AIMS - 10 Sec to Elliott Wave [Download PDF]

[immy]

AIMS Stress Free Trading - 10sec Elliott Wave eBook

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Rules are Rules and Guidelines are Guidelines

Rules: Must be followed. In legal terms if you break a rule you may be punished by law.

Guidelines: are suggestions. You can exercise discretion whether you follow them or not.

Rules allow us to bring objectivity in our trading decisions. They are rules, Thats it, don't break them.

3 Cardinal Rules of the Elliott Wave Theory

Rule Number 1: Wave 3 can NEVER be the shortest impulse wave
Rule Number 2: Wave 2 can NEVER go beyond the start of Wave 1
Rule Number 3: Wave 4 can NEVER cross in the same price area as Wave 1

Then, there are the guidelines that help you in correctly labeling waves. Unlike the three cardinal rules, these guidelines can be broken.

Here they are:
Conversely, sometimes, Wave 5 does not move beyond the end of wave 3. This is called truncation.
This is where you will see a new peak on eWave but no divergence.

Wave 5, more often than not, goes beyond or "breaks through" the trend line drawn off Wave 3 parallel to a trend line connecting the start of Waves 3 and 5.

Wave 3 tends to be very long, sharp, and extended. (But when wave 5 is extended they could be almost equal to each other, thats where it hits TZ2)

Waves 2 and 4 frequently bounce off Fibonacci retracement levels. (that is 38% and 50%, Wave 2 can even do 62% or even 100% retrace but for wave 4, it does between 38-50% almost 80% of the time)

[immy]

Is it possible that Wave 1 could be bigger than Wave 5? Yes, it may be possible as it is shown in the picture attached. Or it could be that the we think is Wave 1 of this wave, that is bigger than wave 5, is actually wave 1 of a larger wave of which wave 5 is yet to be come in to "observable" universe.

[immy]

I made a live sequence of pictures for this post but hit the wrong button and lost all the work. So I'm going to quickly upload only the pics now.

[immy]

A great Example.

10-02-2014 11-13-56.png

Silas asked a question so I revisited this picture. WE can now see 3 days later that the wave 5 is still continuing.

[immy]

Some More Waves Continuing...

[immy]

Some More Waves Continuing...

[immy]

Here is how EU is unfolding... We marked 1-5 on EU h1 and marked the whole sequence as Wave 3, 2 days ahead of this possible wave 5 today.


Wave 3 and Wave 5, based on analysis until 9th and 10th of Feb



After the 10th we found that we were having what is called an Extended Wave 5.
Sadly I stopped following the Wave 3, the big wave 3 up sequence and did not take the short. Perhaps subconsciously I missed the the down move on the 12th, YD, because I may have thought it was wave 4. Which is absolutely right looking at it todays picture that follows. The benefits of hindsight. how amazing.




Today's action shows that we might have seen a nice Wave 5 up. It has hit TZ1, is it going to hit TZ2? is it going to reverse or is it going to turn into that on going wave after wave up situation. Isn't it amazing?

[snorm]

Terrific post, as always, Immy (wd)

[immy]

Terrific post, as always, Immy (wd)

Thank You Steve. (A bit of solicited comments... how generous of you ) No one comments on my stuff because I'm taken for "Grant"ed. its ok... :-B (hug)

Here is another picture of the wave sequence, this time, a smaller wave, that we could have caught on M5 hit the same TZ1. sometimes its good fun...

Immy: it was a TZ1 on H1 and TZ1 of M5. a wave 5 of wave 5 perhaps... only future will tell if this is what it was... all we need is a belief and reason to be a tad more confident when taking The Setup. 14:10

Immy: UJ UJ UJ damn thing... I saw it just did not take it last night oh well. 14:13

Immy: and AU , the long on AU may have blinded me to the short. That's why we need to listen to each other, because we each have different mind filters, and they are on and off depending on our trading style, personality and how many positiosn we have or don't have. etc etc. 14:15

Immy: when I looked at Ray's post about AU short, I hear myself saying, "bloody hell he's going short already, this may trigger my stop loss and close the long but I don't think I'm ready for shorts" who cares about what you think immy, you gotta trade what you SEE not what you think. matey... love you darling. 14:17

Immy: smile

[immy]

Some Elliott wave waves on M1 Dax (was talking to Mea and Peter in skype so I thought I'll share those slides here too)

[14:58:21] Szakál Péter: Immy, are you all the time out with the second fruit?
[15:03:04] Immy AIMS: second fruit is powerful. if you knwo a bit about ewave then you can understand that if fruti 1 is wave 3 then fruit 2 is wave 5 of that wave.
[15:03:37] Immy AIMS: meaning fruit 1 might show end of wave 3 and fruit 2 end of wave 5. both fruit show a 3 down or a 5 down. depending on the rest of hte 140 bars analysis.
[15:05:16] Immy AIMS: just for example http://screencast.com/t/dvMxVJ6GJCyQ
[15:07:56] Immy AIMS: and then macro wave could be this... http://screencast.com/t/vfSjBzs1dxD
[15:08:30 | Edited 15:09:35] Immy AIMS: if your allergice to Elliott wave look away now. this report might contain some ewavographic material not suitable for people with mental allergies specially elliott wave. (poor you)
[15:10:09] Immy AIMS: trading daily need much more funds or you trade a mini micro accountdoes not need more funds in UK at least. you can trade daily charts with a 1k account trust me.
[15:13:35] Immy AIMS: you look at Weekly Ucad adn you can see it needs to fall. what do you do, you since you trade daily and not weekly, you look for low risk Fruit entry at the top of the range. and hold on to it. 16 march probably failed so what next, 31st of march you take another, now you are short fro mthere adn have 2 adds up 1000 pips initial risk 150
[15:14:15] Immy AIMS: you do the math. time it took to trade and manage this entire setup. 14 minutes spread aross 2 weeks of trading.
[15:14:32] Immy AIMS: 14 bars, need only 1 minute to see what this bar is telling you.
[15:14:37] Immy AIMS: you get me?
[15:15:46] Immy AIMS: Read above, VEry powerful.

ewave 1.png

ewave 2.png

ewave 2.png

i did the wave count so that you understand the logic behind 2nd fruit.
[15:31:15] Immy AIMS: i assume that on a lower time frame you will be able to see a comleted 1-5 sequence and top of 3 and 5 will have fruit on this time frame.
[15:31:43] Immy AIMS: i reserve 2 attempts for 1 wave.
[15:31:46] Immy AIMS: max 3.
[15:32:00] Immy AIMS: can a wave give you 50 pips with 1 add on? YES
[15:32:09] Immy AIMS: Can a wave give you 100 pips with 1 add on? YES
[15:32:45] Immy AIMS: How often does it give you 50? compared to 100? 50 is more oftne. Why pay 100 pips on a wave to get 50 or 100 ?

ewave 4.png

ewave 5.png

ewave 6.png

The End of the Sequence. but it may still do a wave 4 and wave 5. i'm done. tired.

ewave 7.png

correction. we had a short at the peak of wave 4 (which turned out to be wave 3 of wave 4 up not 5 where it ends. it happened later where we shorted it) so we have -10 -22 there.