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Higher low, lower high system

  • #4,781
  • Aug 25, 2011 4:29am Aug 25, 2011 4:29am
Vantage.. am running 3 Meta trader 4 demos... only one has XAU/USD... would like to runn Fozzy on this program but cant work out how.. to shift from one to other..Can u help.. excuse my ignorance..when u have time of course..no hurry..
  • #4,782
  • Aug 25, 2011 4:36am Aug 25, 2011 4:36am
Quoting danc
Vantage.. am running 3 Meta trader 4 demos... only one has XAU/USD... would like to runn Fozzy on this program but cant work out how.. to shift from one to other..Can u help.. excuse my ignorance..when u have time of course..no hurry..
From navigator bar (looks like an open envelope with a star over it) open indicators (not custom indi's). Left click on moving average, hold down and drag the ma onto your rsi window (not onto the chart). Under "apply to" choose previous indicators data, I use 8 rsi 8 sma.

If thats what u meant.

Or load template.
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File Type: tpl 5 min.tpl   34 KB | 320 downloads
  • #4,783
  • Aug 25, 2011 4:42am Aug 25, 2011 4:42am
Quoting Vantage
Just to clarify the x is where Mrs V didn't want us to sell, even if candle was bigger and closed nearer 111.30. The arrow down is a perfect system trade in terms of 1hr upper wicks, 15 min neg close, 5 min lh little/no lower wicks.

I'm not even giving Mrs V any stick over this one.

Just showing the eur chart as well, same set up as ej. As often happens just needed a little more time for the trade to kick in properly. A classic example of waiting for candles to fall into place.
Neeexxxxxt trade pls.
Perfect system trade after reversal off 4 hr resistance 4470/TL/R1 combo.

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Follow, don't anticipate.
  • #4,784
  • Aug 25, 2011 4:52am Aug 25, 2011 4:52am
Quoting Ian
Perfect system trade after reversal off 4 hr resistance 4470/TL/R1 combo.

Attachment
Yep nice one.

Lets see ej reaction at this obvious SR area 111.14.
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  • #4,785
  • Aug 25, 2011 5:48am Aug 25, 2011 5:48am
Quoting Vantage
Yep nice one.

Lets see ej reaction at this obvious SR area 111.14.
That worked out pretty nicely.

There were some good 15 min turn candles at the W1 R1/Y's high but I hesitated to go against the 1 hr neg close. I know if breaking rules, do it with trend! Maybe there'll be another chance if we get a 1 hr pos close.

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Follow, don't anticipate.
  • #4,786
  • Aug 25, 2011 6:54am Aug 25, 2011 6:54am
Quoting Ian
That worked out pretty nicely.

There were some good 15 min turn candles at the W1 R1/Y's high but I hesitated to go against the 1 hr neg close. I know if breaking rules, do it with trend! Maybe there'll be another chance if we get a 1 hr pos close.

Attachment
Yes there was a nice hl at the SR area for a move back into D/4hr trend. Didn't take the next hl and with news coming and this Jackson Hole whatsit today might have an afternoon off. Well go grocery shopping!!
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  • #4,787
  • Aug 25, 2011 7:23am Aug 25, 2011 7:23am
I realise that it is a little late in the day to be clarifying rules, but something jumped out at me this morning.

After the H1 posts direction (and all the longer term stuff which is a given) is a LH or HL enough, or should we see a LL,Lh or HH, LH?

Not being pedantic (I hope) just straightening my mind out...!
  • #4,788
  • Aug 25, 2011 9:33am Aug 25, 2011 9:33am
Quoting Delite
I realise that it is a little late in the day to be clarifying rules, but something jumped out at me this morning.

After the H1 posts direction (and all the longer term stuff which is a given) is a LH or HL enough, or should we see a LL,Lh or HH, LH?

Not being pedantic (I hope) just straightening my mind out...!
I've always worked on basis of 1st move is best move, after 1hr formed. Yes OK there'll always be the odd exceptions (2b's, 15 min reversal candles in and around LO and taking greater care in and around USO).

