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Higher low, lower high system

  • #6,081
  • Mar 1, 2013 1:59am Mar 1, 2013 1:59am
GM Dave - thanks for your kind words

Whilst € fell all day yesterday from its overnight high, UJ hit its 92 handle at 0945 GMT and then rallied 85 pips into the US afternoon. Thus with EJs two components in opposition, it went sideways.

Now we know that the two bills to stop US Sequester cuts have failed, what will this do to yesterday's dollar strength? I guess that there will be plenty of rumours to move it around up to the 3pm EST trigger time - so I'll be happy to bank any pips that come my way.

Let's see what the Londoners think....
Trading Levels with WRBs
  • #6,082
  • Mar 1, 2013 2:11am Mar 1, 2013 2:11am
TVI indy as requested - as I have said, I use it mainly for divergence, especially on the lower TFs
Attached File(s)
File Type: mq4 TVI_v2.mq4   9 KB | 277 downloads
Trading Levels with WRBs
  • #6,083
  • Mar 1, 2013 2:12am Mar 1, 2013 2:12am
Quoting Islander
GM Dave - thanks for your kind words

Whilst € fell all day yesterday from its overnight high, UJ hit its 92 handle at 0945 GMT and then rallied 85 pips into the US afternoon. Thus with EJs two components in opposition, it went sideways.

Now we know that the two bills to stop US Sequester cuts have failed, what will this do to yesterday's dollar strength? I guess that there will be plenty of rumours to move it around up to the 3pm EST trigger time - so I'll be happy to bank any pips that come my way.

Let's see what the Londoners think....
Don't generally trade on Fri mornings things often a bit of a mess but then don't have your particular skill set!! With fiscal cliffs looming (prob why the last few days have not followed through as much as usual) happy to sit back a little.
  • #6,084
  • Mar 1, 2013 2:17am Mar 1, 2013 2:17am
Quoting Islander
TVI indy as requested - as I have said, I use it mainly for divergence, especially on the lower TFs
I'll look at that and see if there are advantages over the RSI we use. I'll investigate the volume indi as well. Haven't used that for ages. Mrs V hates changes and things have to be definite improvements for her to take on board.

PS had our best month ever, by far, last month going with the flow following trend and specific rules in place to consider CT.
  • #6,085
  • Mar 1, 2013 2:19am Mar 1, 2013 2:19am
Quoting Islander
TVI indy as requested - as I have said, I use it mainly for divergence, especially on the lower TFs

  • #6,086
  • Mar 1, 2013 2:37am Mar 1, 2013 2:37am
Quoting Vantage
I'll look at that and see if there are advantages over the RSI we use. I'll investigate the volume indi as well. Haven't used that for ages. Mrs V hates changes and things have to be definite improvements for her to take on board.

PS had our best month ever, by far, last month going with the flow following trend and specific rules in place to consider CT.

That's great, rules, discipline and patience are the grail of trading

I still start around FO on the 5 min chart and Sonic's volume indy - attached in case anyone likes to try it! - was a great alert to take notice. With € and UJ both moving up in harmony the 5 min HL in EJ off yesterdays closing level - from that old SDX pivots indy - offered ~50 pips to start the day
Attached File(s)
File Type: mq4 SonicR PV Histogram (Black).mq4   13 KB | 275 downloads
File Type: mq4 SonicR PV Histogram (White).mq4   13 KB | 292 downloads
Trading Levels with WRBs
  • #6,087
  • Mar 1, 2013 4:25am Mar 1, 2013 4:25am
Quoting Islander
GM Dave - thanks for your kind words

Whilst € fell all day yesterday from its overnight high, UJ hit its 92 handle at 0945 GMT and then rallied 85 pips into the US afternoon. Thus with EJs two components in opposition, it went sideways.


Let's see what the Londoners think....
Hi Islander

That's mean when UJ and EU walk opposite then avoid EJ trade?

