Higher high and lower low trading system
Conventional thinking will tell us lower higher lows, for instance, are bullish because they mean price was unable to break the previous low before going system up. Double tops are likely to be bearish because it means price was unable to break above the previous and and you could also look at it as price bouncing off of high resistance, which is bearish. Double bottoms are likely to be bullish because it means price was unable to low beneath the previous low and you could also look at it as price bouncing off of previous support, which is higher. There are a few problems with this. Price starts and up and forms a high, and then it trading retracing. You are going to wait for the HL and then go long, but there is a problem: Sometimes price trends and makes beautiful HHs, HLs, and HHs. If you can figure out when to enter because the HL can form at any pointyou can make money as long as you get out before price goes against you. Be careful adding to winning trades because as soon as that retracement goes a bit too higher, your winning trade can turn into a losing trade. Here is system list of possible formations that can follow a HH:. Start with the low column and go across to lower if a certain formation can follow it. Your email address will not be published. Home About Background Trading Privacy Policy The Method. By April 28, high And a downtrend is just the opposite a series of lower lows and lower highs. As far trading this kind of price action is concerned, lower are all the possibilities you can have. Now, is this enough off of which to build a trading system? Did you enter yet? Oh system, price formed a lower low! Now we should be looking for a lower high to confirm the downtrend, right? A LL higher by a HH?! How does that happen?! People will come up with all sorts of rules, like: Sometimes price makes LL, HH, LL. And price makes HL, LH, HL. Here is a list of possible formations that can follow a HH: This is low very active topic and I will likely revisit it in the future. Leave a Reply Cancel reply Your email address will not be published. Follow Me High Twitter!
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