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Higher low, lower high system

  • #5,521
  • Jul 25, 2012 8:08am Jul 25, 2012 8:08am
Quoting walkman
will it work on small TF
Hi walkman

You show a 5 min chart, thats where we take all entries from (since we dropped 1 min many moons ago). All we are doing is using the higher TF's for setting up trend.

If you get your trend direction right you can take the 1 2 3's and 2b's at the extreme (am still working on this skill with Mrs V she is stubbornly sticking to whats working for her).
  • #5,522
  • Jul 25, 2012 8:14am Jul 25, 2012 8:14am
Price pushed up this am, some or other politician talking too much. Lots of upper wicks on gu around Y's high.

Mrs V did consider the 2b at the extreme 5550 (entry around 5537) but did not have the intestinal fortitude to press the button.

A long wait ensued whilst the weak CT pre/early US session candles had to play themselves out. Took this 5 min lh, little no lower wick on the close of red 1hr doji. Ran down to M1 pivot for +29.
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  • #5,523
  • Jul 25, 2012 8:36am Jul 25, 2012 8:36am
on H1 fibo 38
think can be move down, maybe not very big, but still down

after X point it went up, so entered a little higher.

only minilot
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  • #5,524
  • Jul 25, 2012 8:43am Jul 25, 2012 8:43am
Quoting walkman
on H1 fibo 38
think can be move down, maybe not very big, but still down

after X point it went up, so entered a little higher.

only minilot
Nice chart thks and welcome.

Just thought I'd chuck this up. As mentioned often the lh after divergence worked nicely.
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  • #5,525
  • Jul 25, 2012 8:46am Jul 25, 2012 8:46am
Quoting Vantage
Nice chart thks and welcome.

Just thought I'd chuck this up. As mentioned often the lh after divergence worked nicely.
I have never entered based on divergence. There are several divergence trades here I assume, its the lh following these divergence signals thats the one that works.
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  • #5,526
  • Jul 25, 2012 8:50am Jul 25, 2012 8:50am
Time for dinner, the game resumes tomorrow.

Just for the sake of repetition:

 

  1. watch for hl/lh's after divergence
  2. watch for pre/early US fake outs
  3. watch for intra day hl/lh's on 1hr as set ups

  • #5,527
  • Jul 25, 2012 10:52pm Jul 25, 2012 10:52pm
Quoting Vantage
LO head fake - GU a candle with an engulfing close that just breaks the immediate range will normally have enough follow through for a scalp trade even CT.

LO head fake - EUR take care of small inside bars that cannot break range. We are anti taking eur CT trades.

Pre/early US - any candle that clearly cannot break range so inside bars, small dojis, small hammers/shooting stars. Basically looking for trend to resume. Have a look at the blog I think I've done a few posts on this recently.
thanks for the response. I'll check the blog for more insight now.
Let God be true, and every other man be a liar
  • #5,528
  • Jul 25, 2012 10:58pm Jul 25, 2012 10:58pm
Quoting lkdolzfx
thanks for the response. I'll check the blog for more insight now.
There was lots of politicians talk yesterday which caused moves in eur and gu yesterday. These weak candles on gu are a classic example pre/early US open fake outs. Lots of upper wicks then 2 dojis in a row. Mrs V's sell (see above) was right on the close of the red doji 15:00 chart time. Also an intra day lower high on 1hr.
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  • #5,529
  • Jul 25, 2012 11:37pm Jul 25, 2012 11:37pm
Quoting Vantage
I have never entered based on divergence. There are several divergence trades here I assume, its the lh following these divergence signals thats the one that works.
Is it a rule for you not to take divergence straight away but wait for the lhs/hls that follows? i like to have your take on this as am a big fans of divergence though i never used it in isolation i always look at where its happening, how compact is it usually 8-14bar with a midpoint are the best and what the PA is doing (engulfing,hammer/shooting star and momentum candle) , . i think the divergence you showed didnt shoot down immediately because the trend is too strong at that time checking the slope of the TL and i'll also have waited for a retest of the top to see what it does which give a nice lh.
Let God be true, and every other man be a liar
  • #5,530
  • Jul 25, 2012 11:52pm Jul 25, 2012 11:52pm
We only take the trades as per page 1, either at range extremes or following 1hr, from 5 min chart. Divergence is only a warning of a possibility of a trade. Something I have seen across time frames is the hl/lh that follows divergence is a good set up to look at. On a 15 min chart chances are the time it would take to form would equal a 1hr candle + 5 min hl/lh in any event. The 15 min divergence if seen may give a heads up.
  • #5,531
  • Jul 26, 2012 12:42am Jul 26, 2012 12:42am
Quoting Vantage
We only take the trades as per page 1, either at range extremes or following 1hr, from 5 min chart. Divergence is only a warning of a possibility of a trade. Something I have seen across time frames is the hl/lh that follows divergence is a good set up to look at. On a 15 min chart chances are the time it would take to form would equal a 1hr candle + 5 min hl/lh in any event. The 15 min divergence if seen may give a heads up.
It has not occur to me before but i'll be looking into implementing this approach to my divergence method. it helps to get a better entry price in this case and as a trader i always want to tweek and improve my edge. Thanks
Let God be true, and every other man be a liar
  • #5,532
  • Jul 26, 2012 8:35am Jul 26, 2012 8:35am
Not a good time for Mrs V to have been away from the computer. We did discuss that today can be buy or sell day (Y's doji at the proven support level).