I think same condition seems today.

you don't go on EJ when you see this?

frank
  • #6,088
  • Mar 1, 2013 4:34am Mar 1, 2013 4:34am
Quoting frank.david
Hi Islander

That's mean when UJ and EU walk opposite then avoid EJ trade?

I think same condition seems today.

you don't go on EJ when you see this?

frank

Simply put, when EU and UJ are moving in opposite directions, EJ is more difficult to trade.

As I have charts from EU, UJ & EJ all open in each TF that I watch, once I see that EU & UJ are no longer moving in the same direction, I will concentrate just on EU.

This was an easy decision this morning once EU hit its 3100 handle at 08:20 gmt and turned down.
Trading Levels with WRBs
  • #6,089
  • Mar 1, 2013 4:44am Mar 1, 2013 4:44am
I have this page set up for 5m, 15m & 60m charts to give me a quick overview. I can then maximize or minimize individual charts as required
Attached Image (click to enlarge)
Click to Enlarge Name: mar 1 € ej uj 5m 1036.gif Size: 70 KB
Trading Levels with WRBs
  • #6,090
  • Mar 1, 2013 7:42am Mar 1, 2013 7:42am
Quoting Islander
I have this page set up for 5m, 15m & 60m charts to give me a quick overview. I can then maximize or minimize individual charts as required
Great MTFA
  • #6,091
  • Mar 1, 2013 9:55am Mar 1, 2013 9:55am
The fib expansion - here the -.618 - was my final exit for the last of my € shorts. I'd TPd earlier at the 3000 level and then sold the pull back, so a good day although I took a couple of small hits in EJs chop.
Attached Image (click to enlarge)
Click to Enlarge Name: mar 1 € 60m 1550 gmt.gif Size: 22 KB
Trading Levels with WRBs
  • #6,092
  • Mar 1, 2013 2:05pm Mar 1, 2013 2:05pm
Quoting Islander
I have this page set up for 5m, 15m & 60m charts to give me a quick overview. I can then maximize or minimize individual charts as required
Hi Islander! What indicator is this?! (seems like 2 MA and the zone between them is red or green, when the price is up it is green and when the price move down is red)
  • #6,093
  • Mar 2, 2013 12:46am Mar 2, 2013 12:46am
Quoting Islander
Hi Dave - here's my current 15m set up.

At turns I look for an increase in volume, TVI divergence and price around "a level" - at 01:00 the first two were present and price had failed to make the 50% retrace of the big fall, so by the London Open it was just a matter of choosing an entry.
Hi Islander

Thanks as much as I don't want to even think of messing with Mrs V's set up at the moment (if you didn't know she is pressing the buttons for us) as she has more than doubled my best ever month. OK she is generally trading double the risk % I did but still if it ain't broke.

That notwithstanding 2 lines there with an absolute wealth of info from one of the better traders around and anyone looking to get some wisdom on turns in and around LO would do themselves a great service by sitting up and taking notice.

1st reaction yes a spike in volume does seem to signal either a turn or stall (once the day is under way). TVI divergence appears clear. I'll forward these to my work set up. Will definitely watch these to see going forward if we introduce a small tweak.

Cheers.
  • #6,094
  • Mar 2, 2013 1:12am Mar 2, 2013 1:12am
Quoting Vantage
1 Mar EUR GU EJ

EUR - D negative close as 3 bar reversal, the previous morning star pattern did not play out, the upper resistance level 1.3166 held. 1hr flow now lower high lower low. Bias down.

GU - D closed a narrow range shooting star. No bias.

EJ - D closed also a very narrow range. 4hr and 1hr look sideways no bias.

It appears the fiscal cliff that was pushed back until today has been holding the markets back somewhat.
Mrs V did not trade at all on Fri due to back issues so these are not trades taken but a run through comparing Islanders set up to how we would normally look at things.

The LO 10am candle up we did have a 3 bar reversal alert on the prev candle close its at the low of the range, no idea if that would have been taken. There was a small positive 1hr higher low close but it was CT and against the EUR view for the day.

