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

[immy]

oh thank you Ray, I only mentioned mine but forgot to mention your specialities ... now we know we are idiots of the same levels! LMAO

[Michal]

The 7 Sins of a Forex Trader

1. Takes Too many trades
2. Trades Multiple Systems
3. Trades multiple currencies
4. Trades all times of the day
5. Risk more than 1-2% per trade
6. Takes long and short term trades
7. Reads more about systems and less about discipline.

I like it ) and i must confess my biggest sin is number 1 from your list

[immy]

[immy]

[immy]

[immy]

Building up on YD comments and analysis. We spotted Famous for this am. So the market stayed sideways all night and tried to do break up. I thought that it was wave C up and so inspected M1/m5 and found that it was doing 1-5 waves. As soon as m1 completed 5 waves up, "which is called the Point Zero". I went short expected the 5th wave of H1 wave 3 to unfold. and it DID. If you break H1 wave 3 by dropping to M15 you'd see m15 is showing a wave 5 now after the breakout to downside.




So today we learn that the analysis for Famous Setup is ALWAYS useful as there can be other ways to get into that formation. e.g. today we saw PC on h1. I counted waves of abc on m5/m1.. .and thus i got short on EU m1, after "what i thought was C up" ... and paid it. its great fun when you count waves and it unfolds that way. fantastic.

In the above m15 picture note that while it was going sideways and not yet broken upwards toward purple you might have thought it was ready for 5 down. and you won't be wrong but it had to do a C up. and that breakout upside to purple was indeed, as it is proven now, C up. on M15 you also see two Fruit Candles touching purple. Amazing signals telling us it was end of Wave c up which you could have further inspected by dropping to M1. as in teh next picture.

The m15 Wave C up shows 1-5 waves on M1. M15 also had two fruit candles showing termination of C.


So I went short below the end of C 1-5 wave sequence.

[immy]

Building up on YD comments and analysis. We spotted Famous for this am. So the market stayed sideways all night and tried to do break up. I thought that it was wave C up and so inspected M1/m5 and found that it was doing 1-5 waves. As soon as m1 completed 5 waves up, "which is called the Point Zero". I went short expected the 5th wave of H1 wave 3 to unfold. and it DID. If you break H1 wave 3 by dropping to M15 you'd see m15 is showing a wave 5 now after the breakout to downside.




So today we learn that the analysis for Famous Setup is ALWAYS useful as there can be other ways to get into that formation. e.g. today we saw PC on h1. I counted waves of abc on m5/m1.. .and thus i got short on EU m1, after "what i thought was C up" ... and paid it. its great fun when you count waves and it unfolds that way. fantastic.

In the above m15 picture note that while it was going sideways and not yet broken upwards toward purple you might have thought it was ready for 5 down. and you won't be wrong but it had to do a C up. and that breakout upside to purple was indeed, as it is proven now, C up. on M15 you also see two Fruit Candles touching purple. Amazing signals telling us it was end of Wave c up which you could have further inspected by dropping to M1. as in teh next picture.

The m15 Wave C up shows 1-5 waves on M1. M15 also had two fruit candles showing termination of C.


So I went short below the end of C 1-5 wave sequence.

Update: The End +53 + 32

[immy]

[immy]

Fractal geometry

[immy]

I caught GJ YD, strangely enough