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Higher low, lower high system

  • #5,661
  • Oct 23, 2012 6:23am Oct 23, 2012 6:23am
Just sneezed twice - not want you want to be doing with a sore back.
  • #5,662
  • Oct 23, 2012 6:32am Oct 23, 2012 6:32am
As previously mentioned health issues have dictated a change in our trading style. At the moment still taking entries off 5 min, Mrs V will try to get a portion off at +20-30 with small stop, then walking away. It'll be interesting seeing which trades survive to hit target. So we could potentially have several trades running in 1 move.

Anyway my back is now saying enough so I'm outta here.
  • #5,663
  • Oct 23, 2012 7:53am Oct 23, 2012 7:53am
I got in to that one also nice engulfing close on the 15min. Got to BE just before i needed to go out for appointment, came back and target hit, out at the RN. Nice when it works out like that. Hope your Backs are feeling better soon Mr & Mrs V.
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  • #5,664
  • Oct 23, 2012 8:36am Oct 23, 2012 8:36am
Quoting scurvy dog
I got in to that one also nice engulfing close on the 15min. Got to BE just before i needed to go out for appointment, came back and target hit, out at the RN. Nice when it works out like that. Hope your Backs are feeling better soon Mr & Mrs V.
Cheers.

Bouncing as expected from the W M2 pivot, so far its also weak bounce up so trade on track. Will move stop to BE now.
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  • #5,665
  • Oct 23, 2012 10:06am Oct 23, 2012 10:06am
The W pivots and SR levels showing how important they are yet again. Move up on 22nd contained by W M3. Stall on move down at W pivot. Now again stall at W M2. Heading into London close reversal time that may provide a bounce.

Plan for tomorrow will be (pa permitting) a lh sell, partial tp and then again targets at W S1 and perhaps leaving a portion for W M1.
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  • #5,666
  • Oct 23, 2012 10:28am Oct 23, 2012 10:28am
Quoting Vantage
The W pivots and SR levels showing how important they are yet again. Move up on 22nd contained by W M3. Stall on move down at W pivot. Now again stall at W M2. Heading into London close reversal time that may provide a bounce.

Plan for tomorrow will be (pa permitting) a lh sell, partial tp and then again targets at W S1 and perhaps leaving a portion for W M1.
I never used to take Pivots seriously until I started to read this thread in depth. I have mucho respect for them now. It really is quite amazing how price reacts to them especially the weekly's
  • #5,667
  • Oct 23, 2012 11:38pm Oct 23, 2012 11:38pm
Recap 23 Oct - EUR lower high, neg engulfing close, below RSI 50 level on 4hr set up move down.

24 Oct.

EUR - D lower high, neg engulfing close. 4hr and 1hr lower high lower low flow in tact. Bias down.

We are right on the R level from 9 and 12 Oct (clearly seen on 4hr). Above that we have the D pivot/RN then the W pivot 19/22 Oct lows 1.3017. That will hopefully protect our remaining position stop at BE. Target 1.2902.
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  • #5,668
  • Oct 24, 2012 3:01am Oct 24, 2012 3:01am
Quoting Vantage
Recap 23 Oct - EUR lower high, neg engulfing close, below RSI 50 level on 4hr set up move down.

24 Oct.

EUR - D lower high, neg engulfing close. 4hr and 1hr lower high lower low flow in tact. Bias down.

We are right on the R level from 9 and 12 Oct (clearly seen on 4hr). Above that we have the D pivot/RN then the W pivot 19/22 Oct lows 1.3017. That will hopefully protect our remaining position stop at BE. Target 1.2902.

Stop to 1.3004 ahead of news.
  • #5,669
  • Oct 24, 2012 6:12am Oct 24, 2012 6:12am
25% out at +105, 15% left stop at 1.2962.
  • #5,670
  • Oct 24, 2012 6:18am Oct 24, 2012 6:18am
Quoting Vantage
25% out at +105, 15% left stop at 1.2962.
Mrs V did not get an entry to sell again today so this is still the trade from yesterday.

Whilst we seem to have another weak pre US session move up and a poss 2b type entry back into London session move down with Draghi speaking in 30 mins will not enter again.
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  • #5,671
  • Oct 24, 2012 6:33am Oct 24, 2012 6:33am
Quoting Vantage
Mrs V did not get an entry to sell again today so this is still the trade from yesterday.

Whilst we seem to have another weak pre US session move up and a poss 2b type entry back into London session move down with Draghi speaking in 30 mins will not enter again.
Very nice trade Vantage, what happened to 20 pip bank h-o-f?

I nearly sold the double top just after LO but we were just above overnight resistance level and had just had 1 hr pos close at end of FH so my finger remained hovering above the mouse sadly. Would have been a nice 4R trade.

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Follow, don't anticipate.
  • #5,672
  • Oct 24, 2012 6:38am Oct 24, 2012 6:38am
Quoting Vantage
25% out at +105, 15% left stop at 1.2962.
Nice shooting!

V, I took the trade attached. just wondering if you would of classed this as a valid trade if you were operating on a shorterm basis? I was stopped out and Iam know thinking i should have gone to BE after that rejection of the lows.
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  • #5,673
  • Edited 11:39pm Oct 24, 2012 11:24pm | Edited 11:39pm
Quoting Ian
Very nice trade Vantage, what happened to 20 pip bank h-o-f?

I nearly sold the double top just after LO but we were just above overnight resistance level and had just had 1 hr pos close at end of FH so my finger remained hovering above the mouse sadly. Would have been a nice 4R trade.

