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Higher low, lower high system

  • #6,601
  • Aug 15, 2013 6:12am Aug 15, 2013 6:12am
GU long. 40 pips+ at the moment..

Dave mentioned Bias can go either ways..I was looking at M15 chart and saw price making consecutive HL's. So I decided to go long at 1.5540 closed some of the position partially at 30 pips and I'm on BE now.

How's this trade Dave ?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm15 t.png Size: 44 KB
My Mantra - Go with the flow until a key level is hit
  • #6,602
  • Aug 15, 2013 6:21am Aug 15, 2013 6:21am
Quoting money89
GU long. 40 pips+ at the moment.. Dave mentioned Bias can go either ways..I was looking at M15 chart and saw price making consecutive HL's. So I decided to go long at 1.5540 closed some of the position partially at 30 pips and I'm on BE now. How's this trade Dave ? {image}
Trend won out against resistance area. 1hr nice positive closes little/no upper wicks, 15 min hl. You got entry 30 pips or so before last weeks high (which is also the high from Apr/May '13) and now you can decide about targets at next W pivots/proven SR levels. Very nice.
  • #6,603
  • Aug 15, 2013 7:56am Aug 15, 2013 7:56am
News bringing down GU dramatically.

Had a small losing trade this morning on EURAUD when move lower never followed through. Thankfully loss minor compared to typical wins.

I am in USDJPY after the 4hr high low, will post charts as usual if trade plays out.
  • #6,604
  • Aug 15, 2013 9:10am Aug 15, 2013 9:10am
Quoting Vantage
News bringing down GU dramatically. Had a small losing trade this morning on EURAUD when move lower never followed through. Thankfully loss minor compared to typical wins. I am in USDJPY after the 4hr high low, will post charts as usual if trade plays out.
EJ falling like a stone, out of UJ with small profit, not worth posting a chart.
  • #6,605
  • Aug 15, 2013 9:12am Aug 15, 2013 9:12am
Got out of the GU at BE. That was a good trade overall.
I've have had couple of other trade's as well which I would like to share em here..

I was short Gold.

Reason - Price was at the resistance level in Daily chart and I was anticipating some kind of bearish reaction over here, So I was awaiting some confirmation in H1 to go short. Once the price made ..

And in H1, Price was making LH's and also Candle's clearly indicating Bulls aren't in control at that moment.



Any suggestions Dave ?
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My Mantra - Go with the flow until a key level is hit
  • #6,606
  • Aug 15, 2013 9:22am Aug 15, 2013 9:22am
Exited the Gold trade with 140 pips.

Here's the another trade I took.

I went long in EURAUD as price did hit support in H4 and also I saw exhaustion candles taking place in H1. So I when the H1 candle was about to close as a bull.

Suggestions or mistakes Dave ?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: euraudh1 t.png Size: 43 KB
My Mantra - Go with the flow until a key level is hit
  • #6,607
  • Aug 15, 2013 9:24am Aug 15, 2013 9:24am
Quoting money89
Got out of the GU at BE. That was a good trade overall. I've have had couple of other trade's as well which I would like to share em here.. I was short Gold. Reason - Price was at the resistance level in Daily chart and I was anticipating some kind of bearish reaction over here, So I was awaiting some confirmation in H1 to go short. Once the price made .. And in H1, Price was making LH's and also Candle's clearly indicating Bulls aren't in control at that moment. Any suggestions Dave ? {image} {image}
Identified a proven support and resistance area, waited for flow to confirm. You don't need my help or anyone elses with trades like this.

The only possible comment being CT to the D as you identified was the exit. The 1318 area was support/resistance on 9, 13 and 14 Aug so an exit there might have been good.
  • #6,608
  • Aug 15, 2013 9:26am Aug 15, 2013 9:26am
Quoting money89
Exited the Gold trade with 140 pips. Here's the another trade I took. I went long in EURAUD as price did hit support in H4 and also I saw exhaustion candles taking place in H1. So I when the H1 candle was about to close as a bull. Suggestions or mistakes Dave ? {image} {image}
Suggestions, pls contact Mrs V to buy instead of the small loss she took selling EA!!!
  • #6,609
  • Aug 15, 2013 9:34am Aug 15, 2013 9:34am
Quoting money89
Exited the Gold trade with 140 pips. Here's the another trade I took. I went long in EURAUD as price did hit support in H4 and also I saw exhaustion candles taking place in H1. So I when the H1 candle was about to close as a bull. Suggestions or mistakes Dave ? {image} {image}
OK just saw the 140 pips gold exit, nice.

Suggestions, the next big thing is posting your potential set ups in advance. Feel free to do so on a D basis on this thread as I do mine. If you think that's too early for you or the pressure of stating a position in advance has a detrimental effect on your trades stop immediately.

