Thursday, 14 April 2011

Finally Some M5 Trades - EJ and EU

When I woke Up I saw EU had trend up over night. So I said to myself, oh well, we're into the 4th again. However around  London Open it started retracing, and around 9am UK, we had a saddle point.
Three Rules of Entry
Rule 1. Price Inside AIMS (note aims levels should be not more then 20pips apart)
Rule 2. Alligator Inside AIMS
Rule3. AO Close to ZL.

All rules met, but I procrastinated, because i was scared to be honest. So i said let it prove itself. and it did.

I did not want to bracket as I thought it was too early for long, it had to move sideways. I did not take the first break  but was eager to take the second fractal down. it did not go anywhere for a while but I was determined. and then it just rolled nicely.


Setup 1 and Setup 2. 


The AIMS level just before we have made an entry would be Setup 1. That is where alligators mouth is closed. However our entry was made into Setup 2. The 2nd Fractal/AIMS Level out of alligators mouth. 


EUR/JPY

Similar on EJ, though I missed the beautiful saddle point I thought it would be unwise to miss the second fractal out. it paid off handsomely. Added on twice which took the total near 100. Nice day today.