Daily Trade Opportunities anyone ...?

[immy]

A Lovely Setup both on UJ and EJ. UJ box was too big for UJ, (still confirmed trend if it broke out) but to lower risk, (its a bit of a non simple technique but still not that complicated) an entry within the box, which would be slightly higher risk entry was possible. Sam and Chris spotted that opportunity nicely, I chose otherwise. That entry on m5 on UJ or FO EJ can be easily converted into a H1 trade if that is pat of your plan, otherwise it stood on its own pretty nicely. There are 3 kinds of setups that i consider taking on m5. One, just like the EJ AND UJ within the S1 of H1, (lower probability higher risk of whipsaws) second my favourite, higher probabiliyt setup, a. just after H1 breakouts there is usually a small candle, my favourite being an inside bar just after the breakout candle, or b. on a pullback of h1, there is an M5 setup in the direction of H1. Both a and b are HPSetups. 3rd is when H1's have exhausted , just after the strong move down, there is usually a retrace back to GAtors, upto 38% there usually is a setup on M5. This is similar in probability as the first one. Same concept is applied to M1/M5. no difference.

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I had even put a PO on UJ but then thought I'll wait for H1 Break.

[immy]

A Lovely Setup both on UJ and EJ. UJ box was too big for UJ, (still confirmed trend if it broke out) but to lower risk, (its a bit of a non simple technique but still not that complicated) an entry within the box, which would be slightly higher risk entry was possible. Sam and Chris spotted that opportunity nicely, I chose otherwise. That entry on m5 on UJ or FO EJ can be easily converted into a H1 trade if that is pat of your plan, otherwise it stood on its own pretty nicely. There are 3 kinds of setups that i consider taking on m5. One, just like the EJ AND UJ within the S1 of H1, (lower probability higher risk of whipsaws) second my favourite, higher probabiliyt setup, a. just after H1 breakouts there is usually a small candle, my favourite being an inside bar just after the breakout candle, or b. on a pullback of h1, there is an M5 setup in the direction of H1. Both a and b are HPSetups. 3rd is when H1's have exhausted , just after the strong move down, there is usually a retrace back to GAtors, upto 38% there usually is a setup on M5. This is similar in probability as the first one. Same concept is applied to M1/M5. no difference.

30-04-2013 11-33-21.png

I had even put a PO on UJ but then thought I'll wait for H1 Break.

EJ Closed for BE. UJ H1 (taken despite the big box,,, albeit with lower %risk and lower lot size) survived the attack on my SL.

[immy]

USDJPY H1 Short Closed

[immy]

When the Trend is confirmed we can do alot of things to maximize our profits and grow our accounts consistently.

We know that Higher Probability Setups are Breakouts in the Direction of HTF Trends.

What if you see a confirmed trend on H1 or h4 but entry is not possible as its not a setup on that time frame but its moving?
The answer is check lower time frame to find a Class 1 Setup.
How and when do we Drop to M5 or M15 from a H1 chart.

Edit: 1st of May 2013

The H1 Strategy:

The strategy is very simple. We shall do exactly the same stuff as on M5/M1. But this is an Integrated approach that allows you to trade several pairs, choose the best of the best setups and ignore the chops. The Strategy will allow us to achieve a very important objective.

Pairs: EUR/USD - GBP/USD - AUD/USD - USD/CHF - EUR/JPY - USD/JPY - USD/CAD - GOLD (any other pair of your choice)

Trade Very Good S1 Setups on H1 in the direction of H4/D1.
Templates: Classic or V5.1 Template. (Its your choice)

M5 Level Risk H1 Level Rewards

The strategy is to spot and trade strong trends on Higher Time Frames and then make entries using High Quality S1 setups on Lower Time Frames.

Time Required to Trade: 1-5 minutes top of the hour. Total Screen Time Per Day: 15-40 min total per day.

M5/M15 Entries:
While keeping our charts permanently on H1 Time Frame we may drop to m5 or m15 when we think the trend is strong and clear. We do that by following the criteria below.

If We See on H1 Chart the following things
a. Recently Opened Gator
b. Price Broken Out of Range with clear space to the left.
c. eWaves showing rising momentum.
d. Price Pulls Back or Creates a Sideways consolidation

We will look for on H1 Chart :
1. Inside Candle with Tight Range e.g. Range <20 pips
2. Doji or Pin Bar Candle with Tight Range.

Once You're sure about the trend, Change Time Frame to m5 or m15 and see if there is a Low Risk Classic Setup. The setups should be class 1 proper setup with tight aims boxes, AIMS Wave clsoe to ZL and Gator sleeping and inside the boxes. You know, The Three Rules.

Now put a PO and SL using the technique discussed in Chapter 4. Only one order in the direction of the H1 trend.

Money and Trade Management: As discussed in my Journal. Sell Half at 1:1. Trail AIMS of your chosen time frame and/or Switch back to H1 manage accordingly.

Note: Guys! I'm flying tonight out of UK. I will pop in the chatroom during Frankfurt open to 10am UK. (then you're on your own hehe)

Q. What will happen to EUR/USD M1/M5 Strategy.
Ans. It remains in tact. You do not need to change if you so wish. I will be running M1/M5 on a separate Screen but my focus will be more on H1. I am expanding my style now .Rather I am letting you in on my H1 strategy.

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[immy]

EUR/USD Long term potential trade timed on m5/h1.

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This trade is going well. The daily chart has turned into a new trend as expected. It was a principle C and now The M5 trade is a Daily trade. with an ADD on from Yesterday's m5 setup. Now let it bloody run!

[immy]

I will be discussing a cool H1 strategy soon. Just cannot get to finish the document. keep your eyes peeled.

[Darren]

I will be discussing a cool H1 strategy soon. Just cannot get to finish the document. keep your eyes peeled.

Looking forward to it - my eyes are peeled ^:)^

[Tomi]

I'm about to start H1 trading also. Messing around already and thinking the process how to put it in practice. Currently using the same templates as in M5/M1. Immy, is the strategy based on AIMS core?

[immy]

Hi

Darren and Tomi thanks for your response. Just scroll back up and you will find the strategy.

Enjoy

[Darren]

Cheers Immy