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

[immy]

The one in the picture, I remember quite clearly how I saw it just before news. It is a Dot setup. I would have taken it because I'd be trying to get into a 5th wave.

That clarifies a lot.
I never, never would have thought this could be a S1 setup.
- Box not tight
- gator crossing in the box, but not obviously sleeping, open to the wrong side at dot time
- AO not close to ZL

The reason why I ask is : I had that several times. Whenever I try to follow all rules on M1 and M5, I don't get one single trade, because I don't understand the rules or they very rarely are valid.
If I trade, as I would interprete them, I have nothing but rents.

1 ) What is sleeping ?
- You said : Not open. When ? At the beginning of the box ? at dot time ? at possible break of the box ? Opening at dot time irrelevant ?
2 ) What is close to ZL ( if not Steve's colours ) ????? ( In the picture of the last EU M5, AO is blue and not yellow )
3 ) What is tight ? You don't regard everything below 15 as tight, do you ?
4 ) Still not sure about M5 needs ?
( See question in last post )

Bettina

1 ) What is sleeping ?
Answer: a. red/blue/green intertwined b. red and green crossed but not touhing blue but close to each other c. blue/red/green inside a tight box . all or any of the 3 combination would mean Gator is Sleeping. Look at the picture not the values

- You said : Not open. When ? At the beginning of the box ? at dot time ? at possible break of the box ? Opening at dot time irrelevant ?
Answer: Please ignore the Not Open comment, i actually meant, closed. If its not open then it can only be one thing. Closed. and closed means sleeping as explained above.

2 ) What is close to ZL ( if not Steve's colours ) ????? ( In the picture of the last EU M5, AO is blue and not yellow )
Answer: Look at the picture not the values. I have never looked at values so thats why I never used the orange. I'm not a values/numbers guy. I like to see the picture. Since its dynamic it keeps changing. Today .006 might be close to ZL tomorrow it may be far. So picture wise, in a subjective way, 2-3 bars each side ZL = Close to ZL.

3 ) What is tight ? You don't regard everything below 15 as tight, do you ?
Answer: Tight is tight. its different for each pair as you know and diffferent for each time frame. E.g. today, EJ 15pip box would be too big, because the market's wavelenght was not too big. But there is an easy way. Relative to the other box, you have to check. We know that anything below 15 pips on m1 for EJ in most cases is Tight. these days, 10pip is tight for EU. But if you're in a chop, 10 pip may be too big whereas when it breaks out and moving 50-60 pips 10 pip might become quite tight. Its ALL ABOUT defining risk relative to the profit potential. We know that EJ can do 30-40 pip waves easily, so if you risk 15pips, then that would be a good risk reward ratio based on positive expectation.

4 ) Still not sure about M5 needs ?
( See question in last post )

[immy]

Hi Immy,

thanks for your answer, but still there is something.

S1 = on your current Time Frame Gator is sleeping. And I would call it sleeping if the lines are NOT Open, or intertwined or just inside a Tight Box.

So the gator might cross and open UPWARDS in the box, if you want to SELL ??
Open in the wrong direction at dot time ?

Is this one an S1 on EU M5 ?

04-03-2013 eu1.png

I have another question : If M5 gator is sleeping, what do we really need ?
Sometimes I read: We need an S1 on M5, sometimes I read that we need a breakout ?
What do you mean exactly.
Thanks for your patience !
Bettina

Answer: We need an S1 means, we need a setup where Gator lines are tightly intertwined WITH tight aims box so that we will have to risk relatively less number of pips to find out if its going to break out and rise or fall considerably so that we can make at least double of what we risked.

[immy]

Hi Immy,

thanks for your answer, but still there is something.

S1 = on your current Time Frame Gator is sleeping. And I would call it sleeping if the lines are NOT Open, or intertwined or just inside a Tight Box.

So the gator might cross and open UPWARDS in the box, if you want to SELL ??
Open in the wrong direction at dot time ?

Is this one an S1 on EU M5 ?

04-03-2013 eu1.png

I have another question : If M5 gator is sleeping, what do we really need ?
Sometimes I read: We need an S1 on M5, sometimes I read that we need a breakout ?
What do you mean exactly.
Thanks for your patience !
Bettina

Answer: We need an S1 means, we need a setup where Gator lines are tightly intertwined WITH tight aims box so that we will have to risk relatively less number of pips to find out if its going to break out and rise or fall considerably so that we can make at least double of what we risked.

Answer: A Setup 1 means, The Core Setup where we have the three Rules Met.
Rule 1. Gator is Sleeping
Rule 2. AIMS Box is Tight
Rule 3. Exit is Near
(gator lines and aims box level are near so that if its a fake-out you will risk less pips to find out)

[immy]

The bankers etc have found out that all you have to do is, wait for banking hours to finish and then start trading.... IDIOTS

[immy]

The bankers etc have found out that all you have to do is, wait for banking hours to finish and then start trading.... IDIOTS

thats a joke btw... just incase someone takes it for real! haha

[immy]

The bankers etc have found out that all you have to do is, wait for banking hours to finish and then start trading.... IDIOTS

thats a joke btw... just incase someone takes it for real! haha

[immy]

The bankers etc have found out that all you have to do is, wait for banking hours to finish and then start trading.... IDIOTS

thats a joke btw... just incase someone takes it for real! haha

[Bettina]

The left dot is my example. Now you say the gator is not sleeping ??
How can it be an S1 then ?
Oh , oh, gordian knot !
Bettina

[Bettina]

No doubt : this is a sleeping gator

04-03-2013 Sleeping.png

The question was, whether these are sleeping good enough for a sell :

04-03-2013 notsleeping 1.png

or

04-03-2013 notsleeping 2.png

[immy]

No doubt : this is a sleeping gator

04-03-2013 Sleeping.png

The question was, whether these are sleeping good enough for a sell :

04-03-2013 not sleeping 1.png

or

04-03-2013 not sleeping 2.png

I look at the overall picture. The overall picture (i.e. 140 candles) helps me prepare my mind for taking a trade in a certain direction. If the last 140 candles do not tell me which direction I should be looking to trade, then I don't trade. Having done that, once I establish which way I should be trading, I can go short the way I did on EU M5 earlier, or I would have gone short but I did not because of News. So it ranges from tightly sleeping to slightly open in the direction of trend to even at times, slightly open to the wrong side, provided that risk is less. My favorite being, 3 lines inside box , a relatively tight box with purple either inside the box or preferably just above the box (for shorts).

I hope this helps.

But please do not hesitate to fire another question because this is important and we need to get it right. pitty we are still stuck in the basics, but so what, we gotta clarify things once and for all..