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"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

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Ratios & Harmonics: a Different Way to Trade

  • #21
  • Dec 27, 2012 3:03am Dec 27, 2012 3:03am
look nice , i will follow thise thread.
Iam just A pips on the rode :nerd:
  • #22
  • Dec 27, 2012 4:00am Dec 27, 2012 4:00am
Good job Mr.Pip,

I'm a price action trader looking more on Harmonic patterns ... I know these patterns could sharpen accuracy of trades with high RR ratio ...

Anyway , Subscribed

Looking forward from you buddy
Not all treasure is silver and gold, mate
  • #23
  • Dec 27, 2012 4:19am Dec 27, 2012 4:19am
Welcome Mr Pip...

Glad you started this thread. I always wanted to learn more about harmonics.
  • #24
  • Dec 27, 2012 4:27am Dec 27, 2012 4:27am
Mr. Pip, thanks a lot on your decision to start this thread. It is really a Christmas gift....
  • #25
  • Dec 27, 2012 4:28am Dec 27, 2012 4:28am
At what price is the BAT pattern invalid or what makes the EUR BAT pattern invalid?
  • #26
  • Dec 27, 2012 4:39am Dec 27, 2012 4:39am
Mr. Pip really nice thread. I will follow it with big interest!!
I began with harmonics a few months ago so its a long way for me. Im a programmer and while Im reading books about harmonics Im trying to translate the rules into code. Im currently working on a indicator and found something interesting. I hope you can give me some advice..

My indicator found a Bearish reciprocal AB=CD and a Bearish AB=CD
http://imageshack.us/a/img824/2813/43427912.png

The other two indicators that i found around are showing a Bearish Gartley
http://imageshack.us/a/img845/8310/42246499.png

But for a valid Bearish Gartley we need a 0.618 retracement of the B point (Scott Carney)
What do you think about it?

Thank you!!
  • #27
  • Dec 27, 2012 4:44am Dec 27, 2012 4:44am
three drive to the top?what do you think ?
Attached Image (click to enlarge)
Click to Enlarge Name: harmonic eur.jpg Size: 115 KB
Iam just A pips on the rode :nerd:
  • #28
  • Dec 27, 2012 4:52am Dec 27, 2012 4:52am
Quoting -er-
three drive to the top?what do you think ?
edit
FIX CHART
Attached Image (click to enlarge)
Click to Enlarge Name: harmonic eur fix.jpg Size: 120 KB
Iam just A pips on the rode :nerd:
  • #29
  • Dec 27, 2012 6:12am Dec 27, 2012 6:12am
Hi Mr Pip
Really glad you started this thread. I have been impressed with your Harmonics knowledge from reading your posts from another thread, I am subscribed an anxious for more.
Thanks
Always Learning
  • #30
  • Dec 27, 2012 6:43am Dec 27, 2012 6:43am
Hi Mr Pip, I am interested and would like to subscribe.
tkz
  • #31
  • Dec 27, 2012 7:06am Dec 27, 2012 7:06am
[quote=NuNix;6323134]Do you short in this zone?[/quote



The pattern alone has a high probability but we also have added confluence which is an added bonus and gives the pattern even more validity. I would look at how price behaves in the PRZ before taking the short unless I’m not at my PC then it would be safe to enter with a limit order.


Keep in mind that price may interact with the round number above. Price has just pierced into the PRZ as you can see already this area has an effect on price.



Regards,

Mr. Pip
If you fail to plan, you plan to fail.
  • #32
  • Dec 27, 2012 7:12am Dec 27, 2012 7:12am
Quoting NuNix
Ah I'm not confident, just closed it for +1
That is fine price has not quite completed the pattern. We will discuss the patterns and the PRZ later on. I want to make sure we all understand the dynamics first.

