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Higher low, lower high system

  • #5,981
  • Feb 18, 2013 10:48pm Feb 18, 2013 10:48pm
Not a lot happened yesterday with the US holiday.

19 Feb

I'll retain the bias from 18th.

EUR - Bias down with potential move up from the support level.

GU - Bias down with potential move up from the support level.

EJ - Bias up.
  • #5,982
  • Feb 18, 2013 11:05pm Feb 18, 2013 11:05pm
Quoting Vantage
Oct and Nov were superb, Dec and Jan weren't as she was either on holiday or not well to trade. She has missed oh 5 days this month at least and results so far are 12-2.
Forgot to say of her 2 losing trades 1 was none system. She went off plan took a flyer, took a knock, an awful trade but she (hopefully) learned lots from it i.e. stick to plan results are great when you do. Why consider anything else.

The result she does not want to hear a single word about any other trading method or what anyone else is doing. Focus, focus, focus.
  • #5,983
  • Feb 18, 2013 11:14pm Feb 18, 2013 11:14pm
One of the things we did pick up on, in her most recent losing trades over the last few months. When 1hr has back to back hammer/shooting star, even when following trend there were losing trades. Its only a very small sample but when something like 4 of 6 last losing (system) trades is this exact set up it should get your interest. We treat hammers/shooting stars back to back with a lot more respect.

This chart is just an example not a trade taken.

In this case after the hammer we'd be thinking buy perhaps, getting in and the low of the hammer was failing, in the 1hr candle immediately following the hammers close.
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  • #5,984
  • Feb 19, 2013 2:25am Feb 19, 2013 2:25am
Very true. I've myself did trade such pattern many times just to see it hit my SL.
Reasons why I wouldn't take that trade now is that it's in Asian session during which the liquidity is so low and also market in choppy zone at the moment.
I'd wait for a good setup and pull the trigger..
My Mantra - Go with the flow until a key level is hit
  • #5,985
  • Feb 19, 2013 3:41am Feb 19, 2013 3:41am
[quote=Vantage;6455600
I'll retain the bias from 18th.

EUR - Bias down with potential move up from the support level.

GU - Bias down with potential move up from the support level.

EJ - Bias up.[/quote]

Hi Van,

EJ still bias up ? 1hr made a lower high lower low during Tokyo session with RSI below 50, 4hr also RSI below 50.
Are you hunting for long ?

Thanks
  • #5,986
  • Feb 19, 2013 9:19am Feb 19, 2013 9:19am
Hi Van

were there setup on chart today for you or movement was not good for entry?

frank
Attached Image(s) (click to enlarge)
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  • #5,987
  • Feb 19, 2013 9:26am Feb 19, 2013 9:26am
Hi Van

congratulations on 400 full of knowledge pages Best Thread ever.Please keep it up.

frank
  • #5,988
  • Feb 19, 2013 10:09am Feb 19, 2013 10:09am
Quoting VincentVega
Hi Van,

EJ still bias up ? 1hr made a lower high lower low during Tokyo session with RSI below 50, 4hr also RSI below 50.
Are you hunting for long ?

Thanks
The 1hr lower high shooting star at Frankfurt open was a good sell, even if counter to the up bias. That was too early for Mrs V.

We are in long at 124.85, pushed up to 125.20 and came back, will exit at BE if RN holds.
  • #5,989
  • Feb 19, 2013 10:17am Feb 19, 2013 10:17am
Quoting frank.david
Hi Van

congratulations on 400 full of knowledge pages Best Thread ever.Please keep it up.

frank
Cheers.

As you'll see from above post I liked the EJ Frankies hour sell. If you missed that then the next 1hr candle ran to far to get into what was CT to the days view. There was not a lot else until the US session, Mrs V bought the bounce of days support area 124.64.
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  • #5,990
  • Feb 19, 2013 10:33am Feb 19, 2013 10:33am
Quoting Vantage
Cheers.

As you'll see from above post I liked the EJ Frankies hour sell. If you missed that then the next 1hr candle ran to far to get into what was CT to the days view. There was not a lot else until the US session, Mrs V bought the bounce of days support area 124.64.
Reached M2 at 125.20, stop moved to BE.
  • #5,991
  • Feb 19, 2013 10:53am Feb 19, 2013 10:53am
Quoting Vantage
Reached M2 at 125.20, stop moved to BE.
Mrs V is making those leave overnight noises, EJ due for a pop up.

