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Higher low, lower high system

  • #4,941
  • Sep 23, 2011 11:10am Sep 23, 2011 11:10am
Quoting Vantage
I thought the 1st post was pretty clear. Have a read up on 1 2 3 reversal patterns and swing high/lows, go through 1st post again. Search this forum for Joe Ross Traders Trick entry that may help.

Have a good look at 1st post charts. 1hr set up candle then the 5 min lower highs all have arrows down.

Sells are where you have a swing low/lower high multi candle wave. Must have a neg close 5 min candle with little/no lower wick as set up. Once this set up candle has closed you want the next (or the 2nd candle at the latest) to go 1 pip lower than...
Entries 1 pip below the 5 min set up candle lows, see the arrows down. The red line on 5 min shows the close of 1hr candle.
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  • #4,942
  • Sep 23, 2011 11:29am Sep 23, 2011 11:29am
Quoting Delite
V - as you are here....!

Can I ask you about time of day?

If you get a strong hourly candle at 1pm UK time ie 1.5 hours prior to Wall Street opening, would you trade a Hl/LH in the next hour, or would you pass and wait for the US to show its hand?

Hope all is going well with the super-duper construction stuff!
Generally yes we'd trade.

There's always some iffs and butts.

Would depend though on whether there was a big US news event and what London morning had done. If London open had done a lot then we'd prob be very wary if we'd missed out. If we were nicely up then carry on entering good lh waves. If London open had done little then as sure as the sun is coming up a good trade will come around that time (perhaps an hour earlier).

You can count the days (in a month) where both LO and London 11am-12am/early US are quiet on a couple of fingers.

Mrs V has clear instructions if LO quiet watch closely 11-12 UK time.

Finally your comment of good candle should by definition avoid the pre US sideways drift. When that happens we'll avoid counter London trend waiting for hl/lh's to revert back into London session trend.

Missing trading like mad. Don't have a choice but to watch over the property business. I know someone that was swindled out of a mill on a project much much smaller than this one. If we perform then contracts will get even bigger! Working capital will be an issue though. At this stage all planning is working out, biggest risk to us not completing appears at this stage to be suppliers (bricks) not adherring to their undertakings. I'm sure we'll get that sorted.
  • #4,943
  • Sep 23, 2011 11:34am Sep 23, 2011 11:34am
Quoting Vantage
Generally yes we'd trade.

There's always some iffs and butts.

Would depend though on whether there was a big US news event and what London morning had done. If London open had done a lot then we'd prob be very wary if we'd missed out. If we were nicely up then carry on entering good lh waves. If London open had done little then as sure as the sun is coming up a good trade will come around that time (perhaps an hour earlier).

You can count the days (in a month) where both LO and London 11am-12am/early US are quiet on a couple of fingers.

Mrs...
Thanks for another great answer!

Good luck with the venture - it sounds incredibly exciting! Must really get the brain working!

Have a marvellous weekend!
  • #4,944
  • Sep 23, 2011 12:02pm Sep 23, 2011 12:02pm
Hi,

I just browsing around and not involved in this thread at all and haven't even read all the first post but I just thought I drop a quick note here to say Happy 3rd Birthday to the thread and well done to Vantage for being involved here for so long....Hope it's working out for you guys!!!!!!!!!!!!!!!!!

Blinkers.........
  • #4,945
  • Sep 24, 2011 5:30am Sep 24, 2011 5:30am
Quoting fxblinkers
Hi,

I just browsing around and not involved in this thread at all and haven't even read all the first post but I just thought I drop a quick note here to say Happy 3rd Birthday to the thread and well done to Vantage for being involved here for so long....Hope it's working out for you guys!!!!!!!!!!!!!!!!!

Blinkers.........
The saying goes, if it ain't broke .......................
  • #4,946
  • Sep 25, 2011 7:05pm Sep 25, 2011 7:05pm
Picture of day EUUD.. note.. Fozzy diverg... note trend line... note..1.618% line... note consolidation on 1 hr chart raw chart.. am watching for long trades..Sorry wrong chart..
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  • #4,947
  • Sep 25, 2011 7:08pm Sep 25, 2011 7:08pm
This should be rite chart..
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  • #4,948
  • Sep 26, 2011 6:23pm Sep 26, 2011 6:23pm
EUUD... still longish....
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  • #4,949
  • Sep 27, 2011 6:49am Sep 27, 2011 6:49am
1 hr pos close above mid Asian support level (green line), 15 min pos close on high volume, the m5 potential entry bar was too large at 24 pips so I zoomed in to the m1 chart to find a hl entry. Long at 3544, all out at 3574 for +30 when price hesitated at the 75 level.

