How to Trade Higher Probability Setups - How to Trade DA

[immy]

How to Trade Higher Probability Setups - A New Dimension
How to trade the Double Arrows - The uses, benefits and advantages and the concept behind the DA!

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How to Trade Higher Probability Setups - A New Dimension




There are more posts below, that gives further information, in pictures format, about this concept. Please Read

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How to Filter DAs to catch the Highest Probability ones?
You can filter some DA's when you see that the price has moved too much during that day or when you see that the Wave count has completed. Basically, you're trading Breakouts (S1) in the direction of higher time frame trends. but you gotta make a judgement and find out the "positioning" "location" of The S1 setup (on M1) within the wave (on m5). (for higher time frames just replace m1 with say m15 and m5 with h1 and so on and so forth)

Another thing to bear in mind is since DA is sensitive to Gator Lines at times visual inspection of the higher time frame will lead you to understand the picture better. E.g. the higher time frames may be essentially going sideways open up and then opening down, during this time while price is range bound HTF DA's may be appearing up and down. The fact that you get up and down DA on m5 within one trading day is your clue to suspect it and filter it. We want the DA to appear on m5 when H1 has freshly broken out of range (s1 on H1) and then a few more waves until the H1 eWave matures and peaks. We don't to be looking for DA after its already given us 3-5 setups previously while H1 was creating a nice lovely wave.

[Tomi]

Hi Immy
Definitely watched it! For me the main point was to be willing to wait for M5 to trend. It's tempting to try the breakout trade but still it would be much safer to get in after M5 trend is clear. Even though there are missed pips after breakout. Patience is the key.
Kind regards
Tomi

[immy]

yes,

The breakout trades, are the ones that has comparatively higher probability of rents, on the contrary if the Gator is open on M5 (trend confirmed) and you see a setup 1 on m1 (breakout setup in the direction of higher time frame trend), you have more chances of success.

Sometimes, you will get into wave 3 after a 1-2, other times you'll be getting into wave 5, and sometimes those Wave 5's will turn into new Wave 3's, ideal situations. In general Wave 3's are not 20-30 pips. The real Wave 3's on m5/m1 are at least 50pips over. Just a guideline. So next time you see a 30 pip wave 3, there may be a possibility that what you think is 5 could turn in to 3 and you get some proper pippage.

Trend Trading is what we are after. Eg. you see an arrow / double arrow on m5 and then there is a break out, one could try to take those breakouts, because there you know that the breakout on m5, is actually in the direction of higher time frame trends, but still best to wait for those lovely, aesthetically pleasing charts and setups.

Good Night from me!

Have test of the chatroom when you have time! look below... there is a chatroom

[arnoprofits]

So, did you guys watch it, what do you think! or are you going to just watch and forget (hug) (rofl)

Hi Immy; I'm watching it over and over and over again......you haven't heard from me since my introduction; cause I'm reading, reading, reading and reading again.......sometimes things do not make sense,but I'll get there. I m so hungry to learn.....this whole concept is so new to me since i ve been only trading bigger timeframes with a different system, but I'm starting to like this so mucha and am so excited, you could weld with me....ha ha ha ) I'm still confused sometimes and doubt but I will carry on reading and reading and learning!
Immy, a huge compliment to you and your guys.....this is AWESOME and I appreciate your transparency and honesty with and when working with people....you are such a blessing!!!

Arno - Namibia ^:)^ ^:)^

[bgbearnavy]

Immy,

How do you make the arrows different colors, and having more than one. Little red on big yellow?

[immy]

Immy,

How do you make the arrows different colors, and having more than one. Little red on big yellow?

Yes, thats how I have achieved this (by attaching V6 twice) but we are trying to get that similar function into one indi.

cheers

Edit 1Aug 12 - No need to do t hat any more since we now have AIMS S1 Alert that does it automatically.

[immy]

How to Trade the Arrows.

When you see a Double Arrow

2 Step Process

Step 1

- Check if the Alert is pointing to a correct Setup 1. What is a Setup 1?
Check the 3 Rules
Rule 1. Is Alligator Sleeping?
Rule 2. Is AIMS Wave Close to ZL?
Rule 3. Is Exit Close Enough (AIMS box not too big)

If the Above criteria is Met you have a basic Setup 1 in place.

Now do Step 2.

Step 2

- Check 1 Step Higher Time Frame. e.g. for M1, Check m5, for m5 check M15
- Check 2 Step Higher Time Frame e.g. for m1 check m15, for m5 check (not m30) H1.
You ought to check the time frames as per the settings you may have in the AIMS S1 Alert.

What to look for ?
1. Where are we in the wave, are we in a fresh wave 3, are we in Wave 4, are we in fresh wave 5? or has the 1-5 wave completed. We use AIMS Wave to count this, or just stick eWave and have it done automatically for you.

Do the above for one Step higher time frame and then for 2 Step Higher time frame. e.g. if you see a DA (double arrow) on M5 check M15 first followed by H1.

This above is what I call 140 bar analysis.

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01-08-2012 12-16-31.png

Like wise while trading higher time frames you can go down to lower time frames and do a quick wave analysis to check the health of a wave of just to see where you are in the wave sequence. but remember we dont trade Elliott Wave we trade the Setup. The Grounded Assessment is the Setup, Elliott Count is ungrounded.

[immy]

In the following EUR/GBP M15 Chart we see a double arrow during Asian Session. It looked perfect setup. So we now check H1 for it. on H1 we find we were in a 5th wave but a 5th of 5h wave still possible. and it did. Still not hit the TZ1 on M15 but still in the TZ1-TZ2 area on H1 which means chances are that the trend might end here.

01-08-2012 13-29-32.png

01-08-2012 13-30-34.png

[Herbert]

Immy, only came across this video now.

Quite an edge you are depicting here!!! there is nothing stronger and more simpler than what you show here.
In this instance, M5 next fractal level makes perfect sense.

"with time you will love it" >> (with trend you will love it) :-bd (*)
Awesome!
Herbert

[Dave]

These are excellent pictures and lessons. Thanks very much Immy!

Dave