How to Use The Flow Chart to Create The Setup Signal

[chris2var]

Hi Ian,

I just downloaded it again, just to see if it's corrupted, it downloaded fine and I printed it ok as well.

Are using acrobat? (I actually use foxit reader, its a much lighter/smaller program) , is the whole document printing in black and white or just the background shading? if its the whole document then maybe it's set to print greyscale, other than that I can't think what else it could be.

Chris

[insc59]

Hi Chris,

Once again thanks for the reply - I use Adobe Acrobat and its only the 3 shaded background areas which dont print in colour. It may well be my printer so I might try it on a printer at a photo shop and get laminated also.

Ian

[chris2var]

Ian,

One (actually two) last things you could try
if you can do a print preview from your printer driver (see pic for my printer properties) and see if the preview is correct, if so then it most likely is something to do with your printer.
Also maybe you could do a print preview from adobe (like I said I use foxit reader and when I go to print I automatically get a small print preview anyway) I don't know what adobe does, you may get the same or not, if not you should be able to get a print preview from there.

Find attached two self explanatory pictures.

Chris

[pipvic]

Does the flowchart refer to the M1 or M5 chart?

[leoneill]

Does the flowchart refer to the M1 or M5 chart?

That would be the M1 chart. Setups are made on the M1 chart.

Grz Eric

[zainfakhan]

As per the rules, we have to check the purple line is on the right side. What if the purple line is in the aims box.

[immy]

As per the rules, we have to check the purple line is on the right side. What if the purple line is in the aims box.

When purple is inside the box and when you take the trade its going to be the break of AIMS level so no matter you take long or short you will be on the correct side of purple i.e. e.g if all other rules have met and you agree to take the trade if its a long setup , your trade will be on the correct side of purple i.e. price will be above purple for long and if you take short trade and its a short/sell setup purple will be above the price level of your pending order. One thing though should be noted is that if purple is inside the box it may be an indication that m5 might be going sideways but its not always the case as price could have broken out of range then pulled back to red line on m5 and it might appear as if the market is not trending on m1 but a quick look at m5 will clarify this.

I hope this is clear and it helps.

[naqviimran]

Hi Immy/Grant:


I have been using the classic setup for like two months now - 1 month of demo trading and 1 month of live trading - and it seems that I make new mistake every single day. Initially, when I paper traded for a month, I successfully took trades on M1, while unknowingly disregarding the direction of M5. However, as I kept exploring your journal I started to know the importance of peeking into the M5 to know the direction of the intraday short term trend, this has slowed me down and lowered the number of setups that I could take.

A case in point is one setup on M1 today, where it seemed to shoot up (it had the double arrow) but when I switched to M5, it appeared that AO was turning dark green and losing momentum although gator mouth was open. I did not take the trade and it blasted. This darkening AO has become a mental block to me.

Can you please suggest a way to clear my misconceptions around this.

Alongside, what is "monarch". Have attached the pictures.

[immy]

I'll keep it short. As long does not help.

You seem to be on the right track one correction throuhg.

The Dark tones you pointed at, on your m5 chart is EXACTLY WHAT WE WANT for a SEtup 1 breakout like so on m1.

THAT IS THE MONARCH.

Spend some time watching the Video in the Main Hunt topic as i suggested in your previous post. You'll get it. I'm sure.

ps: can you really trade stocks on m1? is there enough volume and activity?

[naqviimran]

"The Dark tones you pointed at, on your m5 chart is EXACTLY WHAT WE WANT for a SEtup 1 breakout like so on m1.

THAT IS THE MONARCH."

Need more help on this, brother.

And yes there is enough volume and volatility for M1, since I trade stock futures.