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Higher low, lower high system

  • #5,001
  • Oct 3, 2011 1:29am Oct 3, 2011 1:29am
Dragon 4 hr.. note Fozzy and chart diverg....watching shorter term charts for sell signal..Similar thinking and similar set up on Cable..
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  • #5,002
  • Oct 3, 2011 7:15am Oct 3, 2011 7:15am
Dragon... note previous post
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  • #5,003
  • Oct 3, 2011 9:36am Oct 3, 2011 9:36am
Quoting Shaggy_rock
Hi guys, I was wondering what would be the best tool to help confirming wheter a swing is a breakout out or just a double top/bottom or false breakout (bullish/bearish trap).

Do you use volume or something else, or do you await a succesful retest of the level? (which not always occurs, or which looks to fail but then succeeds afterall)
Your question is one of the toughest in the book. Its actually an all encompassing question. Time of day ie at London close you'll get retraces, length of run, have you had 3 good legs up/down in a move already etc etc they are just some of the issues.

You have some comments on volume.

These comments are based on being a scalper ie a key level failing for me with 20-30 pips = successful trade but someone trading longer term that might just be getting sucked into a loser. So take these comments in that light.

I have successfully looked at key levels (RN's, pivots, proven SR levels) and looked at lh/hl bounces from that level as the clue to whether it will hold or fail.

I have done some posts with charts on my blog, key levels will they hold or will they fail (or something like that).
  • #5,004
  • Oct 3, 2011 6:23pm Oct 3, 2011 6:23pm
As per 2 above posts and still going..closed for + 90... Cable same same..as per above call..Note magic Fozzy diversion... { Thank... You V..} weekly PPX and and W..8...simple 5.. and W34..Golden Cross..
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  • #5,005
  • Oct 3, 2011 7:24pm Oct 3, 2011 7:24pm
EUUD.. 4 hr..strong resistance between.. 3150 and 3220...and 2 trendlines also....wouldnt hold my breath thou.. price action will tell the direction... i favour consolidationish withmore down side..time to be very patient...
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  • #5,006
  • Oct 3, 2011 9:37pm Oct 3, 2011 9:37pm
Hi guys and vantage. I just started reading your thread and i was wondering what is the yellow stair step and we can i download the indi?


Thanks,
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  • #5,007
  • Oct 4, 2011 12:14am Oct 4, 2011 12:14am
Quoting fxtrain
Hi guys and vantage. I just started reading your thread and i was wondering what is the yellow stair step and we can i download the indi?


Thanks,
Its a MTF ma, I deleted it when something was slowing up my computer horribly. I'll have a look to see if I still have it.

If I can't find it a 96 lwma will give you same result, well similar.

All you are looking for is something to set up short term trend for you.
  • #5,008
  • Oct 4, 2011 12:15am Oct 4, 2011 12:15am
Quoting danc
As per 2 above posts and still going..closed for + 90... Cable same same..as per above call..Note magic Fozzy diversion... { Thank... You V..} weekly PPX and and W..8...simple 5.. and W34..Golden Cross..
Absolutely outstanding.
  • #5,009
  • Oct 4, 2011 6:25am Oct 4, 2011 6:25am
I install mtf_movingaverage but it does not look like that. I am looking for the exact indi like that. I seen a member using this indi with his system with great success.

Thanks
Quoting Vantage
Its a MTF ma, I deleted it when something was slowing up my computer horribly. I'll have a look to see if I still have it.

If I can't find it a 96 lwma will give you same result, well similar.

All you are looking for is something to set up short term trend for you.
  • #5,010
  • Oct 4, 2011 2:25pm Oct 4, 2011 2:25pm
Quoting Vantage
Your question is one of the toughest in the book. Its actually an all encompassing question. Time of day ie at London close you'll get retraces, length of run, have you had 3 good legs up/down in a move already etc etc they are just some of the issues.

You have some comments on volume.

These comments are based on being a scalper ie a key level failing for me with 20-30 pips = successful trade but someone trading longer term that might just be getting sucked into a loser. So take these comments in that light.

