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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

  • #47,461
  • Aug 22, 2019 9:15am Aug 22, 2019 9:15am
Quoting Justaguy
Long {image}
Ideal Gartley
  • #47,462
  • Aug 22, 2019 9:21am Aug 22, 2019 9:21am
Quoting Justaguy
Long {image}
Looks nice but I don't think this is the proper swing.

This below is what I'm looking at... red is the longer term and the blue is the current expectation. Technically atm both are inline and it's the same swing.. so we are looking for a deep correction cause we had a very weak NSH
Attached Image (click to enlarge)
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  • #47,463
  • Aug 22, 2019 9:23am Aug 22, 2019 9:23am
That would make a 238 points swing. Not really an intraday one.
  • #47,464
  • Aug 22, 2019 9:27am Aug 22, 2019 9:27am
Quoting Pair-me-up
Looking for potential longs. Trying to combine my harmonics with structure. I suck at harmonics. Hopefully, I can increase my skills through learning from the live streams. {image} {image}
My long limit orders just got triggered. So, I will either eat a mud pie on these trades or pie in the sky. ha ha ha Luckily it is demo.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: YM 09-19 (233 Tick).png Size: 75 KB
Click to Enlarge Name: MYM 09-19 (233 Tick).png Size: 48 KB
Luck has no place in trading. Leave that for the poker table.
  • #47,465
  • Aug 22, 2019 9:28am Aug 22, 2019 9:28am
Quoting x3m-PippiN
{quote} Looks nice but I don't think this is the proper swing. This below is what I'm looking at... red is the longer term and the blue is the current expectation. Technically atm both are inline and it's the same swing.. so we are looking for a deep correction cause we had a very weak NSH {image}
Agreed I knew that going in. Just trying to participate but got taken out. Should have sat on my hands lol.
  • #47,466
  • Aug 22, 2019 9:29am Aug 22, 2019 9:29am
Quoting Pair-me-up
{quote} My long limit orders just got triggered. So, I will either eat a mud pie on these trades or pie in the sky. ha ha ha Luckily it is demo. {image} {image}
Out with two mud pies

YM -30
MYM -30
Luck has no place in trading. Leave that for the poker table.
  • #47,467
  • Aug 22, 2019 9:29am Aug 22, 2019 9:29am
Bad day to trade today huge main swing and the long has tons of risk
If you fail to plan, you plan to fail.
  • #47,468
  • Aug 22, 2019 9:30am Aug 22, 2019 9:30am
Quoting belsug
That would make a 238 points swing. Not really an intraday one.
The number of points isn't a definition for that. The higher volatility will give us larger intraday swings. That's the situation at hand whether we like it or not.
  • #47,469
  • Aug 22, 2019 9:35am Aug 22, 2019 9:35am
Quoting Justaguy
{quote} Agreed I knew that going in. Just trying to participate but got taken out. Should have sat on my hands lol.
I've learned the hard way not to participate just for participation's sake.
  • #47,470
  • Aug 22, 2019 9:38am Aug 22, 2019 9:38am
This came out around the same time the market started selling off.

In an interview with CNBC, Patrick Harker, President of the Federal Reserve Bank of Philadelphia, said that he doesn't see any need for further stimulus at the moment.

Which if there was a rate cut then cheaper to borrow money and buy more of whatever.

Let's see what happens September first.
Luck has no place in trading. Leave that for the poker table.
  • #47,471
  • Aug 22, 2019 10:41am Aug 22, 2019 10:41am
-44 on the long. Missed one entry after requalifying the OF. Long now after price made it to my area of interest, and going to start trailing when price reaches the 127 extension.
Attached Image (click to enlarge)
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  • #47,472
  • Aug 22, 2019 10:44am Aug 22, 2019 10:44am
Quoting mangoeater
{quote} Ah this makes more sense, as the charts price action look roughly similar. Would you then happen to know if trading Forex or the US30 is better? As I don't have access to Futures. But thank you so much for you reply!!
From my experience the US30 looks similar to the YM but some times behaves like a forex pair. If you don't have access to futures I'd go with the US30 but ultimately you have to find a chart where somewhat of a structure is present and gives you a profitable expectancy. Doesn't matter what it is.
  • #47,473
  • Aug 22, 2019 10:58am Aug 22, 2019 10:58am
New York's Open Took out London's Morning Session highs and then lows and now making way back to day's center for all 3 index futures. Not unusual for day's without high impact news and pending news events. Traders looking to news out of Fed Members from Jackson's Hole Symposium which is getting underway this morning. Powell speaks tomorrow morning
Anything is Possible!Side with the Probable!
  • #47,474
  • Aug 22, 2019 11:01am Aug 22, 2019 11:01am
Flat today
  • #47,475
  • Aug 22, 2019 11:06am Aug 22, 2019 11:06am
In situations like this where we have a NSH but didn't reach the 127 of the previous main swing would it be okay to follow the new expectation and wait for that to reach the 1:1 or the 127 extension of the new NSH? Does someone here have any experience with that?

Got taken out shortly after taking the screenshot for 66 points.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 143 KB
  • #47,476
  • Aug 22, 2019 11:07am Aug 22, 2019 11:07am
Quoting Kayjay2011
-44 on the long. Missed one entry after requalifying the OF. Long now after price made it to my area of interest, and going to start trailing when price reaches the 127 extension. {image}
Didn't get a rotation candle in my AOI, so price left without me.

Attached Image (click to enlarge)
Click to Enlarge Name: MYM 09-19 (89 Tick) 2019_08_22 (5_05_11 PM).png Size: 55 KB
  • #47,477
  • Aug 22, 2019 11:11am Aug 22, 2019 11:11am
Attachment g
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-19 (144 Tick) 2019_08_22 (12_09_05 PM).png Size: 51 KB
Anything is Possible!Side with the Probable!
  • #47,478
  • Aug 22, 2019 11:18am Aug 22, 2019 11:18am
No trades for me... didn't get a rotation on the 233 tick chart but after checking the 144 tick there was a rotation. I'm following both from tomorrow

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 76 KB

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  • #47,479
  • Aug 22, 2019 11:21am Aug 22, 2019 11:21am
Hello Traders, I did not get any rotations today however I did get absorption in my areas of interest and I have been seeing this more and more lately. I will be possibly making an adjustment to my trade plan that allows for entry for either absorption or rotation. Just need to test this a bit more and define the concept of absorption so it is clear.

We have define rotation from a rules stand point and we must do the same for absorption. I have to put thought into this.
If you fail to plan, you plan to fail.
  • #47,480
  • Aug 22, 2019 11:36am Aug 22, 2019 11:36am
Quoting Mr. Pip
Hello Traders, I did not get any rotations today however I did get absorption in my areas of interest and I have been seeing this more and more lately. I will be possibly making an adjustment to my trade plan that allows for entry for either absorption or rotation. Just need to test this a bit more and define the concept of absorption so it is clear. We have define rotation from a rules stand point and we must do the same for absorption. I have to put thought into this.
This will be great...I too didn't get a rotation but it's cool since it strengthens my patience
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