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Follow, don't anticipate.
  • #4,950
  • Sep 27, 2011 7:15am Sep 27, 2011 7:15am
Well played...Ian....
  • #4,951
  • Sep 27, 2011 8:04am Sep 27, 2011 8:04am
EU Dragon and Cable been kind to me to nite.. Just renterd Dragon as per.. Arrow and Hoz line
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  • #4,952
  • Sep 27, 2011 8:20am Sep 27, 2011 8:20am
Like a sky rocket.. taken money and off to bed..
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  • #4,953
  • Edited 11:51am Sep 28, 2011 11:29am | Edited 11:51am
Mrs V had a bit of a back/neck problem and hardly traded last week. 4 trades today for 35 pips, 2 wins, 1 BE 1 smallish loss.

This is the bigger pic chart and I'll post her live trades just now.

She had her sister visit her and her mum so didn't trade US session at all. And somewhere in the middle of all this she popped out to the shops.

So all in all I'm happy with the mornings trades that she made.
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  • #4,954
  • Sep 28, 2011 11:36am Sep 28, 2011 11:36am
Wasn't in front of computer for earlier move up.

1st trade for her, this was an error, she had set up but with 5 min upper wicks she pressed as a total accident. Out for less than -0.5 pip (OK so I called this BE).

I must say I am quite impressed that realising she made a mistake she didn't get suckered to hang into a loser and got out as soon as she hit BE.
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  • #4,955
  • Edited 11:57am Sep 28, 2011 11:40am | Edited 11:57am
2nd trade, classic pullback to RN and bounce up from the psych level.

A nice psych level retrace and cross of 5 min 8 lwma often a decent trade in itself.
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  • #4,956
  • Edited 11:56am Sep 28, 2011 11:43am | Edited 11:56am
Trade 3. Nice angle on ma's. Price pulls back to 3625-36 area that quickly showed as supp level with pos close lower wick.

This one ran up nicely and she got most of that move. Amazingly enough she sailed through 30 pips and the head of the 20 Pips Bank Hall of Fame exit disciplinary committee phoned her to query the exit.
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  • #4,957
  • Sep 28, 2011 11:49am Sep 28, 2011 11:49am
By now she is quite nicely up but we are getting to a decent range done for the morning. Anyway she got in on the hl, this one failed immediately and she didn't wait for stop to be hit and got out earlier.

Many say leave trade for target or stop to be hit. Mrs V is firmly NOT of that opinion. If she doesn't like it or thinks she made a slip she is quite happy to get out with minimal damage. In this case the size of range done already got her out pretty quick.
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  • #4,958
  • Sep 28, 2011 12:04pm Sep 28, 2011 12:04pm
Oh forgot to mention that whilst she is mainly trading the normal hl/lh's together with the re-trace from 1 psych level to another (one of her faves) in days trend.

She has opted to focus on 1hr and 5 min charts only. All others are quick looks at beginning and then closed. She is not (for now) looking at 15 min at all. We'll see how that goes.
  • #4,959
  • Sep 28, 2011 1:05pm Sep 28, 2011 1:05pm
Hi Vantage,
That is the bigest problem for me.
How do you decide if you get out early or wait fot full profit?
As you can see there was my entery and SL of 20 pip.
After several candles and price action that I did not like I have moved my SL to +1 pip when candel started to brake last low in this swing.
As you know by looking at the chart EU 5 min you will see that I was wrong.
Can you help with litle coment?
BR
Sasa

Quoting Vantage
By now she is quite nicely up but we are getting to a decent range done for the morning. Anyway she got in on the hl, this one failed immediately and she didn't wait for stop to be hit and got out earlier.

Many say leave trade for target or stop to be hit. Mrs V is firmly NOT of that opinion. If she doesn't like it or thinks she made a slip she is quite happy to get out with minimal damage. In this case the size of range done already got her out pretty quick.
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  • #4,960
  • Sep 28, 2011 4:08pm Sep 28, 2011 4:08pm
Quoting Vantage
Oh forgot to mention that whilst she is mainly trading the normal hl/lh's together with the re-trace from 1 psych level to another (one of her faves) in days trend.

She has opted to focus on 1hr and 5 min charts only. All others are quick looks at beginning and then closed. She is not (for now) looking at 15 min at all. We'll see how that goes.
Nice trading Mrs V.
Follow, don't anticipate.
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