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Higher low, lower high system

  • #5,421
  • Apr 3, 2012 10:22am Apr 3, 2012 10:22am
Quoting jtrade
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.
Hi jtrade

Its on our D, 4hr and 1hr charts, not on 5 min anymore. We do not use it on the basis of 1hr fozzy crossed so its a trade. Its a help with decision on direction and for divergence. SR is obviously more important.

Could we do without it, yes of course as our main source of trade determination is follow the D (looking for SR levels, is the daily itself on a hl/lh, had an engulfing close etc etc).

We try and determine if in our humble opinion its a poss buy only or sell only day or a day when we would consider buying and selling.

So a positive close D candle that is in itself a hl not banging up against an obvious R area would be buy only the following day. If D rsi crossed up and above 50 level all the better.

If D has a positive close candle in a downtrend we may consider buy and sell trades (repeat may) the next day as you never know when the market is going to really turn. Until proven otherwise the view would be its a counter trend rally and we'd view more as a chance to sell rally in downtrend.

The market turn would be daily double tops/bottoms, hl/lh's, rsi crossed its ma, rsi crossed 50%, TL break.
  • #5,422
  • Apr 3, 2012 10:35am Apr 3, 2012 10:35am
Quoting Vantage
Hi jtrade

Its on our D, 4hr and 1hr charts, not on 5 min anymore. We do not use it on the basis of 1hr fozzy crossed so its a trade. Its a help with decision on direction and for divergence. SR is obviously more important.

Could we do without it, yes of course as our main source of trade determination is follow the D (looking for SR levels, is the daily itself on a hl/lh, had an engulfing close etc etc).

We try and determine if in our humble opinion its a poss buy only or sell only day or a day when we would consider buying and selling.

So...
Forgot to add are we trading above Y's high, below Y's low as an important focus. So if we are below Y's low in a downtrend then focus will be on sell only. Above Y's high in uptrend focus buy only.

Again this is a general concept, bouncing against key SR areas may stop us entering. Poor 1hr candles in our direction would also stop us from entering.

Having said that we still use the smaller bounce from key area = good possibility of that level failing.
  • #5,423
  • Apr 3, 2012 10:41am Apr 3, 2012 10:41am
Quoting Vantage
Forgot to add are we trading above Y's high, below Y's low as an important focus. So if we are below Y's low in a downtrend then focus will be on sell only. Above Y's high in uptrend focus buy only.

Again this is a general concept, bouncing against key SR areas may stop us entering. Poor 1hr candles in our direction would also stop us from entering.

Having said that we still use the smaller bounce from key area = good possibility of that level failing.
And then finally, if we have say a D hl positive close that isn't showing divergence or a SR level that we are scared of then the following day the focus would be on buying. See arrow up. Then we would wait for 1hr to close with a good candle (eg hammer, engulfing close, morning/evening star pattern etc etc) and then a 5 min hl for entry exactly as we have done for years.

Getting older (I'm told it happens) we trade less frequently than before.
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  • #5,424
  • Apr 3, 2012 10:47am Apr 3, 2012 10:47am
Absolutely final post on subject, we believe one day follows the next roughly 70% of the time. So add this decent % to say a lh D neg close = sell only the next day (yes obvious SR maybe excluded) we find having that view keeps you out of a lot of fake out moves in particular around LO and US open.
  • #5,425
  • Apr 3, 2012 10:51am Apr 3, 2012 10:51am
Quoting jtrade
I have finally got round to gettnig an H4 series going & guess what, it's based around Fozzy + some special sauce !



J.
Feel free to share!!
  • #5,426
  • Apr 3, 2012 1:45pm Apr 3, 2012 1:45pm
Now that's what I call a comprehensive reply : thank-you !

Will update on the special sauce very soon (about to put my daughter to bed...).

J.
  • #5,427
  • Edited 2:35am Apr 4, 2012 2:22am | Edited 2:35am
Quoting Vantage
Feel free to share!!
Actually, V, there's not much I can say as it's a proprietary development still in beta called Entropy over at the private FXAW forum. Entropy is a very sophisticated Supply & Demand model, attracting a great deal of mirth from non-FXAW members on a number of forums.

If you search "Entropy" on FF, you will find someone has posted a white paper written by Craig, its developer and founder of FXAW (post #310 on the Fratelli EA's thread). Craig's a great guy, btw.

But I ain't recommendin' nuttin' : it's a slow-cooking project with a lot of development to go... however, I am working actively with some of the signals as of this week, having monitored them for several months. I value my time very highly, so that says it all, really.

:nerd:
  • #5,428
  • Apr 4, 2012 5:47am Apr 4, 2012 5:47am
Missed the big move down as I was in a eur sell earlier.

Got this nice lh didn't follow through so out for +17 or so as I have to go out now and missed the bigger portion of move.

