thestart wrote:example #5.png
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Immy are these #s just a guide and it so then I would think I should just follow alligator yes no what is your opinion please. thank you and I am also including a picture of a trade I missed I think my multi tasking skills need more focus
trade was up 55 pips when I left. I know you say let trades run and I am working on that but @ the same time the trade can only run so far before it gets tired right. I was happy with my gain I know I did not have any signal other than the # 4 telling me to leave and I did not leave because of the # 4. Don't get me wrong I would love more pips which by the way I would have 20 more of if I were still in that trade right now ( you half to smile)
I am happy to be crawling a little faster and hope I start walking very soon. I also missed a good entry with the USD/CHF
Hi Jim
Before Elliott Wave Indicator the famous eWave by Snorm is of any use to you, you should first understand how to read elliott wave, or rather how to count elliott waves using AIMS AO or AIMS Wave or AO or eWave (same thing) (or why call it Elliott? why not just call them waves? , oh wait, because Elliott is the guy who first "discovered" this market pattern that indicates a certain market behaviour which surely can be called the structure of the market anyway.. let me not digress too much), you should learn to count Elliott Wave using AO or AIMS Wave. Here I must ask a question? HAve you read and fully understood the 10s Elliott Wave eBook? if yes, and if you have also seen my videos where I show how to count these lovely waves within 10 seconds and you still dont get, then you'd rather just trust the Gator. Afterall wave 3 and wave 5 are impulse waves and so is Wave 1 and 2 and 4 are corrective waves of Wave 1 and Wave 3 respectively. thats all. its simply this, when you through a ball up against the gravity it will come back to you, if you push the swing away from you, it will come back to you, if you pull a rubber band it will snap. the speed and force of the push/pull will depend on the force that went into it initially. so lets suppose we are buying stocks, lets suppose a stock is stuck in a range its going sideways, for months... then suddenly it breaks the range (aims levels are broker perhaps) immediatly in most cases it pulls back, it either bounces off the range high or dips below it, at this point rings and whistles blow in the market and the rest of hte participants become interested, major buying begins and it moves so nicely up, people make good money, more buyers are coming in, until there are not many buyers coming in, the number of buyers per day start declining, which means momentum is being lost, the ao starts to change colour, buyers are holding on to their profits and they will hold due to numerous variables of factors/reason including the strength of their belief system, confidence, account size to name a few, they stay as long as they can "psychologically" bear it , there is a point when they get out of their profitable positions and price starts to fall. so from the point where it started going up, after the initial breakout and pullback, to the peak where market went dry, where there were no more buyers to enter the market is what we call Wave 3. The mad rush when everyone buys the stock, so the nwhen it starts to fall that may be the beginning of 4th wave, but we cannot be sure until it pulls back to a certain degree. We say that when AO peaks and creates a wave 3, it then loses momentum and starts coming back to Zero line, that first bar that crosses the zero line agains the green peak is our minimum requirement to "assume" that we may have been in wave 4 from the peak of green bars to the zero line. and then we know this great information that 8 out of 10 times, the wave 4 will pullback between 38 to 50% of the distance between the start of wave 3 and end of wave 3. so if price wne 100 points up wave 4s usually pullsback between 38 to 50 points. it may pull back less or slightly more but anything between 38 and 50 is what we will consider trade worthy. after this there is another wave of buying. at the start of wave 3, buyers started getting out of markets bringing price down, the introduction of short selling means deeper 4th waves or strong reversal becasue sellers enter the markets at the top of wave 3 (using The Fruit Of course) making it difficult yet exciting for others. I love picking the bottom of wave 4, but 4's are nasty, thogh when the price action is clean, with clean pull back, i'd look for Fruit to get into wave 5 right at the start and add on when it goes on to the correct side of gator using aims break and then look for exiting the market around or between the Tz1 and Tz2. that is because 8 out of 10 times wave 5;s are 60 to 100% of wave 3. meaning if wave 3 moved 100 points, the distance that wave 5 may travel would be in most cases 60 or 100 points.... thats your elliott wave...
