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Higher low, lower high system

  • #6,741
  • Sep 13, 2013 3:13am Sep 13, 2013 3:13am
Quoting Vantage
{quote} Trade update, with profit floating around +100 stop to +40.
After yet another 1hr upper wick exited EURAUD buy at +102. Will post charts later.
  • #6,742
  • Sep 15, 2013 7:33pm Sep 15, 2013 7:33pm
Hello Dave.

Took a long position in UJ early this morning. Markets opened with a gap and in UJ I saw price hit the support level which I've plotted earlier. Thought orders might be stacked up there and took a long position after a small pullback in M15.

Closed partially at 20 pips and I'm at BE now.

As you can see in the picture I have entered at the white mark. All I wanted to know is where exactly could have been a good exit ?
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My Mantra - Go with the flow until a key level is hit
  • #6,743
  • Sep 15, 2013 9:49pm Sep 15, 2013 9:49pm
usdx week.. I have strong pivot cluster at current low point.... 8100 ish
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  • #6,744
  • Sep 15, 2013 11:09pm Sep 15, 2013 11:09pm
Quoting money89
Hello Dave. Took a long position in UJ early this morning. Markets opened with a gap and in UJ I saw price hit the support level which I've plotted earlier. Thought orders might be stacked up there and took a long position after a small pullback in M15. Closed partially at 20 pips and I'm at BE now. As you can see in the picture I have entered at the white mark. All I wanted to know is where exactly could have been a good exit ? {image}

Haven't looked at UJ chart so no idea what it did. You could exit where you did or around 99.17 to close the gap.
  • #6,745
  • Sep 15, 2013 11:54pm Sep 15, 2013 11:54pm
16 Sep 2013
Click on date for 4hr charts. We are usually cautious trading on Mon and Fri mornings.

GU - The hanging man/doji close on Thursday was not the start of move down, just a pause in uptrend. Gapped up and would normally expect gap to be closed before trend resumes. Bias up but the gap up could cause a few issues.

GBPAUD - D closed positive, RSI crossed up. 4hr on higher high higher low. Gapped down this morning. Bias up.

EJ - D closed a large doji, RSI flat. 4hr on lower high but showing the double bottom.. No bias.

EURAUD - D closed positive but within the previous days highs. Gapped down and Asian session pushed lower but already retraced up over 100 pips from last weeks lows. For now 1.4240 - 1.4400 the range time will tell who wins out.

AUD - D closed negative with a lower wick, Thursdays low holding. Gapped up this morning, then pushed higher, retraced almost 80 pips already.
  • #6,746
  • Sep 16, 2013 4:11am Sep 16, 2013 4:11am
Ive been developing a system based on this concept as well as the use of pinbars. No matter what ive tried in my 4 years of experience is that... PA is king. Simple s/r is all that needed. Will ne sharing some analysis from this point forward. Great thread.


EU

Under weeks opening after 60 pip gap. Price broke out under first range of week. LHs under this area are ideal. LH or pin at .3354 would be superb.
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  • #6,747
  • Sep 16, 2013 4:57am Sep 16, 2013 4:57am
Quoting EnPoint
Ive been developing a system based on this concept as well as the use of pinbars. No matter what ive tried in my 4 years of experience is that... PA is king. Simple s/r is all that needed. Will ne sharing some analysis from this point forward. Great thread. EU Under weeks opening after 60 pip gap. Price broke out under first range of week. LHs under this area are ideal. LH or pin at .3354 would be superb. {image}

Looking forward to your contributions.
  • #6,748
  • Sep 16, 2013 5:40pm Sep 16, 2013 5:40pm
weekly chart.. pivot cluster .. still holding??USDX
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  • #6,749
  • Sep 16, 2013 7:51pm Sep 16, 2013 7:51pm
euraud.. 1 hr at weekly mid.. watching close preference hi side
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  • #6,750
  • Sep 16, 2013 11:32pm Sep 16, 2013 11:32pm
17 Sep 2013
GU - Moved down in US session yesterday to close the gap and negative for the day but still above RSI 50 level and 8lwma. 4hr has signaled a scalp sell. Retaining up bias until D gives a clearer 3-7 day reversal pattern.

GBPAUD - D closed a long legged doji, RSI crossed up. 4hr showing some large spikes on news yesterday and this morning. We haven't closed the gap yet. Bias up.

