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Higher low, lower high system

  • #6,941
  • Feb 7, 2014 6:04am Feb 7, 2014 6:04am
Quoting danc
{image} {image} 5.70 4.80 4.70 {image} {image} {image} {image} {image} 3.00 {image} 2.00 6.20 3.00 Currency Strength Meter Still playing wit it V.. but have found a good one I think.. GBP last nite AZ nite was 1.. and I short for gains... az was stronger.. tday opposite.. current short AZUD.. long EUAD and GBP ad.. the rate it .. 1 to 9.. is that rite??jpy strongest must have look..??
Yes, by the time you have a 1 - 9 situation the pairs will have moved, somewhat but if its on the close of 1st 1hr candle in move I'm interested. If I've missed that then I'll be looking at the pair for a retrace and 15 min entry. If pairs are that weak/strong it doesn't usually turn off (news change not withstanding) immediately. Like anything its watch and see how it works for you.
  • #6,942
  • Feb 7, 2014 6:08am Feb 7, 2014 6:08am
Quoting danc
V......I am out of every thing now.. FLAT.. but looking to buy again the EUAD and GBPAD.. and short again the AD.. here is picture of day GBP AD.. I reckon it will turn if it hits 8070/80 ish.. all just my opnion of course could be totally wrong.. sorry about the strength metre.. wouldn't post proper.. more on this later and some questions.. {image}
With NFP coming out we are unlikely to look at anything until Monday. There is definitely the potential for the GA, EA buys and AUD sells as you say.
  • #6,943
  • Feb 8, 2014 2:15pm Feb 8, 2014 2:15pm
Good evening Vantage,

Would you mind confirming for me the current pairs you trade please?

Also do you still consider the following Daily candles: Shooting Star, Evening Star, Evening Doji Star, Dark Cloud, Bearish Engulfing,
Bullish Hammer, Morning Star, Morning Doji Star, Piercing Line and Bullish Candle.

Thank you for your reply in advance

Best regards,

DT.
  • #6,944
  • Feb 9, 2014 2:55am Feb 9, 2014 2:55am
Quoting doubletop
Good evening Vantage, Would you mind confirming for me the current pairs you trade please? Also do you still consider the following Daily candles: Shooting Star, Evening Star, Evening Doji Star, Dark Cloud, Bearish Engulfing, Bullish Hammer, Morning Star, Morning Doji Star, Piercing Line and Bullish Candle. Thank you for your reply in advance Best regards, DT.
The 3 main pairs we trade are euraud, euraud and euraud. Mrs V has aud, gbp and ej on her computer. I have aud, gbp, ej, gbpaud and gbpjpy also on mine.

Not all candles are created equal so whilst I look at all those candles as you might be aware that my view is it comes back down to:

- do we have a 3 bar reversal,
- were candles strong enough to cross the 8lwma (you'll have seen many of the candles you mention fail to turn the market and just be a pause in trend)

and by far the most important:

- are they part of a true reversal of trend (or trend continuation),
- or are they at a true D support/resistance level.

Generally speaking whilst there are always exceptions 1 candle on a D chart (or any other time frame) is just that, 1 candle. As you will have seen from any D chart most turns take several candles, yes there will undoubtedly be 1 of the candles you mention in the 3-7 candles that comprise the turn.
  • #6,945
  • Feb 9, 2014 3:01am Feb 9, 2014 3:01am
Good morning Vantage,

Thank you for taking the time to reply.

I will concentrate on eurjpy, euraud and audusd.

Also I will be paying much more attention to 3 bar reversals and engulfing candles for the time being.

Very best regards,

DT.
  • #6,946
  • Feb 12, 2014 5:12am Feb 12, 2014 5:12am
euraud... looks to be setting its self up to move..MM ??
Attached Image (click to enlarge)
Click to Enlarge Name: euraudm15.png Size: 71 KB
  • #6,947
  • Feb 12, 2014 10:49pm Feb 12, 2014 10:49pm
Quoting danc
euraud... looks to be setting its self up to move..MM ?? {image}
Agree totally.
  • #6,948
  • Feb 12, 2014 10:55pm Feb 12, 2014 10:55pm
D chart shows the support area below 1.5100. Yesterday price wouldn't go lower for 8 hours and then we had an oversized blow out fall on news, bought the earlier hl and then the rejection of the W (S1) pivot that euraud seems to like. Out at the W pivot for 154 and 202 pips.

Acceptable for what is for now without a positive D close is regarded as a CT move.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurauddaily.png Size: 32 KB
Click to Enlarge Name: euraudh1.png Size: 43 KB
  • #6,949
  • Feb 12, 2014 11:01pm Feb 12, 2014 11:01pm
Quoting danc
euraud... looks to be setting its self up to move..MM ?? {image}
We are watching a combo of euraud SR levels, W pivots and of course the AUD high news items. Mrs V did get up for this mornings news (2.30am local time) but didn't try to enter a 3rd trade. I was
  • #6,950
  • Feb 12, 2014 11:03pm Feb 12, 2014 11:03pm
Quoting danc
euraud... looks to be setting its self up to move..MM ?? {image}
One day I'll try putting together a trade the W pivots/SR combo method for our fave euraud. Or not.
  • #6,951
  • Feb 12, 2014 11:15pm Feb 12, 2014 11:15pm
Quoting Vantage
D chart shows the support area below 1.5100. Yesterday price wouldn't go lower for 8 hours and then we had an oversized blow out fall on news, bought the earlier hl and then the rejection of the W (S1) pivot that euraud seems to like. Out at the W pivot for 154 and 202 pips. Acceptable for what is for now without a positive D close is regarded as a CT move. {image} {image}
I was asked a pm question generally about this trade, why there, why now, we've been quite quiet generally.

