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Higher low, lower high system

  • #6,001
  • Feb 20, 2013 2:09am Feb 20, 2013 2:09am
is this candle 3 bar reversal?
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Persian Gulf forever
  • #6,002
  • Feb 20, 2013 2:17am Feb 20, 2013 2:17am
Quoting parsfx
is this candle 3 bar reversal?
Yes.
  • #6,003
  • Feb 20, 2013 4:14am Feb 20, 2013 4:14am
Quoting Vantage
Dinner time so I'm outta here. Stop at BE hoping this one pops up over night.
Did pop up then fell 100 pips to miss our stop with 2!! Not feeling my broker is a shark at the moment. Moved back up out at +48.
  • #6,004
  • Feb 20, 2013 4:43am Feb 20, 2013 4:43am
Quoting Vantage
Did pop up then fell 100 pips to miss our stop with 2!! Not feeling my broker is a shark at the moment. Moved back up out at +48.


Hi vantage could u kindly explain the sys with ur last trade it seems entry changed from 5min timeframe to 15min timeframe this could help many of us am sure am not the only one,av gone though the thread and i understand u wait for a candle pattern in 1h and entry off 15min timeframe lh/hl
this is a humble request post charts with both timeframes and how u took the trades please
thankyou gregwilson
  • #6,005
  • Feb 20, 2013 5:13am Feb 20, 2013 5:13am
Quoting njokie
Hi vantage could u kindly explain the sys with ur last trade it seems entry changed from 5min timeframe to 15min timeframe this could help many of us am sure am not the only one,av gone though the thread and i understand u wait for a candle pattern in 1h and entry off 15min timeframe lh/hl
this is a humble request post charts with both timeframes and how u took the trades please
Hi there njokie

Theres no point in putting up a 1hr chart as you have correctly spotted this trade was not done with that in mind. The 15 min chart is here http://www.forexfactory.com/showthre...67#post6457567 see the engulfing close highlighted by the arrow up in the box.

Price was at a proven support level, waited for US to open, still didn't want to go down, prepared to buy 15 min chart back into what we had as D bias.

If you are going to stretch your rules do it (a) in trend or (b) at an extreme of range when you have solid reasons. So this was not oh we have 1 x decent 15 min candle, it was hours of not wanting to go lower that set this buy up.

And yes we are taking entries off 15 now, Mrs V usually pressing the buttons for us and thats what she prefers.
  • #6,006
  • Feb 20, 2013 5:49am Feb 20, 2013 5:49am
Quoting Vantage
Hi there njokie

Theres no point in putting up a 1hr chart as you have correctly spotted this trade was not done with that in mind. The 15 min chart is here http://www.forexfactory.com/showthre...67#post6457567 see the engulfing close highlighted by the arrow up in the box.

Price was at a proven support level, waited for US to open, still didn't want to go down, prepared to buy 15 min chart back into what we had as D bias.

If you are going to stretch your rules do it (a) in trend or (b) at an extreme of range when you have...

ok thankyou very much i follow you now,funny enough i was waiting for those lows to be broken and sell on retrace but its formed a higher low and i wanst supposed to buy but my brain wanst fast to realise its time to buy .....al watch closely and post charts i like 15min timeframe
thankyou gregwilson
  • #6,007
  • Feb 20, 2013 8:27am Feb 20, 2013 8:27am
Hi Van

Is this right formation for entry?

frank
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  • #6,008
  • Feb 20, 2013 8:47am Feb 20, 2013 8:47am
Quoting frank.david
Hi Van

Is this right formation for entry?

frank
The candle formation is right so a 15 min hl with little/no upper wick should be a buy. It has been such a struggle over the last few days to go higher I wonder if this last G20 has given JPY pause. Last 2 days no follow through from this general area in US session, needed Asia to give a move.

This would not be as tight an entry at the moment as we got Y to the lows of range. Personally I'd say take care. Sometimes this cautious approach means I miss on trades but sometimes you avoid some pain.

The uptrend for now seems to be stalling. Or perhaps there might be a better entry later?
  • #6,009
  • Feb 20, 2013 11:26am Feb 20, 2013 11:26am
Quoting Vantage
It has been such a struggle over the last few days to go higher I wonder if this last G20 has given JPY pause. Last 2 days no follow through from this general area in US session, needed Asia to give a move.

This would not be as tight an entry at the moment as we got Y to the lows of range. Personally I'd say take care. Sometimes this cautious approach means I miss on trades but sometimes you avoid some pain.

The uptrend for now seems to be stalling. Or perhaps there might be a better entry later?
I'm happy with that call not to buy EJ at 125.50 after the 1hr close.
  • #6,010
  • Feb 20, 2013 10:33pm Feb 20, 2013 10:33pm
Recap 20 Feb

20 Feb

EUR - View was: We stopped at the W M3 pivot 1.3439. Cannot explain why I have doubts about this move up but charts say bias up. Price stalled at the Asian highs/W M3 for 4hrs with divergence on 1hr. The main part of the fall happened after we stopped trading.

