Michal: http://screencast.com/t/B0qlqSkY 8:51
Moziah: Off to work Happy Trading, great insights as per usual
8:52Michal: take care
8:52Darren: Nice pic Michal 8:52
Dave: New level refers to pink dot 8:52
Immy: Dunbars Numbers 8:52
Dave: because the red dot is inside the box so the level hasnt been broken yet 8:53
Immy: Cheers Moziah 8:53
Darren: So the red dot could have been taken if AO was OK then. 8:53
Michal: cheers Dave but i think i mean sth different 8:53
Immy: Yes, Dave's right. New level for pink/green dots. 8:53
Michal: Darren need your help with language you know what im trying to say 8:53
Dave: after the pink dot, the next 'new level' is at the peak of the wave down, so obviously not a good spot to enter 8:54
Darren: There was a pink dot, so new level required, but then there was a red dot with open gator so in the flow chart another new level is required. 8:55
Darren: But is this right. 8:55
Michal: no no but what i mean is when you got a setup 2 do you need new dot to enter on s2 or is enough if you get news aims level after first red dot printed when it's s1 8:55
Dave: I disagree with that Darren 8:55
Immy: Nope. fresh level is ONLy for pink. 8:55
Darren: Not on the flow chart. 8:55
Darren: Red dot, open gator, new level required. 8:56
Immy: if you were to jump from left side of the flow chart to the right side because of answer t Q4 is dot candle inside NO, Check Setup 2. 8:56
Dave: hmmmmm 8:56
Dave:
8:56Darren: and setup 2 needs a new level. 8:56
Immy: if you were coming from the top to the right side of flowchart, you'd not need that. but checking fresh aims or fresh levels is a general principle anyway. 8:57
Immy: By Setup 2 Grant means S2 Dots. 8:57
Dave: maybe better to think of it as "has the level already been broken?" 8:57
Darren: ahh 8:57
Darren: so a red dot with open gator no new level required. 8:58
Darren: as long as Aims is small. 8:58
Dave: correct 8:58
Michal: that change a lot
8:58Darren: and everything else is fine 8:58
Immy: when is a level the freshest? 8:58
Darren: That makes sense now. 8:58
Dave: the new level required is to stop jumping in with market orders, always pendings, and pendings need a level 8:58
Darren: ok 8:59
Immy 8:59
Darren: so a red dot with open gator no new level required. 8:58
Darren: as long as Aims is small.
I think If I remember correctly we addressed this in detail to Kyle. and then you as well?
Immy: 1 or 2 wks ago 8:59
Immy: We always do pending orders so if dot has broken, you need a new level. 8:59
Darren: yes 9:00
Immy: and we take entries only on AIMS levels and we do that on pending orders. so dot broken aims level cannot have a PO. 9:00
Immy: so Question is when is an AIMS level the freshest? 9:00
Immy: and what is the freshest aims level? 9:01
Darren: The latest one? 9:01
Immy: and an aims level is the freshest if its the last aims level created up or down does not matter, and as soon as the 5th candle that completes a fractal is printed, at the end of that its the frehest newest level. 9:02
Dave: yep, everything else is in the past 9:02
Immy: the most weight you must give is to the freshest latest aims level. 9:02
Immy: everthing before this level are historic levels 9:03
Darren: I think the flow chart is a little misleading if taken literally. As it stands you get a red dot, gator awake, need a new Aims level after the dot... 9:03
Immy: the older the level, the lesser the weightage. 9:03
Michal: exactly 9:03
Michal: that's what i was confused with 9:03
Michal: i was thinking if setup 2 need to wait for frresh aims after dot 9:03
Immy: and it took you only 2 years to find this out.
9:04Darren: Maybe that is what confused Kyle 9:04
Immy: or to spot it rather.
9:04Michal: it took me 2 eyears to find out the dots haha
9:04Darren: back in 15 mins. brb. Driving home. 9:04
Immy: in my book an S2 is ONLY 2nd aims level after sleeping gator and its near the first level. so I don't get bothered with this. 9:05
Dave: Same for me Immy.... e.g. GU M1 now 9:05
Dave: thats S2 short 9:05
Michal: cheers for that !
9:05Dave: Or DAX long now, S2 long 9:06
Immy: my S2 is either a gator sleeping inside a tight box near AO fresh cross, or open gator within the same tight box and frsh cross or the nex level after this initial break. perfecet examply is my YD long trade. 9:06
Immy: albeit a black dot s2 9:06
Immy: so not an s2. 9:07
Dave: yeah, but you know what I mean, pattern of levels 9:07
Immy: GU 9.21, 21 min past FO was S1 before dot. 9:07
Immy: the dot made it S2. 9:07
Immy: 9.33 is S2 break. 9:07
Immy: look for fresh aims level also refers to Teh Leverage Concept .this GU m1 example is great. 9:08
sam: red dot now 9:08
sam: big box 9:08
Immy: 9.08 red ot, but waves begun from up there, tall aims, so you need fresh aims level in order to know the peak/bottom of this wave pull back and then thrust again. 9:09
Immy: an S2 is not an S2 when AO is too old, and direverged. 9:09
Immy: a Setup is a Setup only when the Rules of the Setup have been met. 9:09
Immy: a hear a lot of us say, its a setup but so and so rule is not met. its technically flawed statement. 9:10
Immy: ok so this red dot, also needs a fresh aims level. 9:12
Immy: the freshest aims level is up. so the leverage for now is up. AIMS box trend and entry signal is Long at the break of the top of the box. 9:12
Immy: however m5 aims level box entry and trend indication is short. 9:13
Grant: back.... 9:13
Immy: WBack 9:13
»»» rayaims Enters the Room.
