Hi RandyRandy Cha wrote:Hi Immy and Steve,
Thanks so much again for the magnificent work done so far.
The eWave counter/indicator makes our life even more stress-free...thanks for pampering us.
Recently, I am trading using AIMS at higher TFs because of my day job. So far, AIMS has treated me well. Last time, I always look out for wave 3 and wait for setup 1 to re-appear to ride on wave 5. With this indicator, I believe I can spend more time on TF 1 min as well.
Just a few questions, gentlemen...
1) with this indicator, are we just trading wave 5 and taking profit at the displayed TZ? Any chance to trade wave 3 and TZ also displayed as well?
2) looking at which side is the price relative to the purple line, if it is above, we will go for the green wave numbers (3, 4, 5) on the chart and vice versa?
3) entry-wise, we will look out for red or blue dots after wave 3 appeared and use AIMS box for entry and SL? Do I still need to worry about setup 1 and 2?
4) if I want to use the indicator on TF 1H and 4H, are there anything additional to look out for?
Hope to hear from you gentlemen.
Rgds,
Randy
I think I'll let Immy answer your questions about what and when to trade but I think he will say something like "we trade the setup, not the waves"
The Waves are as much about telling us when to avoid trading, as they are when to look for trades. The W5 Fib Projection is a great benefit of the indicator, showing something that is very trade-able and often repeated - but that isn't all we use the indy for. You can of course trade W3, that's the impulse move that we all want to jump on early, using the setups. You can do your own TZs, using manually drawn Fib Expansions though I will ponder doing some automatic ones in due course (based on my Fractal Fib Expansion indicator).
Your point 2 is good. Point 3 - trade the setups as normal (I think Immy will say)
Point 4 - nothing to change with the indicator, you can use as it is.
cheers
Steve
PS just as I was typing this post, Immy posted his response
