Higher Lows Lower Highs

[MadMarketScientist 11]

Nice catch on that. I got suckered in early on that downswing but managed to wash it with the punch higher.

 

MMS

[Snow Dog 10]

Nice catch on that. I got suckered in early on that downswing but managed to wash it with the punch higher.

 

MMS

 

Whilst Mrs V and I are reviewing the times we'll trade, we avoid frankfurt open and 10 mins before/after london open. That kept us away from the move down this am. With the oversize pre LO candle below 6100 that was immediately rejected we viewed that as the headfake when the hammers followed.

 

We are looking at trading 45mins before FO as there are often good moves 20-40 mins before FO ie 6.20-40 gmt. Then like I said we avoid the first candle in FH. We look 30 mins into FH for poss reversal. Then we avoid before/after LO. Phew thats a lot of if's and buts in such a short time.

[Snow Dog 10]

Is it so long since I last posted. Nice lower high, out portion +22 and bal +26 when low from 19 May held.

[Snow Dog 10]

Our 2nd trade of the day.

 

15 min did have a hammer after a positive close but no follow through. We then had an evening star pattern at the 4 hr SR area at 6280. With a trade in the bank and 5 day ATR exceeded Mrs V requested we bank +30, done.

[Snow Dog 10]

An interesting article here by Ralph Shell Euro Bulls suffer set back is there more to come http://www.cashbackforex.com/?aid=112 then go to articles.

[Snow Dog 10]

Just one of those things I have picked up.

 

Wait 20 minutes and try again (please don't be literal and if its not exactly 20 mins pass the trade). When price is moving in an orderly manner its amazing how often there is another hl/lh trade 20 mins or so later.

 

The x's show the peaks and the arrows the hl trade + - 20 mins later.

[Snow Dog 10]

Wait 20 mins and try again 2.

 

There are exceptions of course. When price moves aggressively away from a moving average (chart has 8 lwma and 20 ema) due to news etc a longer period of consolidation may be required.

 

The gu 15 min chart shows that idea clearly. When price consolidates back to the ma's and gives a good candle (solid engulfing close little/no lower wick or shooting stars) the moves down continue. The x's show the areas where quick moves away from the 8 lwma needs consolidation far exceeding 20 mins before continuing.

[Snow Dog 10]

Fairly straight forward trade. 1hr headed up we are above its 8 lwma, 15 min had a small inside bar but this 5 min hl had taken that out to upside. 15 min had good angle up on ma's. 5 min higher low, little/no upper wick after price pulls back to ma's. Move up from daily pivot/25 psych level, high volume point of control area.

[Snow Dog 10]

Fairly straight forward trade. 1hr headed up we are above its 8 lwma, 15 min had a small inside bar but this 5 min hl had taken that out to upside. 15 min had good angle up on ma's. 5 min higher low, little/no upper wick after price pulls back to ma's. Move up from daily pivot/25 psych level, high volume point of control area.

 

If you look at above post its another wait 20 mins (well OK 25 mins) and try again move.

[Snow Dog 10]

I tried including an indi that shows other time frames on the 5 min chart. What looked correct on my charts came out squashed up on the saved screenshot. Anyway the chart confirming entry and a chart showing an arrow that you can actually make out the candles.

[Snow Dog 10]

1hr shooting star, 15 min upper wick doji. 5 min lower high shooting star little/no lower wick.

 

Target is 6250 but we are struggling here 6260 area and with the previous chop around 6250 banked for +28.

[Snow Dog 10]

Chart for above post.

[Snow Dog 10]

Key levels will they hold or fail.

 

I wasn't in front of computer for this one.

 

EJ almost gets to 106, and bounces some 70 pips. Then it falls to 25 level and the bounces get smaller and smaller. Smaller bounces from a level is a high prob signal that the level will fail.

 

When the right set up occurs, 1hr down, 15 min down, 5 min lh with little/low lower wick on set up candle there's a good chance its going to break through.

 

If you got in earlier bounces and got out keep going if bounces are smaller.

[Snow Dog 10]

Key levels will they hold or fail 2.

