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Higher low, lower high system

  • #5,401
  • Feb 20, 2012 10:28pm Feb 20, 2012 10:28pm
Quoting bader
Vantage

Your thread is one of the best I have read. Clear concise and full of great tips and help. I think we should all be thanking you.

Your first page helped the penny drop and together with Rob and your contributions on 123 patterns revisited I have learnt a lot.

I have combined this with some basic money management - thanks to Udine on Invictus and some of his ideas and had a really good day today with 39 pip haul over 3 trades.

So thank you for your insight and thread.
Happy to have been of some help.
  • #5,402
  • Feb 21, 2012 9:31am Feb 21, 2012 9:31am
Trade what you see or what you think. Perhaps changing my view, its such a fine line. We all see things but think will I take or leave this set up. Is that trading what you see or what you think mmmmh.

Mrs V didn't take this trade as we had a massive storm here and she shut computer off.

We thought with GU yesterday closing as a doji at an identified R level that a sell is likely today. 1hr gives the kind of neg close little/no wick shooting star that is pic perfect. So what we were expecting to see played out making it easy to press the button when it falls into place.
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  • #5,403
  • Feb 21, 2012 9:40am Feb 21, 2012 9:40am
Quoting Vantage
Trade what you see or what you think. Perhaps changing my view, its such a fine line.
Decided its trade what you see but have a darn good think about it!!
  • #5,404
  • Feb 22, 2012 2:35am Feb 22, 2012 2:35am
The neg close and doji on gu and eur D charts suggest down to us. Mrs V can take buys where 5 min ema's have good angle but as has been the case lately we 'think' that late Lon am/pre-early US will provide the action.

Should we get a neg close 1hr in that time frame we will be looking to sell, if what we think will happen doesn't well if rules allow a buy trade we'll think about it.
  • #5,405
  • Feb 23, 2012 7:42am Feb 23, 2012 7:42am
I'm not having good results with this system last few days (demo trading)
Looks like the market needs more trends and less chop for this system.
Maybe i want to trade to much, maybe slowing down is the way to go.
Be more precise about my entries, and wait (more patience) for good hourly setup bars.
Persistence will get it. Consistency will keep it.
  • #5,406
  • Feb 23, 2012 11:19am Feb 23, 2012 11:19am
Quoting Chake
I'm not having good results with this system last few days (demo trading)
Looks like the market needs more trends and less chop for this system.
Maybe i want to trade to much, maybe slowing down is the way to go.
Be more precise about my entries, and wait (more patience) for good hourly setup bars.
Post some of your charts and check the basics. Good 1hr candles, 1st retracement the best trade and consider yesterday in particular was a horrible chop day on eur. They happen.
  • #5,407
  • Mar 7, 2012 10:47am Mar 7, 2012 10:47am
I have been very busy and haven't been posting.

Mrs V had 2 x -1.5% days when the market was messing around and really choppy and not seeming to make sense. So she grabbed a couple of days R and R.

Anyway these trades today all based on the simple premise of good angle on 5 min ma's. I was a little surpised by this one ivo the d chart but it goes to show how well ma's can work with counter D moves. 1hr had divergence at the low then a higher low to set up this scalp.

Nice 5 min hl, little/no upper wick out at 79 when move up stalled.
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  • #5,408
  • Mar 7, 2012 10:52am Mar 7, 2012 10:52am
She did buy again on au after above trade closed and exited at BE.

She missed earlier sell opp's on eur but early US session moved back to the 3133 SR area. She sold the 3125 little/no lower wick for a nice move down to RN.
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  • #5,409
  • Mar 7, 2012 10:56am Mar 7, 2012 10:56am
Got frisky and sold this one but RN held and out just above BE. We have 5700 as an identified SR level on our D chart and when this level couldn't break from Y also, an easy bail out at BE.
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  • #5,410
  • Mar 11, 2012 10:07pm Mar 11, 2012 10:07pm
Quoting Vantage
Decided its trade what you see but have a darn good think about it!!

A man should look for what is, and not for what he thinks should be.
Albert Einstein

Seems like Einstein agrees with you.

Every rule has an exception. Except for this one.
  • #5,411
  • Edited 11:14am Mar 14, 2012 11:12am | Edited 11:14am
Before I go to work we do an analysis of what we see and what we think for todays pa potential.

These were my notes for this am.

GU - D chart good bounce up Y, but RSI not crossed up and still below 50 level, not crossed upper TL. So there is potential for buys and sells.

