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Higher low, lower high system

  • #6,981
  • Feb 19, 2014 7:54pm Feb 19, 2014 7:54pm
got this as it broke above green line
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  • #6,982
  • Feb 20, 2014 1:52am Feb 20, 2014 1:52am
Quoting danc
got this as it broke above green line {image}
Great trade yesterday around 8430 ish and another great gbpaud trade.
  • #6,983
  • Feb 20, 2014 2:33am Feb 20, 2014 2:33am
audjy 4 hr long this at 9123
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  • #6,984
  • Feb 20, 2014 4:22am Feb 20, 2014 4:22am
closed it for sum good points.. had a good day having early night
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  • #6,985
  • Feb 21, 2014 10:25am Feb 21, 2014 10:25am
EJ
Yesterday was a long lower wick which couldn't close below the 8lwma.
Tried selling CT at LO after an engulfing negative close at Y's high. Would have preferred a slightly lower close but sold at 140.52. Price moved down and stalled at the 50ema/LWH/daily open confluence. Out at BE.
Thought that was it for the day but there was some activity just before NYO with a 3-bar reversal up off the level which stopped the morning's down move. Bought at 150.59, a bit risky just below Y's high but back into longer term trend and price hadn't been able to move below Asian lows earlier. Also nice separation of MAs. Price moved up to the MR2 which was also the area of the 29 Jan high at 141.24. Price looked to be struggling a bit here so I closed out for +54 at .13 when price couldn't make it back up to the earlier high.
Attached Image(s) (click to enlarge)
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Follow, don't anticipate.
  • #6,986
  • Feb 22, 2014 12:16am Feb 22, 2014 12:16am
Quoting Ian
EJ Yesterday was a long lower wick which couldn't close below the 8lwma. Tried selling CT at LO after an engulfing negative close at Y's high. Would have preferred a slightly lower close but sold at 140.52. Price moved down and stalled at the 50ema/LWH/daily open confluence. Out at BE. Thought that was it for the day but there was some activity just before NYO with a 3-bar reversal up off the level which stopped the morning's down move. Bought at 150.59, a bit risky just below Y's high but back into longer term trend and price hadn't been able to...
I hear what you say about not above Y's high. All in all looks about as picture perfect as you're going to get. Nice one.
  • #6,987
  • Mar 11, 2014 2:08am Mar 11, 2014 2:08am
Hi Dave,

Missing your posts. Hope all is well.

Regards

Martin
  • #6,988
  • Mar 13, 2014 5:40am Mar 13, 2014 5:40am
Sorry there mt2 I have really been tied up. Mrs V has only taken 2 trades in the past few weeks (1 win 1 lose) but I'm hoping with month and year ends close to out of the way that normal business will resume shortly.
  • #6,989
  • Mar 21, 2014 9:02am Mar 21, 2014 9:02am
My only trade this week.
GBPAUD daily trend down and Wednesday's inside bar retrace unable to close above the 8lwma. On H4 price retraced to the support area formed on 7th and 13th March, W_M2 and 50ema. . H4 chart inside bar, doji followed by a solid negative close through the 8lwma closing below the W_S1.
Sold at 1.8266, target at +100 just above Tuesday's low and the W_S2.
Attached Image(s) (click to enlarge)
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Follow, don't anticipate.
  • #6,990
  • Mar 22, 2014 9:44am Mar 22, 2014 9:44am
Quoting Ian
My only trade this week. GBPAUD daily trend down and Wednesday's inside bar retrace unable to close above the 8lwma. On H4 price retraced to the support area formed on 7th and 13th March, W_M2 and 50ema. . H4 chart inside bar, doji followed by a solid negative close through the 8lwma closing below the W_S1. Sold at 1.8266, target at +100 just above Tuesday's low and the W_S2. {image} {image}
Great trade, continues to amaze me how much aud pairs like the W pivots.
  • #6,991
  • Mar 22, 2014 9:57am Mar 22, 2014 9:57am
One that got away.

D lower high, neg close, RSI crossed lower and on the 50 level, 17 Mar. The D set up does not really get much better, the only problem the recent chop and we are just above a S level. One hour tries to go up, rejected at W M2 with a clean 2b 3 bar reversal. Unfortunately when the next pivot held at the support level exited at BE.

