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

[Bettina]

Immy,

my apologies that I didn't understand the "dot setup". I thought it was S1.

Thanks for your examples, but I've seen many, many of them. I know how they look, that doesn't help me at all.
What I would need, were examples, which look like a nice setup, but the gator can not be regarded as sleeping in a strict sense.
Unclear are always the cases inbetween, at the border, the doubtables, questonables, if you know what I mean.
But I will watch to collect some.

The beginning of all that were dots with gator open to the wrong side and / or AO on the wrong side.Grant skipped this problem last year by an additional rule : He didn't accept them in his dot analysis.
So his rules were really objective, but I watched :
- that you didn't have this rule
- one might miss a lot of trades by this rule

To put it simply : since then I don't know ( in many cases ) what to do with
- gator open up, AO positive and a sell dot ( if other rules met )
- gator open down and AO negative and a buy dot ( if other rules met )

So I thought there must be something wrong with my understanding of sleeping...the rest you know

Bettina

[immy]

Two Beautiful Setups one on EJ M1 and another on EU M1. Tell me you took them!

[Grant]

Nope,

EJ dot candle broke AIMS....

Grant

[Grant]

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

No let me correct that. I want the Gator to be Sleeping and or within a Tight box . then I would call it S1. The dot must be correct colour and dot candle must be inside the box.

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.

didnt copy the quote correctly (Imrans), this should be in my previous post highlighting the bold area of the quote

Grant

[immy]

Nope,

EJ dot candle broke AIMS....

Grant

For me, when there is a saddle point ,like this, the dot down does not cancel the long signal. It creates another sell signal. So I consider this as, ok we have a long and a short signal lets see which way it breaks out. In the past I would bracket it, but now I put PO only in the direction of the trend, V5.1 and all. Taking the breakouts in the direction of the trend.

IMHO>

[Grant]

Gotcha, there is that traders discretion again to curve fit a rule..... (rofl)

Grant

[immy]

Having said that, i totally agree and understand your reason for not taking this.

Let me also remind myself that we are after waves and trades that are in the direction of m5 and m5 itself has to be in the direction of higher time frames to get the best powerful trades. I constantly keep looking at m5 and then I look for a setup on m1. If I keep looking at m1 too much it can suck me in and I get lost too easily. so I have to be aware that the market does not hypnotize me. It really is a hypnotist. So I zoom out and see the overall picture. e.g. if you look at google map to get direction you'd see that at times you may start your journey completely in the opposite direction and many twists and turns (roads and crossings) would appear to be not in the direction of your destination (m1 going up while m5 is still down but m5 is in the direction of m15 or m1 going up but m5 is down but m15 and/or h1 is in a strong up haha) but you take to those turns and stops becasue that leads you to your destination. In trading we dont go towards a set destination, because no one knows where its heading, but the analogy is to point towards the fact that some waves may be against the dominant trend and could be the beginning of a new trend but in most cases, its best to stay in the direction of the dominant higher time frame trend. M5 is like the last one hour trend, (gator 13 candles and one hour has 12 m5 candles) where as M1 shows the last 15min trend. The m15 I think can shown the trend of the day. etc etc.
AIMS Wave shows momentum of price during the last 5 candles and compares it trend within the last half an hour on an m1 chart.

I hope it makes sense.

[immy]

Here is what I thought.

[immy]

Here is what I thought.

[Grant]

I can see that logic but at that time the m5 trend was down IMHO. see pic attached....

the last wave 3 shown by Ewaves is down and the last AIMS broken is a low. The red line is roughly the time of your pic. So at that i think trend is down using only the next higher TF.

but hey if there were no opposite views then there would be no market...

also regarding your pic you can see a lower high AIMS followed by a break of a lower aims, that also says to me that the immediate trend is down...

Grant