EUR - D down, 1hr cleared base 3060 area. If there is a bounce up look for smaller move up as chance to sell.

Mrs V's first trade. 1hr neg close pre LO in line with overall down trend and Y's neg close. 5 min lh little/no lower wick out just shy of +30. Had a re-entry sell out at BE.
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  • #5,412
  • Mar 14, 2012 11:19am Mar 14, 2012 11:19am
She missed the GU 1hr pos close move up but in a rare moment of genius she got this great trade at Y's high/upper TL/W pivot combo. 5 min lh little/no lower wick. Nice one Mrs V.
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  • #5,413
  • Mar 14, 2012 11:22am Mar 14, 2012 11:22am
With a 1hr lower high neg close she was not at the computer to get these (her back was playing up) 5 min lh's little/no lower wicks.
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  • #5,414
  • Edited 11:44am Mar 14, 2012 11:37am | Edited 11:44am
Quoting Chake
I'm not having good results with this system last few days (demo trading)
Looks like the market needs more trends and less chop for this system.
Maybe i want to trade to much, maybe slowing down is the way to go.
Be more precise about my entries, and wait (more patience) for good hourly setup bars.
Mrs V also had a couple of days poor results I think it was basically 3 days of -1.5%. By the time day 3 rolled along she was not following the plan and trading everything in sight, got quite rattled and the damage could have been much worse. She took a couple of days break and we quite simply re-focused on trade what you see but have a darn good think about it.

As mentioned above we have our morning assessment of key levels, prev days pa and what should happen today and try and keep it really simple e.g. Y's eur neg close lh on a D chart thats breaks a previous low = either sell only today or better have very, very good reason to buy otherwise its . Does that mean we miss the odd counter trend move sure but not losing about that.

Once that assessment is done its waiting for 1hr to line up (in this case of eur sell perhaps a doji, neg close, shooting star or dble top) and then enter from the 5 min lh/hl.
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  • #5,415
  • Edited 9:49am Mar 22, 2012 8:50am | Edited 9:49am
Hi Vantage,

I read your currency meter thread yesterday, as I am making a study of it, and saw your lh hl strategy. I'm going to be studying this thread.

One thing that strikes me about your method is that you could look for hidden bearish or bullish divergence. Here is a chart of the 1M and 1H GBP/JPY. The white line is the 8 WMA, I don't have the LWMA. How different are they btw?

It's a bit messy, as it has the CII over it. You see the green line plots hidden bearish divergence rising higher than before, but does not itself rise above the pink 100 line of the CII. This may be a good setup, I'll have to look into it.

Just wondering if you've thought about hidden divergence with your method since it is mostly trend continuation trading.

Edit: The trade below had regular divergence first with its hh and then hidden bearish divergence with its lh.
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  • #5,416
  • Mar 22, 2012 10:46am Mar 22, 2012 10:46am
Hidden divergence is price lower indi waves higher or price higher indi waves lower. Its maybe confirming the lower high or higher low which is what you will already have seen as pa will have failed and turned. So I don't think hidden div will be of much use.
  • #5,417
  • Mar 22, 2012 10:50am Mar 22, 2012 10:50am
Fri was a shooting star in uptrend. So this gives the chance to sell in terms of follow the D. With a 1hr shooting star also Mrs V sold this lower high. Out at +20 when RN held a couple of times. She exited just before the big collapse down.

Fair enough it was counter trend.
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  • #5,418
  • Mar 22, 2012 10:57am Mar 22, 2012 10:57am
She took this before a candle close when the pos close on 5852 couldn't go higher with a red hammer. Not sure if i should bust her chops a little, our lh closed candle entry should have been around 5840 when there was a neg close that followed through going lower below the previous candle close.

I am certainly not a fan of the I'm sure its going lower let me sell here as I'm not sure how you repeat it or back test it. As things stand show us pretty much any chart and we can say what our rules are. So all in all great trade wrong entry.
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  • #5,419
  • Mar 23, 2012 12:14am Mar 23, 2012 12:14am
Focus on sells today it seems, at least for 4 we watch gu, eur, ej, gj, we'll see. GU might be cleanest. Asian push up stopped at 21st/19th lows.
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  • #5,420
  • Apr 3, 2012 2:02am Apr 3, 2012 2:02am
Good morning, Mr & Mrs V,

I see the old Fozzy cross survives & remains on your charts through thick & thin. The question is.... do you really use it !?

I'm asking because I like it too, although not on faster charts, but I have finally got round to gettnig an H4 series going & guess what, it's based around Fozzy + some special sauce !



J.
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