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Ratios & Harmonics: a Different Way to Trade

Quoting beepbop2015
I tried posting this a little earlier, but deleted because I had the charts messed up. This is a trade I took today. In the big picture, shown below, I saw an inverse head and shoulders pattern completing at an area of prior structure confluent with the completion of an ideal harmonic (if somewhat sloppy) ABCD. This is the hourly chart scrunched up. {image} In the closeup, I saw a decrease in momentum and projection between the two most recent upswings, and on a bar by bar level, rejection of the line of resistance I have drawn in gold. My entry,...
Nice run through on your thought process. I think that's a nice trade for 43 pips
IMHO, the exit is always more important (and more difficult) than the entrance.
Quoting honestknave
{quote} Hello Mikali, I'm not sure if my observations will help or confuse... so please feel free to disregard everything! Basically, don't lose sight of where price is in the bigger scheme of things. {image}
Hey honestknave,

Thanks for the feedback and I definitely need to work more on zooming out to view price. The swing ID video is just amazing for this very thing.

Mikali
Good day traders,

First trade for today was a short of USDJPY 233T (I entered a bit late as you see but was very confident that it would drop after seeing the bulls struggle to lift price even a few pips)
Long term break of bullish structure, making NSL and LH.
AB=CD completion and a retrace to 61.8% was completed and price started to drop
Attached Image (click to enlarge)
Click to Enlarge Name: JPY (-).png Size: 59 KB


As I wrote this price dropped really nice, currently +22 pips (locked in +10)

EDIT: Stopped out +10. Might reenter upon PA confirmation.
EDIT2: Reentered with same expectation. TP reached, total +32 pips.
Rise and rise again until lambs become lions
Quoting Mr. Pip
{quote} My chart should be clear enough but if I need to explain something further let me know. {image}

Hey Mr. Pip,

Thank you so much for your detailed analysis on my trade...I need to get a better grasp of order flow and price action which I'm still having problems with. I have viewed your videos on the subject's and it is still unclear but this may be due to the fact that I'm only about 100 pages into the thread....I'm sure as I view more charts from the community along with your analysis that things will only get clearer.

Respectfully and with many thanks,
Mikali
Quoting Mr. Pip
{quote} It happens it's not foolproof but the order flow did suggest a strengthening bull market.
I really need to work out order flow...I will be reviewing your videos over the weekend to improve this vital skillset !!

Respectfully,
Mikali
Quoting Mr_Burns
Good day traders, First trade for today was a short of USDJPY 233T (I entered a bit late as you see but was very confident that it would drop after seeing the bulls struggle to lift price even a few pips) Long term break of bullish structure, making NSL and LH. AB=CD completion and a retrace to 61.8% was completed and price started to drop {image} As I wrote this price dropped really nice, currently +22 pips (locked in +10)

Hey Mr_Burns,

I was in the same trade not sure if my analysis was as in-depth as yours and I did not properly calculate the TP @ 61 Fib of the CD Leg...but I was still able to bank 27.4 pips.

Mikali
Quoting Mikali
{quote} Hey Mr_Burns, I was in the same trade not sure if my analysis was as in-depth as yours and I did not properly calculate the TP @ 61 Fib of the CD Leg...but I was still able to bank 27.4 pips. Mikali
Congrats on the pips, I will have a look on your trade later.
Rise and rise again until lambs become lions
Quoting Mr_Burns
{quote} Congrats on the pips, I will have a look on your trade later.
I appreciate that Sir !!

With thanks,
Mikali
2nd trade,

Long term order flow bearish
Short term consolidating, broke structure with a weak NSH followed by a NSL. Was expecting a retest of 1.4995 and there PA gave me the signal to short.
Expectation 1to1
Im against really short term order flow so while my SL is above NSH I dont want a close above 1.4995
Attached Image (click to enlarge)
Click to Enlarge Name: USD (-).png Size: 61 KB


EDIT: Took profit +4 pips, got cold feet after seeing too much bullish strength.
Rise and rise again until lambs become lions
Quoting Matts Micro
Was busy reviewing last trade and missed the C sell of the next move. There seems to be a little confluence at D with recent lows. (not marked but also close to the AB 127 extension). {image}
Just got back. I saw that this trade was taking too long for the set up and I needed to do a few things. I saw it on my ipad while out though and was fairly confident there was no entry as price went straight through the PRZ.
Discard hope, Embrace fact
Here's an opportunity on USDJPY
Long term bullish and short term order flow just broke structure to the upside.
Expectation is 1to1 to the upside but might not get there since there's strong support @118.82.
Attached Image (click to enlarge)
Click to Enlarge Name: JPY (-).png Size: 68 KB
Rise and rise again until lambs become lions
May be a possible short opportunity at the 1.1200- 1.1220 zone coming ??
Attached Image (click to enlarge)
Click to Enlarge Name: Eur233T23jan15.png Size: 38 KB
Eur 1min

Short rejection on the 50 fib, although we have a weak pull back, looking for a continuation to the down side with orderflow.
Attached Image (click to enlarge)
Click to Enlarge Name: eur.PNG Size: 52 KB
In long
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 11.png Size: 64 KB
Discard hope, Embrace fact
Quoting Mr_Burns
2nd trade, Long term order flow bearish Short term consolidating, broke structure with a weak NSH followed by a NSL. Was expecting a retest of 1.4995 and there PA gave me the signal to short. Expectation 1to1 Im against really short term order flow so while my SL is above NSH I dont want a close above 1.4995 {image} EDIT: Took profit +4 pips, got cold feet after seeing too much bullish strength.
Your AB line is incorrect on here. The point B is using a candle from a time before point A and it should always be in the future (if that makes sense!).
Took this short on a retest of the 50Fib. If it breaks above the 50 It could retrace into golden zone.
Expectation in NSL. Trade is with long term OF against short term OF. As I write I just got stopped out. -12.
Now looking for short in golden zone.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 1-23 1.png Size: 29 KB
Barry
Chart is a bit rough as I am watching PA as it goes...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 12.png Size: 36 KB
Discard hope, Embrace fact
Quoting DizzleFX
Mr. Pip, question! Since I started using Ninja Trader with an FXCM Demo account, I have noticed that if I switch from one chart to another, then back to the first, the candles on the tick chart have changed a little. Is this something you experience with a live account, or is this just a product of being on demo? I can show examples if needed. I have been using the tick chart to make entries on my MT4. Just want to know what I am getting into, before I spend the money to use Ninja Trader on a live account.
Yeah I have this issue too. It is like my NT platform is not picking up all the ticks as it should, therefore showing me in the live feed a lot fewer candles. Then when it is reloaded from historic data all the ticks are loaded and I have a lot more candles showing, meaning all my buy/sell points and ruler markings look like I was drunk when I placed them!!

Not sure if this is to do with my internet or the feed either?
Stopped out, same as Bary.
Eur 1 min

Now waiting for price to hit the golden zone 618-786, and look for weakness there, and still be in line with long-term orderflow.
Attached Image (click to enlarge)
Click to Enlarge Name: Eur 1.PNG Size: 53 KB
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