9:14
Immy: so if we took this short we'd be in 18 pips into the wave. and as the wave principle goes it is against the average. normally on m1 waves range from 15-25 pips. 9:15
»»» rayaims Enters the Room.
9:15
rayaims: hi guys. m5 kicked off withouth me this morning (trend carried on from last night) so all I can do is sit it out and wait
9:16Immy: if a frsh level was printed... then good short. chek pic. http://screencast.com/t/FnHpLhtcgq0 9:16
Immy: so its been a down down today just not getting good entry spots. 9:19
Immy: I know its easy to say that we could have just taken a short on m5 and left but.... 9:20
Immy: i think the most recent TZ1 study is more accurate. from from 8.47. 13 min prior to LO 9:21
Immy: how accurate is this count for now? http://screencast.com/t/ulwgrjg8w 9:23
Dave: Looks good to me, and could be said to complete the H1 C 9:24
Immy: I was just about to write that Dave. 9:24
Immy: thats if H1 is having a C down. and its going to do 5 of 5 up. otherwise we are looking at reversal A or 1 down. 9:25
Immy: a lovely 1-5 down completed. unfortunately no profitable entries for us. But we trade what we thought was a setup. that turned out to be Wave 1 down. so were were right in terms of direction. and followed setup rules. so all goo. 9:27
Immy: Dave and I traded Wave 1 down, LO entry. Moty traded wave 1 down of the 3 down. 9:28
Dave: should have traded at 10:24 - disappointed in myself for hesitating there 9:28
Immy: so the extra bit I have posted about Pink and Green dot takes this into account. If yo usee a pink dot. and its not too big candle, look for any close by level to the left. e.g. if its broken m1 level but m5 was too close anyway so take m5 level. but its a different option. 9:30
Immy: i was writing about the above myself Dave. 9:30
Immy:
9:30Dave:
9:30Immy: but really it did not look like wave 1 at that time. otherwise I'd just pull the trigger. (figuratively) no MO's for me. 9:31
Immy: Grant: if a pink dot has broken a level even less than 1 pip e.g. the 10.24 dot. does it not make sense to either take the entry or the next closer aims level? 9:32
Immy: well to me it does, but I know you won't change because you dont need to so you may chose to ignore thsi Q. haha 9:32
Darren: Back - thanks for the explanations Immy. 9:32
Dave: or the low of the m1 candle? 9:32
Dave: if youre quick 9:32
Immy: Grant is here, you might throw a few at him as well. 9:32
Dave: What are we throwing at him? 9:33
Immy: yes dave, but mostly not possible as its m1. so will be MO and if you're banned from MO then no. 9:33
Immy: used underwear 9:33
Immy: or flowers.. depending on your mood. 9:33
Dave: insults 9:33
sam:
9:33Dave: compliments 9:33
Grant: depends where in the wave seqeunce the pnik dot is Immy 9:33
Immy: C's 9:33
Grant: 10.24 i would have taken the level that it broke 9:34
Immy: interesting answer. so if there are more odds attached to it, and if you see the structure clearly then we can use it 9:34
Grant: yep... 9:34
Immy: 9594.7 level or 9591.9 9:35
Grant: if a clear 1-2 can be seen and it breaks by a pip then i would take the level... 9:35
Grant: 94.7 9:35
Darren:
9:36Immy: because it broke less than a pip 9:36
Darren: Things are getting clearer!
9:36Grant: yes and it still closed inside 9:36
Immy: i hope so. we've been doing it for years still take a few different entries haha. 9:36
Immy: Law of Chaos
9:36Darren: yep
9:37Immy: its fun to have a Seed next to pink dot. I like take it if low of seed is outside the aims level. 9:37
Immy: like to... 9:37
Immy: Grant: Darren was asking at 9.42 candle if you'd wait for Fresh AIMS level.
sine gator was open. 9:39Immy: Dave, you should have taken 10.24 (your time) as per your rules.
9:40Grant: is that GKFX time? 9:40
Immy: yes Gran 9:40
Dave: i know immy 9:41
Immy: 9.42 I don't even look at such dots but for learning purposes 9:41
Dave: few days away, lost the feel 9:41
Grant: no i wouldnt the level it was in would have been good enough.... AO mad eit no trade for me 9:41
Immy: same here. 9:41
Darren: Thanks Grant. I agree. 9:42
Immy: current red dot had big box. and entry was far from exit, i.e. green line and/or opposite box level. 9:42
Grant: np D 9:42
Immy: hope all's clear now? 9:42
Immy: gotta save this chat somewhere so we can throw it at others later 9:42
Darren:
9:43Grant: yep aims too big here 9:43
Michal: lots of information
check the picture attached. But don't worry about this stuff anymore. Pretty soon The Setup eBook will be updated and much simplified.