2009.09.10 DRAIN THE BANKS - LIKE A RAT

[TheRumpledOne]

Looks like price was going down....

Lower lows, lower highs.

[wkestler]

Can you mark your entry points?

[paupau]

Looks like price was going down....

Lower lows, lower highs.

Thanks TRO, I'll try to remember it for next time, never noticed that before as I only follow the price within 20 pips of daily low.

Can you mark your entry points?

previous high was 82.242
Limit entry at 82.249 because of spread, but the system entered me at 82.252.

[jlpk007]

Looks like price was going down....

Lower lows, lower highs.

sorry, may i ask what is the meaning of lower lows, lower highs?

[genlogins]

Looks like price was going down....

Lower lows, lower highs.

sorry, may i ask what is the meaning of lower lows, lower highs?

Hi jlp,

You have trend Up, and trend down. So:

When price direction is down, than the candles starts to make a value lower than previous candle lower value, and the higher value of the candle that you are in is lower than the higher value of the previous candle.

For price direction up, its the opposite, higher lows and higher highs.

[genlogins]

Paupau, it looks to me that price was reversing, because at 82.181 price was in a big support area. I haven't seen yet, but if you change to M1 you will probably see small candles testing this area to see if price on the next minutes will cross braking the support area and finally fall, or not.

It didn't want to cross, so on the M5 you see a big tail on the short candle with the pink signal.

At his moment price at 82.252 in in a Resistant area, and will pearce it to test. May test 1x or 2x, than fall if there is no volatility in the market.

If falls, will fall to about 82.230.

Well, that is prediction, and what I imagine it will do.

Anyway, I need some one with great skills, like TRO, or anyother to please check my last trades that I have a few questions.
I would apreciate if it would be before Monday next week, so I can change something.

Here is the thread.

http://kreslik.com/forums/viewtopic.php?p=48537#48537

many thanks, Gen

[TheRumpledOne]

Price within 20 pips of the daily low (ClLo <= 20) - that is OPPORTUNITY

Current price - current daily low is less than 20 pips.

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PLEASE DO NOT PM ME WITH QUESTIONS ABOUT TRADING, INDICATORS, CODING, ETC... Post your questions in the forum. Thank you.

[TheRumpledOne]

Looks like price was going down....

Lower lows, lower highs.

sorry, may i ask what is the meaning of lower lows, lower highs?

There is no meaning.

When price is going down, it leaves a trail of lower highs and lower lows.

[jlpk007]

Got caught out twice.


Waited for price to be within 20pip of low, bought on high of previous green candle..both trades are loser..What did i not see here..
I want to be green rat

ps:Pardon my poor english

[scarecrow93]

Got caught out twice.


Waited for price to be within 20pip of low, bought on high of previous green candle..both trades are loser..What did i not see here..
I want to be green rat

ps:Pardon my poor english

I was watching this as well and it goes back to TRO's description of lower highs and lower lows, at least for the first one.

The first trade still could have been a winner with proper MM as it got more than halfway to 10 pips before reversing. Remember TRO's rule of taking profits when you can.

The second trade was just one of those trades. The price just BARELY (.2 pips on my screen) went above the previous high before going down. Forget about it and move on.