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Higher low, lower high system

  • #6,901
  • Jan 27, 2014 5:22am Jan 27, 2014 5:22am
EURAUD got to key levels going back to 2005 and rejected with a 4hr shooting star on Friday. Sold 1.5714, we are since on 1hr lh's/ll's. No signal from D as yet so this is regarded as a CT trade. Initial target is the W pivot/Dec highs around 1.5600. At this stage this is not a hit 1.5600 and we are out trade but a lets look at how pa reacts. Of course this could be a dip in uptrend and we could bounce up very quickly from that level. This is Mrs V's trade and her management and TWT how it plays out.

Will post charts if it turns out OK. Personally I'd prefer, as a CT trade, to exit at that 1.5600 but if I interfere in her trade too much there is the risk of the removal of bodily items with a blunt spoon and as I've only got 1 left ......................................
  • #6,902
  • Jan 27, 2014 7:17am Jan 27, 2014 7:17am
Quoting Vantage
EURAUD got to key levels going back to 2005 and rejected with a 4hr shooting star on Friday. Sold 1.5714, we are since on 1hr lh's/ll's. No signal from D as yet so this is regarded as a CT trade. Initial target is the W pivot/Dec highs around 1.5600. At this stage this is not a hit 1.5600 and we are out trade but a lets look at how pa reacts. Of course this could be a dip in uptrend and we could bounce up very quickly from that level. This is Mrs V's trade and her management and TWT how it plays out. Will post charts if it turns out OK. Personally...
We are sitting on 1.5614 at the moment. My currency strength meter is showing EUR as the 2nd weakest and AUD the strongest at the moment and whilst this can flip it bodes well for the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: euraudh1.png Size: 14 KB
  • #6,903
  • Jan 27, 2014 10:34pm Jan 27, 2014 10:34pm
Quoting Vantage
EURAUD got to key levels going back to 2005 and rejected with a 4hr shooting star on Friday. Sold 1.5714, we are since on 1hr lh's/ll's. No signal from D as yet so this is regarded as a CT trade. Initial target is the W pivot/Dec highs around 1.5600. At this stage this is not a hit 1.5600 and we are out trade but a lets look at how pa reacts.
Price now at 1.5565. Stop moved to BE. TP set at 1.5514 just above the 16 Jan highs.
  • #6,904
  • Jan 28, 2014 2:23am Jan 28, 2014 2:23am
Quoting Vantage
{quote} Price now at 1.5565. Stop moved to BE. TP set at 1.5514 just above the 16 Jan highs.
If I was a scalper I'd be pretty happy looking at selling euraud on these numbers. Things can go sideways very quickly but for now strength/weakness looks good (ps I have this on my computer Mrs V does not look at this at all).
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1.png Size: 14 KB
  • #6,905
  • Jan 28, 2014 2:37am Jan 28, 2014 2:37am
Quoting Vantage
{quote} If I was a scalper I'd be pretty happy looking at selling euraud on these numbers. Things can go sideways very quickly but for now strength/weakness looks good (ps I have this on my computer Mrs V does not look at this at all). {image}
Can you post this indicator please???
  • #6,906
  • Jan 28, 2014 3:34am Jan 28, 2014 3:34am
Quoting Flaviu1981
{quote} Can you post this indicator please???
Its here http://www.forexfactory.com/showthre...11#post7239911
  • #6,907
  • Jan 28, 2014 3:36am Jan 28, 2014 3:36am
Quoting Vantage
EURAUD got to key levels going back to 2005 and rejected with a 4hr shooting star on Friday. Sold 1.5714, we are since on 1hr lh's/ll's. No signal from D as yet so this is regarded as a CT trade. Initial target is the W pivot/Dec highs around 1.5600. At this stage this is not a hit 1.5600 and we are out trade but a lets look at how pa reacts. Of course this could be a dip in uptrend and we could bounce up very quickly from that level.
Exit at the 16 Jan highs for +214. Will post charts later.
  • #6,908
  • Jan 28, 2014 3:43am Jan 28, 2014 3:43am
Quoting Vantage
{quote} Its here http://www.forexfactory.com/showthre...11#post7239911
The only bad thing about such a currency meter is you cannot look back and see what has happened before. The latest post showing the strong AUD weak EUR was done about 20 past 9 London time after the 1hr euraud engulf closed 1.5549. The strength/weakness was clear and if scalping I'm sure a decent system based on retracements and closes back into trend off 5min or 1min could easily be sorted (ie higher lows/lower highs).
  • #6,909
  • Jan 28, 2014 3:57am Jan 28, 2014 3:57am
Quoting Vantage
{quote} If I was a scalper I'd be pretty happy looking at selling euraud on these numbers. Things can go sideways very quickly but for now strength/weakness looks good (ps I have this on my computer Mrs V does not look at this at all). {image}
This is the euraud 5 min chart. The left red line shows the close of the 1hr candle. The right red line shows the time I posted the currency meter readings. Entry would be from the 5 min lower highs as per the arrows down. I don't know if I'm going anywhere with this, I'm certainly watching though.