Todays 1hr candle cleared the immediate range, so theres usually scope for gu trade even if CT. 5 min hl above the RN (I hate it when pa is constantly jumping above/below RN), good angle on ma's. So should have been a relatively easy decision.

Oh well she's back from the doctor now, no permanent scars and the bruises will fade soon.

Absolutely just kidding, no worries, she's feeling a bit miffed though as this would probably have been her best month on her own with a solid day today.
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  • #5,533
  • Jul 30, 2012 12:54am Jul 30, 2012 12:54am
on h1 fibo 23
on m5 and 2B and 3B setup
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  • #5,534
  • Jul 31, 2012 7:13pm Jul 31, 2012 7:13pm
How do you like the Aussie/US$. Obviously the Daily RSI would not support shorts but the channel pattern is too good to ignore? (if you saw the right intra-day sell triggers)
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  • #5,535
  • Jul 31, 2012 9:12pm Jul 31, 2012 9:12pm
Quoting Hyperion
How do you like the Aussie/US$. Obviously the Daily RSI would not support shorts but the channel pattern is too good to ignore? (if you saw the right intra-day sell triggers)
A very nice chart. I'd follow the same principles. D has divergence, 4 hr also with RSI cross down. So it would be scalp sells from 1hr lower highs to confirm neg flow. So yes I'd agree with chance to sell intraday. There is a support level that its bounced up from (and another just below that), at the moment hl/hh flow broken.

Would look to get back to trend though if that signals possibly with an intraday hl on 1hr in US session.
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  • #5,536
  • Jul 31, 2012 9:24pm Jul 31, 2012 9:24pm
Thanks Vantage, appreciate your work here as always. One thing - what period is the EMA on your 4 hrly chart please?
  • #5,537
  • Jul 31, 2012 9:29pm Jul 31, 2012 9:29pm
Quoting Hyperion
Thanks Vantage, appreciate your work here as always. One thing - what period is the EMA on your 4 hrly chart please?
8lwma.
  • #5,538
  • Jul 31, 2012 9:31pm Jul 31, 2012 9:31pm
Quoting Vantage
8lwma.
Thanks, apologies, if you had a pip for every time you've been asked that right?
  • #5,539
  • Jul 31, 2012 9:43pm Jul 31, 2012 9:43pm
Quoting Hyperion
Thanks, apologies, if you had a pip for every time you've been asked that right?
No problem.
  • #5,540
  • Aug 2, 2012 9:41pm Aug 2, 2012 9:41pm
Quoting Vantage
A very nice chart. I'd follow the same principles. D has divergence, 4 hr also with RSI cross down. So it would be scalp sells from 1hr lower highs to confirm neg flow. So yes I'd agree with chance to sell intraday. There is a support level that its bounced up from (and another just below that), at the moment hl/hh flow broken.

Would look to get back to trend though if that signals possibly with an intraday hl on 1hr in US session.
This support level proving a little tougher to crack.
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