EJ - D closed positive with a large upper wick, RSI flat. 4hr showing clearly the base at 131.60. There is a resistance area at 132.50 should we move up. No bias.

EURAUD - D closed a long legged doji from the support area 1.4250. The gap down has not been closed as yet. 4hr showing the AUD news spike. Still in the 1.4240 - 1.4400 range time will tell who wins out. Bias up.

AUD - D closed a shooting star. 4hr showing a very strong 3 bar reversal pushing lower to close yesterdays gap. bias down.
  • #6,751
  • Sep 16, 2013 11:32pm Sep 16, 2013 11:32pm
Quoting danc
euraud.. 1 hr at weekly mid.. watching close preference hi side {image}

Looks like up yes, we'll see.
  • #6,752
  • Sep 17, 2013 6:48am Sep 17, 2013 6:48am
EUAD certainly no up at mo V ?? here is picture of 15 min USDX.. I feel its getting ready to rock.. break above 20 ema and rite price action on EUUD.. I will be shorting.. euud that is..
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  • #6,753
  • Sep 17, 2013 7:50am Sep 17, 2013 7:50am
up date picture of USDX 15 mi.. have taken short possie in EUUD.. will add to if this breaks above 8120
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  • #6,754
  • Sep 17, 2013 8:46am Sep 17, 2013 8:46am
Quoting danc
EUAD certainly no up at mo V ?? here is picture of 15 min USDX.. I feel its getting ready to rock.. break above 20 ema and rite price action on EUUD.. I will be shorting.. euud that is.. {image}
Mrs V was also looking for EURAUD buy this morning. AUD was going up as well which makes EURAUD buy a no no. I was away from computer when EURAUD 4hr flipped negative and 15 min gave a good sell shortly afterwards.

Bottom line if AUD and EURAUD are not going in opposite directions then we stay out. Like this morning AUD was up and EURAUD sideways, quite clear on 15 min.
  • #6,755
  • Edited 3:05am Sep 18, 2013 12:05am | Edited 3:05am
18 Sep 2013
GU - An up and down day closing a shooting star. US session had no follow through on its move lower on 16th. 4hr sideways for now finding support above W M3 and the bottom of the gap up. Retaining up bias until D gives a clearer 3-7 day reversal pattern.

GBPAUD - D closed negative. 4hr on a lower high and also a higher low. The support yesterday rejecting the move below 1.7000 but against that we did not move up much. Bias down but we could easily flip up.

EJ - D higher low closed positive at the resistance area 132.50. Bias up but we could fall from the resistance level.

EURAUD - Very similar picture to GBPAUD. D closed negative, 4hr on a lower high and higher low, small bounce up from support. Bias down but we could easily flip up.

AUD - D closed positive. 4hr last close was positive so it appears we are on a higher low. Bias up.
  • #6,756
  • Sep 18, 2013 7:05am Sep 18, 2013 7:05am
EURAUD.. sorta thinking going up.. so long possie this one and short possie the Az/UD.. just my opnion of course
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  • #6,757
  • Sep 18, 2013 7:46am Sep 18, 2013 7:46am
Quoting danc
EURAUD.. sorta thinking going up.. so long possie this one and short possie the Az/UD.. just my opnion of course {image}
No reaction to the news just out and UK did session didn't do much. FOMC this evening though. In/out mmmh. I'm prepared to sit out.
  • #6,758
  • Sep 18, 2013 8:00am Sep 18, 2013 8:00am
Yeah I am out V.. not much damage.. preety ordinary day..insoutts lots little losses.. cross currents every were.got a short on at mo the eu ud.. mite get 8 points .. bed time
  • #6,759
  • Sep 18, 2013 8:09am Sep 18, 2013 8:09am
Quoting danc
Yeah I am out V.. not much damage.. preety ordinary day..insoutts lots little losses.. cross currents every were.got a short on at mo the eu ud.. mite get 8 points .. bed time
Yeah wouldn't you know it, nicely up to date some time to watch charts and its a yawn. No idea which way we'll go on EURAUD, all TF's ma's headed down or will the support hold. Tomorrow is another day.

At least I have been catching up with youtube videos. Early Queen '74 or '75 from Old Grey Whistle test, some Guns n Roses and finishing off with some classic Creed.
  • #6,760
  • Sep 18, 2013 9:43pm Sep 18, 2013 9:43pm
USDJPY.. 15 min.. long this cause of patten.. pivot cluster.. 20 ema and shape of RSI and CCI
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