Mistake number 1797, it happens. Main reason for showing is to have faith in the D when the solid set ups happen.
Attached Image(s) (click to enlarge)
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  • #6,992
  • Mar 22, 2014 10:04am Mar 22, 2014 10:04am
A friend mentioned seeing macd 4 6 4 elsewhere and suggested I have a look. The potential trades are close but not always the same as rsi cross but selling (when D set up/1hr flow sets up) when value is below the signal and buying when value above the signal pretty good and easier to see than rsi cross. All the usual set ups apply work from D or proven S/R levels, 1hr flow, good 1hr set up candles etc etc. Not using macd for a trade but a decent visual aid.
  • #6,993
  • Mar 22, 2014 10:08am Mar 22, 2014 10:08am
Quoting Ian
My only trade this week. GBPAUD daily trend down and Wednesday's inside bar retrace unable to close above the 8lwma. On H4 price retraced to the support area formed on 7th and 13th March, W_M2 and 50ema. . H4 chart inside bar, doji followed by a solid negative close through the 8lwma closing below the W_S1. Sold at 1.8266, target at +100 just above Tuesday's low and the W_S2. {image} {image}
good trade indeed!
i got in for short like yours h4 for g/a

http://www.forexfactory.com/showthre...01#post7357001

see if she can go south further next week?

cheers
  • #6,994
  • Mar 22, 2014 4:01pm Mar 22, 2014 4:01pm
Quoting Vantage
One that got away. D lower high, neg close, RSI crossed lower and on the 50 level, 17 Mar. The D set up does not really get much better, the only problem the recent chop and we are just above a S level. One hour tries to go up, rejected at W M2 with a clean 2b 3 bar reversal. Unfortunately when the next pivot held at the support level exited at BE. Mistake number 1797, it happens. Main reason for showing is to have faith in the D when the solid set ups happen. {image} {image}
Also looked nice on the H4, which I am looking at more and more now, with an evening star pattern coinciding with the h1 trade you show. Another one followed on Thursday with hidden divergence. Question is would I have taken them though with all that mess to the left? The second one occurred after a very weak push up on the previous day's candle so you must be right, trust the higher time frame information.
Attached Image (click to enlarge)
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Follow, don't anticipate.
  • #6,995
  • Mar 25, 2014 4:29am Mar 25, 2014 4:29am
Mrs V phoned and asked if this was a buy based on 4hr HL from the identified support/resistance level, the top of the positive close 4hr candle was just about cleared 1.5160.

Rule 1 - Go against euraud trend at your peril.
Rule 2 - See rule 1
Rule 3 - See rule 1
Rule 4 - D is a doji at the support level so move up is certainly possible but still below 8lwma and no sign of RSI cross
Rule 5 - 4hr is a HL but no engulfing close/3 bar reversal to trade above most recent pa
Rule 6 - The 21 Mar low/W M2 around 1.5171 resistance level held

So no, not a buy as yet.
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  • #6,996
  • Edited 6:02pm Mar 29, 2014 9:01am | Edited 6:02pm
Out too early on GJ yesterday.

Price broke up out of this week's range and then retraced to last week's high/200ema/W_R1 confluence. 4 hour higher low with a bullish engulfing reversal up off this level.
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Attached Image
Follow, don't anticipate.
  • #6,997
  • Mar 30, 2014 2:14am Mar 30, 2014 2:14am
Quoting Ian
Out too early on GJ yesterday. Price broke up out of this week's range and then retraced to last week's high/200ema/W_R1 confluence. 4 hour higher low with a bullish engulfing reversal up off this level. {image} {image}
Great trade, lovely set up.
  • #6,998
  • Mar 31, 2014 4:23am Mar 31, 2014 4:23am
Well Vantage no need to worry there is always another trading opportunity around the corner. GJ is my favorite pair because the range is between 100 pips (quiet day) to 150 pips (busy day) every day. I just got out now at 171.65 making 52 pips so my day is over.
  • #6,999
  • Mar 31, 2014 8:11am Mar 31, 2014 8:11am
Quoting Hutch
Well Vantage no need to worry there is always another trading opportunity around the corner. GJ is my favorite pair because the range is between 100 pips (quiet day) to 150 pips (busy day) every day. I just got out now at 171.65 making 52 pips so my day is over.
Nice.

Any particular reason you didn't run to the RN or the W pivot just above as the days range was far from done? Just wondering.
  • #7,000
  • Apr 9, 2014 3:56am Apr 9, 2014 3:56am
Mrs V phoned to confirm EURAUD sell after the last shooting star neg close (counts as a 3 bar reversal as it closed below the last 2 closes). Confirmed its a sell but stop to BE asap as we have a strong support area just below. Will post charts later if trade works out.
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