I don't like showing trades like these as such but these are not something to imporess anyone. I only record these for my own purposes. That's what I've been doing for years. I just share some bits of my journal in the forum or here. Don't want to bore everyone with details. Perhaps some details are too personal to share as well.
The following is a clip of a trade that was identified on H1 and taken on M5. Now I could have taken this setup to run on h1 but I had to do something and do quick. I was going to be out all day, or most of it. I wanted enjoy the sun out near the sea. And I did. But before that I saw GBP/USD breakout and hten a couple of h1 candles moved sideways .Perfect scenario for what we call the PPP. [Push Pull Push = elliott wave = simple = enjoy]
Basically you want to see momentum and trend on h1. Then drop to M5 to find Setup 1. and Bang...
[Gator is your trend. plus if you know how to read AIMS Wave or AO or snorms eWave then you have extra informa…
I've decided that I'll (try) to share majority of my daily journal post. It should include trades taken, analysis, trading ideas and some tips and ideas. So do checkout regularly to learn how we trade AIMS Stress Free Trading - The Setup and other strategies. [FREE]
So today we saw some plays on #eur/usd # usd/jpy and #usd/chf. We also saw some plays on Gold, GBP/CAD and GBP/JPY but won't talk about those for now.
Below is my trade on USD/JPY. I took it on the hourly time frame looking for the Wave 5 up. As aimster you are taught that we are all interested in the 5th. We always work our way towards TZ1. 80% of 5th's do end up touching or going past TZ1.
[TZ1 and 5th are our trading tools. You can learn more about it in the members section. ]
I'll just copy and paste from our AIMS Skype Live Trading Room.
"so on UJ i took a 20 pips SL on the first trade and closed out at -1R. but went back in , this time at the close of the bar mentioned above with a 15 pips …
There is a way to trade the Setup , [AIMS Stress Free Trading - The Setup ] strategy on the hourly but with entries on the M5. This method allows you to have alot of free time at hand.
Basically what you do is that you scan through a bunch of h1 charts. Watch which ones have broken out of range and then pulled back a couple of candles. Then drop to M5 to trade setup 1 on that.
I'll give a little example from DAX30 [German Index] Today.
More on this inside the forum
We have a method called AIMS The Hunt Strategy that takes care of this situation above automatically. You won't have to swtich to M15 or M5. Just wait for Hunt Signal , check the rules, apply the filters and bang...
So on the same chart, Cherry signal was produed a bit later on the H1 chart as shown below.