Grabbed a few more pips from these re-entries.
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Higher low, lower high system
- #5,484
- Edited 1:14pm Jul 6, 2012 7:23am | Edited 1:14pm
Great Stuff ..so simple
Just took 18 pips after we broke below Y's low. 1hr neg close, m5 LH, little/no lower wick. I was selling directly into S1 so was ready to bail if that level held.
Out after the bounce off the RN/W_S2 combo. Did consider seeing if the RN would give way for a possible 15/85 down to last month's low at 87 but I didn't like the CII divergence.
Follow, don't anticipate.
- #5,485
- Jul 6, 2012 7:39am Jul 6, 2012 7:39am
Agreed, very nice charts V. Could you let me know what the long ma is on your H1 chart?
I noticed that GU hit the pivot again on NFP day.
Follow, don't anticipate.
- #5,487
- Jul 6, 2012 8:21am Jul 6, 2012 8:21am
- Joined Mar 2007 | Status: Trader | 7,195 Posts
I noticed that GU hit the pivot again on NFP day.
- #5,488
- Edited 8:59am Jul 6, 2012 8:37am | Edited 8:59am
- Joined Mar 2007 | Status: Trader | 7,195 Posts
- #5,490
- Jul 6, 2012 2:36pm Jul 6, 2012 2:36pm
And it did about 30 mins or so after the post.
Smaller bounces from a key level and still short of 5 day ADR. Sold at 2299 and out just before the spike down to 65 for another +18.2 trades today, +2.4R.
Follow, don't anticipate.
- #5,492
- Edited 3:41am Jul 7, 2012 1:01am | Edited 3:41am
- Joined Mar 2007 | Status: Trader | 7,195 Posts
2 trades today, +2.4R.
Very nice. I took adr range off (Mrs V didn't want more lines we have enough of those) but after some nice eggs on toast for brekkies she's back upstairs for a snooze. So I'm taking my chance to sneak it back onto our otherwise clean 15 min charts.
Next job for me is to get her to trade the hl/lh at extremes a little more (back into trend of course) and then to hang in a little longer. I do have some sympathy though as she does have some neck/shoulder problems that can make hunched over a computer the whole time somewhat uncomfortable. If she can carry on doing what she's doing (after some success then a failed drift off into I can trade anything land) lately though perhaps I should just leave.
For me I do what I can to keep my eye in whilst at the construction company. The 1st major contract (kept getting units added on) will be coming to a close in about a month. We will find out in a week or two if the next contract is coming through. It will keep us busy for 3 yrs doing a $ turnover on a monthly basis that we were doing in a year. Target will be 8,000 sq m's of finished units per month (yes per month). 5 years of this and sonny boy will be set up for life.
So I will carry on helping Mrs V, keeping my eye in, trying to retain some bits and pieces that took ages to get together should I trade actively again.
After a long digression the ATR indi we use, cannot remember where I got at FF but thanks. It takes the days open and puts range in, then when adr hits changes colour to red. As you can see from brown lines eur Y just came short of adr so lines remain brown.
- #5,493
- Jul 7, 2012 1:28am Jul 7, 2012 1:28am
- Joined Mar 2007 | Status: Trader | 7,195 Posts
hi vantage,
Pop by to say hi,
No problem.
In summary some of the ideas:
- got to be trend v CT firstly, trend is much more forgiving than CT so if you're taking a risk/stretch rules do it with bigger pic trend
- watch those 1hr hl/lh's, 1hr in line with D works well for us
- If bucking 4hr try and assess the strength/weakness of 4hr candles and see if pa is either outright stopping as it did Y or if 1hr has reverted to hl/lh back to D trend (often intraday London to US sessions)
- avoid where poss the LO head fakes CT
- avoid the pre/early US small CT candles as they are just as often a fake out
Of the currencies we watch Mrs V has instructions to only go CT on GU, though she often refuses to do even that lately as she has had such a good run trading D, 1hr 5 min entry.
A chart from GU this week arrows up clearly showing either LO or US head fake CT candles. Haven't bothered with arrows on eur chart it should show even clearer why we avoid eur CT candles. The lh/ll flow for downtrend should be pretty clear.
- #5,494
- Jul 7, 2012 2:59am Jul 7, 2012 2:59am
- Joined Mar 2007 | Status: Trader | 7,195 Posts
hi vantage
Pop by to say hi,
- #5,495
- Edited 8:42am Jul 10, 2012 8:13am | Edited 8:42am
- Joined Mar 2007 | Status: Trader | 7,195 Posts
- #5,498
- Edited 2:55pm Jul 10, 2012 1:48pm | Edited 2:55pm
I posted this on the blog but what the heck will put it on here also.
Just a thought, if you have a good reason to view the trend and expect moves in a certain direction (down at the moment for gu and eur) does it make it easier to spot 2b trades? Just asking.
Might have been difficult to take this one despite the nice CII divergence as the m15 had just printed a very strong pos close (see left arrow m15 chart) and it occurred just above Y's high.
Later there was an hourly SS which closed below Y's high followed by a negative close. This set up an m5 lh (middle arrow m5 chart) below today's open.
I wasn't at my screen at this time but if I had been I might have preferred to wait for the next hourly close through the 8lwma at NYO giving a beautiful entry below all the now downward pointing ma's, no lower wick (right hand arrow) and breaking recent support. Only drawback was RN and pivot below but these were sliced through like soft butter for a 30 pip move down to S1.
Follow, don't anticipate.