S2 and obvious problem areas the lows 23/29 Mar held.
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  • #5,429
  • Apr 4, 2012 8:12am Apr 4, 2012 8:12am
Mrs V followed up with this 5 min lh, little/no lower wick. She hoped for RN exit but with W S2, S2 at the 15 level and the potential supp areas from prev lows exited at +20.

All in all a good day.
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  • #5,430
  • Apr 4, 2012 12:09pm Apr 4, 2012 12:09pm
don't see the indicators from 123patterns revisited thread anymore on your charts vantage... stopped using those completely..?

thanx
  • #5,431
  • Apr 5, 2012 6:28am Apr 5, 2012 6:28am
Quoting Gothamcity
don't see the indicators from 123patterns revisited thread anymore on your charts vantage... stopped using those completely..?

thanx
The charts are now set up as per Mrs V's requirements.

The only position she values more highly that the Honourary Life Member of the 20 Pips Bank hall of Fame is the President of the Society for the Prevention of Changes to Charts.

So as I only get time to review and discuss likely higher TF set ups with her the 123V/V7 were removed.
  • #5,432
  • Apr 5, 2012 6:31am Apr 5, 2012 6:31am
Quoting Vantage
The charts are now set up as per Mrs V's requirements.

The only position she values more highly that the Honourary Life Member of the 20 Pips Bank hall of Fame is the President of the Society for the Prevention of Changes to Charts.

So as I only get time to review and discuss likely higher TF set ups with her the 123V/V7 were removed.
Between her trades this am (will check if she did screen shots now) and mine Y were at +18% for the 4 days of the month.

OK that is above normal but based on that she can have the charts any which way she wants!!!!!!!!!!!!!!!!
  • #5,433
  • Apr 5, 2012 6:38am Apr 5, 2012 6:38am
Eur Y another solid neg close. 1hr shooting star with neg divergence (NB this divergence signalling resumption of trend nice), 5 min lh little/no lower wick. Exit +14 when it stalled.
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  • #5,434
  • Apr 5, 2012 6:42am Apr 5, 2012 6:42am
For some reason she switched to GU. 1hr engulfing close again with neg divergence signalling resumption of trend, 5 min lh little/no lower wick shooting star. Ran down to Y's low for a very nice trade.
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  • #5,435
  • Apr 5, 2012 6:50am Apr 5, 2012 6:50am
I am back early from work but we are starting our long weekend now.

Will find out soon if we have another contract to build 125,000 sq m's (yes you read right) over the next 2-3 years. We are up for others and can handle another 1 of this size in tandem. If 1 or both come through Mrs V will continue to fly the flag trading wise for us. I'll just chuck my views around discussing set ups as we do now.

Oh forgot to add despite the fact that GU yesterday was a hammer it was a red hammer and the 1hr engulfing was too good a set up candle to ignore.
  • #5,436
  • Apr 17, 2012 10:20am Apr 17, 2012 10:20am
Haven't posted for a while just thought I should.

Yesterday was a pos close, 1hr pos close, pull back to 25 psych level 5 min morning star pattern, hl little/no upper wick.
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  • #5,437
  • Edited 10:36am Apr 19, 2012 10:24am | Edited 10:36am
Mrs V missed out on this hl buy this am when she took a call about her mum who has been in hospital.

With Y's pos close this was a straight forward (wait 20 mins and try again) hl buy.
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  • #5,438
  • Apr 19, 2012 10:28am Apr 19, 2012 10:28am
With the high from 2 Apr getting rejected several times over several hours (1hr shooting star, 2 x 1hr dojis) this was a good counter trend 5 min lower high entry little/no lower wick. She exited at +32 around the low from this morning, see left of this chart.
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  • #5,439
  • Apr 19, 2012 10:33am Apr 19, 2012 10:33am
The exit on above trade was a very good one. Move down confirmed counter trend with a 1hr hammer and doji.

She was not able to take advantage of the move up as she switched off with a late season storm here. haven't really looked to see if entries were in and around the news though.

Under normal circumstances we would be looking for nice 1hr candles to show trend returning and get into a 5 min hl.
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  • #5,440
  • Apr 19, 2012 10:42am Apr 19, 2012 10:42am
Quoting Vantage
The exit on above trade was a very good one. Move down confirmed counter trend with a 1hr hammer and doji.

She was not able to take advantage of the move up as she switched off with a late season storm here. haven't really looked to see if entries were in and around the news though.

Under normal circumstances we would be looking for nice 1hr candles to show trend returning and get into a 5 min hl.
The 1hr hl's over the last few days are pretty clear, see above. After a very strong move up Y and another 1hr move up in US session we are again stalling at 2 Apr's high.

We'll see where we close today and assess tomorrow whether the retrace here is just a typical London close reversal/pause at the obvious R level or start of a move down. TWT.
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