and thus kept me out of trouble!

Really frustrating to watch price zoom up and down without much chance of entry. Will keep waiting!
Not forgetting of course its freaky Fri.
  • #4,680
  • Aug 19, 2011 4:54am Aug 19, 2011 4:54am
I got this too on the way up.. for 20+.. my thoughts are the USD/DXY lower so will buy again on break of daily pivot..if it goes back throu.. sorry forgot chart..
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