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Higher low, lower high system

  • #6,801
  • Oct 24, 2013 6:09am Oct 24, 2013 6:09am
Quoting Vantage
{quote} Hopefully we will now move higher and the small retrace lower was just a natural reaction to last weeks high being tested and the pre US session stutter.
Assuming we move higher we have 3 problem areas approaching. First 1.4385 a W pivot and the 12 Sep high, also the high from the gap up on 14 Oct. Then the Aug lows around W R2 1.4468 and then the Sep/Oct highs around W R3 1.4553.
  • #6,802
  • Oct 24, 2013 6:52am Oct 24, 2013 6:52am
Quoting Vantage
{quote} Assuming we move higher we have 3 problem areas approaching. First 1.4385 a W pivot and the 12 Sep high, also the high from the gap up on 14 Oct. Then the Aug lows around W R2 1.4468 and then the Sep/Oct highs around W R3 1.4553.
OK in at 1.4321 currently at 1.4356, 1hr has had a couple of closes above last weeks high so barring anything strange from US news it certainly looks to me like this trade can move higher, TWT.
  • #6,803
  • Oct 24, 2013 7:03am Oct 24, 2013 7:03am
I have also subscribed to http://www.forexfactory.com/showthread.php?t=452780 Price action made simple through supply and demand levels and have been reading on the website referred to a couple of times in the thread.

I certainly relate move to the drop, base, drop (LH/LL) and rally, base, rally (HH/HL) concepts than the turns drop, base, rally or rally, base, drop. Of course in most scenarios we should identify the turns in the mentioned thread with what I would regard as support/resistance levels and a change in flow.

As mentioned numerous times there is nothing new in trading. The thread comes at the 2 basic concepts of trend and support/resistance from a different direction. I've enjoyed the read and whatever method you are using the knowledge should be of some help.
  • #6,804
  • Oct 24, 2013 7:45am Oct 24, 2013 7:45am
Quoting Vantage
{quote} OK in at 1.4321 currently at 1.4356, 1hr has had a couple of closes above last weeks high so barring anything strange from US news it certainly looks to me like this trade can move higher, TWT.
AUD is falling and below 0.9600 struggling to stay below 18 Oct/last weeks lows/W pivot 0.9592. Hopefully this will continue, AUD falling = good news for EURAUD rising.
  • #6,805
  • Edited 8:08am Oct 24, 2013 8:06am | Edited 8:08am
Quoting Vantage
{quote} OK in at 1.4321 currently at 1.4356, 1hr has had a couple of closes above last weeks high so barring anything strange from US news it certainly looks to me like this trade can move higher, TWT.
No bad reaction from US news. Moved up to W M4 1.4385/14 Oct high and paused, now testing 1.4400. Stop not yet at BE but will get there soon we trust. So far this trade scripted about as well as can possibly be.

All started from a solid D candle engulfing close.

AUD moving up which is 1 thing I don't want to see. AUD down should equal EURAUD up.
  • #6,806
  • Oct 24, 2013 10:12am Oct 24, 2013 10:12am
Quoting Vantage
{quote} No bad reaction from US news. Moved up to W M4 1.4385/14 Oct high and paused, now testing 1.4400. Stop not yet at BE but will get there soon we trust. So far this trade scripted about as well as can possibly be. All started from a solid D candle engulfing close. AUD moving up which is 1 thing I don't want to see. AUD down should equal EURAUD up.
Out +74.
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  • #6,807
  • Oct 24, 2013 7:59pm Oct 24, 2013 7:59pm
euud 1 hr short this 3797.. pivot resistance at hi .. in my opn
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  • #6,808
  • Oct 28, 2013 3:01am Oct 28, 2013 3:01am
can anyone assist in change the colors for the line drawn for the pivot
  • #6,809
  • Oct 29, 2013 4:16am Oct 29, 2013 4:16am
Quoting prku018
can anyone assist in change the colors for the line drawn for the pivot
Sorry I think that's how it is.
  • #6,810
  • Oct 29, 2013 6:02am Oct 29, 2013 6:02am
GU D closed negative. 1hr had a shooting star followed by a doji this morning going into London open. 15 min lh sold 1.6092.

1hr has since completed an evening star pattern and then made another 15 min lh.

We have a couple of problem areas approaching. The previous low from an hour or two back 1.6075, then the Asian session low 1.6063.

Having tested my entry already I would exit at or close to BE if the 1.6075 low holds again.

