DislikedCheck out Medici in this thread, not so much a thread for a light read but more for a serious study.. check also post's by Islander and V amongst others.
Definitely recommended.
http://www.forexfactory.com/showthre...37#post3931637Ignored
Higher low, lower high system
- #5,107
- Edited 7:21am Oct 21, 2011 4:39am | Edited 7:21am
EU 1 hr positive close after rejection of MS1/Weekly/Monthly pivots, 15 min pos close, 5 min hl through 50 level/8lwma.
Entry at 3760, pushed straight up through pivot, closed at 3780 which was today's open/POC combo for +20.
Entry at 3760, pushed straight up through pivot, closed at 3780 which was today's open/POC combo for +20.
Follow, don't anticipate.
- #5,111
- Oct 21, 2011 11:22am Oct 21, 2011 11:22am
- Joined Mar 2007 | Status: Trader | 7,195 Posts
She got this one earlier, 1hr solidly down, 5 min ma's clear. She waited though for the range low to get hit rather than a few pips earlier under the shooting star close.
20 pips bank Hall of Fame has extended her membership
.
20 pips bank Hall of Fame has extended her membership
.
- #5,117
- Oct 21, 2011 4:57pm Oct 21, 2011 4:57pm
Missed this early move, setup during during Frankie's hr.
EU at FO has 1 hr bar closing with a large upper wick. Price has tried to push up out of the Asian range but failed to reach MR1 and closed back down in the range. It can't close above the 1 hr bar earlier in Asian session. In conjunction with 1hr CII divergence possibility of a sell coming up.
At FO 15 min shows a solid negative close candle followed by a doji. This sets up a 5 min hl but ma's are flat and with other factors not thinking of a buy at this point.
Price pushes up a few pips to the (brown) POC line and reverses back down quickly forming a perfect lh with no lower wick for a typical FH reversal trade.
A sell takes out the low of the doji for a 50 pip move down to LO hesitating only briefly at Asian lows/daily pivot area.
EU at FO has 1 hr bar closing with a large upper wick. Price has tried to push up out of the Asian range but failed to reach MR1 and closed back down in the range. It can't close above the 1 hr bar earlier in Asian session. In conjunction with 1hr CII divergence possibility of a sell coming up.
At FO 15 min shows a solid negative close candle followed by a doji. This sets up a 5 min hl but ma's are flat and with other factors not thinking of a buy at this point.
Price pushes up a few pips to the (brown) POC line and reverses back down quickly forming a perfect lh with no lower wick for a typical FH reversal trade.
A sell takes out the low of the doji for a 50 pip move down to LO hesitating only briefly at Asian lows/daily pivot area.
Follow, don't anticipate.
- #5,119
- Oct 21, 2011 6:17pm Oct 21, 2011 6:17pm
Recent history now but there were some good trades yesterday (Thursday) which I didn't have time to post until now.
The Asian session was a steady downward trend which turned into a sideways 30 pip range during FH. This resulted in a small 1 hr hammer which bounced off a level at 3675-3700 which has been clear S/R over the past two weeks. Post-LO there was a small push down below Frankie's low which was quickly rejected resulting in another slightly larger 1 hr hammer.
Both 15 min and 5 min charts showed CII buy divergence which led to a 5 min hl through the weekly and monthly pivots which had been the high of the FH range. Just over an hour later there was another hl with by now all ma's lined up off Asian support turned resistance level around 3725-30.
The Asian session was a steady downward trend which turned into a sideways 30 pip range during FH. This resulted in a small 1 hr hammer which bounced off a level at 3675-3700 which has been clear S/R over the past two weeks. Post-LO there was a small push down below Frankie's low which was quickly rejected resulting in another slightly larger 1 hr hammer.
Both 15 min and 5 min charts showed CII buy divergence which led to a 5 min hl through the weekly and monthly pivots which had been the high of the FH range. Just over an hour later there was another hl with by now all ma's lined up off Asian support turned resistance level around 3725-30.
Follow, don't anticipate.
- #5,120
- Oct 21, 2011 6:35pm Oct 21, 2011 6:35pm
By late morning price had reached a resistance level and during NY open price started heading downwards again giving a solid 1 hr negative close. A 15 min SS and a 5 min lh with small lower wick closing below all the ma's gave the first sell on the hour. There then followed another 1 hr/15 min negative close, the next lh was a long legged doji, after a small bounce off the weekly pivot, which propelled price further south until London Close at 1800 (FxPro time).
Follow, don't anticipate.