Higher low, lower high system

here is another picture same time fram.. marking candles I like in patten.. just my opnion of course.. doesn't mean I know what I talk about..

Took the monie 12 points clear

19 Sep 2013
The FOMC statement caused some big moves which can retrace just as easily as continue. Will not attempt an analysis on this basis.

picture of week USDX.. I have strong pivot cluster at base of this also there is a strong fibo cluster at base too worked our off mthly ranges.. and some extended ranges too.. includes 2x 38% and a 50% point.. I am short the euud fairly close to hi point.. also I am looking hard at USD CHF for long position.. based on week and mth chart..

euud..4 hr yellow line were I am short.. just my opnion

After the 4hr hl positive close in US open session yesterday I had a buy EURAUD 1.4278. Had the trade window open and instead of closing the window wasn't thinking and closed the trade.

Our general trend views:

D chart above 50 level on RSI and above 8lwma chances of uptrend very strong. D neg close candle that cannot break below the 8lwma is a good chance just a hesitation in uptrend. Move below and close above D 8lwma again, the chances of trend continuing are strong.

The opposite holds true for below D 50 level on RSI and below 8lwma.

There are always exceptions and GU might be one of them.

http://vantagefx.blogspot.com/2013/09/20-sep-2013.html

GU - D closed negative after the over sized positive close candle (which is why we are still above the 8lwma), RSI cross lower. On any normal day price action of that kind, 140 pip negative close, would almost certainly be an engulfing candle with the expectation of a move lower. We are still above the 8lwma so we'd usually have the view possible pause in uptrend. 4hr is still on higher high higher low wave, RSI crossed lower. 1hr has made lower high lower lows. We have not had a 3-7 day reversal pattern but the FOMC news push up may have messed things up somewhat. Retaining bias up but a 4hr lower high negative close would change that.

EJ - D closed positive through the May high resistance level, little no upper wick. 4hr looks like its setting up for a lower high. Normally bias would be up for trend continuation. The over sized D candle could be the last blow out at the end of a run and for now we need to see if the break above the 1.3370 area holds. Bias up, potential for break of resistance level to fail.

EURAUD - D closed positive, RSI crossed signal line up with divergence. 4hr higher low yesterday following through higher but for now stalling at the W pivot 1.4337. Its 2 weeks now that we have held at 1.4250, the move below was quickly rejected. Time will tell if this is a major turn, bias up.

AUD - Very similar picture to GU. D close negative after over sized positive close. 4hr looks like closing negative. If EURAUD is to move up AUD needs to fall.

have taken another short possie 15 min chart..on the 5 min bit bldy wild..

Mrs V not even looking at 15 min anymore. She is in EURAUD and nicely in profit. I'll get the details later.

I am looking at an ever so slight variation of system to be more realistic to what I can do at work. Trend definition D RSI 50 level, buy above + sell below. Entry from 1hr chart with the usual suspects as triggers i.e. dble top/bottoms, hl/lh's, RSI cross, 3 bar reversals, little/no wick in direction of trade, price going above the extreme of set up candle. All these the same things considered for entry from lower TF's now just on 1hr chart.

Any lurkers here should know that D trends above/below its RSI 50 level for weeks providing chances for multiple entries.

Partial exits at appropriate/reasonable levels (say 50-100) moving stops to BE or close to that. If a 2nd entry taken moving first trades stop to last 1hr swing point. Pips are banked regularly and some of the remaining portions (but not all) will last for a good chunck of the D larger moves.

We'll see where it goes.

having trouble posting.. both my short closed.. profit on EUUD.. some loss UDCHF

Mrs V's buy on EA was 1.4334 and we are at 88 at close. Hopefully we push up Monday.

I have amended the first post to reflect what we are doing now a little more. Its official we are no longer scalpers. The 20 Pips Bank Hall of Fame have our notice letter, thanks guys it was fun whilst it lasted.

Gapped up at Asian session open and retraced lower, stop at BE.

23 Sep 2013
GU - D closed a large body doji above 8lwma, RSI flat above 50 level but crossed lower. 4hr flow was lower high lower low, that might have turned but could just be Asian session pause. Bias up.

EJ - D closed a doji, no follow through higher after the over sized candle on Thursday. 4hr lower high after divergence and RSI cross below signal line did follow through lower and might continue to do so. Viewing this as dip in uptrend until D confirms otherwise, bias up.

EURAUD - D closed positive, RSI crossed up and on 50 level. Gapped up on the open but strong retrace lower in Asian session. No bias.

AUD - D closed negative, RSI crossed lower but above 50 level. Gapped lower on the open but strong move higher in Asian session. No bias.

A bad week for me. Dull scenario overall. Not much trending to take trades.
How did it go with you Dave ?

Hello Dave. Took this trade in AUDUSD.

Went Long at the red mark in H1.
Reason was price bounced off the support line(yello line) plotted in Daily

But later price did drop and Hit my SL. Couldn't understand where I went wrong.

Tuesday was a public holiday here so we had a break.

You can assess and see a trade but in the battle of trend v support/resistance you never know which will win.

There was definite support there and it could have gone up. But until the D confirms you don't know. The D couldn't close above the 8lwma (so that's one where we'll always regard the move with some suspicion and accept it can go either way still), RSI was still crossed below its signal line, no D 3 bar reversal positive close.

The 4 hr at the time you took the trade was not conclusive either (at least on the platform I'm using). So it then becomes a case of how convinced are you of move up and when it stalled at the RN what will you do?

As always your option is to reduce risk asap as the D has not yet confirmed and risk a BE trade and hoping if you get out at BE that you'll have another chance in US session.

Bottom line it was a 1hr hl off a support level, no question. The only other thing to consider is how much room you give it if you regard it as CT to your higher TF's.

EJ D making lower highs, Y was green candle with large upper wick closing below 8lwma, RSI below 50/MA and heading down. Broke below the Asian range during FO, price was making LL/LH on the 1 hr chart, I entered at LO using the TMS method and trying out the HA candles which seem to give an appearance of a smoother ride down. Closed out at the W_M1 for +50.

http://www.forexfactory.com/showthre...08#post7006908

To Dave and all the member's in here..

Like we have personalities for inspiration in almost all the field's like sport's,Business or whatsoever.

Who is your inspiration in trading ? Do we really have inspirational figures in trading business ?