Great thread! I'm interested!
- Joined Feb 2012 | Status: Member | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
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DislikedThis is a great thread, thanks so much Mr. Pip....really like the clean look now w/o all the indicators, ma's etc......Have gone through about half of the pdf book someone posted here, can't remember who, but thanks. I do have some questions, do you guys just draw these patterns or is there an indicator that you use? See some charts that have a target for C and then 2 lines that go to the possible area or zone for D. I understand about the fibs and all but didn't know about the future or potential area and how these lines are drawn. Also, 1...Ignored
DislikedMr.Pip,
Great thread, Thanks for starting it up ! This is one of my strategy, I used it before but for whatever reason I m using it very less now. I had a mixed results using this one. Now again you brought this to my notice & I will try to accommodate it again in my trading. So lets start with some charts. Here is my USDCAD on daily TF where I see potential bullish bat pattern developing. Price is now at point C & infact I am watching price action to take aggressive C trade as there is confluence of falling TL & structure. Although I believe...Ignored
DislikedHere's a much larger picture showing the top of the main swing.
Hope you have a great time at Magic Kingdom!Ignored
DislikedHello everyone...
Mr. Pip, seems like I should have this on repeat, but thanks again for everything you have posted! It truly is feeling like an awakening to me. If I ever make it big trading, remind me to put you in my will... Or at least buy you a drink!
I've taken some time to put what I consider to be the most instructive posts you have put out so far, in a word file (as I hate having to go though an entire thread over and over again to re-read 1 or 2 post). Anyways, I've attached it here in case others think the same way. If I've...Ignored
DislikedHi ..
lot of harmonic indi out there but mr. pip already wrote this earlier :
This system is based on price action, ratios and harmonics. NO indictors will be added or used. Please do not post any as they are not part of this system. All traders and their ideas deserve the upmost respect and that is the only rule for now. ( here (http://www.forexfactory.com/showthread.php?t=402253) )
actually i'd like to share what i have here .. but i have to respect Mr.Pip to keep his system/thread clean from indiIgnored
DislikedA collection of the most important posts by Mr. Pip. A link to the ebook Harmonic Trader by Scott Carney is included. The files is pretty big because it contains pictures of charts in high resolution.
I fixed a little layout error. New version is online.Ignored
DislikedHi Mr Pip
I am quite new to trading and I am intrigued by this thread.
Several years ago I attempted end of day trading using fibs, taking trades at either of these 4 levels 61.8, 78.6, 127, 161.8.
I would use the distance of the swing from point A to B to determine price projection and potential reversals complimenting any of those 4 levels above.
I would make sure trade has at least 1:3 risk reward ratio.
I stopped trading due to personal reasons and I would like to start trading again this time on a full time basis.
What time frame...Ignored
DislikedBoth of you are can be correct. It depends on where price goes from here. If price goes up your ABCD will be correct, if price goes down the BAT pattern could form.Ignored
DislikedThis thread is for all traders and levels of experience. So when someone posts a chart asking about a crab or bat the newer less experienced traders might not have a clue. This is fine and to the newer traders don't worry we will all end up on the same page if I do my job right.Ignored
DislikedExcellent! I am one of those less experienced traders and want to thank you for the way you are managing this thread.
In the firsts posts it all seemed that it was only for experienced traders who knew all about abcd patterns, fib retracements and extensions. But then it all became clear. We first needed to identify the main and dominant swings, etc, etc, step by step.
One question about Scott Carney book. I know that it'd be best to anyone to read it, but some probably won't have the time to go through the 273 pages. Plus, you mentioned that...Ignored
DislikedH1 EURUSD seems forming a bearish butterfly. Previous bar is a pin bar and supported by previous demand region. A test to place a buy stop on few pips above previous bar high and target for the point D. A dangerous test as I speculate it is a butterfly rather than it is formed already.Ignored