- 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