Principle Five (P5) The 5 Wave Correction
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 14
Re: The 5-Wave Correction
another one.... 1-5 shown on eWave shows ABC retrace
You do not have the required permissions to view the files attached to this post.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 14
Re: Principle 5 - THE WOW Factor
This stuff is amazing!
You do not have the required permissions to view the files attached to this post.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 14
Re: Principle 5 - The 5 Wave Correction
I just noticed my previous post has a picture almost identical to this one.... this in its own right is a confirmation of the power of this Principle Five (Five Pronounced in the Alabama Accent) (rofl)
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 14
Re: Principle 5 - The 5 Wave Correction
To End the Day... Another P5
You do not have the required permissions to view the files attached to this post.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
snorm
- AIMSter
- Posts: 305
- Joined: 13 Aug 2011, 22:57
- 14
Re: Principle 5 - The 5 Wave Correction
Give a man a fish and he'll eat for a day; show him the P5 and he'll eat for a life time.
In your last pic the eWave didn't label the 3-4-5 within the W4 but we did get nice divergence preceding the TLB - so perhaps that should be the P3
)
In your last pic the eWave didn't label the 3-4-5 within the W4 but we did get nice divergence preceding the TLB - so perhaps that should be the P3
)-
snorm
- AIMSter
- Posts: 305
- Joined: 13 Aug 2011, 22:57
- 14
Re: Principle 5 - The 5 Wave Correction
Trend lines - drawn correctly can get you in the trade close to the W5 peak, reducing pip-risk. I've used Herbert's great trade example from his post http://www.itradeaims.net/forum/viewtop ... =250#p6163" onclick="window.open(this.href);return false; to show how I would have drawn the primary, secondary and tertiary trend lines (green, orange and red respectively). I've taken AIMS Boxes off for now - no offence Immy 
(I do use them really). eWave count not shown as a past example - ok, so I could have used Strategy Tester :-B
Again, my favourite way of posting, a picture says a thousand words ...
(I do use them really). eWave count not shown as a past example - ok, so I could have used Strategy Tester :-B Again, my favourite way of posting, a picture says a thousand words ...
You do not have the required permissions to view the files attached to this post.
-
snorm
- AIMSter
- Posts: 305
- Joined: 13 Aug 2011, 22:57
- 14
Re: Principle 5 - The 5 Wave Correction
Nice example on cable daily. 270-odd pips already done since the break of the primary TL.
You do not have the required permissions to view the files attached to this post.
-
Herbert
- Free Member
- Posts: 587
- Joined: 07 Jan 2012, 12:18
- 13
Re: Principle 5 - The 5 Wave Correction
Eish. Now THAT is a koeksister and vetkoek occasion. =p~Nice example on cable daily. 270-odd pips already done since the break of the primary TL.
Luck = LABOR UNDER CORRECT KNOWLEDGE - Forex Joe
"Nothing wins more than superior research and preparation"
AIMS - The art of Trading markets successfully
"Nothing wins more than superior research and preparation"
AIMS - The art of Trading markets successfully
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 14
Re: The 5-Wave Correction
On 15 of May we posted a picture above, of EUR/USD Dailies and projected that there is a "probability" that it may drop to atleast 1.2479.immy wrote:My perspective on the 5 wave correction pattern, which is IMO essentially a an ABC correction of Wave 4. Very useful to keep you from trading during hte fourth wave retrace and ready for the 5th wave down. I have a few pictures here.
Some of them might need some correction, hoping Steve will comment.
Just thought I'll remind everyone that the Projected Target Point has Now been Hit!
Hurray! Well Done Steve again also on your Target of it hitting 2800 when everyone thought it was going nowhere.... \m/ ^:)^
But it could still go further
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 14
Re: Principle 5 - The 5 Wave Correction
Moreover it was projected that it might do this on the 28th of may. Oh well it took one more day!
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!