Islanders combo of higher vol, divergence (the TVI is really clear compared to RSI in this instance) and a level (RN and D pivot 1.3090) does a clear job in this instance of alerting a possible turn.

The LO move up above the immediate range fails so the odds of the move down being the direction for the day is very high. 1hr closes a long legged doji so move back into down trend expected. We get a 3 bar reversal down signal for an entry around 1.3061.

W M1 gets hit and a bounce another 3 bar reversal sell signal.

Price drops to the 62% ext of Y's range/S2 1.2980 area, pauses with vol spike. Then we get further 3 bar reversal entries with vol spike at W S2. W S2 would be a natural exit level in any event for us, the vol spike would be a nice alert.

We would have been finished by then but high vol, W S2, divergence, 15 min hl, 3 bar reversal into London close reversal time would have signaled a buy around 1.2985.

Interesting stuff, thanks again Islander.
Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 21 KB
  • #6,095
  • Mar 2, 2013 1:44am Mar 2, 2013 1:44am
The lower high following negative divergence and higher low following positive divergence is a set up I love. Add in for the sell at the high that its returning to trend. I've taken thekey levels off see chart above. At important times of day i.e. after LO and London close reversal with the added info from vol spike.
Attached Image (click to enlarge)
Click to Enlarge Name: 3.gif Size: 14 KB
  • #6,096
  • Mar 2, 2013 1:53am Mar 2, 2013 1:53am
Knowing Islander for years now at FF there is zero % chance that he hasn't back tested the heck out of this set up. Thats no excuse for me not to do the same. So its going to be a good few hours checking the set up to see what does it add to the way we do things. I suspect that it will change little in the way trades are taken. What it may do is a better visual on the 15 min for alerting to divergence so a swop of TVI for RSI (will keep RSI on HTF for divergence and view of trend above/below 50 and RSI crosses) and possible addition of the vol indi, vol spikes poss direction change (remembering the other criteria of key levels and divergence).
  • #6,097
  • Mar 2, 2013 6:03am Mar 2, 2013 6:03am
Hi Dave - as I'm still just looking at a couple of hours around FO/LO on the lower TFs including the 1 min, I don't feel I should post my usual set-ups here and mix this with what you and Mrs V are doing so well - so I've decided to re-active my old thread and I'll do an update there on Page 280.
I'll still pop in when I can add something from my 15m charts and obviously help if you find any of my input useful.
Cheers
Islander

http://www.forexfactory.com/showthread.php?t=214628
Trading Levels with WRBs
  • #6,098
  • Mar 2, 2013 6:33am Mar 2, 2013 6:33am
Quoting Islander
Hi Dave - as I'm still just looking at a couple of hours around FO/LO on the lower TFs including the 1 min, I don't feel I should post my usual set-ups here and mix this with what you and Mrs V are doing so well - so I've decided to re-active my old thread and I'll do an update there on Page 280.
I'll still pop in when I can add something from my 15m charts and obviously help if you find any of my input useful.
Cheers
Islander

http://www.forexfactory.com/showthread.php?t=214628
My friend, there is no problem with anything you post here. As I said in the one post there'll be no change in the way we take a trade I am sure. If TVI gives a better i.e. clearer visual than RSI so be it. The addition of the vol for that specific purpose is something I'll check out.

I'll be adding the above thread to my read list and would recommend anyone that has an interest in the London open time slot do the same.
  • #6,099
  • Mar 2, 2013 1:01pm Mar 2, 2013 1:01pm
Hi Islander

TVI is better than RSI for Divergence.Do you use this indy for any other confirmation?(want to know other use of this indy)

frank
  • #6,100
  • Mar 3, 2013 4:51am Mar 3, 2013 4:51am
Quoting frank.david
Hi Islander

TVI is better than RSI for Divergence.Do you use this indy for any other confirmation?(want to know other use of this indy)

frank
You should also research the use of the change of colour in the TVI on the 1m & 5m TFs.....AND you will find that its zero line is very close to the 50 level on a 14 RSI - an important level in some RSI systems....
Trading Levels with WRBs
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