Immy's Corner [The Setup The Hunt - T20's and more]

[Darren]

What does the Special Aims eWave indicator actually do? I can see the cross of the extra moving average changes the colour, so I assume that means we could take a short setup if the line is red, and long if it is green?

Yes, that's one use of it. but more useful is this. one green line to another red line is one wave and second wave. it shows the waves. does it make sense? It kind of brings back the original AO into it. It was supposed to show us that the wave from the top of the peak to the cross of ZL and a little further is actually a wave. In many cases you will find fresh cross of ZL but ignore the fact that the red line actually started off from the top of green line.. does this make sense?

Cheers Immy - makes total sense.

[immy]

I'm going to write about this here or in a new topic. Just putting it down here to stir thoughts in your minds. It may help me create a nice article. But Look for 1-2's. We know that the market has a structure and that structure is Elliott Wave. (Learn about Elliott Wave Here - Premium Section Elliott Wave http://www.itradeaims.net/forum/viewforum.php?f=61). And by the rules of eWave (Elliott Wave) Trading opportunties exists at the end of each corrective wave pattern. So we should be looking for impulse up and corrective down. So we can look for 5 wave up and 3 wave down and then look for entries. more on this later. but this is the gist of it.
Simply Put
Impulse Up (5 waves up) corrective down (3 wave down) = Time To Trade (Long/Buy)
or
Impulse Down (5 waves down) Corrective up (3 waves up) = Time to Trade (Short/Sell)

I guess I've already started this topic. Interesting.

My friend Adem used to say, I look for Big 1-2's. What he meant was actually exactly patterns like the Famous Pattern. That is a big 1-2. An Impulse wave follwed by correction. A correction can be sideways or opposite direction. Sideways corrections are easier to trade if they are flat like the Famous pattern. The skill of following the wave is really put to test when the correction appears like a reversal. Here we use Fibonacci values to establish what's going on.

Why do we wait for fresh AIMS level after a Green/Pink Dot?


Because we wait for Wave 2.

[immy]

Today LO Daxy

1. A nice but suspiciously principle C type of Setup down (gator on m5 was not convincing but you gotta test it out sometimes) eventually it proved to be a PC
2. SAR (stop and reverse) the fact that it was PC down, gave me additional courage to go long, so I put in a market order at the end of, what would appear on your screen as Green dot up since it was a dot candle which broke the high of AIMS level. So I did a Market order and Put SL immediately below the trigger candle.
3. Added on the next level, Yes this add on is the "ever so illusive to some" S2. its a simple concept though.
4. A lovely higher probability setup since M5 gator was now nicely open , and we know that Higher probability setups are breakouts in the direction of higher time frame trends. (The essence of AIMS).



A Setup that was to some, similar setup as EU or GU m1/m5 but it was not the same. it was more powerfull.



explanation in the chatroom


Check EU and GU Charts for comparison on your platform pls.

[Dave]

Nice trading as always, Immy. I got done by the same DAX PC sell and then took the same SAR and "elusive S2" add-on, but unfortunately time didn't allow me to sit and wait for the classic and rewarding S1.
Cya tomorrow

[immy]

Nice trading as always, Immy. I got done by the same DAX PC sell and then took the same SAR and "elusive S2" add-on, but unfortunately time didn't allow me to sit and wait for the classic and rewarding S1.
Cya tomorrow

Timing is everything and Time is of the essence... and its precious and we often don't have much of it. We need to work on it! Wish you all the BEST TIMES and TIMINGS !





Daxy

[azadar]

Love those stop and reverse trades Immy. Great stuff!

[immy]

Love those stop and reverse trades Immy. Great stuff!

Yes, we do. Believe me its only a few minutes left I'm on it. Still trading Dax. Even had a go on WS30 (Dow Jone, wall st 30).

When is the best time to look for longs and shorts. Given the fact that markets are as volatile as they are at least these days on Idices. When you're expecting or seeing a choppy H1 chart, within big zags up and down, when you are in or expecting a Wave 4 on h1, your m1 will produce extremely good setups. The ADR's should be higher than 100. I hope it makes sense. we don't want gluey stuck charts moving between a tight range. we don't want low range chartts. and let me say here what I mean by higher range charts. You can find out by finding the ADR of the stock, index or currency. or simply by looking at high and low of the charts per day. we need charts that produce at least 100 pips/points up and down. So ADR above 100 is a good one.

[immy]

Dax double AIMS levels C wave trade. Missed the lovely long. to those who caught it (hug) (wd)



15pips

[Grant]

"cough" i did for once "cough"

as did most in the chat room..

Grant

[Dave]

Snorm fractal trade manager ?