Skip to main content

EUR/USD Strategy

EU is still range bound on the H4/H1 chart. However it did provide a nice short during Asian session. I woke up to what many call choppy period. Hence I started waiting for that right moment. When the setup is just right. Finally the AO was close to ZL and Allgiator lines inter twined. It was a setup on M1 as well. But following my rules of not trading m1 if M5 is at a saddle point I put pending on M5 level. Later added on at the peak of 3rd wave on m1 chart and exited on what I thought was a completed 1-5. (time will tell.) Note that 5th wave could not be confirmed on AO since its peak is higher than previous but I believe that is because we dont have sufficient number of bars on AO. we need atleast 100 bars whereas at this point we have only 65 or so.

Setup 1 : Picture of M5 to the left in the picture below is an Example of Setup 1. Alligator mouth was closed.  Setup 2 : M1 shows two entries both from Open Alligator. The first entry is higher probability where the second entry is only only only taken because there was already a profitable position otherwise the second entry will not not not be taken on its own. Had we missed the first entry we would wait for next Setup patiently.

Edit: 11.35am While Creating this stuff I forgot to pay attention to the charts hence missed the following. But I thought I'll do my analysis on it and post it here. and never again post during trading time....

SETUP 2
The Following is also Example of Setup 2. The Short trade that triggered at 1.40678 an Open alligator setup 2 Trade. 



Edit: 16.26

another example.

The Setup  - Setup 1 and Setup 2 Example


This is very interesting. The fist entry is based on Setup2 since at the time of entry Alligator was open to upside but all three rules were met. AO was close to ZL and price was not away from alligators mouth. The "Opposite side of AIMS" that is the lower aims on the opposite side of where we entered the market was also not far. That is where we put our SL.  The second entry at 1.40788  was example of Setup 1. Alligator was asleep. AO was just below ZL and ready to crossover, perfect Wave 5 situation. (not because it was setup 1 or setup 2, but becaue AO had peaked Green so the next Wave could only be Wave 5. )

Edit: 16.41

Even Better



Note: You must understand I dont do this for you, its for me. Please dont wonder why I'm doing this. Without this I forget. So I keep doing this day in and day out. I've been doing this for 2 years now still If I have a blissful weekend I struggle on Monday.

H1 AIMS Levels.

When H1 is doing a 4th wave i.e. sideways its AIMS Levels become very important.
Like the classic range bound trading technique we can sell the peaks and buy the bottoms.
The following picture shows a bit of what I'm trying to record.
Entries to be made only when a setup appears however, Targets can be very easily identified
with combination of our usual exit techniques.


Popular posts from this blog

Count Elliott Wave within 10 Seconds

After Reading this material you should be able to do the following:
Objective 1. Understand Elliott WaveObjective 2. Count Elliott Wave within 10 SecObjective 3. Learn how to use AO
Objective 1


What is Elliott Wave? 

We believe the market has a structure. That structure is Elliott Wave. We also believe that the structure also has a structure and that structure is shown to us on our charts by using our indicator AIMS Levels. EW consists of impulse waves and corrective waves. We are interested in trading the impulse waves and avoid the corrective waves.


Which wave is most profitable and easy to trade?   


Wave 3 is where we make money. Our strategy puts us right into the impulse waves, where the money is made.


Hypothetically, this is how Elliott Wave looks like.



Within each Impulse wave there are 5 waves.  of which wave 1,3,5,  are again impulse waves whereas wave 2 and 4 are corrective waves.

An impulse wave consists of sequence of 5 waves starting from 1 up 2 down 3 up and 4 down an…

Count Elliott Wave in 10 Sec

Example of Setup 1 and Setup 2. In the Chart below the blue arrow that point to the Red Dot is the spot which we Call Setup 1. The next AIMS/Fractal Level immediately after it broke down is what we call Setup 2. At the Red Dot alligator was sleeping. While at the second break Alligator mouth was open to the downside. 
Updated 11:00 BST

How to Trade Wave 3 Make HUGE PROFITS

The most important thing I learned few years ago was that the market was a wave. Well not the market, but the charts that we look at. It always moves in waves. Someone actually named them after themselves but we don't really need that lovely name (Elliott Wave). Because we don't need to complicate things.

When I talk about waves, I don't mean the popular Elliott Wave. I mean the WAVE we have on the most beautiful indicator called, ahem it has many names, AO, The Awesome Oscillator, The eWave, AIMS Wave etc.  It helps us see the market in a smooth wave going above and below a certain Zero Line. .. It helps you ignore the going up and going down of the price concept. For us technical traders, we don't have an up and down as such specially in forex. All we see is eWave turning Red or Green.

Assuming you already know a bit about the wave. I know most of you will want to know the answer this fantastic question. How to trade the third wave?

They all ask that question, and s…