Attachment
Mrs V's back issues means she can no longer sit in front of the charts for the day. If she does get a 5 min entry fine, if not could be entry from 1hr. So she cannot keep scalping over a long period.

Focus now

 

  1. 1hr flow + engulfing closes a bonus
  2. Good angle up/down on 1hr 8lwma and 32lwma (would need very good reason to go against that direction)
  3. 4hr engulfing closes

Selling the 2b type trade is usually good. If not working you have to be quick, 2b failure should give a hl above the recent range. It would be pretty rare for a 2b to fail giving a hl and that hl to fail also.

  • #5,674
  • Edited Oct 25, 2012 6:11am Oct 24, 2012 11:35pm | Edited Oct 25, 2012 6:11am
Quoting scurvy dog
Nice shooting!

V, I took the trade attached. just wondering if you would of classed this as a valid trade if you were operating on a shorterm basis? I was stopped out and Iam know thinking i should have gone to BE after that rejection of the lows.
Hi scurvy dog

I would hope I wasn't in that trade the 3rd entry, if I was I would have exited with as small as possible loss when if failed twice at the lows.

When London session has had a quick move don't take the 3rd lower high. There was a 2b type entry at the top, then a wait 20 mins and try again.

Its a high risk entry. So avoid 3rd entry from LO quick moves down (60 pips or so) and 20-30 pip retrace. If price goes sideways in a small range at the extremes of the (say) 60 pip move we'll re-enter on break of lows but not the more aggressive entry.

I hope I have made the distinction clear. There are few things in this world that get me upset but Mrs V taking 3rd entry (ie 3rd lh/hl) on strong LO push (as her first trade) without waiting for the low to break is one of them.
  • #5,675
  • Oct 25, 2012 2:16am Oct 25, 2012 2:16am
I keep coming back to the first page of this thread..first post..and the explanation of the hier low lower.. hi and use it over and over again on all time frames..I must have read that 10 times before it finaly dawned on me what V was saying.. BRILLIANT..best explanation of patten ever..
  • #5,676
  • Oct 25, 2012 3:13am Oct 25, 2012 3:13am
Quoting danc
I keep coming back to the first page of this thread..first post..and the explanation of the hier low lower.. hi and use it over and over again on all time frames..I must have read that 10 times before it finaly dawned on me what V was saying.. BRILLIANT..best explanation of patten ever..
Just to be clear, yes best trade is first hl/lh i.e. at the recent pa extreme. If that happens before 1hr has closed so be it.

If you miss that then its the 5 min hl/lh that occurs right on the close of 1st 1hr candle in move or 5 min hl/lh that follows the close.

So entry should be in the 1st or perhaps 2nd 5 min hl/lh in move. If we miss those then we would typically wait for US session.

Hey danc with that kind of praise you owe me a V!!!
  • #5,677
  • Oct 25, 2012 3:26am Oct 25, 2012 3:26am
Quoting Vantage
Hi scurvy dog

I would hope I wasn't in that trade the 3rd entry, if I was I would have exited with as small as possible loss when if failed twice at the lows.

When London session has had a quick move don't take the 3rd lower high. There was a 2b type entry at the top, then a wait 20 mins and try again.

Its a high risk entry. So avoid 3rd entry from LO quick moves down (60 pips or so) and 20-30 pip retrace. If price goes sideways in a small range we'll re-enter on break of lows but not the more aggressive entry.

I hope I have made the distinction...

Brilliant, Its great to get feedback from someone more experienced, so many thanks for that Vantage
  • #5,678
  • Oct 25, 2012 7:35am Oct 25, 2012 7:35am
Quoting Vantage
Just to be clear, yes best trade is first hl/lh i.e. at the recent pa extreme. If that happens before 1hr has closed so be it.

If you miss that then its the 5 min hl/lh that occurs right on the close of 1st 1hr candle in move or 5 min hl/lh that follows the close.

So entry should be in the 1st or perhaps 2nd 5 min hl/lh in move. If we miss those then we would typically wait for US session.

Hey danc with that kind of praise you owe me a V!!!
Are you saying that you try and get in fast before a new 5 minute trend starts?
Or the first pullback after the 5 minute trend is confirmed?
Is it A) or B) on the chart picture I uploaded?

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  • #5,679
  • Oct 25, 2012 10:17am Oct 25, 2012 10:17am
Quoting zola
Are you saying that you try and get in fast before a new 5 minute trend starts?
Or the first pullback after the 5 minute trend is confirmed?
Is it A) or B) on the chart picture I uploaded?

They are both valid entries. The trade marked A would be a typical hl at the extreme of pa. If trade A is missed then B would likely be after close of 1hr candle. Of course your range bars don't reflect time.
  • #5,680
  • Oct 25, 2012 10:33am Oct 25, 2012 10:33am
Quoting Vantage
Hi scurvy dog

Its a high risk entry. So avoid 3rd entry from LO quick moves down (60 pips or so) and 20-30 pip retrace. If price goes sideways in a small range at the extremes of the (say) 60 pip move we'll re-enter on break of lows but not the more aggressive entry.

I hope I have made the distinction clear. There are few things in this world that get me upset but Mrs V taking 3rd entry (ie 3rd lh/hl) on strong LO push (as her first trade) without waiting for the low to break is one of them.
Just showing the point. Price had a strong early move up that was before Mrs V got to computer. Price went sideways and entry is after the extreme range broken.

1hr has good flow and ma angle up, above 32lwma (so we know 4hr trend also OK). We have engulfing 1hr positive closes.

She exited just shy of +50. Price had then run about 100 pips already and we were at a W pivot.
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