Regards, Mr. Pip
If you fail to plan, you plan to fail.
  • #33
  • Dec 27, 2012 7:19am Dec 27, 2012 7:19am
Quoting ozziedave
At what price is the BAT pattern invalid or what makes the EUR BAT pattern invalid?
Hey Dave glad to see you here. This question is before its time but I will answer your question. Each pattern I trade has specific rules of engagement. I will post these later on. I like your thinking. We must learn to qualify these patterns. They must comply with their specific rules. My rules for they patterns have been extensively tested and offer the highest probability setup.

This pattern will be invalid if X is violated.
If you fail to plan, you plan to fail.
  • #34
  • Dec 27, 2012 7:25am Dec 27, 2012 7:25am
Quoting Mr. Pip
Let’s talk about areas of confluence. Confluence areas are where trading decisions are made. In these areas positions are covered and others are opened. They are by far the best areas for high probability trade setups.


It is a coming together of different technical tools that adds tremendous strength in the decisive nature of price movement. The more elements that meet at a specific place and time the stronger the hurtle for price to overcome. Price often takes the path of least resistance.


[size=3]The market...
Thanks for sharing! It have similarity on MTI's ABCD Fibo strategy.
  • #35
  • Dec 27, 2012 7:27am Dec 27, 2012 7:27am
Quoting Mr. Pip
That is fine price has not quite completed the pattern. We will discuss the patterns and the PRZ later on. I want to make sure we all understand the dynamics first.

Regards, Mr. Pip
Thank you, can not wait to learn the pattern
Dangdut is a music of my country
  • #36
  • Dec 27, 2012 7:40am Dec 27, 2012 7:40am
Quoting -er-
three drive to the top?what do you think ?


That is the main problem with indicators and why I don’t use them. I may be old school when it comes to trading but not every pattern is tradable. Remember that we must qualify these patterns for strength and weakness.


These patterns have specific rules and in theory could be coded but this is the biggest problem. What will you use to measure the swings that make up these patterns? The ZigZag? This is a very poor choice as this indicator is constantly adjusting itself so it repaints severely.


Also when you start relaying on indicators a terrible thing happens. We become lazy and lose sight of what is most important on a chart, price.


Price action is king and will tell us ahead of time if our analysis has any substance. I simply do not believe in indicators and only became profitable when I stopped using them. They do not tell me anything that I do not already know. Once you learn to align yourself with price they will have no value to your trading and only clutter your mind.


A price action trader is in the current the indicator is lagging so it is in the past. What they tell you has already happened and that message may have already changed or at the very least get you late to the party. We will discuss this later on as well. I hope this answers your question and one of my favorite quotes “On the road less traveled there are no shortcuts”.


Regards,


Mr. Pip
If you fail to plan, you plan to fail.
  • #37
  • Dec 27, 2012 7:50am Dec 27, 2012 7:50am
Quoting -er-
edit
FIX CHART


Yes this was pointed out in the chart I posted last night.It is not uncommon the see patterns within patterns and other harmonic elements. These elements help us in the confirmation and validation process of our analysis. Good eye!

Regards,

Mr. Pip
If you fail to plan, you plan to fail.
  • #38
  • Dec 27, 2012 7:51am Dec 27, 2012 7:51am
Mr. Pip...

Harmonics and fib ratios are a big part of my trading - as well as extremely advanced Elliott Wave. I look forward to contributing to your thread.
I am Subscribed!!!
  • #39
  • Dec 27, 2012 7:57am Dec 27, 2012 7:57am
Quoting deanoracer
Mr. Pip...

Harmonics and fib ratios are a big part of my trading - as well as extremely advanced Elliott Wave. I look forward to contributing to your thread.
I am Subscribed!!!
Great we can all learn some Elliot Wave. Looking forward to your contribution!
If you fail to plan, you plan to fail.
  • #40
  • Dec 27, 2012 8:02am Dec 27, 2012 8:02am
I would like to thank everyone for your kind words and interests in Harmonics I look forward to all your posts and contributions as well.

Regards,

Mr. Pip
If you fail to plan, you plan to fail.
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