As usual will post charts if trade follows through.
  • #6,811
  • Oct 29, 2013 7:06am Oct 29, 2013 7:06am
Quoting Vantage
GU D closed negative. 1hr had a shooting star followed by a doji this morning going into London open. 15 min lh sold 1.6092. 1hr has since completed an evening star pattern and then made another 15 min lh. We have a couple of problem areas approaching. The previous low from an hour or two back 1.6075, then the Asian session low 1.6063. Having tested my entry already I would exit at or close to BE if the 1.6075 low holds again. As usual will post charts if trade follows through.
We have tested the Asian session lows 1.6063, can only wait and see the reaction. The intention was not to exit here those nice D closes suggest more downside.
  • #6,812
  • Oct 29, 2013 8:22am Oct 29, 2013 8:22am
Quoting Vantage
{quote} We have tested the Asian session lows 1.6063, can only wait and see the reaction. The intention was not to exit here those nice D closes suggest more downside.
Gave it chances to go, lows held a couple of times, out +20.
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  • #6,813
  • Oct 29, 2013 4:07pm Oct 29, 2013 4:07pm
Quoting Vantage
{quote} Gave it chances to go, lows held a couple of times, out +20. {image}
Bad luck as GU pushed lower after taking out some stops on poor USD figures.

I was in EJ earlier, D still up despite neg close yesterday above 8lwma. 1hr on HL/HH since the fall last Wednesday. This morning price fell to the 134.25 level in early Asian session and couldn't push any lower. This was also a 50/61.8 fib confluence from the lows of last Wed/Fri.

After LO price made a very feeble attempt to break lower and then reversed up giving a positive engulfing close above the upward sloping 200ema. I bought at 134.40, first target Y's high, price continued up above 135. I had a couple of meetings so moved my stop up tight behind a 15min inside bar which was taken out for +65.
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Follow, don't anticipate.
  • #6,814
  • Oct 30, 2013 1:41am Oct 30, 2013 1:41am
Quoting Ian
{quote} Bad luck as GU pushed lower after taking out some stops on poor USD figures. I was in EJ earlier, D still up despite neg close yesterday above 8lwma. 1hr on HL/HH since the fall last Wednesday. This morning price fell to the 134.25 level in early Asian session and couldn't push any lower. This was also a 50/61.8 fib confluence from the lows of last Wed/Fri. After LO price made a very feeble attempt to break lower and then reversed up giving a positive engulfing close above the upward sloping 200ema. I bought at 134.40, first target Y's high,...
No prob on GU I might have been at BE then I'm not sure, so 20 pips better than BE.

Great EJ trade. As you say the failure of D to close below the 8lwma, couldn't break the base lower, engulfing 3 bar reversal close back into D trend - love it. Its amazing how some simple analysis of whats going on bigger pic can set up a trade.
  • #6,815
  • Oct 30, 2013 2:29am Oct 30, 2013 2:29am
We are in a CT EURAUD sell from yesterday afternoon 1.4490. We have a massive SR area from the Aug lows and the late Sep/early Oct highs. Price on 1hr wasn't budging for hours.

Whilst the D chart is giving no reason to sell based on the solid closes we have CCI sell divergence, 4hr RSI + CCI divergence and a shooting star, neg close then a doji, 1hr RSI and CCI divergence.

Will post charts if trade pans out.
  • #6,816
  • Oct 30, 2013 2:39am Oct 30, 2013 2:39am
Quoting Vantage
We are in a CT EURAUD sell from yesterday afternoon 1.4490. We have a massive SR area from the Aug lows and the late Sep/early Oct highs. Price on 1hr wasn't budging for hours. Whilst the D chart is giving no reason to sell based on the solid closes we have CCI sell divergence, 4hr RSI + CCI divergence and a shooting star, neg close then a doji, 1hr RSI and CCI divergence. Will post charts if trade pans out.
1.4463 is the first problem area the trade faces, the low from yesterdays London open. There are also potential problems at 1.4440 and 1.4420/4400.
  • #6,817
  • Oct 30, 2013 4:44am Oct 30, 2013 4:44am
Quoting Vantage
{quote} 1.4463 is the first problem area the trade faces, the low from yesterdays London open. There are also potential problems at 1.4440 and 1.4420/4400.
Bounced up from 1.4445 but for now the 15 min lower high lower low cycle is still in tact.
  • #6,818
  • Nov 15, 2013 10:26am Nov 15, 2013 10:26am
I've written a higher high/lower low indicator. Would this be of any use? The leg at the end is red because it's unconfirmed.
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  • #6,819
  • Nov 15, 2013 11:19pm Nov 15, 2013 11:19pm
Quoting rcsltd
I've written a higher high/lower low indicator. Would this be of any use? The leg at the end is red because it's unconfirmed. {image}

It could be and would depend how quickly it shows the turns.

Mrs V has had a tough time lately and if shes had 3 trades in 6 weeks its a lot. I have been spending more time getting my basics right for an automated system based around the 3 bar reversal than trading.

Hopefully I will get that done soon, its a trend method and will not get turns. I suspect that with the exception of MACD to filter out some rubbish it will be close to the kind of trading I look for. Look at the 3 bar reversal indi, the shear number of signals, it took a little time to get some filters right, as is often the case the simpler the filter the better.

Anyway time will tell what comes of it.
  • #6,820
  • Edited Nov 16, 2013 12:25am Nov 15, 2013 11:38pm | Edited Nov 16, 2013 12:25am
If you are starting out with this, what the heck is this 3 bar reversal drivel?
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