Higher lows lower highs

Vantage · #21 07-15-10, 10:39 AM

We had ej set up and missed this 100% system gu buy.
1hr up 15 min up hl and little/no upper wick.

Vantage · #22 07-15-10, 10:45 AM

Mrs V liked the ej set up better. Was against the 1hr lower close but had 2 x 15 min hammers with vol coming in. Nice 5 min hl at extreme moving above the RN, days open D S1 combo.

We got a microsoft warning that internet explorer has stopped working and we were at W M3 so we exited with +26.

Same warning has come up again, 1st time I've ever seen that. NO funny websites or emails opened.

Vantage · #23 07-15-10, 02:11 PM

These are the kind of days you love to see wish I got more pips. With the computer problems this morning I went out having some things to do and missed out on this one. A perfect hl continuation on ej. 100% system.

Vantage · #24 07-15-10, 06:41 PM

I got asked this question and its an important point.

What I meant was, what level (psych/pivot...) made you take the trade. We had yesterdays high and res. at 529x above.

We didn't take the gu trade, we were watching and I liked it (gu) but we had ej up as we also liked that. Apologies if my post suggested otherwise but I was sure I said we missed the gu trade for the ej set up.

Generally I do not care what psych level/high/res level is coming PROVIDED the set up is right approaching it I'll take the trade. I would have taken the GU trade at 88 if we were not set up on ej.

The reasons why I'll take a trade and that one specifically. A weak bounce from a key level is an indication that it may well fail. The rationale being if the big boys were going to defend you'd see vol and a bigger reaction. I don't know how long trading time it took me to learn this lesson but its served me well. A weak bounce from a key level is an indication it may fail.

On the move you mention Y's high was 96-ish but price was struggling at M3 5281. The first bounce lower was to 5250 after that bounces were to 65 and then 75. Thats a vital clue. See the chart with the arrows up showing the weaker bounces = the higher lows.

When the right circumstances per system develop ie in line with 1hr, 15 min, 5 min hl with set up candles little/no lower wick take it and don't worry what the res level is. Those circumstances above = high prob trade.

Shout if above is not clear.

Vantage · #25 07-15-10, 06:53 PM

Quote:

Originally Posted by Vantage

The reasons why I'll take a trade and that one specifically. A weak bounce from a key level is an indication that it may well fail. The rationale being if the big boys were going to defend you'd see vol and a bigger reaction. I don't know how long trading time it took me to learn this lesson but its served me well. A weak bounce from a key level is an indication it may fail.

See post 31 May 2010 Vantage fx

Vantage · #26 07-20-10, 11:42 AM

Had an earlier BE.

Mrs V sold this one as per a chat of ours and (her trade her exit call) exited at 50 level +25.

I thought early as the same 39/28 targets from yesterday should apply

Vantage · #27 07-23-10, 04:59 PM

When price hesitated earlier at 5291 9.35 fxpro chart time I sold the 1 min lh for -9.

When the LO move down failed bought the 1 min hl for a 85/15 trade for +21. R1 the target 5318.

Vantage · #28 07-23-10, 05:00 PM

We are missing out on way too many bigger moves after getting great entries. So exit strategy amended to:

7-9 am gmt exits will be taken at key levels due to the small ranges in Frankies hour that typically exist.

After 9 am gmt we will look for the FH/LO range to break (there is typically a head fake move in that time). Once that has happened we will look to bank 50-75% of trade at a key level, stop to BE. We will look to re-enter with full trade size hl/lh's in line with move. Again exiting 50/75% at next key target. Moving stop from original position along.

This alows scaling without risk exceeding 1.5%.

We will endeavour to trade through news events.

Vantage · #29 07-26-10, 04:28 PM

Prev 1hr was positive close but this was a lh below that 1hr low. Out half at +38, moved stop to just above 50 level, bal at +18.

Vantage · #30 07-26-10, 04:32 PM

Missed the lh at 5482, pity, sold the lh at 65, out half at +16 bal at BE.

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Higher lows lower highs

Higher lows lower highs

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