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

[Michal]

YEs i caught a train EJ and 16 pips with it ) could be more but for begining is good :D Thank you supportive team hehe

Immy and what about the entry on m5 for long just 1 pip above or 1 pip + spread..?

[immy]

Chaos is dynamic and non linear whereas our charts and our technical analysis is all linear. So we have to bear that in mind and know that the market conditions are not always suitable for the time frame of our choice.

Many of us don't know or forget the most important thing about trading shorter time frames.

WE TRADE M1/M5 OR ANY SHORT TIME FRAME TO TAKE ADVANTAGE OF THE VOLATILITY AND MOMENTUM. When the markets are not even moving on higher time frames, there is no reason you want to go down to m1 and trade it. So once you are aware that the markets are generally not moving, since we don't trade higher time frames, we stop trading or become cautious. Another thing to remember is when higher time frame is 4th wave, everything under the umbrella of 4th wave is crazy, ewave would not make sense. It all makes sense when the higher time frames are in impulse wave. So where are are more ticks coming our way, the more beautiful the wave would look. .

And now get read of a setup on EJ ! Long.

ps: Michal , the 1 pip + spread is good all the way till dailies. But some people give a bit bigger cushion say 5 or 10 pips when trading h4 or daily. I don't why they do it, but it really does not matter because usually you need 100-150 pip so in relation to that 5 or 10 pips really not a big deal. But our time frames, every pip counts.

[immy]

Thanks Tomi and Immy,

Now I see open aligator up at EJ M5, now I will wait for setup 1 up at M1 EJ )

EU is going up too .

Oh Yes, now its open, and its out of range. Now we are the Tigers of Tamil Nadu! rather the Bengal ones... now we are the Samurais! we attack!

[immy]

I have noticed that compared to EU, EJ responds quite a lot to the round numbers. So gotta be careful around these levels. not that it should stop you from trading, but they seem to be good Target areas, if you know what I mean. So if there is a setup from 80 level, would nicely give 20 pips towards teh 00 level and coming down from 20 level to 00 level. but it always breaks it eventually... ?

[immy]

We have S2.

[immy]

We have S2.

looks like its a B up.. damn it...

[mirgi]

I am at EJ M1 in from 121.989

[immy]

We have S2.

looks like its a B up.. damn it...

and it was a B Up! (whew) but if I took it, it would have been a tiny rent on 3-5 pips. no big deal. I wonder if I should have taken the short...

[immy]

I am at EJ M1 in from 121.989

tiny rent I hope! don't feel betrayed.... at my stage, having traded over 5000 trades, you do get intuitive hits form time to time, but I cannot rely on it. and a beginner can not 100% because a beginner cannot distinguish between those inner voices whether they are Fear based or "divine intelligence" "being in the zone" intuitive hits. Never mind, NEXT.

[immy]

EU looked like, it was a setup. still too early for it to show signs of success but below is the picture how I got in.