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Higher low, lower high system

  • #4,681
  • Aug 19, 2011 4:54am Aug 19, 2011 4:54am
Eur stalled at 4340 (nice one Ian) and gu having a bit of a pull back perhaps this will signal the big move is actually down after all. TWT.

Anyway we have visitors now then I have to pop out to shops and then get lunch for but I'll hopefully be back for US session and can get something out of today!!
  • #4,682
  • Aug 19, 2011 4:59am Aug 19, 2011 4:59am
Quoting Ian
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.
50% out at +20, will hold rest at B/E now we've got a nice hourly SS.

Attached Image (click to enlarge)
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Follow, don't anticipate.
  • #4,683
  • Aug 19, 2011 5:04am Aug 19, 2011 5:04am
Quoting Ian
50% out at +20, will hold rest at B/E now we've got a nice hourly SS.

Attachment
Very nice Ian, lovely evening star pattern (up candle, doji, neg close) at T's open/W M3.
  • #4,684
  • Aug 19, 2011 5:13am Aug 19, 2011 5:13am
GU looking very bullish to me on the H4 Chart.

1.6470 previous resistance region for some time has finally decided to fold.

Get on the long side in my opinion
  • #4,685
  • Aug 19, 2011 5:19am Aug 19, 2011 5:19am
Quoting Musashi
GU looking very bullish to me on the H4 Chart.

1.6470 previous resistance region for some time has finally decided to fold.

Get on the long side in my opinion
Mmmmh despite the strong close 4hr hammer we cannot break above 6540 which has been top of the range for last few candles. 1hr a neg close SS, I might just sit out seeing as I have to go out.I am listening though, pref is lower first for me at this stage.
  • #4,686
  • Aug 19, 2011 6:03am Aug 19, 2011 6:03am
Ideally this previous resistance level will hold price up for a bit. Only time will tell I guess.
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  • #4,687
  • Aug 19, 2011 6:12am Aug 19, 2011 6:12am
Thanks M for your little prod. After that I had a rethink. Decided to see what eurchf was doing. 4hr lower wicks were clear so decided to buy this dble btm at the obvious S level.

Exited for +40 at the Asian lows that can be seen to left of this chart.
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  • #4,688
  • Aug 19, 2011 6:24am Aug 19, 2011 6:24am
1 hr EUUD.. check divergance on fozzy and chart.. check this is caught between ..day pivot and weekpivot and day s1.my bias is hier..
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  • #4,689
  • Aug 19, 2011 6:36am Aug 19, 2011 6:36am
Quoting Vantage
Thanks M for your little prod. After that I had a rethink. Decided to see what eurchf was doing. 4hr lower wicks were clear so decided to buy this dble btm at the obvious S level.

Exited for +40 at the Asian lows that can be seen to left of this chart.
Very nice, V, just wondering why M's comments re: GU made you look at EC. Is there a correlation there?
Follow, don't anticipate.
  • #4,690
  • Aug 19, 2011 7:08am Aug 19, 2011 7:08am
Just got 45 out of this..
  • #4,691
  • Aug 19, 2011 7:08am Aug 19, 2011 7:08am
Quoting Ian
Very nice, V, just wondering why M's comments re: GU made you look at EC. Is there a correlation there?
Absolutely no correlation. I respect M and his ability to spot SR areas. If it wasn't for the itty bitty charts he posts that hardly anyone can see he'd have a lot more people realising that.

So whilst the 4hr/1hr gu candles weren't agreeing his comment did make me step back and ask myself if I wasn't indulging in a little tunnel vision and trying to force a trade.

I had a look elsewhere saw the ec S on 4hr and made a decision.
  • #4,692
  • Aug 19, 2011 7:09am Aug 19, 2011 7:09am
Quoting danc
1 hr EUUD.. check divergance on fozzy and chart.. check this is caught between ..day pivot and weekpivot and day s1.my bias is hier..
Nicely spotted, that 1 hr upper wick/gravestone doji could only push down to earlier support and then turned higher again.

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Follow, don't anticipate.
  • #4,693
  • Aug 19, 2011 7:10am Aug 19, 2011 7:10am
Quoting danc
Just got 45 out of this..
Just got back from the shops, no charts with your post but I see what you mean. Very nice.
  • #4,694
  • Aug 19, 2011 7:11am Aug 19, 2011 7:11am
Just got 45 out of this..
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  • #4,695
  • Aug 19, 2011 7:13am Aug 19, 2011 7:13am
Quoting danc
Just got 45 out of this..
Ian has posted the 1hr chart, 4hr pos close, 1hr pos close perfect hl. Love it. Missing clean trades like this from Lon morning session.
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  • #4,696
  • Aug 19, 2011 7:13am Aug 19, 2011 7:13am
Quoting Vantage
Just got back from the shops, no charts with your post but I see what you mean. Very nice.
Got a bit nervous..V.. had a big bet on this.. and forgot the down load..Thinking about the monie..Thats 7 in a row for me over the last 2 days using yourr stuff..and most were big bets.. starting to get confidence in it..THANK......YOU
  • #4,697
  • Aug 19, 2011 7:18am Aug 19, 2011 7:18am
Quoting danc
Got a bit nervous..V.. had a big bet on this.. and forgot the down load..
No problem, posting such nice charts (eur 1hr) in advance with all that divergence, pls feel free to carry on being nervous. When the 1hr flipped around with a hammer it set up a great trade.
  • #4,698
  • Aug 19, 2011 7:22am Aug 19, 2011 7:22am
And now M's gu call is playing catch up. The red line shows the close of 1hr green hammer which followed the neg close red SS. Took a little while for 5 min hl to fall into place but when it did lovely move. Nice one M.

Yet again lately its the late morning Lon/US early overlap thats giving the best trades.
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  • #4,699
  • Aug 19, 2011 7:28am Aug 19, 2011 7:28am
Quoting danc
Thats 7 in a row for me over the last 2 days using yourr stuff..and most were big bets.. starting to get confidence in it..THANK......YOU
Sorry I actually missed this, fantastic, great to hear. Don't go to big though!
  • #4,700
  • Aug 19, 2011 8:15am Aug 19, 2011 8:15am
Hi V

Sorry to keep bombarding you with questions - but its the only way to learn!

I note on my charts y high, low, daily roll and London Open. Do you do this, or do these levels tend to give you reasons not to take trades?

Also, I notice from your trade today that you weren't too bothered about the timing. Does it matter to you, what time the signal occurs?

All the best.
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