I have successfully looked at...

Hi and thx for the comments.
Altough i don't know which book you refer to.
Yes Time is of great importance, also strong or exhausted momentum
will define a breakout or not imo.

For now the only tool i use to follow momentum is, as mentioned before,
BB, but i prefer keltner coz it's smoother.

I'm learning to spot exhaustion of momentum through the candle reading.
And like you said, count the waves and know which wave is an impulsive and which one is a correction wave. There are always two scenario's.

For strong levels i use fractal levels and not just highs, lows.

Regarding the candles, some say a gap followed by strong momentum but failing to hold the price and forming a spike should be the strongest indication of a failing momentum. (caused by profit taking i assume?)

Another thing is divergence of price should also indicate weakening of current momentum, although i'm not a fan of using divergence.


Still I realize my question has no true answer..

Comment if you like,
all the best to you.
Old Habits Die Hard.
  • #5,011
  • Oct 5, 2011 10:53am Oct 5, 2011 10:53am
Quoting fxtrain
I install mtf_movingaverage but it does not look like that. I am looking for the exact indi like that. I seen a member using this indi with his system with great success.

Thanks
Sorry I don't have it. Don't get fixated on you must have that specifically, it is just a 1hr ma put onto a 5 min chart. Any longer ma will give you that filter.
  • #5,012
  • Oct 5, 2011 12:55pm Oct 5, 2011 12:55pm
Quoting Vantage
Sorry I don't have it. Don't get fixated on you must have that specifically, it is just a 1hr ma put onto a 5 min chart. Any longer ma will give you that filter.
there is an indicator called "step MA" looking just like that,
I don't have it now, but I think it is here on the forum somewhere,
check it out.
Bulls are stupid Animals!especially when Im short!
  • #5,013
  • Oct 5, 2011 2:22pm Oct 5, 2011 2:22pm
Quoting fxtrain
I install mtf_movingaverage but it does not look like that. I am looking for the exact indi like that. I seen a member using this indi with his system with great success.

Thanks
Could be this one, use settings: time frame 60, ma period 8, ma method 3 will give 8 lwma of H1 on lower timeframes.

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Follow, don't anticipate.
  • #5,014
  • Oct 5, 2011 7:26pm Oct 5, 2011 7:26pm
AUD JY.. day chart note div on RSI W 8 and Fibo ext at the low 1.50 and 1.616% am long this..worth watching..
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  • #5,015
  • Oct 5, 2011 7:36pm Oct 5, 2011 7:36pm
4 hr AUDJY.. note fozzy diverg... note small range bars... worth watching i think... could be setting its self up to go much hier.. a Ralpl Shell call... connect Vs.. blog..He is worth following in my opn..some patience required thou..note increased vol bars as it goes in to low over a 50 bar period....abt an 8 day period.. good sign in my OPN>>
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  • #5,016
  • Oct 6, 2011 1:51am Oct 6, 2011 1:51am
Watching EUUD for long trade.. 5 min chart ,,.. would buy at 2 crosses... note 2 crosses.. on volume.. increasing... based on longer term charts 1 hr and 4 hr.. my bias is long.. thinking.. week mid point..3440,,ish
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  • #5,017
  • Oct 6, 2011 3:29am Oct 6, 2011 3:29am
EUUD... 5 min .. note in at crosses.. as per above chart out at crosses.. as per this chart..PLUS 33
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  • #5,018
  • Oct 6, 2011 3:31am Oct 6, 2011 3:31am
My bias is long as per 1hr and 4 hr chart so will look for more long trades..to mid point weekly.. 3440
  • #5,019
  • Oct 6, 2011 3:38am Oct 6, 2011 3:38am
Cable 15 min ... got this 2 in at crosses on break of consolidation out at crosses..PLUS 35.. pure Vantage..bias is longer based on 1 hr and 4 hr charts..
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  • #5,020
  • Oct 6, 2011 3:42am Oct 6, 2011 3:42am
I use this as lead indicator as well as USD index..
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