EURAUD loves the W pivots and the W M2 would have been a great target for a 15/85 trade. http://vantagefx.blogspot.com/2011/0...585-trade.html

The ema's are my standard 8lwma and an 8lwma 3 shift.
Attached Image (click to enlarge)
Click to Enlarge Name: euraudm5.png Size: 32 KB
  • #6,910
  • Jan 28, 2014 9:46am Jan 28, 2014 9:46am
Quoting Vantage
EURAUD got to key levels going back to 2005 and rejected with a 4hr shooting star on Friday. Sold 1.5714, we are since on 1hr lh's/ll's. No signal from D as yet so this is regarded as a CT trade.
Chart attached for the trade. Sold 1.5714 exit 1.5500.
Attached Image (click to enlarge)
Click to Enlarge Name: euraudh4.png Size: 35 KB
  • #6,911
  • Jan 29, 2014 1:05am Jan 29, 2014 1:05am
There is a base around 1.5500/W M2 as the double bottom shows. Still making lower highs on 1hr which hints that we'll go lower but only time will tell. You never know which will win trend or support/resistance.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurauddaily.png Size: 33 KB
Click to Enlarge Name: euraudh1.png Size: 42 KB
  • #6,912
  • Edited 8:39am Jan 29, 2014 8:02am | Edited 8:39am
EJ retraced 61.8% of the move down from last week's high to the 141.00 area. Y's candle was a positive close but couldn't close above the 8lwma.

Asian session formed a doubletop on 1hr with divergence and a solid negative close at LO.

LO saw a move up failing to break the FH high.

Sold at 140.85, TP was at 61.8% retrace of the move up from 139.16, coinciding with the W_M2 and ADR low at 139.85 (15/85 trade). Price blew through this level but +100 in the bank so no worries.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyh1.png Size: 43 KB
Attached Image
Follow, don't anticipate.
  • #6,913
  • Jan 29, 2014 6:11pm Jan 29, 2014 6:11pm
Quoting Ian
EJ retraced 61.8% of the move down from last week's high to the 141.00 area. Y's candle was a positive close but couldn't close above the 8lwma. Asian session formed a doubletop on 1hr with divergence and a solid negative close at LO. LO saw a move up failing to break the FH high. Sold at 140.85, TP was at 61.8% retrace of the move up from 139.16, coinciding with the W_M2 and ADR low at 139.85 (15/85 trade). Price blew through this level but +100 in the bank so no worries. {image} {image}

Bldy NICE.. Ian..top stuff.........................................
  • #6,914
  • Edited Jan 30, 2014 12:51am Jan 29, 2014 10:55pm | Edited Jan 30, 2014 12:51am
Quoting Ian
EJ retraced 61.8% of the move down from last week's high to the 141.00 area. Y's candle was a positive close but couldn't close above the 8lwma. Asian session formed a doubletop on 1hr with divergence and a solid negative close at LO. LO saw a move up failing to break the FH high. Sold at 140.85, TP was at 61.8% retrace of the move up from 139.16, coinciding with the W_M2 and ADR low at 139.85 (15/85 trade). Price blew through this level but +100 in the bank so no worries. {image} {image}
Hi Ian

I'll second danc's comments. That's a fantastic trade. Very, very nice.