The offer is there to you to post your views here.
  • #6,610
  • Aug 15, 2013 9:38am Aug 15, 2013 9:38am
Quoting Vantage
News bringing down GU dramatically. Had a small losing trade this morning on EURAUD when move lower never followed through. Thankfully loss minor compared to typical wins. I am in USDJPY after the 4hr high low, will post charts as usual if trade plays out.
Trying to work out where you entered, I see a 15 min hl at the pivot around 98.15. Am I close?
Follow, don't anticipate.
  • #6,611
  • Aug 15, 2013 9:40am Aug 15, 2013 9:40am
Quoting Vantage
{quote} OK just saw the 140 pips gold exit, nice. Suggestions, the next big thing is posting your potential set ups in advance. Feel free to do so on a D basis on this thread as I do mine. If you think that's too early for you or the pressure of stating a position in advance has a detrimental effect on your trades stop immediately. The offer is there to you to post your views here.
I'd surely post's the setup's in advance. I thought it might be confusing to other trader's in here if I bombard the thread with my view's.
Anyway this is how we learn after-all.
My Mantra - Go with the flow until a key level is hit
  • #6,612
  • Aug 15, 2013 9:49am Aug 15, 2013 9:49am
Quoting Ian
{quote} Trying to work out where you entered, I see a 15 min hl at the pivot around 98.15. Am I close?
Yes that's it, there were moves earlier but I was otherwise engaged and got in after the 4hr close, then the 15 min hl. Was a nice trade/entry and into good profit until the news came out.
  • #6,613
  • Aug 15, 2013 9:53am Aug 15, 2013 9:53am
Quoting money89
{quote} I'd surely post's the setup's in advance. I thought it might be confusing to other trader's in here if I bombard the thread with my view's. Anyway this is how we learn after-all.
Very nice trading..
Follow, don't anticipate.
  • #6,614
  • Aug 15, 2013 9:54am Aug 15, 2013 9:54am
Quoting Vantage
{quote} Yes that's it, there were moves earlier but I was otherwise engaged and got in after the 4hr close, then the 15 min hl. Was a nice trade/entry and into good profit until the news came out.
Thanks, I only managed an AU long this morning which went nowhere.
Follow, don't anticipate.
  • #6,615
  • Aug 15, 2013 12:27pm Aug 15, 2013 12:27pm
USDJPY drops after hitting the resistance level which I've plotted earlier. Right to the pip..
I've missed it though..
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My Mantra - Go with the flow until a key level is hit
  • #6,616
  • Aug 15, 2013 4:10pm Aug 15, 2013 4:10pm
This is a reply from one of the member to the Jesse livermoore article published in FF today.

Thougts ?

  1. Jesse livermore is a great trader I admit it but just think a little bit logical about the market at 1920 and today,Technology is rapidly growing.In 1920 there is no algo trading or HFT but now things have changed and maths breed named quants took the technology to their advatange and made financial market more complex than ever and now technology is slowly removing the human interactions step by step so in the future markets will be operated by programmers and robots created by them!!

My Mantra - Go with the flow until a key level is hit
  • #6,617
  • Edited 11:55pm Aug 15, 2013 11:25pm | Edited 11:55pm
Quoting money89
This is a reply from one of the member to the Jesse livermoore article published in FF today. Thougts ? Jesse livermore is a great trader I admit it but just think a little bit logical about the market at 1920 and today,Technology is rapidly growing.In 1920 there is no algo trading or HFT but now things have changed and maths breed named quants took the technology to their advatange and made financial market more complex than ever and now technology is slowly removing the human interactions step by step so in the future markets will be operated...

Someone posted a link about the big boys robots and their returns that I read a few weeks ago. With the 3 trades you posted yesterday you beat their returns for the year. OK you just need 259 more reasonable days (on average) and you're beating the robots.
  • #6,618
  • Aug 15, 2013 11:55pm Aug 15, 2013 11:55pm
16 Apr 2013
We typically do not trade on a Friday morning experiencing a fair amount of chop. The 4hr charts on bog (click on this posts date above) show the support and resistance levels zoomed out a little. This should clearly show the effects of these levels and of course the W pivots.

EUR - US news resulted in a significant move up and an engulfing D close. There is no way of knowing when news follows through or retraces. The 4hr chart is zoomed out a little to see some of the recent support/resistance levels.

GU - D closed positive on the back of the news push. 4hr higher high higher low remains in tact. The next D resistance level higher is the June highs in the area 1.5730.

EJ - D closed a doji. 4hr shows the chop between W pivots/support and resistance levels. No bias.

EA - D closed positive. 4hr broke the lower high lower low flow, retracing 100 pips lower in Asian session. No bias.

AUD - D closed a doji. 4hr not showing a flow that I can see. No bias.
  • #6,619
  • Aug 16, 2013 3:49am Aug 16, 2013 3:49am
A friend of mine tells me he is having good success off 15 min charts using a 10RSI 10SMA cross instead of the 8, 8 that I use. Focus on AUD, EURAUD, UJ and EJ. Using a lot of what we talk about here (i.e. the basics of trend and support resistance for turns, W pivots, trade times around LO, before/after NY open, candle close through the 8lwma or if in good trend retrace to and hl/lh bounce off 8lwma) and if he misses the 1st move the idea from H4 power thread the next 15 min cross after close of 4hr. He actively uses the 3 bar reversal from post 1 and likes above/below 21 ema on 4hr chart (being on wrong side of 4hr 21ema will not exclude a trade just requires a 2nd look). Actively uses flow/hl lh/buy dips sell rallies (all the same thing, he said flow) until a SR level or W pivot reached then looks for reaction at that level.

Seems that if RSI crosses he is pretty much in. Doesn't go against wicks (in direction of trade) much, if RSI has crossed and he doesn't like look of the candle that caused the cross then he's waiting for 15 min hl/lh.

Says in many cases the 8RSI cross and 10 RSI cross happen on the same candle but it does keep him out of chop that the 8 can have.

Stops are a few pips + spread beyond last 15 min swing high/low. Targets 2:1 TP. If in LO trade watches trade until exit, then walks away until US session.

Basically taken info from here and a few other places and put together something that works for him. Nice one.
  • #6,620
  • Aug 18, 2013 7:55am Aug 18, 2013 7:55am
Hello Dave. Apart from the daily technical analysis that you conduct. Do you also take the fundamentals into consideration for the day ? If so, What exactly you look at ?
My Mantra - Go with the flow until a key level is hit
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