some trouble about HHLL

Discussion in 'Technical Analysis' started by 3dtutor01, Mar 3, 2024.

  1. 3dtutor01

    3dtutor01

    hi,everyone. I am new to technique analysis and learning how to identify major high, major low in chart. Here is an example from my tutorial book that I am confuse. I don’t understand why the white one pointing position is belong to Higher high(major high)? is it related to wave counting? does anyone can give me little help? thank you.
    P.S this is 1hr Dow future chart(code: YM1!)
     
  2. mikeriley

    mikeriley

    Look up the term Swing Pivots or Swing Reversal.
    A Higher High is higher than the last Swing High.
    A Higher Low is higher than the last Swing Low.

    The same is true in reverse. (for a short)
    A Lower Low is lower than the last Swing Low.
    A Lower High is lower than the last Swing High.

    Just my opinion, if you trade on a 60min chart,
    and can hold your trades without taking
    profits too early, you'll do well.

    Swing Traders :)
     
  3. long

    long

    To be called a high, the following price bar/candle must have lower high. The HH you refer to has a lower high on the next bar so the white HH can be considered a higher high than the previous yellow HH.

    edit: after zooming in on the chart I noticed that the following period had a higher higher than than the one the arrows looks to be pointing at. On a shorter time period it could look like a higher high but I disagree with defining it that way on that chart.
     
    Last edited: Mar 3, 2024
  4. Sekiyo

    Sekiyo

    I don’t know who made that chart but the labels are cherry picked.
     
  5. maxinger

    maxinger

    You can delete the white one pointing position,
    or you can leave it there.
    I prefer to remove it as it didn't form a sharp bend.
     
    Last edited: Mar 3, 2024
  6. long

    long

    did you draw the white arrow? Or is it an example in the tutorial?
     
  7. 3dtutor01

    3dtutor01

    Thank you for everyone help first. I draw the white arrow and i full copy those HH,LL from tutorial example. In tutorial, it points out "After ChoCH, every most recent HH(LL) in uptrend(downtrend) is position of BOS(break of structure)"
     
  8. SunTrader

    SunTrader

    A HH as depicted is simply a high with a lower preceding it and following it - though not the white arrow one.

    There are minor, intermediate and major HH's and LL's.

    A minor HH is as the first sentence describes.

    A intermediate HH is a HH preceded and followed by lower minor HH's

    A major HH is a HH preceded and followed by lower intermediate HH's

    Same for minor, intermediate and major LL's but looking at low data point not high.
     
  9. Handle123

    Handle123

  10. Sekiyo

    Sekiyo

    That's how I'd draw swing highs and lows.
    There's not a single way to do it.
    Just need to find yours.

    quest.png
     
    #10     Mar 12, 2024