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Higher low, lower high system

  • #4,741
  • Aug 23, 2011 9:39am Aug 23, 2011 9:39am
GU was a similar set up, 1hr pos close. There was an immediate hl but a 20 pip candle and I leave those alone. There was no LO head fake at that point so perhaps taking it might have been tricky.
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  • #4,742
  • Aug 23, 2011 9:43am Aug 23, 2011 9:43am
The red line shows neg close 1hr, see prev post. There was a lh, not taken due to size of candle then another lh SS little/no lower wick for some pips.
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  • #4,743
  • Aug 23, 2011 9:48am Aug 23, 2011 9:48am
Quoting Vantage
I was late again this am and not traded. There might be a problem here 6560 area but as usual we'll wait and see what reaction is and it looks like those answers will come in US session and the London close overlap. At the mo potential for H+S.
6560 obviously did become a R level (4hr bodies) I'm finished now but we are heading up again so perhaps tomorrow will see this level taken out, TWT.
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  • #4,744
  • Aug 24, 2011 3:33am Aug 24, 2011 3:33am
EUUD 1 hr,, I didnt trade this but just want to point out how many times when u see a diversion on Fozzy and chart u get a reaction.. enter was clear on 1 minuite..abd resistance was weekly pivot..
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  • #4,745
  • Aug 24, 2011 3:41am Aug 24, 2011 3:41am
1 min chart of EU..UD and enter point and weekly pivot
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  • #4,746
  • Aug 24, 2011 4:11am Aug 24, 2011 4:11am
I am in this one as per arrow and trend line
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  • #4,747
  • Aug 24, 2011 4:14am Aug 24, 2011 4:14am
I wish the pound would just breakout of this damn congestion period.... enough already..
  • #4,748
  • Aug 24, 2011 4:28am Aug 24, 2011 4:28am
Dan I took same trade off 5 min chart. EU 1hr pos close, 15 min pos close, 5 min hl off pivot. Entry 4438, out for +22 at 4460 when price stalled at MR1 also recent 4 hour resistance level.

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Follow, don't anticipate.
  • #4,749
  • Aug 24, 2011 4:32am Aug 24, 2011 4:32am
Quoting Ian
Dan I took same trade off 5 min chart. EU 1hr pos close, 15 min pos close, 5 min hl off pivot. Entry 4438, out for +22 at 4460 when price stalled at MR1 also recent 4 hour resistance level.

Attachment
4 hr chart

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Follow, don't anticipate.
  • #4,750
  • Aug 24, 2011 4:36am Aug 24, 2011 4:36am
Quoting Ian
4 hr chart

Attachment
Looking very much like an inverted H&S pattern to me... going a lot higher I suspect... could be wrong... na.. doubt it.
  • #4,751
  • Aug 24, 2011 4:49am Aug 24, 2011 4:49am
Watching this one Ian... EU.. 5 min
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  • #4,752
  • Aug 24, 2011 5:11am Aug 24, 2011 5:11am
EU.. long closed it dont loke it.. no damage done.. reason.. Fozzy turns down on 1hr15 and 5.. and DXY30 min rallying
  • #4,753
  • Aug 24, 2011 5:22am Aug 24, 2011 5:22am
Quoting Musashi
Looking very much like an inverted H&S pattern to me... going a lot higher I suspect... could be wrong... na.. doubt it.
Had a small gu buy at the 1hr pos close on the hl break of 2 point 6510 but again not too many pips in it. So not fussed about posting a chart.

Looking at eur D chart we paused at that upper tl Y but this does look like going higher.
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  • #4,754
  • Aug 24, 2011 5:32am Aug 24, 2011 5:32am
Quoting Vantage
Had a small gu buy at the 1hr pos close on the hl break of 2 point 6510 but again not too many pips in it. So not fussed about posting a chart.

Looking at eur D chart we paused at that upper tl Y but this does look like going higher.
Yeah it looks hier to me 2..V... But on the live DXY.. 5 min chart there is a 17 bar base patten,,.. going hier as we speak.. so will bid my time..
  • #4,755
  • Aug 24, 2011 5:35am Aug 24, 2011 5:35am
Quoting danc
Yeah it looks hier to me 2..V... But on the live DXY.. 5 min chart there is a 17 bar base patten,,.. going hier as we speak.. so will bid my time..
Mmmmh if there's a decent 1hr neg close might easily be prepared to sell. Still thinking up but must avoid getting too tied into a view.

Roll on end of US/UK summer hol's.
  • #4,756
  • Aug 24, 2011 5:41am Aug 24, 2011 5:41am
Quoting Vantage
Mmmmh if there's a decent 1hr neg close might easily be prepared to sell. Still thinking up but must avoid getting too tied into a view.

Roll on end of US/UK summer hol's.
When is That..??
  • #4,757
  • Aug 24, 2011 5:43am Aug 24, 2011 5:43am
Quoting danc
When is That..??
29 Aug is a UK public hol so hopefully Tues next week. Haven't yet checked if there are any US hols that might delay further.
  • #4,758
  • Aug 24, 2011 5:48am Aug 24, 2011 5:48am
Quoting Vantage
29 Aug is a UK public hol so hopefully Tues next week. Haven't yet checked if there are any US hols that might delay further.
US labour day 1st Mon in Sep so US might not be back until after that.
  • #4,759
  • Aug 24, 2011 5:54am Aug 24, 2011 5:54am
I was asked about view on ej. Like eur I think chart suggests up and jpy authorities want up. Apparently big boys did not see jpy central bank announcement of support for yen as going far enough??? We are on what seems like a strong SR level, I don't know who will win out.

Maybe the markets are just not wanting to push now with Bernanke's announcement getting closer????
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  • #4,760
  • Aug 24, 2011 5:55am Aug 24, 2011 5:55am
been watching these for a while.. fozzy diversions on 15 min chart.. check the arrows on the fozzy and chart.. one in progress as cwe speak.. worth watching any how.. in my opn..
didnt get em all on.. but there has been three at tops since the 23rd.. the missing one is a beauty..
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