Immy, thanks for your wishes. I've got an influenza and rather severe bronchitis since last week already and it won't go away. So I don't feel too good and am at my desk only sporadically.immy wrote:Rest well Bettina!
Hope all is well!
I'm still sitting here, waiting for a breakout! (rofl)
No I meant this one : That's, what I've written ( It refers to the text i your slide ):immy wrote:Both of the entries are attempts to find a 5th wave. A 5th wave that has not happened. I am giving you one final suggestion. Do not look at m1 chart. Stay on M5 chart. only m5 chart of only 1 pair. No looking around 2-3-10 different pairs. Look at EU or EJ only. Look at only M5. Forget the rest.
Step 1. Wait for Gator on m5 to sleep and create a Tight AIMS box, sideways. Now wait for breakout. You do have option to check m1 and see if there is a Setup exactly where there is a setup on m5. So take the m5 setup on m1. Its a double setup. This way you may get into a strong m5 breakout but you'll pay less rent to make more pips. Thats Step 1 done. Now the trend is confirmed. Until then there trend was NOT confirmed since Gator on m5 was sleeping.
Ok now you wait for price to retrace back to Green/red line. Keep watching the M5 chart. when you see a Dot in the direciton of the trend or if you know can spot a BLT go down to M1 to see if there is a perfect setup. if not, come back to M5. thats it. stay most on m5 go down to m1 only when you feel that you want to be in this m5 trend. When you arrive at a spot where you'd rather be exiting an m5 trade had you take an m5 trade, you wont need to go down to m1 to get a better entry. Everyone keeps forgetting we use m1 to get better entry level ans smaller stop loss levels. We trade M5 but make entries on m1 and manage our trades on m1. The book says, keep m5/m1 side by side not m1/m5/m15 and h1 sidebyside. If you don't want to trade before the m5 breakout thats fine too. You will have only a few trades but HIGH Probability trades. Do not go to m1, unless you like the picture of gator and ao on M5 and you like the strength or the trend. otherwise there is no need to take entry on m1 if you don't like m5.
the pic attached is one you will not have taken. I did not take it, because m5 gator was sleeping.
Sending you love and prosperity and health Intentions!Bettina wrote:Immy, thanks for your wishes. I've got an influenza and rather severe bronchitis since last week already and it won't go away. So I don't feel too good and am at my desk only sporadically.immy wrote:Rest well Bettina!
Hope all is well!
I'm still sitting here, waiting for a breakout! (rofl)
Nasty, but it will disappear !
Bettina
I'd like to say, about the above chart is that, if you look at the m5 chart, where the yellow line is, thats where I want to make an entry, I will do anything to get an entry. This is one approach another is, you know you should be making entry and you wait for your rules to meet, and yo uwant to be strict about it, though trend is confirmed but you don't get proper setup as per your liking and so you don't trade it. Thats fine. But I'm more aggressive when trend is confirmed and ultra conservative when no trend.Bettina wrote:No I meant this one : That's, what I've written ( It refers to the text i your slide ):immy wrote:Both of the entries are attempts to find a 5th wave. A 5th wave that has not happened. I am giving you one final suggestion. Do not look at m1 chart. Stay on M5 chart. only m5 chart of only 1 pair. No looking around 2-3-10 different pairs. Look at EU or EJ only. Look at only M5. Forget the rest.
Step 1. Wait for Gator on m5 to sleep and create a Tight AIMS box, sideways. Now wait for breakout. You do have option to check m1 and see if there is a Setup exactly where there is a setup on m5. So take the m5 setup on m1. Its a double setup. This way you may get into a strong m5 breakout but you'll pay less rent to make more pips. Thats Step 1 done. Now the trend is confirmed. Until then there trend was NOT confirmed since Gator on m5 was sleeping.
Ok now you wait for price to retrace back to Green/red line. Keep watching the M5 chart. when you see a Dot in the direciton of the trend or if you know can spot a BLT go down to M1 to see if there is a perfect setup. if not, come back to M5. thats it. stay most on m5 go down to m1 only when you feel that you want to be in this m5 trend. When you arrive at a spot where you'd rather be exiting an m5 trade had you take an m5 trade, you wont need to go down to m1 to get a better entry. Everyone keeps forgetting we use m1 to get better entry level ans smaller stop loss levels. We trade M5 but make entries on m1 and manage our trades on m1. The book says, keep m5/m1 side by side not m1/m5/m15 and h1 sidebyside. If you don't want to trade before the m5 breakout thats fine too. You will have only a few trades but HIGH Probability trades. Do not go to m1, unless you like the picture of gator and ao on M5 and you like the strength or the trend. otherwise there is no need to take entry on m1 if you don't like m5.
the pic attached is one you will not have taken. I did not take it, because m5 gator was sleeping.
Yes Immy, exactly. I don't think, that I would have regarded this EU M1 as a setup or would have been very unsure about it. Probably I would have been very happy about the following red dot, which took away the decision --> of course no PO.
Grant thanks for your comment ! This is an important point. I always thought that an opposite dot wants to prevent me from a trade with lower probability or an entry which is still too early. ???
It's very difficult to answer on previous posts, but I will try.
I already skipped EJ again and watch only EU and will care more for M5. I tried that several times during the last year, and I know, that it needs a lot more of patience !
Bettina
A tight box and AO clsoe to ZL or not?immy wrote:Bettina!