As I said, a true D SR level, then the W pivot, W S1. The first trade 8 hours of not moving lower so we are happy complies with our CT rules. The idea that most trades/moves will happen Tues-Thurs which is just a different way of saying we are very wary of Mon am's and Fri's. So yes we did wait a few days for this to set up and happy to trade a few times a week.
  • #6,952
  • Feb 13, 2014 1:38am Feb 13, 2014 1:38am
I lost a few points on it last night.. V but caught it nice this Auz morn.. also got the ADUD nicely too.. preety much rite on 11.30 am employment .. I had both the EUAD and GBP AD coming off or breaking throu 3 W.. support numbers.. am watching as we speak the GBP AD.. about to break throu.. the 3 W mid.. 8551.. hovering just above
  • #6,953
  • Feb 13, 2014 1:39am Feb 13, 2014 1:39am
Quoting Vantage
{quote} One day I'll try putting together a trade the W pivots/SR combo method for our fave euraud. Or not.
MMMMMMMMMMMMMMMMMM
  • #6,954
  • Feb 13, 2014 2:11am Feb 13, 2014 2:11am
15 min picture GBPAD
  • #6,955
  • Feb 13, 2014 3:12am Feb 13, 2014 3:12am
Quoting danc
I lost a few points on it last night.. V but caught it nice this Auz morn.. also got the ADUD nicely too.. preety much rite on 11.30 am employment .. I had both the EUAD and GBP AD coming off or breaking throu 3 W.. support numbers.. am watching as we speak the GBP AD.. about to break throu.. the 3 W mid.. 8551.. hovering just above
Not sure how to handle it but the AUD big news reactions seem to be really clean moves and I do need to watch more.

Just thinking out loud here, but I wonder if an ea that takes the close price of the last 5 min candle immediately before the news and places a straddle trade if would work? So if fxpro chart time news is coming out at 2.30, so the 5 min candle opening before the news is 2.25. Where ever that closes a straddle buy sell is placed say 30 pips above/below the 2.25 candle close.

Looking at aud, gaud and eaud as these guys move substantially more than 30 pips on the big news releases.
  • #6,956
  • Feb 13, 2014 4:12am Feb 13, 2014 4:12am
Danc when you watch the Aud news releases is there much jumping around as can happen with gbp and US releases. Essentially do you think the idea of a straddle trade would work? With big US and UK news often straddle entries get jumping/slipped leaving your entry much to far away for comfort.
  • #6,957
  • Feb 13, 2014 5:46am Feb 13, 2014 5:46am
No V this week.. twice it just broke rite on the news.time. this morning on the 15 min nit was going up went just above the 20 ema and folded.. I would post a chart but having all sorts probs to night wih my internet.. the F.F site is bldy hopeless at the mo.. I will shut down I think..tryed to post a chart on your thred about 6 bldy times ..
  • #6,958
  • Feb 13, 2014 6:31am Feb 13, 2014 6:31am
Quoting danc
No V this week.. twice it just broke rite on the news.time. this morning on the 15 min nit was going up went just above the 20 ema and folded.. I would post a chart but having all sorts probs to night wih my internet.. the F.F site is bldy hopeless at the mo.. I will shut down I think..tryed to post a chart on your thred about 6 bldy times ..
I have been trying unsuccessfully to get an EA that I'm happy with that will save Mrs V from getting up at 2.30 ish local time. When you get to be our age then you want to grab the sleep that you get and not mess with it.

As long as the AUD news releases don't generally whip around (which they certainly don't seem to) and generally don't jump reasonable entry distances (which it doesn't seem to) then coding something around the FF news calendar indi might just might be an answer. If that's possible of course.
  • #6,959
  • Feb 13, 2014 6:37am Feb 13, 2014 6:37am
Quoting danc
No V this week.. twice it just broke rite on the news.time. this morning on the 15 min nit was going up went just above the 20 ema and folded.. I would post a chart but having all sorts probs to night wih my internet.. the F.F site is bldy hopeless at the mo.. I will shut down I think..tryed to post a chart on your thred about 6 bldy times ..
My wishful thinking idea is IF the FF news calendar can be used in an ea. If its high news using the last 15 min candle close immediately prior to the news as a starting point. I'll have to ask around.
  • #6,960
  • Feb 13, 2014 8:04pm Feb 13, 2014 8:04pm
Quoting Vantage
{quote} My wishful thinking idea is IF the FF news calendar can be used in an ea. If its high news using the last 15 min candle close immediately prior to the news as a starting point. I'll have to ask around.
My internet continues to GIVE major probs.. FF takes for ever to come on... did trade long the Ozzz and a good short on EU.. this morn.. on news AD at 11.14.. went like clock off clear resistance .. I marked with parallel line were it was at 11.14 EUAD.. on 15 min .. short it when it broke below 20 ema and got a clear 50+.. long at mo off weekly/3 support .. pin bar 5168/5117in at 81..
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