Usually a good 1hr candle and a solid hl or lh is enough.

The EJ example is an engulfing 1hr in direction of D, 4hr so its just continuing the trend and you have a HH, HL. I think thats just the nature of the beast with an engulfing candle set up.

Reversal 1hr coming.
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  • #4,789
  • Edited 10:03am Aug 25, 2011 9:41am | Edited 10:03am
Eur 1hr shooting star at the proven turn area. The lh is absolutely clear, price just did not want to go up again above 4455 and occurs at the close of 1hr.

There are of course times when price will form a LH before 1hr has closed but no you don't have to wait for the kinds of moves you suggest.
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  • #4,790
  • Aug 25, 2011 9:55am Aug 25, 2011 9:55am
Quoting Vantage
Eur 1hr hammer at the proven turn area. The lh is absolutely clear, price just did not want to go up again above 4455 and occurs at the close of 1hr.

There are of course times when price will form a LH before 1hr has closed but no you don't have to wait for the kinds of moves you suggest.

Thanks so much, V!
  • #4,791
  • Aug 25, 2011 9:57am Aug 25, 2011 9:57am
And if you are waiting for a 4hr close you'll almost certainly have LL, LH's formed and would likely be trading 2nd or 3rd move.
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  • #4,792
  • Aug 26, 2011 12:49am Aug 26, 2011 12:49am
GU retrace to the pip.
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  • #4,793
  • Aug 26, 2011 2:18am Aug 26, 2011 2:18am
1hr big SS, red line on 5 min shows that close. The 5 min SS little/no wick was a little larger than I was hoping for, to get a little more room between entry and 6300. We have hit RN and bounced up so next hit and I'll move stop to BE.
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  • #4,794
  • Aug 26, 2011 2:52am Aug 26, 2011 2:52am
Quoting Vantage
1hr big SS, red line on 5 min shows that close. The 5 min SS little/no wick was a little larger than I was hoping for, to get a little more room between entry and 6300. We have hit RN and bounced up so next hit and I'll move stop to BE.
Stop just hit at BE so 175 pip fall from here is no doubt a sure thing.
  • #4,795
  • Aug 26, 2011 7:14am Aug 26, 2011 7:14am
Quoting Vantage
Stop just hit at BE so 175 pip fall from here is no doubt a sure thing.
You just about got your wish buddy.

Pretty happy with this series of L/H PB's from the H1 Chart.
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  • #4,796
  • Aug 26, 2011 7:23am Aug 26, 2011 7:23am
Quoting Musashi
You just about got your wish buddy.

Pretty happy with this series of L/H PB's from the H1 Chart.
Mmmmh yes I did see the ej 4hr had flipped over nicely but it was drifting for so long before the big early US session drop, I didn't have the intestinal fortitude to sell it with the Bernanke talk coming.
  • #4,797
  • Aug 26, 2011 7:29am Aug 26, 2011 7:29am
Quoting Vantage
Mmmmh yes I did see the ej 4hr had flipped over nicely but it was drifting for so long before the big early US session drop, I didn't have the intestinal fortitude to sell it with the Bernanke talk coming.
Yes it looks so obvious in hindsight now. Such a huge supply zone around that level.

Put a fib retracement tool on that recent move down, and price respected the 50% quite well.

I imagine there would of been quite a few stop orders above that resistance level. Seems Mr. Market has moved price right into that huge supply zone and guess what... plenty of willing buyers there.
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  • #4,798
  • Aug 26, 2011 7:31am Aug 26, 2011 7:31am
got this one for 140.. note .. arrows on Fozzy and chart..Fozzy div chart holding..
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  • #4,799
  • Aug 26, 2011 7:36am Aug 26, 2011 7:36am
Great trades M and danc.
  • #4,800
  • Aug 26, 2011 7:38am Aug 26, 2011 7:38am
Dragon Daily .. real reason i took this trade..note as per arrows on chart and Fozzy.. also clear as on 15 min chart..
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