GU - View was: We are in the area of July '12 lows 1.5400/25. 4hr, 1hr flow down. Bias down. Strong fall on the news.

EJ - View was: 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. We did get the engulfing negative close and move down.

EUR GU EJ 21 Feb

EUR - D lower high, engulfing negative close. 13260 gave support for about a week in Jan. The D close should follow through lower, bias down.

GU - Bias down.

EJ - D lower high, engulfing negative close. 1hr lower high lower low flow. Bias down, support level 123.00. I wonder when the JPY authorities will work to push yen up again?
  • #6,011
  • Feb 20, 2013 10:35pm Feb 20, 2013 10:35pm
Quoting Vantage
I'm happy with that call not to buy EJ at 125.50 after the 1hr close.

Hi Van

Absolutely you were right that EJ buy signal has no good result.

Last 2 days no follow through from this general area in US session.
(consolidation there were PRZ).

thanks
  • #6,012
  • Feb 20, 2013 10:43pm Feb 20, 2013 10:43pm
Quoting frank.david
Hi Van

Absolutely you were right that EJ buy signal has no good result.

Last 2 days no follow through from this general area in US session.
(consolidation there were PRZ).

thanks
Van what should we check to avoid fake entry like this? (has good candle formation but proved fake)improving checklist.
  • #6,013
  • Feb 20, 2013 10:53pm Feb 20, 2013 10:53pm
Quoting frank.david
Van what should we check to avoid fake entry like this? (has good candle formation but proved fake)improving checklist.
Thats really tricky, normally a set up like that, positive close at/just breaking high of immediate range, in trend is really good. However the month of Feb so far has not been the EJ trend that we have had over the last few months.

If you have any doubts then need to be getting into buy closer to the extreme of pa. In this case the lows that had formed 124.91 at the W pivot. That 1hr candle was 60 pips.

Then look to the left of chart. Literally I saw that US session did not buy at that level for 2 days, why not if the trend is in place? If US session weren't buyers for 2 days then why today? Something was not right, could it have gone up sure, I don't mind missing an opportunity and would have accepted that if it did run up.
  • #6,014
  • Feb 20, 2013 11:04pm Feb 20, 2013 11:04pm
Quoting frank.david
Van what should we check to avoid fake entry like this? (has good candle formation but proved fake)improving checklist.
Have a look at the 3 days of sideways pa 18-20 Feb on 1hr. Have a look at other ej consolidation times 9/10 Jan, 23/24 Jan, 28/29 Jan. How does the flow look between the stalls that moved and this one that didn't? Look each time at say 3 days on 1hr chart.
  • #6,015
  • Feb 20, 2013 11:59pm Feb 20, 2013 11:59pm
Quoting Vantage
Have a look at the 3 days of sideways pa 18-20 Feb on 1hr. Have a look at other ej consolidation times 9/10 Jan, 23/24 Jan, 28/29 Jan. How does the flow look between the stalls that moved and this one that didn't? Look each time at say 3 days on 1hr chart.



positive close at/just breaking high of immediate range, in trend is really good.

that EJ buy potential candle was between the range the last left.A entry could be possible only support level of that range which is round 50 pips trade.

Very helpful

  • #6,016
  • Feb 21, 2013 1:04am Feb 21, 2013 1:04am
Hey Dave.

Really enjoying this thread.

Can you please post your template and indicators. It seems that my weekly pivots is a bit off and I am looking for the 3 bar reversal indicator.

Keep up the good work.

Kind regards

  • #6,017
  • Feb 21, 2013 1:53am Feb 21, 2013 1:53am
Quoting matlobien
Hey Dave.

Really enjoying this thread.

Can you please post your template and indicators. It seems that my weekly pivots is a bit off and I am looking for the 3 bar reversal indicator.

Keep up the good work.

Kind regards

Cheers mate, always a pleasure.

Will post a little later my work set up is slightly different to home due to screen size.
  • #6,018
  • Feb 21, 2013 2:02am Feb 21, 2013 2:02am
Yesterday GU storm after News came to the notice board (UN Emlymnt).Do you pause trading after/before news or have a plan for this?

frank
  • #6,019
  • Feb 21, 2013 2:53am Feb 21, 2013 2:53am
Quoting Vantage
Cheers mate, always a pleasure.

Will post a little later my work set up is slightly different to home due to screen size.
Thought you were a full time trader..
My Mantra - Go with the flow until a key level is hit
  • #6,020
  • Feb 21, 2013 8:28am Feb 21, 2013 8:28am
Quoting Vantage
Aha now that I've seen your chart it was at Y's high/W S2 so if you had a down bias like we did the 15 min double top would have been a nice trade back into trend. Haven't checked to see if right before news. Not that Mrs V (if trading) is scared off by that. Excluding the biggies NFP, interest rate day EUR and UK and UK int rate minutes she is not scared by the news at all. She is one of those that believes the big boys pretty much know whats coming and provided candles are clean and pa is not visibly jumpy (spiking really crazy whilst candle being...
Hi Van

is this all about news plan or something need to added?

frank
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