- Our strategy is to get into a third wave of M5 using Wave 1 and 2 on M1.
Our entries are always timed on m1 using First bar of AO and Break of AIMS setup.
- Ideally we should Enter Wave 3 of M1 and stay throughout the end of 5th wave on m1.
Which would ensure that we take full advantage of Wave 3 on M5
- But if the moves are too fast we can sometimes choose to exit all positions on End of Wave 3 on m1.
We would use peak of AO for this.
- We can also use consecutive bars trailing. We do not want to give back easy and quick pips made available to us.
- We can either chose exit on the end of Wave 3 on M1 or
decide to stay during wave 4 of M1 and exit on End of Wave 5 of M1 which would complete Wave 3 on M5.
This depends on the mode of the market, as well as our individual/group psyche and belief system
- We can then exit and avoid 4th wave of m5 ,
we can then target entry into
Wave 5 of M5 using First Bar of AO Setup on M1. First bar of AO setup always catches Wave 1 and 2 no matter candles show it or not.
This pic is old one, we dont use 10 20 macd anymore, we use iTradeAims.com AO v.2
Wednesday, 13 April 2011
Our Strategy for EUR/USD M5 and M1
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