THE NEW Strategy --- THe iMi Method

[immy]

1. Ref to post above, could you have done that TZ1 trick with or without the ewave? think about it?

2. Why do we use boxes and why not

The boxes are Clear Cut information generated by the market that prices turned around those levels. It becomes more interesting when it creates more fractal levesl, that is box highs and lows near the previous box highs and lows. One box is simply not enough for a breakout trade, unless the trend is established and you're simply getting in but box entries can often be worst locations especially if there is huge distance between a box high and low.

The cherry signal is the answer to those levels. But we don't want to use all those indicators to do that. How effectively can we then use this information.
The answer is "Stacking factor" ... You look for more than one reason to take a pin/outside bar on a pullback. Now these price formations/ bar formations, such as cherries can be taken in many ways. But I'd prefer to take cherries that are proper pin bars or outside bars.
The other factor I'd like to add to this is I'd be looking for adding more factors to increase the odds of my trade.
1. is it a trend based entry or boxed entry?
2. Is it reversal entry with divergence or is it a pullback entry
3. Is there S/R zone. e.g. box break, then pullback to that box level.
4. is that s/r zone also coinciding with previous levels to the left where box based S/R was formed. S/R is siimply the break of strong box area (box highs or lows) and then that box high turning into box lows.
5. if the signal near the peak of 3, bottom of 4 of peak of 5? if peak of 3 is it within a higher degree trend or counter trend? if peak of 4, has it reached the 4 of previous 3? or has it reached 38 or 50 ret?

Now the above might sound like a lot of things but if you work on those, and we will be doing videos on this to further enhance the understanding, you will increase your win rate to well above 70%. That would then mean, that even small 1 or 2 R winners would keep our accounts growing.

Boxes or no boxes, then depend if you can SEE those levesl on a naked chart or NOT.

so what works for you?

[immy]

You can predict price in the short term pretty easily and quite accurately using S/R that is box levels, (trend or gator lines) Fib Exp and Retracement and simple bar highs and lows. For H1, you can simply look at D1 bars, at night and figure out which was is it going and what is the next target. in the am, when market opens, you then wait for price to enter that "box" where you're trying to trade "from entry to exit" and look for your entry price formations.

e.g. A Bearish Outside bar on D1 chart, formed at a pullback , lets say off the previous box lows or gator line or TL or whatever you use or combination may be even a strong BRN. you look to the left if the bar is in trending market with nothing much to the left of it, aprt from the pullback bars, your first target might be the box low ... you mark that low of OB and BOX low as your BOX of trading. Go to H1 and find your entry there.

a strong OB on d1 is oftne a strong 3 on H1.
What happens after 3? we have several possible outomes. at tiems it will pullback 50% of the wave 3, i.e to say that on D1, most outside bars pullback around 50% of its range...
you can then utilise a Pin/OB on the H1 or H4 chart around those areas to get in. thats 1.
the second one is on a break of the low of the OB, that is low of Wave 3. this is utilised when wave 4 is a flat one .Famous setup. price is boxed over night. or may even be the whole of the next day. because price is in a sideways range, you will then utilise the break out of the box technique here.
if price forms a clear IB near open line, that will give you even more profit.

Now the question is why am I talking about this? the reason being, if you are looking to trade ONLY inside bars like we do, and you incorporate this information into it, your chances of success will INCREASE , it will be a quantum leap. you will KNOW where price is and where its going instead of taking a blind shot.

[ppandekar]

Back from extended weekend. Lots of things to catch up on forum and skype. I'm adding GOLD to my list.

[immy]

UJ targets 100

why?

[ppandekar]

Today markets were moving. i took most of the signals. UJ, DAX, XAU is at FT and running. Plan to run it on H4.

[Darren]

I took 3 trades today. GU was a rent and in hindsight the box to the left was a bit close to make it to a FT so maybe I shouldn't have taken it. According to the 'box seed' rules it was valid though.

2016-09-26_1952GU.png

I took the swissy after a breakout but the volatility died after I took the trade. I eventually saw the price bounce off the support level of the Aims box to the left but the ask price didn't quite make it to a FT (the bid did!) so I took half off manually just in case it bounced all the way back up again, which it did. Trailing Aims at the moment.

2016-09-26_1954UChf.png

UJ also had a BO then a seed so I took it but again volatility was much to be desired. It eventually made it to a FT and I am currently trailing Aims.

2016-09-26_1953UJ.png

[ppandekar]

XAU is BE. UJ is not moving much i've moved SL to BE instead of trailing candles to allow more room if it were to move tomorrow. DAX is running.

[immy]

GU

[immy]

why i did not go long on gu

[immy]

UJ

2016-09-27_08-52-29.png

ps: watch how this pin bar was a good shortsignal. not just because pin bar was "good looking" but because it bounced off
1. TL
2. 1.1
3. it has space to go down to the next TL or 100 level