The currency meter was showing eur (and pound) weak, jpy the strongest yesterday. AUD generally just as weak as EUR which is why it was weird all day.
  • #6,915
  • Jan 30, 2014 1:04am Jan 30, 2014 1:04am
Bldy nice trades u 2 V.. EUAD...been watching what you have been doing CLOSLY... I follow it but have only been using as lead indi for trading ADUD.. but after watching how you have been pulling it out I started scalping it..abt week ago.. been bldy GOOD.. This AZ day.. 5 trades ..60 clear.. THATS all I want
  • #6,916
  • Jan 30, 2014 3:37am Jan 30, 2014 3:37am
Quoting danc
Bldy nice trades u 2 V.. EUAD...been watching what you have been doing CLOSLY... I follow it but have only been using as lead indi for trading ADUD.. but after watching how you have been pulling it out I started scalping it..abt week ago.. been bldy GOOD.. This AZ day.. 5 trades ..60 clear.. THATS all I want
Danc have you been watching the currency meter (CM) at all? My timing has not been good for entering intra day trades (was away from computer again just now) but I have been watching with great interest. Perhaps the CM is not necessary and the same old rules can apply but it surely can help focus the mind.

I cannot comment on what the currency meter looked like 2 hours ago but right now its no surprise to see GBP weak, JPY and AUD strong and to focus on selling them rather than say eurgbp. All of the charts have one of my fave basic set ups the candle that closes and breaks the immediate range/3 bar reversals, see the arrows down. Couple that with a look at strongest/weakest on the CM and the choice of trade should hopefully be narrowed down. Very clean trades as opposed to eurgbp at the moment.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euraudh1.png Size: 44 KB
Click to Enlarge Name: gbpaudh1.png Size: 49 KB
Click to Enlarge Name: gbpjpyh1.png Size: 44 KB
Click to Enlarge Name: eurjpyh1.png Size: 44 KB
Click to Enlarge Name: gbpusdh1.png Size: 14 KB
Click to Enlarge Name: eurgbph1.png Size: 43 KB
  • #6,917
  • Jan 30, 2014 3:50am Jan 30, 2014 3:50am
Quoting Vantage
{quote} Danc have you been watching the currency meter (CM) at all? My timing has not been good for entering intra day trades (was away from computer again just now) but I have been watching with great interest. Perhaps the CM is not necessary and the same old rules can apply but it surely can help focus the mind. I cannot comment on what the currency meter looked like 2 hours ago but right now its no surprise to see GBP weak, JPY and AUD strong and to focus on selling them rather than say eurgbp. All of the charts have one of my fave basic set...
The idea will be to target 40-50 pip moves to exit at D or W pivots/clear SR levels for strong v weak pairs. Entry from 1hr or 15 min. 1hr close beyond immediate range/3 bar reversal, 15 min should have good angle on ma's (pick your preferred this is 8lwma + 8lwma 3 shift), some kind of pause/retrace/test of ma.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaudm15.png Size: 36 KB
  • #6,918
  • Jan 30, 2014 4:07am Jan 30, 2014 4:07am
Quoting danc
{quote} Bldy NICE.. Ian..top stuff.........................................
Cheers Dan...
Follow, don't anticipate.
  • #6,919
  • Jan 30, 2014 4:09am Jan 30, 2014 4:09am
Quoting Vantage
{quote} Hi Ian I'll second danc's comments. That's a fantastic trade. Very, very nice. The currency meter was showing eur (and pound) weak, jpy the strongest yesterday. AUD generally just as weak as EUR which is why it was weird all day.
Thanks V.

Limited time for trading atm, but still following along all your posts. Also managing to leave behind the 20 pip bank mentality hopefully.

Brilliant trades on EA, I'm watching closely like Dan....
Follow, don't anticipate.
  • #6,920
  • Jan 30, 2014 4:10am Jan 30, 2014 4:10am
V thanks for all that will have a good hard look....CM.. I don't know any thing about it... first hear it mentioned here.. I see a connection to it on your thred.. will start to put my head around it..not doing any more to night... sure can see possibilitys thou..bldy amazing... more on this later and maby a few questions re CM..
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