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

[Jasmien]

Thanks iMi for above charts. I never look at those BRN levels but will study the above. However I realize that I should take more note of obvious levels & e.g levels to the left...

[immy]

I think it is a way of "protecting your SL" and "setting target points". There is a chance of it hitting it. There is also a chance of "us traders" considering it, mistakenly, the holy grail, thinking in definite terms as opposed to taking things as a "possibility owith a probability value" a "an x amount of probability of one thing happening over the other"... so its something to study but also to make a solid rule around it. Otherwise it would just turn into a "superstition" and not very useful. Since we are going for 1R profits, if you are looking for a long trade and the box level to the left also happen to have a 00 level aligned with it, chances are that price might turn around those levels making it a good spot for target point.

hope this makes sense...

[immy]

I do meditation while I job or walk on the treadmill. Music is on and I allow the brain to drift away where ever it wants to go.

You should try it.

Some days' you get "nothing" as in no thoughts you're just focused on the breathing , the pain of the workout, or bored waiting for it to finish.

Other days stuff like this happens.

Today's meditation lead to the discovery of two things

1. Donald Trump is an error in the modern democratic system of the largest democratic country on the planet.
It's a test whether the system of USA is robust enough to eradicate errors like these or is it going to succumb to
the effects and become Trumps USA.

(I apologise if you are a Trump supporter. I still respect your decision even though it makes no sense from my point of view_

2. I've been pondering over the concept of CBO (Classib Breakout Setup) for a long time and finally clarity hits me.
As you know we have Setup 0/1 and 2. All of these are setups that go into Wave 5. The AIMS motto of
"Keep Working Towards TZ1" is fully applied here.

There is no confusion there. But then there is the Breakout or Classic Breakout or Raw Breakout Entry setup.
The appropriate name for that which would describe its nature more accurately is

Random Breakout Setup RBS versus TBS (Trend Breakout Setup.)

So Setup 1/2 and even Setup 0 are TBS where as a Classic Breakout like that happened on GU today. (picture below)

RBS.png

is a RBS (random Breakout) ...

RBS is a proper part of the Fruit Method. The risk and position sizing method of Fruit makes it possible to take RBS and still make money out of it.

However, The Setup method focuses on cherry picking the setups and only going for the confirm Higher probability setups.

What is RBS or Random Breakout Setup?
A RBS is a setup where Gator sleeps within tight gator and AO is close to ZL but there is No Trend prior to the setup.
When there is no evidence of TREND, or its a sideways market, a range bound market or when you simply cannot see a wave 3 followed by a wave 4, that is required to "create" The Setup Pattern,.

What is a Trend Breakout Setup?
Setup 1/2 and even some Setup 0's are Trend Breakout Setups. WE create our trend by looking at Purple (the trend of 5XHTF) and counting simple 3-4 on the AO, AIMS Wave or eWave or the most elaborate version of eWave called Snorms eWH.

We already know what Setup 1 is as explained in the video here viewtopic.php?f=7&t=1491
But can we take Setup 0? yes you can take Setup 0 as long you know that there is TBS The Setup Pattern e.g. EUR/USD M15 below

Setup 0 within TBS.png

You can see that purple is inside the box, making it a Setup 0 not a setup 1. But if its in your trading plan, and you understand the Setup Pattern, now called the TBS, you might be able to take this because it still follows the MOTTO , the concept of "Keep Working towards TZ1".

Hope this makes sense

[immy]

To Reverse or Not to Reverse
To Breakout Trade or Not to

Below, I copy something I wrote in the Slack room. Thought' I'll preserve it here.

1. Trader should know how to differentiate between a Trending Market and a Sideways Ranged / Boxed Market... on The Time Frame they are Looking at.

2. Keeping above in mind, you'll then know that different time frames can have different situations, one time frame is trending the other is sideways.(keep waves within waves within waves)

3. Keeping above in mind , one should trade both situations differently.

e.g. Setup 1 takes this information into account. A setup one tries to signal you, that the 5xHTF is trending while current time frame is sideway.
and since,

FACT: Higher Probably Setups are Breakouts in the Direction of Higher Time Frame Trends

that means there are higher chances of breakouts in the direction of the trend of higher time frame, (which means sometimes it will breakout against it as well) signal is created in that direction. meanwhile on the current time frame it shows a 3 and 4


4. Now when you trade Fruit method, that information does not simply vanish and dies. it's still valid. but you should be able to know what you were doing and translate it into fruit method. You should know this concept and apply it without indicators (purple) indicating it to you. if you don't yet know the above concept then try 5 batches of T20 using Setup 1/2 only.

The POINT I'm MAKING IS Hidding here

ABBC3_SPOILER_SHOW

Conclusion: from the above the point I'm making is that trade breakouts in the direction of TREND and Trade Reversals in the direction against Trend

don't trade reversals in the direction of RANGE or Breakouts in the direction against trend....

hope this helps and I made my point.

[immy]

THE RANGE OF FOREX PAIRS THAT CAN BE TRADED
Forex Majors:
EURUSD, GBPUSD, USDJPY, USDCAD, AUDUSD, NZDUSD, USDCHF.

Forex Majors Crossings:
AUDCAD, AUDCHF, AUDJPY, AUDNZD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURNZD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, NZDCAD, NZDCHF, NZDJPY.

No Exotics or Crosses of Majors with Exotics.

Some brokers offer indices but their times differ so not suitable for H4. D1 could be done. And of course anything intra day such as H1 and below.

[immy]

Here is an interesting picture

Very Important Picture.png

1000-ways-Skin-a-cat.png

[immy]

Setup 1 Setup 1 Setup 1 (of Setup 0 or 2 if you know you can spot a CLEAR TZ1 and going in the direction of HTF trend)

Forget everything just trade any Signal , Apple, Setup 1 Setup 2 or even Setup 0 as long as you can have a TZ1 that is at least 1-2R away.

There is nothing else you need.

Read this:

The M15/H1 combination of Currency Pairs is very powerful (Famous Setup etc)

Pursue this with 4 pairs and you'll be sorted for life growing your account to exponential levels. Patience and discipline as always, required.

i spam you with some lovely pictures I shared in Slack ...

[immy]

Today we saw a beautiful 1-5 completed on m1 within the first 2 hrs of London Open.

First it broke into an up wave creating that wave 3.
Then it went sideways to create a lovely wave 4

and then a nice wave 5 up that hit TZ1 to spot on.

Even saw a PC pattern on m5 which clearly translated itself into a nice abc within a wave 4 on m1.

The Perfect 1 to 5.png

Wave 5 done.png

PC on m5.png

PC W4 on M1.png

Fruit short.png

[immy]

2 Setup 1's

This is how the H1/M5 Setup works

You just have to learn how to read Candles on H1. 2-3 Bullish Candles followed by smaller 1-2 bearish candles. will lead to a Setup 1 one on M5.

H1-M5 Setup Bearish.png

H1-M5 Setup Bullish.png

2 Setup 1s in a row.png

[immy]

GKFX offers 30:1 Leverage on the major pairs. The rest of the markets are just impossible to trade.

leverage.png

Hence these are my pairs for H1.