We have an open 4hr candle, if it closes strongly that should signal one of the 2 or 3 decent trades that happen a week from 4hr.
Attached Image (click to enlarge)
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  • #5,992
  • Feb 19, 2013 11:20am Feb 19, 2013 11:20am
Quoting Vantage
Mrs V is making those leave overnight noises, EJ due for a pop up.

We have an open 4hr candle, if it closes strongly that should signal one of the 2 or 3 decent trades that happen a week from 4hr.
Dinner time so I'm outta here. Stop at BE hoping this one pops up over night.
  • #5,993
  • Feb 19, 2013 11:23am Feb 19, 2013 11:23am
Quoting Vantage
Cheers.

As you'll see from above post I liked the EJ Frankies hour sell. If you missed that then the next 1hr candle ran to far to get into what was CT to the days view. There was not a lot else until the US session, Mrs V bought the bounce of days support area 124.64.

Hi Van

what about any entry on GU and EU today?

frank
  • #5,994
  • Feb 19, 2013 11:24am Feb 19, 2013 11:24am
Quoting frank.david
Hi Van

what about any entry on GU and EU today?

frank
Sorry have to go will look again tomorrow.
  • #5,995
  • Feb 19, 2013 12:14pm Feb 19, 2013 12:14pm
Quoting Vantage
Sorry have to go will look again tomorrow.

Ok Van
  • #5,996
  • Feb 19, 2013 1:02pm Feb 19, 2013 1:02pm
Entry was late by few pips..
Red line is the SL..
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My Mantra - Go with the flow until a key level is hit
  • #5,997
  • Feb 19, 2013 10:03pm Feb 19, 2013 10:03pm
Quoting frank.david
Hi Van

what about any entry on GU and EU today?

frank
With 2 upper wicks on 1hr the arrow down left after 3 hr pause in move up was a nice trade. 15 min lower high, 3 bar reversal, little/no lower wick back into down bias.

The arrow down right is another lower high, little/no lower wick. It was against the closed 1hr but took out the 1hr candle low. A small stop would be required so a nice trade.
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  • #5,998
  • Feb 19, 2013 10:08pm Feb 19, 2013 10:08pm
Quoting money89
Entry was late by few pips..
Red line is the SL..
Nice one money89. From the looks of things thats the same kind of entry that we took on EJ. I had EUR bias down with chance to bounce from support and the W M2 pivot with divergence held for 7 hours.

For Franks benefit I think the same US session positive close on 15 min would have been the trigger.
  • #5,999
  • Feb 19, 2013 10:39pm Feb 19, 2013 10:39pm
Recap 19 Feb

EUR - View was bias down with potential move up from the support level. W M2 1.3332 held for 7 hours and gave buys after US open and then a little later in session.

GU - Bias down with potential move up from the support level. We did move down after 3hours failing to go up and 2 decent upper wicks on 1hr..

EJ - Bias was up, it played out when support level held for approx 7 hours.

20 Feb

MPC minutes this morning one of the days I will either trade early or wait until after the news.

EUR - Positive D close off the 1.33 support area, slight RSI divergence. 1hr flow now higher high higher low. We stopped at the W M3 pivot 1.3439. Cannot explain why I have doubts about this move up but charts say bias up.

GU - D negative close, RSI not moving lower. We are in the area of July '12 lows 1.5400/25. 4hr, 1hr flow down. Bias down.

EJ - D close did nothing, moving up over night in Asian session. 1hr flow down after the double top 125.90. A solid 1hr engulfing close would confirm move up. Bias up but a negative, engulfing close on 4hr could change that.
  • #6,000
  • Feb 19, 2013 10:45pm Feb 19, 2013 10:45pm
This might be a blown trade. Had TP just below RN hoping that W pivot would get pushed through. It didn't, amended TP and just have to hope we push up to test the double top (see 4hr chart) for a 3rd time.

I'm not holding my breath, Mrs V wants us to leave I think 40 pips here is still a decent trade.
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