We Display M5 and M1 Charts side by side and compare both charts for entries.
Making sure we trade in the direction of Alligator on M5 (Trend Trading) and while
alligator on M5 is open we wait for Alligator to sleep on M1 to make new trades/entries. Simple.
We also do reversals like this. Which is also simple. if you see price gone too far too fast away from
Alligator on M5, any setup on M1 in opposite direction would be our reversal setup. I'll discuss this some other day in more detail, for now enjoy this story. thanks for watching!
and yes, at 17.25 (chart time) before this trade we took a saddle point entry off M5. For some reason I later exited for 66 pips without an M5 exit signal. I was perhaps in a different sort of mood yesterday.
Setup 1 - Initial Entry
|Here we being a trade off a saddle point 3 Rules are there|
|Looking at M5 chart you'd see a beautiful Saddle point after 17.20 candle. following or AIMS EA or Red Line could have brought 140pips. Still working on belief system I guess..... nah! it happens just move on...|
|This is where patience and belief come in handy|
Setup 2. We remained patient and we waited for our exit signal and did not exit just because price was retracing a bit. In fact it was creating a beautiful Setup 2. We have AIMS level now and Alligator is open. Though the "Opposite Side of AIMS", is a bit away from us but trend is confirmed. Opposite AIMS is the AIMS level where our "maroon" stop loss line is. Upper AIMS are for Long Trades and Lower AIMS are for Short trade. (depending if the criteria for Setup, the Three Rules is Met)
|Some Sigh of relief han! I thought this might create an upper aims level|
|Here we now have AIMS level advanced warning|
|Again this is how it looked on M5/M1|
|So it does, no worries relax chill out!|
|Since I was targeting peak of 3rd wave, ie. AIMS level on M5 I moved SL to BE (scalping methods)|
|Since its going just fine we lock in some pips just in case it decides to go crazy nearly there|
|Nicely done with 20 pips, however following our candles trailing strategy meant +35 pips.|
|A Final Look at how it looked using M5/M1 window. Fifth wave Divergence in making on M5, while m1 going to fourth wave.|
Please enlarge to fully appreciate the beauty what we call in our Group "Picasso".