 

There are numerous key levels on any chart. For example previous support and resistance levels, pivots, round numbers, fib's. The more important the level the bigger the reaction should be. There are some very good traders out there that can identify and trade these key levels.

 

I look to exit trades at key levels and then look for a reaction. As an example if a certain price caused a 200 pip move previously and comes back hits and moves 40, hits again and moves 20 (hopefully you've been in all the trades in direction of trend). Those smaller bounces away from the key level are usually pretty good indications that the key level will fail.

 

Nothing works 100% (as previously mentioned and price will do what it wants) but apart from the hope that we will have been in the moves (trading higher lows and lower highs) to the key levels, we look at the size of bounces. If the bounces are getting smaller we'll look for the right candles to see if that key level will fail.

[Snow Dog 10]

I have posted numerous times over the last couple of pages specifically ideas on wait 20 mins and try again and key levels will they hold or fail. These are just general trading ideas that I have picked up and the entries are always based on higher lows and lower highs.

 

If they are of value I'll keep on adding little trading ideas that I have from time to time. One that immediately springs to mind is the 85/15 trade. If there is some feedback on this that'll be great.

[mslk 10]

yes please continue posting, these threads are great - i love following stuff like this - just like the Reading Charts in Real Time thread

-mslk

[Snow Dog 10]

yes please continue posting, these threads are great - i love following stuff like this - just like the Reading Charts in Real Time thread

-mslk

 

Cheers mslk I'll keep posting and show the 85/15 trade idea soon.

[Snow Dog 10]

2 possibilities this am.

 

Higher low buy 5 min little/no upper wick. 1hr positive close above 8 lwma, 15 min positive close. 100% system trade.

 

The sell didn't get that one. 1hr closed with an upper wick, 15 min upper wick, doji then shooting star. 5 min lower high little/no lower wick, we passed on it.

[Snow Dog 10]

Ralph Shell has submitted a new article on COT, you can see it at link on previous page.

[Snow Dog 10]

I was out at the shops just showing these set ups.

 

I am sure I would have been happy to buy, despite the neg 1hr, to follow the 15 min up. Morning star on 15 min (down candle, doji, pos candle) would have had me tempted, left arrow up.

 

If we missed that there was another 100% system trade pos 1hr above its 8 lwma, pos 15 min, 5 min hl little/no upper wick but I like I said I was out. Red lines show where 1hr closed. Ma's confirming nicely. Perfect set up though.

[Snow Dog 10]

I forgot to add the above chart is a classic 85/15 trade.

 

Perfect higher low as discussed. Often when gu (also eur) is moving up through 85 level it will push through RN + - 15. The opposite is also true when falling through 15 will push to 85. Whether it is big boys taking out some stops I don't know.

 

I trade them with entries from hl/lh's as usual, sometimes I'll exit a portion at the RN just in case it stops and doesn't go through.

[Snow Dog 10]

This higher low pattern in Asian session when I was asleep. Pretty much three perfect wait 20 minutes and try again higher lows. The middle arrow up was also an 85/15 trade.

[Snow Dog 10]

A friend of mine sent this to me, free webinar http://clicks.aweber.com/y/ct/?l=M9jAa&m=JDQbVuNTlBL8RL&b=B7K.Mh99Uygbuz1yvM3gpg I've no idea how good it is just downloading it now. 124MB.

[Snow Dog 10]

I missed out on the earlier gu, eur trades as we were just too late getting set up, the 2b evening star pattern at the 6375 high. Then had lots of internet (not platform) problems so would not even had chance to consider the move up from 6325.

 

News pushed price lower with a small retrace to 25 level S became R. Set up classic lh, wait 20 mins try again, 15/85 trade. 5 min lh little/no lower wick, exit just above 85 level. Mrs V happy, so am I.

[Snow Dog 10]

In some ways a let down today. I was not attentive enough and missed the system higher low at 4145. Good support level, 15 minute positive close and perfect 5 min higher low little/no upper wick.

 

I was out and Mrs V got the higher low at 4175 after the 1hr positive close. She didn't enter again.